Consumer Credit Market Report 2024: A Global $16.8 Billion Industry by 2032, Driven by High Economic Growth for Micro-enterprises, Especially in Developing Nations

Dublin, April 22, 2024 (GLOBE NEWSWIRE) -- The "Consumer Credit Market Report by Credit Type, Service Type, Issuer, Payment Method, and Region 2024-2032" report has been added to's offering.

The global consumer credit market size reached US$ 11.5 Billion in 2023. Looking forward, the market to reach US$ 16.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.3% during 2023-2032.

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, is 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 Questions Answered in This Report

  • What was the size of the global consumer credit market in 2023?
  • What is the expected growth rate of the global consumer credit market during 2024-2032?
  • What are the key factors driving the global consumer credit market?
  • What has been the impact of COVID-19 on the global consumer credit market?
  • What is the breakup of the global consumer credit market based on the credit type?
  • What is the breakup of the global consumer credit market based on the service type?
  • What is the breakup of the global consumer credit market based on the issuer?
  • What is the breakup of the global consumer credit market based on the payment method?
  • What are the key regions in the global consumer credit market?
  • Who are the key players/companies in the global consumer credit market?

Key Attributes:

Report AttributeDetails
No. of Pages149
Forecast Period2023 - 2032
Estimated Market Value (US$) in 2023US$11.5 Billion
Forecasted Market Value (US$) by 2032US$16.8 Billion
Compound Annual Growth Rate4.3%
Regions CoveredGlobal

Competitive Landscape:

  • Bank of America
  • Barclays
  • BNP Paribas
  • China Construction Bank
  • Citigroup
  • Deutsche Bank
  • HSBC
  • Industrial and Commercial Bank of China (ICBC)
  • JPMorgan Chase
  • Mitsubishi UFJ Financial
  • Wells Fargo

Key Market Segmentation:

Breakup by Credit Type:

  • Revolving Credits
  • Non-revolving Credits

Breakup by Service Type:

  • Credit Services
  • Software and IT Support Services

Breakup by Issuer:

  • Banks and Finance Companies
  • Credit Unions
  • Others

Breakup by Payment Method:

  • Direct Deposit
  • Debit Card
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

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