The Household Lending Global Market Report 2023, provides comprehensive information on the household lending 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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https://www.thebusinessresearchcompany.com/report/household-lending-global-market-report
The global household lending market size is expected to grow from $4,048.14 billion in 2022 to $4,520.83 billion in 2023 at a compound annual growth rate (CAGR) of 11.7%. 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 household lending market size is expected to reach $6,798.66 billion in 2027 at a CAGR of 10.7%.
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Technological advancements are the key trends gaining popularity in the household lending market. Major companies operating in the household lending market are focused on developing innovative technologies to strengthen their position in the market. For instance, in October 2021, Roostify, a US-based developer of a digital lending platform for home loans, launched the ‘first of many’ APIs (application programming interface) on its existing lending platform developed to automate data extraction from documents and document validation in the financing process. Roostify Document Intelligence (RDI) Service, the company’s newest technology, will employ AI (artificial intelligence) to identify, validate, and extract data from documents connected to mortgages. Users can receive automatic feedback from the technology when they upload documents that are wrong or ineligible, and errors can be flagged before it cause a data input problem. As an API, this one may be integrated into any step of the lending process and serve a wide range of use cases that can take advantage of the automated identification and extraction of data from the mortgage document collection.
The household lending market is segmented:
1) By Types: Fixed Rate Loans, Home Equity Line of Credit
2) By Service Providers: Banks, Online, Credit Union, Other Service Providers
3) By Source: Mortgage and Credit Union, Commercial Banks, Other Sources
4) By Interest Rate: Fixed-rate Mortgage Loan, Adjustable-rate Mortgage Loan
North America was the largest region in the household lending market in 2022.
The table of contents in TBRC’s household lending market report includes:
1. Executive Summary
2. Household Lending Market Characteristics
3. Household Lending Market Trends And Strategies
4. Household Lending Market – Macro Economic Scenario
5. Household Lending Market Size And Growth
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26. Africa Household Lending Market
27. Household Lending Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Household Lending Market
29. Household Lending Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Bank of America Corporation
- JPMorgan Chase and Co
- Pentagon Federal Credit Union
- Discover Bank
- Member FDIC
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