The Consumer Credit Global Market Report 2023, provides comprehensive information on the consumer credit 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
consumer credit market size is expected to grow from $10.49 billion in 2022 to
$11.17 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. 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 consumer
credit market size is expected to reach $13.91 billion in 2027 at a CAGR of
5.6%.
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Tables):
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Product
innovations are a key trend in gaining popularity in the consumer credit
market. Major companies operating in the consumer credit market are focused on
developing innovative solutions such as Artificial Intelligence (AI) and data
analytics to strengthen their position in the market. For Instance, in November
2022, LoanDepot Inc. introduced an innovative digital home equity line of
credit (HELOC). The product features a simple interface and is fast, with a
timeframe of as little as seven days from application to closure. Customers may
acquire a no-hassle online rate quotation in less than five minutes and
pre-qualify without affecting their credit ratings. It is a unique technology
platform empowered by digital tools and data. This innovative new system
provides homeowners with an effective financing option for tackling inflation
and increasing consumer debt with a level of electronic convenience that is not
currently accessible through conventional HELOC products.
The consumer
credit market is segmented:
1) By Service
Type: Credit Services, Software And IT Support Services
2) By Credit
Type: Revolving Credits, Non-Revolving Credits
3) By Issuer:
Banks And Finance Companies, Credit Unions, Other Issuers
4) By Payment
Method: Direct Deposit, Debit Card, Other Payment Methods
5) By
Application: Individual, Enterprise, Other Applications
North America was
the largest region in the consumer credit market in 2022.
The table of contents in TBRC’s consumer credit market report includes:
1. Executive Summary
2. Consumer Credit Market Characteristics
3. Consumer Credit Market Trends And Strategies
4. Consumer Credit Market - Macro Economic Scenario
5. Consumer Credit Market Size And Growth
.
27. Consumer
Credit Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Consumer Credit Market
29. Consumer Credit Market Future Outlook and Potential Analysis
30. Appendix
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businesses can gain a thorough understanding of the market’s size, growth rate,
major drivers and leading players.
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