The Credit Bureaus Global Market Report 2023, provides comprehensive information on the credit bureaus market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global credit bureau market size is expected to grow from $108.93 billion in 2022 to $124.99 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global credit bureau market size is expected to reach $201.09 billion in 2027 at a CAGR of 12.6%.
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The use of blockchain is a key trend gaining popularity in the credit bureau market. Major market players are concentrating their efforts on introducing innovative technologies to strengthen their position in the market. Blockchain is an immutable and shared ledger that will allow diverse parties to initiate and finish transactions by providing an immediate, shareable, and transparent exchange of encrypted data. For Instance, in May 2021, TransUnion, a US-based consumer credit reporting firm partnered with Spring Labs, a US-based software company to introduce a blockchain-based credit data-sharing platform for the exchange of sensitive data. TransUnion’s data-sharing platform leverages blockchain in credit bureaus to build a more robust network effect of data that enables credit bureaus and others to forecast the creditworthiness of individuals.
The credit bureaus market is segmented:
1) By Product Type: Credit Score, Credit Reports, Credit Check Services
2) By Report Type: Corporate Credit Reports, Individual Credit Reports
3) By End User: Commercial, Consumer
North America was the largest region in the credit bureaus market in 2022.
The table of contents in TBRC’s credit bureaus market report includes:
- Executive Summary
- Credit Bureaus Market Characteristics
- Credit Bureaus Market Trends And Strategies
- Credit Bureaus Market – Macro Economic Scenario
- Credit Bureaus Market Size And Growth
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- Credit Bureaus Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Credit Bureaus Market
- Credit Bureaus Market Future Outlook and Potential Analysis
- Appendix
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