Rockville , Oct. 16, 2023 (GLOBE NEWSWIRE) -- The global microfinance market stands at US$ 228.8 billion in 2023 and is predicted to expand at a CAGR of 11% through 2033, according to a study conducted by Fact.MR, a market research and competitive intelligence provider.
Within the global financial landscape, microfinance is a dynamic and transformative sector. Microfinance institutions (MFIs), following the principles of financial inclusion and social empowerment, have emerged as critical players in extending financial services to individuals and communities that have been excluded from the formal banking system. The primary mission of this market is to alleviate poverty, encourage entrepreneurship, and promote economic development by providing access to credit, savings, insurance, and other essential financial tools.
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Microfinance recognizes the importance of financial access as a driver of personal and community progress, at its core. The microfinance market has undergone remarkable transformations in recent years, owing to technological advancements, changing regulatory environments, and a growing recognition of its potential to drive social impact. These changes have propelled the industry beyond traditional lending models, ushering in a new era of digital financial inclusion, product diversification, and sustainability.
| Report Attribute | Details |
| Value Projection (2033) | US$ 650 Billion |
| Growth Rate (2023-2033) | 11% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaways from Market Study
- The global microfinance market is projected to advance at a CAGR of 11% through 2033.
- The market is estimated at a valuation of US$ 228.8 billion in 2023.
- Revenue from microfinance solutions are projected to reach US$ 650 billion by the end of the forecast period (2023 to 2033).
- The market in India stands at a value of US$ 45 billion in 2023.
- Asia Pacific is expected to hold a leading market share by 2033.
- The banks segment accounted for 42% of revenue share in 2022.
“Understanding the key drivers, challenges, and opportunities that shape the microfinance market is critical for stakeholders, policymakers, and investors alike in this ever-changing landscape. This industry is still grappling with the complexities of balancing financial sustainability with its overarching social mission. Microfinance is more than just a financial industry; it is a force for positive change, unlocking economic potential and fostering inclusive growth around the world,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Annapurna Finance Pvt. Ltd.
- Bank Rakyat Indonesia (BRI)
- Bandhan Bank
- CDC Small Business Finance
- Grameen America
- Kiva
- Grameen Bank
- Cashpor Micro Credit
- Madura Microfinance Ltd.
- Pacific Community Ventures Inc.
- Inditrade Janakalyan Microfinance Limited
Easy Access to Basic Financial Services Strengthening Economic Stability
Financial inclusion is a fundamental driver of social progress because it helps reduce poverty, improve economic stability, and foster greater social equity by providing everyone with equal opportunities to participate in the formal financial system.
Traditional banking services are inaccessible to millions of people, particularly in developing countries. Microfinance institutions (MFIs) fill this void by offering financial products and services to the underserved and unbanked. This allows them to gain access to credit, savings, and insurance services, all of which are necessary for economic stability and growth.
Financial inclusion is critical to achieving equitable economic growth and social development. Financial inclusion aims to empower individuals to better manage their finances, invest in income-generating activities, protect against financial shocks, and improve their overall quality of life by extending these services to marginalized communities.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the microfinance market for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on provider (banks, microfinance institutions [MFIs]), non-banking financial corporations [NBFCs], others), purpose (agriculture, manufacturing/ production, trade & services, households, others), and end user (small enterprises, micro-enterprises, solo entrepreneurs/ self-employed), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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