Global Consumer Finance Market Report 2021: New Entrants are Rapidly Expanding, Including Major Peer-to-Peer Lenders, and Pure Digital Players

DUBLIN, Oct. 4, 2021 /PRNewswire/ — The «Global Consumer Finance Market, By Type (Secured Consumer Finance, Unsecured Consumer Finance), By…

DUBLIN, Oct. 4, 2021 /PRNewswire/ — The «Global Consumer Finance Market, By Type (Secured Consumer Finance, Unsecured Consumer Finance), By Secured Consumer Finance Product Type, By Unsecured Consumer Finance Product Type, By Region, Competition, Forecast & Opportunities, 2026» report has been added to ResearchAndMarkets.com’s offering.

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Global consumer finance market is forecast to grow over a CAGR of 5% in value terms to reach over USD1306.10 billion by 2026

Consumer finance refers to the decisions that households make over time about saving, borrowing, and investing. The global consumer finance market is witnessing consistent growth, owing to the increasing disposable incomes and high economic growth. New entrants are rapidly expanding in this market, including major peer-to-peer lenders, and pure digital players.

The consumer finance market is driven by the fact that consumer lives, and financial situations are rapidly changing. No wonder, the consumer finance industry is one of the synchronized and well-developed sectors among other sectors in the world. It is because of the continuous rise in population and economic development that consumer finance production has experienced continuous growth.

Furthermore, the easy availability of various loans such as home loans, car loans, and education loans from a variety of public and private banks or financial services, as well as the fast processing of loan requests, is expected to boost the global consumer finance market growth.

The global consumer finance market can be segregated into type, secured consumer finance product type, unsecured consumer finance product type, regions, and company. The global consumer finance market is segmented into two broad segments: secured consumer finance and unsecured consumer finance.

Among these, the secured consumer finance market is the dominating segment in comparison to the unsecured consumer finance market which has accounted for more than 65% of the global consumer finance market in 2020. The most popular way to borrow large sums of money is by secured loans. Due to the driving factors such as lower interest rates, higher borrowing limits, longer repayment terms, less financial risk to the lender, etc.

The global secured consumer finance market has been further segmented into housing loans, auto loans, mortgage loans, and others. In 2020, housing loans have accounted for the majority of the market share in the global consumer finance market, due to the factors such as continuously rising demand, affordability of real estate, affordable interest rates, etc. However, an auto loan is expected to increase during the forecast period.

Based on unsecured consumer finance product type, the global consumer finance market is divided into consumer durable finance, personal loan, credit card, home improvement loan, education loan and others. The global consumer finance industry is experiencing profitable growth as a result of changing lifestyles and the increased spending on consumer durables.

Better availability of credit information, manufacturers continuing to provide subventions, and increase in consumer durable product penetration are some of the factors that have aided the growth of consumer durable finance in the global consumer finance market.

Objective of the Study:

  • To analyze the historical growth in the market size of global consumer finance market from 2016 to 2020.
  • To estimate and forecast the market size of global consumer finance market from 2021 to 2026 and growth rate until 2026.
  • To classify and forecast global consumer finance market based on by type, by secured consumer finance product type, by unsecured consumer finance product type, by region and by company.
  • To identify dominant region or segment in the global consumer finance market.
  • To identify drivers and challenges for global consumer finance market.
  • To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in global consumer finance market.
  • To identify and analyze the profile of leading players operating in global consumer finance market.
  • To identify key sustainable strategies adopted by market players in global consumer finance market.

Competitive Landscape

The companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.

Some of the leading players in the global consumer finance market are 

  • JPMorgan Chase & Co.
  • Citigroup, Inc.
  • Wells Fargo & Company
  • BNP Paribas
  • American Express Company
  • HSBC Holdings plc
  • TD Bank, N.A.
  • Berkshire Hathaway Inc.
  • Bank of America Corporation
  • Industrial and Commercial Bank of China

Report Scope:

Years considered for this report:

  • Historical Years: 2016-2019
  • Base Year: 2020
  • Estimated Year: 2021
  • Forecast Period: 2022-2026

Global Consumer Finance Market, By Type:

  • Secured Consumer Finance
  • Unsecured Consumer Finance
  • Global Secured Consumer Finance Market Size, By Product Type:
  • Housing Loan
  • Auto Loan
  • Mortgage Loan
  • Others

Global Unsecured Consumer Finance Market Size, By Product Type:

  • Consumer Durable Finance
  • Personal Loan
  • Credit Card
  • Home Improvement Loan
  • Education Loan
  • Others

Global Consumer Finance Market, By Region:

  • North America
  • USA
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • South America
  • Brazil
  • Argentina
  • Colombia
  • Middle East and Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Kuwait

For more information about this report visit https://www.researchandmarkets.com/r/s9feze

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Research and Markets

Laura Wood, Senior Manager

press@researchandmarkets.com   



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SOURCE Research and Markets