Global Lending Market Size 2024, Forecast To 2033
11 Mar, 2024
The lending market size has demonstrated strong growth, escalating from $10505.27 billion in 2023 to $11325.13 billion in 2024, marking a robust compound annual growth rate (CAGR) of 7.8%. The historic period's upswing can be attributed to strong economic growth in emerging markets, an increase in internet penetration, a rise in consumer spending, an upsurge in construction activity, and an increase in the number of vehicle loans. Looking forward, the market is poised for strong growth, reaching $15283.24 billion in 2028 with a CAGR of 7.8%. Contributing factors include blockchain penetration across various sectors and increasing higher education. Key trends in the forecast period encompass investing in technologies to offer alternative lending services to boost profit margins, adopting digital technologies for faster approval of commercial loans and thereby enhancing customer satisfaction, increasing the focus on participation lending to reduce risks and increase profitability, investing in LAAS platforms to capitalize on their rising popularity, and implementing artificial intelligence in the operations for cost and time efficiency.
Global Lending Market Key Driver
The surge in the number of small businesses is anticipated to be a driving force behind the lending market's growth. Small businesses, characterized by fewer employees and lower revenue compared to larger enterprises, play a pivotal role in the economic landscape. Lending, facilitating access to loans for businesses in various stages, supports both new investments and increased consumer spending. In August 2022, the US Small Business Administration reported a noteworthy increase in the number of small businesses in the US, reaching 33.2 million in 2022—a rise of 700,000 from the previous year, 2021. This surge in small businesses is a key factor propelling the lending market forward. The market sizes for 2023, 2024, and 2028 reinforce the growth potential of the lending market amid the rise of small businesses.
Get A Free Sample Of The Global Lending Market ReportGlobal Lending Market Segments
The lending market covered in this report is segmented –
1) By Type: Corporate Lending, Household Lending, Government Lending
2) By Interest Rate: Fixed Rate, Floating Rate
3) By Lending Channel: Offline, Online
Subsegments Covered: Working Capital, Short Term - Corporate Lending, Long Term - Corporate Lending, Home Loans, Personal Loans, Other Household Loans, Short Term - Government Lending, Long Term - Government Lending
By Geography:The regions covered in the lending market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
Western Europe was the largest region in the lending market in 2023. Asia-Pacific was the second-largest region in the lending market. The regions covered in the lending market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Lending Industry Players
Industrial and Commercial Bank Of China Ltd. (IDCBY), China Construction Bank Corporation, Agricultural Bank of China, Bank of China ltd, JPMorgan Chase & Co. (JPM), Citi Group, Bank of America (BoA), Wells Fargo & Co., HSBC Holdings plc, BNP Paribas, Lending Kart, WeLab, Industrial and Commercial Bank of China Limited, Citibank (China) Co., Ltd. (CCCL), HSBC, Royal Bank of Scotland, Barclays, Lloyds Banking Group, Standard Chartered, Santander, Nationwide Building Society, Schroders, Close Brothers, Coventry Building Society, Deutsche Bank, Commerzbank, KFW Bankgruppe, DZ Bank, UniCredit Bank AG, NRW bank, Norddeutsche Landesbank, Credit Agricole, Danske Bank A/S, Midas Corporación Financiera S.A, European Investment Bank, Mitsubishi UFJ Financial Group, Bank of Montreal, Royal Bank of Canada (RBC), Business Development Bank of Canada, Borrowell Inc, Clearbanc, CreditSnap Inc, Dealnet Capital, Itáu Unibanco, Caixa Econômica, Celulosa argentina, Ternium argentina, Banco (BCP), BBVA Continental, Scotiabank Peru, Interbank, Red Capital, Maalem Finance Company, MoneyDila, Abu Dhabi Finance, BeeHive, Tarya, Blender, eloan.co.il, CITI, Standard Bank Group, FirstRand, ABSA Group, Nedbank Group, National Bank of Egypt, Attijariwafa Bank, Groupe Banques Populaire.
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Lending Market Overview
Lending is the act of allowing a person or organization to use a sum of money in exchange for an agreement to repay it later, typically with interest.
Lending Global Market Report 2023 provides data on the global lending market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The lending market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.