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Consumer Credit Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global consumer credit market reached a value of US$ 10.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 13.96 Billion by 2027, exhibiting at a CAGR of 5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Consumer credit refers to short- and intermediate-term personal loans that are taken by individuals to finance the purchase of commodities and services for personal consumption. A finance fee is charged for the sanction of credit or the extension of existing credit that can be presented in the form of a cash loan or by a seller in the form of sales credit. They are commonly available in the form of non-revolving loans that are repaid in a specific number of payments and revolving loans that include automobile, consumer good, home repair and personal loans.

Significant growth in the banking, financial services and insurance (BFSI) industry is one of the key factors creating a positive outlook for the market. Furthermore, high economic growth for micro-enterprises, especially in developing nations, is also providing a boost to the market growth. Banks and other financial institutions are investing in micro, small and medium enterprises (MSMEs) to minimize the credit gap with local vendors. Additionally, consumer banking professionals are adopting credit data that deals with the information related to cash flows and analytics at the portfolio level. Credit data in such instances aids in managing individual credit cases, real-time pricing and capital management of multi-asset portfolios and minimizing firm-wide risks through consistency, automation, and transparency. Moreover, the increasing use of social media platforms by consumer credit agencies for better market connectivity and penetration is contributing to the market growth. These platforms aid in expanding the consumer base, launching media campaigns, and conducting new product launches.

 

 
 

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global consumer credit market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on credit type, service type, issuer and payment method.

Breakup by Credit Type:

 

 
 

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  • Revolving Credits
  • Non-revolving Credits
     

Breakup by Service Type:

  • Credit Services
  • Software and IT Support Services
     

Breakup by Issuer:

  • Banks and Finance Companies
  • Credit Unions
  • Others
     

Breakup by Payment Method:

  • Direct Deposit
  • Debit Card
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Bank of America, Barclays, BNP Paribas, China Construction Bank, Citigroup, Deutsche Bank, HSBC, Industrial and Commercial Bank of China (ICBC), JPMorgan Chase, Mitsubishi UFJ Financial, Wells Fargo, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Credit Type, Service Type, Issuer, Payment Method, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Bank of America, Barclays, BNP Paribas, China Construction Bank, Citigroup, Deutsche Bank, HSBC, Industrial and Commercial Bank of China (ICBC), JPMorgan Chase, Mitsubishi UFJ Financial and Wells Fargo
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Consumer Credit Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6   Market Breakup by Credit Type
    6.1    Revolving Credits
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Non-revolving Credits
        6.2.1 Market Trends
        6.2.2 Market Forecast 
7   Market Breakup by Service Type
    7.1    Credit Services
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Software and IT Support Services
        7.2.1 Market Trends
        7.2.2 Market Forecast 
8   Market Breakup by Issuer
    8.1    Banks and Finance Companies
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Credit Unions
        8.2.1 Market Trends
        8.2.2 Market Forecast 
    8.3    Others
        8.3.1 Market Trends
        8.3.2 Market Forecast
9   Market Breakup by Payment Method
    9.1    Direct Deposit
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Debit Card
        9.2.1 Market Trends
        9.2.2 Market Forecast 
    9.3    Others
        9.3.1 Market Trends
        9.3.2 Market Forecast
10  Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11  SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14  Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Bank of America
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    Barclays
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    BNP Paribas
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 Financials
           14.3.3.4 SWOT Analysis
        14.3.4    China Construction Bank
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio 
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis 
        14.3.5    Citigroup
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    Deutsche Bank
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    HSBC
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    Industrial and Commercial Bank of China (ICBC)
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
           14.3.8.3 Financials
           14.3.8.4 SWOT Analysis
        14.3.9    JPMorgan Chase
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    Mitsubishi UFJ Financial
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Wells Fargo
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis

