Market Overview:
The global consumer credit market is expected to grow from USD 1,717.5 billion in 2018 to USD 3,521.8 billion by 2030, at a CAGR of 10.4% from 2018 to 2030. The growth of the global consumer credit market can be attributed to the increasing demand for cloud-based and on-premises consumer credit solutions among individuals and enterprises across the globe. Additionally, the growing adoption of big data and analytics technologies is also contributing significantly to the growth of this market.
Product Definition:
Consumer credit is a loan or line of credit granted to an individual for the purchase of goods or services. The purpose of consumer credit is to allow individuals to purchase items that they would not be able to afford if they had to pay for them in cash. Consumer credit can be used for a variety of purposes, including home improvement, vehicle purchases, and education expenses.
The importance of consumer credit cannot be overstated. It allows consumers to make large purchases without having to save up the money first. This can be especially important in times when unemployment rates are high or wages are low. Consumer credit also helps stimulate economic growth by encouraging people to spend money on goods and services.
Cloud:
Cloud is a collection of on-demand services that allow consumers to shop, bank, learn about products and make payments online. It includes three aspects such as Software as a Service (SaaS), Infrastructure as a Service (IaaS) and Platform as a service (PaaS). The major driving factors for the cloud market are increasing demand for scalability & flexibility in data center operations along with cost benefits offered by this technology.
On-premises:
On-premises is a term used for the software and hardware systems that are present in the end-users premises. The system can be a physical server or virtual machine. It is used by Consumer Credit Providers (CCPs) to manage their credit files, which include information such as credit card applications, loan applications, insurance claims and other customer data.
Application Insights:
The individual application segment accounted for the largest share of over 70.0% in 2017. The growth can be attributed to the increasing use of consumer credit cards and other similar instruments by individuals to make payments or purchases from their existing bank accounts. The availability of various payment options, such as e-wallets and mobile payments, has further propelled the adoption rate among individuals across countries globally, especially in developed economies such as U.S., Canada and France where most transactions are done through electronic means these days.
The enterprise application segment is expected to witness significant growth over the forecast period owing to rising demand for flexible working styles coupled with an increase in business travel & expenditure on entertainment activities that require large amounts of cash at short notice periods These factors have led major banks worldwide including Barclays PLC., Citibank NA., Royal Bank Of Scotland Group PLC., JPMorgan Chase & Co.
Regional Analysis:
North America dominated the global market in 2017. The growth of the regional market can be attributed to several factors such as increasing adoption of cloud-based solutions, high internet penetration, and growing consumer demand for credit cards. Furthermore, technological advancements such as Artificial Intelligence (AI), machine learning and predictive analysis are expected to drive the North American regional market over the forecast period.
The Asia Pacific region is anticipated to witness significant growth over the forecast period owing to rising disposable income levels among consumers and businesses in developing countries like China and India. Moreover, a large number of vendors offering services based on consumer credit rating are present in this region which will further fuel its growth during the forecast period.
Growth Factors:
- Increasing urbanization and disposable income: The global population is increasingly moving to cities, where there is more access to jobs, education, and other opportunities. This migration leads to an increase in the number of consumers with higher disposable incomes.
- Rising consumer confidence: Consumer confidence plays a major role in driving spending and borrowing behavior. When consumers feel confident about their financial future, they are more likely to borrow money for larger purchases or take out credit cards for everyday expenses.
- Innovation in payment technologies: With the advent of new payment technologies such as mobile payments and contactless payments, consumers are able to make transactions faster and more easily than ever before. This makes it easier for them to borrow money and spend it on what they want or need.
Scope Of The Report
Report Attributes
Report Details
Report Title
Consumer Credit Market Research Report
By Type
Cloud, On-premises
By Application
Individual, Enterprise, Others
By Companies
BNP Paribas, Citigroup, HSBC, Industrial and Commercial Bank of China (ICBC), JPMorgan Chase, Bank of America, Barclays, China Construction Bank, Deutsche Bank, Mitsubishi UFJ Financial, Wells Fargo
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
145
Number of Tables & Figures
102
Customization Available
Yes, the report can be customized as per your need.
Global Consumer Credit Market Report Segments:
The global Consumer Credit market is segmented on the basis of:
Types
Cloud, On-premises
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Individual, Enterprise, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BNP Paribas
- Citigroup
- HSBC
- Industrial and Commercial Bank of China (ICBC)
- JPMorgan Chase
- Bank of America
- Barclays
- China Construction Bank
- Deutsche Bank
- Mitsubishi UFJ Financial
- Wells Fargo
Highlights of The Consumer Credit Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud
- On-premises
- By Application:
- Individual
- Enterprise
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Consumer Credit Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Consumer credit is a loan or credit agreement that consumers use to purchase goods and services. Consumer credit can come in the form of a bank loan, a personal loan from a friend or family member, or an installment sale contract.
Some of the major players in the consumer credit market are BNP Paribas, Citigroup, HSBC, Industrial and Commercial Bank of China (ICBC), JPMorgan Chase, Bank of America, Barclays, China Construction Bank, Deutsche Bank, Mitsubishi UFJ Financial, Wells Fargo.
The consumer credit market is expected to grow at a compound annual growth rate of 10.4%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Consumer Credit Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Consumer Credit Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Consumer Credit Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Consumer Credit Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Consumer Credit Market Size & Forecast, 2020-2028
4.5.1 Consumer Credit Market Size and Y-o-Y Growth
4.5.2 Consumer Credit Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Cloud
5.2.2 On-premises
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Individual
6.2.2 Enterprise
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Consumer Credit Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Consumer Credit Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Cloud
9.6.2 On-premises
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Individual
9.10.2 Enterprise
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Cloud
10.6.2 On-premises
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Individual
10.10.2 Enterprise
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Cloud
11.6.2 On-premises
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Individual
11.10.2 Enterprise
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Cloud
12.6.2 On-premises
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Individual
12.10.2 Enterprise
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Cloud
13.6.2 On-premises
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Individual
13.10.2 Enterprise
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Consumer Credit Market: Competitive Dashboard
14.2 Global Consumer Credit Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BNP Paribas
14.3.2 Citigroup
14.3.3 HSBC
14.3.4 Industrial and Commercial Bank of China (ICBC)
14.3.5 JPMorgan Chase
14.3.6 Bank of America
14.3.7 Barclays
14.3.8 China Construction Bank
14.3.9 Deutsche Bank
14.3.10 Mitsubishi UFJ Financial
14.3.11 Wells Fargo
