Consumer Finance Lending Market Scope
Consumer Finance Lending offers financing for personal, family, as well as household purposes. Consumer loans can be availed from financial institutions or lending platforms. Owing to the increasing disposable income of the population coupled with rising consumer awareness regarding personal financing, there is increased adoption of consumer lending. The consumer finance lending market is expected to witness significant growth over the forecasted period owing to increasing consumer spending on personal products and services capacity since this type of financing focuses on individual and household consumers.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | JPMorgan Chase (United States), HSBC (United Kingdom), BNP Paribas (France), Citigroup (United States), Industrial and Commercial Bank of China (China), Barclays (United Kingdom), Bank of America (United States), Bajaj Capital (India) and Birla Global Finance (India) |
CAGR | % |
Consumer Finance Lending is a fragmented market due to the presence of various competitors. The key players focus on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that Asia Players will contribute to the maximum growth of Global Consumer Finance Lending market throughout the predicted period.
JPMorgan Chase (United States), HSBC (United Kingdom), BNP Paribas (France), Citigroup (United States), Industrial and Commercial Bank of China (China), Barclays (United Kingdom), Bank of America (United States), Bajaj Capital (India) and Birla Global Finance (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are ICICI (India), Housing Development Finance Corporation (India), L&T Finance (India) and LIC Housing Finance (India).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Consumer Finance Lending market by Type , by Application (Banking, Financial Institutes and Others) and Region with country level break-up.
On the basis of geography, the market of Consumer Finance Lending has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In September 2022, JPMorgan Chase acquired Renovite Technologies, Inc., a leading cloud-native payments technology company. Through this acquisition, J.P. Morgan Payments aims to build its next-generation merchant acquiring platform, bolster the firm’s payments modernization strategy and support its journey to the cloud.
In September 2022, HSBC partnered with Nova Credit, a consumer-permission credit bureau, to offer global access to its cross-border credit data product, Credit Passport, thereby creating more opportunities for credit access to cross-border customers across the globe.
Influencing Trend:
Shift to Digital Channels Due to the Increasing Availability and Accessibility of Digital Technologies and Increase in Consumer Demand for Real-Time Convenience with Less Friction
Market Growth Drivers:
Increasing Consumer Demand for Credit Offering and Growing Big Data and Technological Advancements In Finance Sector
Challenges:
Increasing Number of Cybercrimes And Data Breaches in the Financial Sector
Restraints:
Stringent Government Regulations Regarding Consumer Finance
Opportunities:
Rising Opportunities to Offer Fast, Convenient, And More Transparent Services
Key Target Audience
Government Agencies, Financial Institutions, Regulatory Bodies, Potential Investors, Research and Development Institutes, End User Industry and Others