Global Microfinance Market Report 2023: Soaring Availability of Microfinance Services in Digital and Mobile-Based Payment Models Fuels Growth

DUBLIN, May 10, 2023 /PRNewswire/ -- The "Global Microfinance Market by Service (Group & Individual Micro Credit, Insurance, Leasing), Providers (Banks, Non-Banks) - Cumulative Impact of High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The Global Microfinance Market size was estimated at USD 184.86 billion in 2022, USD 202.27 billion in 2023, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 10.49% to reach USD 410.78 billion by 2030.

Market Dynamics

Drivers

• Surging Need for Short-Term & Small-Scale Financing Among Low-Income Individuals and Small Enterprise Owners
• Government Initiatives Encouraging the Establishment of Microfinance Institutions and Services
• Soaring Availability of Microfinance Services in Digital and Mobile-Based Payment Models

Restraints

• High Incidence of Fraud Activities in Microfinancing Services Due to Limited Internal Monitoring

Opportunities

• Expanding Funding Opportunities for Microfinance Startups Aiming to Develop New Software Based on Ai & Bigdata
• Potential Amalgamation of Blockchain Technology and Microfinance Services

Challenges

• Stringent Regulations & Standards on Microfinance Concerning Reserve Requirements, Loan Loss Provisions, and Loan Documentation

Market Segmentation & Coverage:

This research report categorizes the Global Microfinance Market in order to forecast the revenues and analyze trends in each of following sub-markets:

• Based on Service, market is studied across Group & Individual Micro Credit, Insurance, Leasing, Micro Investment Funds, and Savings & Checking Accounts. The Group & Individual Micro Credit commanded largest market share of 27.91% in 2022, followed by Savings & Checking Accounts.
• Based on Providers, market is studied across Banks and Non-Banks. The Banks commanded largest market share of 56.77% in 2022, followed by Non-Banks.
• Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 35.25% in 2022, followed by Americas.

Market Statistics:

The report provides market sizing and forecasts across 7 major currencies - USD, EUR, JPY, GBP, AUD, CAD, and CHF; multiple currency support helps organization leaders to make well-informed decisions. In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.

FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Global Microfinance Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Microfinance Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Microfinance Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Microfinance Market?
4. What is the competitive strategic window for opportunities in the Global Microfinance Market?
5. What are the technology trends and regulatory frameworks in the Global Microfinance Market?
6. What is the market share of the leading vendors in the Global Microfinance Market?
7. What modes and strategic moves are considered suitable for entering the Global Microfinance Market?

Key Topics Covered:

1. Preface

2. Research Methodology

3. Executive Summary

4. Market Overview

5. Market Insights

6. Microfinance Market, by Service
6.1. Introduction
6.2. Group & Individual Micro Credit
6.3. Insurance
6.4. Leasing
6.5. Micro Investment Funds
6.6. Savings & Checking Accounts

7. Microfinance Market, by Providers
7.1. Introduction
7.2. Banks
7.3. Non-Banks

8. Americas Microfinance Market

9. Asia-Pacific Microfinance Market

10. Europe, Middle East & Africa Microfinance Market

11. Competitive Landscape

12. Company Usability Profiles

13. Appendix

Companies Mentioned

• Al-Barakah Microfinance Bank
• Annapurna Finance (P) Ltd.
• Asirvad Micro Finance Limited
• Banco do Nordeste do Brasil S.A.
• Belstar Microfinance Limited
• Bopa Microfinance
• BRAC
• BSS Microfinance Limited
• Cashpor Micro Credit
• Citigroup, Inc.
• Equitas Small Finance
• Fusion Micro Finance Ltd.
• GC Business Finance
• Gojo & Company
• Grameen America Inc.
• IndusInd Bank Ltd.
• JPMorgan Chase & Co.
• Khushhali Bank
• Kiva
• LiftFund
• Madura Microfinance Ltd.
• Microfinance Ireland DAC
• Microlend Australia Ltd.
• NRSP Microfinance Bank
• PT.Bank Rakyat Indonesia (Persero) Tbk.

For more information about this report visit https://www.researchandmarkets.com/r/wec4o4

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