The Business Research Companyâ€™s Lending Market Report – Opportunities And Strategies – Global Forecast To 2023
LONDON, GREATER LONDON, UK, May 25, 2021 /EINPresswire.com/ — 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.
The major players covered in the global lending market are Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, Citigroup Inc, JP Morgan.
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.
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The global lending market size is expected to grow from $6.04 trillion in 2020 to $6.93 trillion in 2021 at a compound annual growth rate (CAGR) of 14.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $8.81 trillion in 2025 at a CAGR of 6%.
The global lending market is segmented by type into corporate lending, household lending, government lending and by interest rate into fixed rate, floating rate.
Subsegments covered are 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.
The top opportunities in the lending market segmented by type will arise in the household lending segment, which will gain $433.3 billion of global annual sales by 2023. The top opportunities in the lending market segmented by interest rate will arise in the fixed rate segment, which will gain $564.6 billion of global annual sales by 2023. The lending market size will gain the most in India at $169.2 billion.
Lending Market – By Type (Household Lending, Corporate Lending, Government Lending), By Interest Rate (Fixed Rate, Floating Rate) And By Region, Opportunities And Strategies â€“ Global Forecast To 2023 is one of a series of new reports from The Business Research Company that provides lending global market overview, forecast lending market size and growth for the whole market, lending global market segments, and geographies, lending market trends, lending global market drivers, restraints, leading competitorsâ€™ revenues, profiles, and market shares.
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