Microlending Market Bank Falter, Featuring Key Drivers, Affective Mechanisms, Employment, Social Affairs, Evidence, Technologies And Forecast 2023-2032|Accion International, Bajaj Finserv Ltd., Bandhan Bank Ltd., BlueVine Inc., Equitas Small Finance Bank Ltd.

Spread the love

The Microlending Global Market Report 2023 by The Business Research Company, provides microlending market overview 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.

Learn More On The Microlending Market:

https://www.thebusinessresearchcompany.com/report/microlending-global-market-report

According to The Business Research Company’s Microlending Global Market Report 2023, the market size is expected to grow from $168.89 billion in 2022 to $191.86 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. 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 microlending market size is expected to reach $304.87 billion in 2027 at a CAGR of 12.3%.

The rising need for micro-lending among end-users, including micro-enterprises and small enterprises is expected to propel the growth of the microlending market going forward. Small and medium enterprises are organizations whose personnel and revenue numbers are below certain limits. Microlending helps small and medium enterprises to grow through small-dollar lending and helps them to prosper in their business.

Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample_request?id=9366&type=smp

The microlending market is segmented:

1) By Provider: Banks, Micro Finance Institute (MFI), NBFC (Non-Banking Financial Institutions), Other Provider

2) By End-User: Small Enterprises, Micro Enterprises, Solo entrepreneurs, And self-employed

Innovations in microfinance are a key trend gaining popularity in the microlending market. Major companies operating in microlending are introducing innovative products to sustain their position in the market. For instance, in November 2020, Bank Islam, a Malaysia-based Islamic banking company, launched BangKIT Microfinance, an innovative product funded by a sadaqah instrument, through an Islamic crowdfunding official portal which is the first of its kind in Malaysia. This is designed to help unbanked and underbanked micro-entrepreneurs to obtain capital start-ups or expand their businesses, for building a credit record to qualify them for future financing by providing for business expansion.

The microlending market report table of contents includes: