Global Lending Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
5 Jan, 2021
The lending market consists of sales of lending services (loans) by entities (organizations, sole traders and partnerships) engaged in making secured or unsecured loans to borrowing entities. Lending entities include establishments such as finance companies, personal credit institutions, loan companies and student loans companies. The market covers all types of loans including mortgages, personal loans, working capital loans, vehicle loans and commercial loans.
Global Lending Market Size And Drivers:
The global lending market reached a value of nearly $6,875.4 billion in 2019, having increased at a compound annual growth rate (CAGR) of 4.9% since 2015. The market is expected to decline from $6,875.4 billion in 2019 to $6,751.2 billion in 2020 at a rate of -1.8%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 5.5% from 2021 and reach $7,929.0 billion in 2023. During the historic period, changes in consumer spending behavior drove the market for lending.
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Trends In The Global Lending Market
Alternative lending is gaining traction globally. Alternative lending involves giving loans to individuals and businesses who cannot access loans through traditional banking platforms. Alternative lending is becoming popular mainly as offering commercial loans to small businesses is often deemed unprofitable by traditional banks. Alternative lenders rely on advanced technologies such as big data to obtain data-driven insights, which can be used to quicken the overall lending process. This allows alternative lenders to earn profits on loans, which are conventionally considered unprofitable by traditional lenders. Examples of alternative lenders include Lending Club and OnDeck.
Global Lending Market Segments:
The global lending market is further segmented based on type, interest rate and geography.
By Type: Household Lending, Corporate Lending, Government Lending.
By Interest Rate: Fixed Rate, Floating Rate.
By Geography: The global lending market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the Western Europe lending market accounts for the largest share of over 35.4% in the global lending market.
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Lending Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides lending market overviews, analyzes and forecasts market size and growth for the global lending market, lending market share, lending market players, lending market segments and geographies, lending market’s leading competitors’ revenues, profiles and market shares. The lending market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.