Credit Intermediation Market has the Potential to Grow by USD 649.87 billion during the forecast period, 35% Growth to Originate in APAC - Technavio
NEW YORK, Jan. 25, 2024 /PRNewswire/ -- The credit intermediation market is estimated to grow by USD 649.87 billion from 2023 to 2028, growing at a CAGR of 2.36%. The market is concentrated owing to the presence of many global and regional companies. APAC is estimated to contribute 35% to the growth during the forecast period. The growth of the region is driven by the presence of leading companies, making North America a central hub. This growth is further propelled by the increasing popularity of lending and the significant rise in the number of small and medium enterprises (SMEs) in the region. Additionally, the growing student population in the US and Canada is driving demand for microcredit as an alternative to traditional education financing, fueling growth. Furthermore, immigrants and entrepreneurs from minority communities in the US are increasingly turning to credit, contributing to the market's expansion.
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Bank of America Corp. - The company offers personal loans, and mortgage lending.
Barclays PLC - The company offers personal loans, credit cards, mortgages, and business loans.
Citigroup Inc. - The company offers consumer loans, credit cards, and trade finance.
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Growing focus on effective financialization is notably driving growth. Financial institutions are enhancing financialization through improved last-mile reach and multi-channel banking services. The growth is driven by non-bank credit intermediation, aiming for greater financial inclusion and credit liberalization. Innovations like door-step banking and banking correspondents are also boosting demand.
- The development of an active secondary credit sector ensuring smooth credit intermediation is an emerging trend.
- Growing vulnerabilities and deficiencies in banks related to credit intermediaries is a significant challenge hindering growth.
The individual segment garnered the major share in terms of revenue
The individual segment of the market is anticipated to grow due to the increased adoption of credit intermediaries for personalized agreements and a rising focus on becoming credit counselors. Amid economic challenges like rising interest rates and inflation, more people are seeking credit counseling to manage debt. This trend is expected to drive growth in the individual segment.
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Facilitating Financial Transactions
Banks, credit unions, and mortgage lenders, among others, plays a crucial role in financial markets. It connects savers with borrowers, enabling efficient capital allocation and risk management. Credit bureaus and rating agencies assess creditworthiness, while central banks regulate monetary policy. Financial advisors and asset managers guide investments, and payment processors facilitate transactions. Fintech companies innovate financial services, while compliance providers ensure regulatory adherence. This diverse ecosystem fuels economic growth and stability, benefiting both individuals and businesses.
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TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentation by Application
7 Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios.
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SOURCE Technavio
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