An increase in the adoption of micro-lending in developing nations for improving lifestyle, a shift from traditional lending to micro-lending, and lesser operating costs and low market risks drive the growth of the global micro lending market. Based on region, the Asia-Pacific region held the highest market share in terms of revenue in 2021, garnering around half of the global microlending market.
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According to the report published by Allied Market Research, the global micro-lending market generated $134.35 billion in 2019 and is projected to reach $343.84 billion by 2027, witnessing a CAGR of 12.6% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chains, key investment pockets, regional scenarios, and competitive landscapes.
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Pramod Borasi, a Research Analyst, BFSI at Allied Market Research, stated, “The sole entrepreneurs and the individual segment is expected to experience significant growth in the coming years, owing to rise in adoption of micro lending and micro-financing services among the individuals for financial stability and to overcome poverty.”
COVID-19 scenario:
- The outbreak of covid-19 led to the shutdown of many micro and small businesses, thereby affecting the global micro-lending market.
- Simultaneously, the worldwide pandemic situation also hampered the cash flow of several business operations, which in turn paved the way for lucrative opportunities for the frontrunners in the industry.
The report offers detailed segmentation of the global micro-lending market based on service providers, end users, and regions.
Based on service providers, the bank’s segment contributed to nearly half of the total market share in 2019 and is anticipated to rule the roost by the end of 2027. At the same time, the Micro Finance Institute (MFI) segment would register the fastest CAGR of 14.0% throughout the forecast period.
Based on end users, the small enterprise’s segment accounted for nearly two-fifths of the total market revenue in 2019 and is expected to lead the trail by 2027. The solo entrepreneurs or self-employed segment, on the other hand, would exhibit the fastest CAGR of 13.9% from 2020 to 2027.
Based on region, the Asia-Pacific region held the highest market share in terms of revenue in 2021, garnering around half of the global microlending market. The same region would also showcase the fastest CAGR of 13.0% by 2027. The other three regions studied in the report include North America, Europe, and LAMEA.
The key market players analyzed in the global micro-lending market report include Accion International, BlueVine, Inc., Fundera, Inc., Funding Circle, Kabbage, Inc., Kiva, Lendio, LENDR, OnDeck, and StreetShares, Inc.
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