List of Figures

Figure 1: Global: Consumer Credit Market: Major Drivers and Challenges
Figure 2: Global: Consumer Credit Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Consumer Credit Market: Breakup by Credit Type (in %), 2021
Figure 4: Global: Consumer Credit Market: Breakup by Service Type (in %), 2021
Figure 5: Global: Consumer Credit Market: Breakup by Issuer (in %), 2021
Figure 6: Global: Consumer Credit Market: Breakup by Payment Method (in %), 2021
Figure 7: Global: Consumer Credit Market: Breakup by Region (in %), 2021
Figure 8: Global: Consumer Credit Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 9: Global: Consumer Credit (Revolving Credits) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Consumer Credit (Revolving Credits) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Consumer Credit (Non-revolving Credits) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Consumer Credit (Non-revolving Credits) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Consumer Credit (Credit Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Consumer Credit (Credit Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Consumer Credit (Software and IT Support Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Consumer Credit (Software and IT Support Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Consumer Credit (Banks and Finance Companies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Consumer Credit (Banks and Finance Companies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Consumer Credit (Credit Unions) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Consumer Credit (Credit Unions) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Consumer Credit (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Consumer Credit (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Consumer Credit (Direct Deposit) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Consumer Credit (Direct Deposit) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Consumer Credit (Debit Card) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Consumer Credit (Debit Card) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Consumer Credit (Others) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Consumer Credit (Others) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: North America: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: North America: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: United States: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: United States: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Canada: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Canada: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Asia Pacific: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Asia Pacific: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: China: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: China: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Japan: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Japan: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: India: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: India: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: South Korea: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: South Korea: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Australia: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Australia: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Indonesia: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Indonesia: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Others: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Others: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Europe: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Europe: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Germany: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Germany: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: France: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: France: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: United Kingdom: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: United Kingdom: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Italy: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Italy: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Spain: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Spain: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Russia: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Russia: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Others: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Others: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Latin America: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Latin America: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Brazil: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Brazil: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Mexico: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Mexico: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Others: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Others: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Middle East and Africa: Consumer Credit Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Middle East and Africa: Consumer Credit Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Global: Consumer Credit Industry: SWOT Analysis
Figure 78: Global: Consumer Credit Industry: Value Chain Analysis
Figure 79: Global: Consumer Credit Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Consumer Credit Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Consumer Credit Market Forecast: Breakup by Credit Type (in Million US$), 2022-2027
Table 3: Global: Consumer Credit Market Forecast: Breakup by Service Type (in Million US$), 2022-2027
Table 4: Global: Consumer Credit Market Forecast: Breakup by Issuer (in Million US$), 2022-2027
Table 5: Global: Consumer Credit Market Forecast: Breakup by Payment Method (in Million US$), 2022-2027
Table 6: Global: Consumer Credit Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Consumer Credit Market Structure
Table 8: Global: Consumer Credit Market: Key Players


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Key Questions Answered in This Report

The global consumer credit market was valued at US$ 10.45 Billion in 2021.

We expect the global consumer credit market to exhibit a CAGR of 5% during 2022-2027.

The rising awareness towards numerous benefits of consumer credit, such as financial flexibility and assistance to borrowers during an emergency, that improves the business of banks and other financial institutions, is primarily driving the global consumer credit market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing demand for short- and intermediate-term personal loans by individuals to finance the purchase of commodities and services for personal consumption, owing to the fluctuating employment levels across several nations.

Based on the credit type, the global consumer credit market has been segmented into revolving credits and non-revolving credits, where non-revolving credits currently hold the majority of the total market share.

Based on the service type, the global consumer credit market can be divided into credit services and software and IT support services. Currently, credit services exhibit a clear dominance in the market.

Based on the issuer, the global consumer credit market has been categorized into banks and finance companies, credit unions, and others. Among these, banks and finance companies currently account for the majority of the global market share.

Based on the payment method, the global consumer credit market can be segregated into direct deposit, debit card, and others. Currently, debit card holds the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global consumer credit market include Bank of America, Barclays, BNP Paribas, China Construction Bank, Citigroup, Deutsche Bank, HSBC, Industrial and Commercial Bank of China (ICBC), JPMorgan Chase, Mitsubishi UFJ Financial, Wells Fargo, etc.

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