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Global Consumer Credit Market Report 2023: High Economic Growth for Micro-enterprises Bolsters Growth - ResearchAndMarkets.comThe "Consumer Credit Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering. The global consumer credit market size reached US$ 11.0 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 14.5 Billion by 2028, exhibiting a CAGR of 4.71% during 2022-2028. Companies Mentioned
Consumer credit refers to short- and intermediate-term personal loans that are taken by individuals to finance the purchase of commodities and services for personal consumption. A finance fee is charged for the sanction of credit or the extension of existing credit that can be presented in the form of a cash loan or by a seller in the form of sales credit. They are commonly available in the form of non-revolving loans that are repaid in a specific number of payments and revolving loans that include automobile, consumer good, home repair and personal loans. Significant growth in the banking, financial services and insurance (BFSI) industry is one of the key factors creating a positive outlook for the market. Furthermore, high economic growth for micro-enterprises, especially in developing nations, s also providing a boost to the market growth. Banks and other financial institutions are investing in micro, small and medium enterprises (MSMEs) to minimize the credit gap with local vendors. Additionally, consumer banking professionals are adopting credit data that deals with the information related to cash flows and analytics at the portfolio level. Credit data in such instances aids in managing individual credit cases, real-time pricing and capital management of multi-asset portfolios and minimizing firm-wide risks through consistency, automation, and transparency. Moreover, the increasing use of social media platforms by consumer credit agencies for better market connectivity and penetration is contributing to the market growth. These platforms aid in expanding the consumer base, launching media campaigns, and conducting new product launches. Key Market Segmentation: The publisher provides an analysis of the key trends in each sub-segment of the global consumer credit market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on credit type, service type, issuer and payment method. Breakup by Credit Type:
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Key Questions Answered in This Report:
For more information about this report visit https://www.researchandmarkets.com/r/k829yg About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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