DUBLIN--(BUSINESS WIRE)--The "Micro Lending Market Size, Share & Trends Analysis Report by Service Provider (Banks, Micro Finance Institutes (MFIs)), by End-user (Solo Entrepreneurs & Individuals, Micro, Small & Medium Enterprises), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
“Micro Lending Market Size, Share & Trends Analysis Report by Service Provider (Banks, Micro Finance Institutes (MFIs)), by End-user (Solo Entrepreneurs & Individuals, Micro, Small & Medium Enterprises), by Region, and Segment Forecasts, 2022-2030”
The global micro lending market size is expected to reach USD 86.82 billion by 2030, growing at a CAGR of 13.4% from 2022 to 2030
The growth is anticipated to be driven by several advantages offered by micro lending to the loan providers, such as the easy accessibility to offer loans within and aboard the country and earning more interest rates compared to the traditional fixed deposit and other investments. Furthermore, the growing demand for micro lending by individuals through peer-to-peer lending platforms is another major factor driving the market's growth.
Furthermore, the initiatives undertaken by the government to offer support to various financial enterprises and grants to NGOs bode well for the growth of the micro lending industry. For instance, the Indian government, through Pradhan Mantri Mudra Yojana, offers refinancing support to MFIs and banks for lending to micro units requiring loans up to 10 lakhs (USD 15,661). In addition, the increasing potential of entrepreneurs to start a business with small capital support is another factor expected to drive growth over the forecast period.
The technological advancements and implementation of several technologies such as Artificial Intelligence (AI) to reduce the expenses of companies related to microloan applications are anticipated to drive the growth of the market. Furthermore, the growing digitalization, increasing adoption of smartphones, and use of e-wallets have enabled borrowers to repay loans with ease. Hence, such digital trends in the market are expected to create growth opportunities for the industry over the forecast period.
The global COVID-19 pandemic adversely impacted market growth in 2021. However, micro lending platforms have enabled SMEs and other business owners to grow significantly by leveraging micro-loans to increase the capital of the businesses to survive the pandemic.
Furthermore, the growing tendency of companies to gain small loans, aided by several government initiatives, is expected to create new growth opportunities for the industry over the forecast period.
Market driver analysis
Market challenge analysis
Micro Lending Market - Porter's Five Forces Analysis
Micro Lending Market - PESTEL Analysis
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Micro Lending That Makes A Difference
Positiviti Lending is an International Peer-to-Peer Micro Lending Program. Participation in Positiviti Lending is subject to our terms and conditions. Lender Members are advised to read and understand before engaging with our program. Positiviti is a sponsored program within World Workforce International Inc., a 501(c)(5) nonprofit organization's framework. Positiviti Lending is not a bank, is not FDIC insured, and does not guarantee returns. While the program aims to facilitate profitable lending, potential principal loss can occur due to inherent risks. Positiviti Lending is not an insurance program and shall not be liable for any claims, damages, or losses arising from misconceptions regarding the nature of the program. Participation in Positiviti Lending signifies acceptance of these terms and conditions.
