Lending Market Characteristics
The cards and payments market consists of sales of cards and payments services by entities (organizations, sole traders and partnerships) that engage in storing, processing and transmitting payment card data. The card and payments industry includes issuing and acquiring banks, card processing and issuing companies, payment processing institutions such as banks, and non-banking financial corporations. Revenues generated from the cards and payments market include the processing and services fees or commissions levied by the banks and financial institutions for payment processing. This market excludes interest charged by the banks on credit cards or other cards.
Competitive Landscape of the Lending Market
Major players in the global lending market include Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Citigroup Inc., and JP Morgan.
Lending Market Size
The lending market size is expected to reach above $8.6 trillion by 2022, significantly growing at a CAGR of around 7% during the forecast period. The growth in the lending market is due to introduction of additional security features such as EMV, launch of innovative products and rising penetration of contact less cards which are easy to use.
However, the market for lending is expected to face certain restraints from several factors such as digitalization and change in interest rates.
Lending Market Segmentation
The global lending market is further segmented based on type and geography.
By Type - The lending market is segmented into corporate lending, household lending, government lending, among these segments, the corporate lending market accounts for the largest share in the global Hospitality market.
By Geography - The global lending is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific lending market accounts the largest share in the global lending market.
Trends in the Lending Market
Banks adopting digitization in lending, growth in online lending offering new competition for banks, alternative lending gaining traction among users, are the major trends witnessed in the global lending market.
Potential Opportunities in the Lending Market
With increase in positive economic outlook, improved earning capacity, emerging markets growth, the scope and potential for the global lending market is expected to significantly rise in the forecast period.