Digital Transformation in the Microfinance Market: Key Technologies & Players

The latest report published by DataM Intelligence highlights the growth prospects of Microfinance market. The industry expansion is majorly driven by developments in technology across the globe.

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The Global Microfinance Market reached USD 217.6 billion in 2022 and is expected to reach USD 483.6 billion by 2031, growing with a CAGR of 10.5% during the forecast period 2024-2031.

The Microfinance market provides small-scale financial services like loans, savings, and insurance to low-income individuals and entrepreneurs. It plays a crucial role in financial inclusion and poverty alleviation. Growth is driven by increasing demand for accessible credit and digital banking technologies. Government policies and NGO initiatives support market expansion. The sector is evolving with mobile platforms and micro-insurance offerings.

Competitive Evaluation:

Companies covered in this report are Grameen Bank, SKS Microfinance, BRAC, Compartamos Banco, Bandhan Bank, FINCA International, ASA International, Opportunity International, BancoSol and Equitas Small Finance Bank.

The Microfinance Market analysis identifies a number of major market players. It enables companies to understand the strategies and partnerships used by other industry players to combat market competition. The comprehensive market report provides a fascinating microscopic look at the market. Corporations can detect the footprints of manufacturers by learning about demand, the global price of manufacturers, and the global benefit of manufacturing companies.

Key Development

☛ In August 2023, Light Microfinance, a Gujarat-based Non-Banking Financial Company (NBFC), entered into a strategic partnership with IppoPay, a Chennai-based fintech firm. This collaboration aims to enhance digital lending services for micro, small, and medium enterprises (MSMEs) in rural and semi-urban markets across Tamil Nadu, Andhra Pradesh, Telangana, and Karnataka. IppoPay, supported by investors such as Coinbase Ventures and Better Capital, provides payment solutions to around 400,000 merchants. The partnership combines Light Microfinance's lending expertise with IppoPay's fintech platform to offer MSME loans in these underserved regions.

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Microfinance Market Segments

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviors.

✦ By Service: Group and Individual Micro Credit, Leasing, Micro Investment Funds, Insurance, Savings and Checking Accounts, Others

✦ By Provider: Banks, Non-banks

✦ By Institution: Joint Liability Group, Self-Help Group, Grameen Bank Model, Rural Cooperatives

✦ By End-User: Personal, Commercial

Regional Assessment:

Regional analysis includes segmentation based on the geography that accentuates the recent and future demand for Microfinance market across North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The study also focuses on the demand for each application segment over all the prominent regions.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

In terms of geographical analysis, Microfinance Market report provides an in-depth view of:-

∎ Regional level break-up
∎ Leading growth rates
∎ Countries with the largest market share
∎ Market factors
∎ Latest developments
∎ Industry challenges
∎ Regulatory policies
∎ Player strategies

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This report provides a 360-degree synopsis of the competitive scenario of the Microfinance industry. It has enormous awareness joined to the ongoing item and technical improvements in the business sector. It has a thorough analysis of the impact of the potential future development of these headways, a wide-ranging review of those extensions available for future growth.

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.

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This release was published on openPR.