Housing Finance Market Scope
Housing finance means loans or mortgages provided to the individuals for purchase, refinance, or improvement of residential property. Increasing urbanization across the globe and rising disposable income of people provide the growth for homeownership that is expected to drive the home financing market growth. Home equity loans are widely used for home restoration, educational expenses like tuition fees or medical expenses, and other personal financial requirements. Further economic growth encourages consumers to invest in real estate which is expected to fuel growth in the global market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
Key Companies Profiled | Wells Fargo & Co. (United States), JP Morgan Chase & Co. (United States), Bank of America Corporation (United States), Citigroup Inc. (United States), Rocket Mortgage, LLC. (United States), HSBC Holdings plc (United Kingdom), Barclays plc (United Kingdom), Santander Group (Spain), UBS (Switzerland), Royal Bank of Canada (RBC) (Canada), Lloyds Banking Group (United Kingdom), ING Group (Netherlands), Standard Chartered plc (United Kingdom), BNP Paribas (France), Mitsubishi UFJ Financial Group (MUFG) (Japan), Sumitomo Mitsui Financial Group (SMFG) (Japan), PNC Financial Services Group (United States), Truist Financial Corporation (United States) and State Street Corporation (United States) |
CAGR | 41.4% |
"According to AMA, the Global Housing Finance market is expected to see growth rate of 41.4% and may see market size of USD33298.0 Billion by 2030."The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States & European Players will contribute to the maximum growth of Global Housing Finance market throughout the predicted period.
Wells Fargo & Co. (United States), JP Morgan Chase & Co. (United States), Bank of America Corporation (United States), Citigroup Inc. (United States), Rocket Mortgage, LLC. (United States), HSBC Holdings plc (United Kingdom), Barclays plc (United Kingdom), Santander Group (Spain), UBS (Switzerland), Royal Bank of Canada (RBC) (Canada), Lloyds Banking Group (United Kingdom), ING Group (Netherlands), Standard Chartered plc (United Kingdom), BNP Paribas (France), Mitsubishi UFJ Financial Group (MUFG) (Japan), Sumitomo Mitsui Financial Group (SMFG) (Japan), PNC Financial Services Group (United States), Truist Financial Corporation (United States) and State Street Corporation (United States) are some of the key players that are part of study coverage.
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 Housing Finance market by Type , by Application (Home Purchase, Refinance, Home Improvement and Others) and Region with country level break-up.
On the basis of geography, the market of Housing Finance 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 2023.
Influencing Trend:
Increasing Technological Advancements and Growing Popularity of Fintech Platforms for Buying Financial Solutions
Market Growth Drivers:
Increasing Urbanization Due to Population’s Migration From Rural Areas to Cities is Expected to Drive the Market and Preference Towards the Housing Finance Companies and Credit Unions for Home Equity Loans Due to Lower Interest Rates As Compared to Banks
Challenges:
Informal Housing Sector in Some Countries and Inadequate Financial Literacy Among People May Hamper the Growth
Restraints:
Stringent Eligibility Criteria for Obtaining Mortgages or Loans and Requirement of High Down Payment
Opportunities:
Initiatives by Government and Implementation of Policies and Programs to Encourage Homeownership
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Housing Finance Providers, Fintech Companies, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and Others