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Global Consumer Credit Market 2016-2020

  • Published: Oct 2016
  • Pages: 87
  • SKU: IRTNTR10456
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This industry research report identifies BNP Paribas, Citigroup, HSBC, Industrial and Commercial Bank of China (ICBC), and JPMorgan Chase as the key vendors in the global consumer credit market. It also presents a competitive analysis of the market based on geographical regions such as the Americas, APAC, and EMEA. A detailed analysis of all the major factors that drive and challenge market growth is also given in the report.

Overview of the global consumer credit market

According to the consumer credit market insights, market research analysts at Technavio predict that the global consumer credit market will grow steadily during the next four years and post a CAGR of almost 5% by 2020. Benefits such as quicker access to credit are identified to be one of the primary consumer credit market growth factors. Banking institutions mainly provide credit to marginalized borrowers such as SMEs that lack high-quality collateral and long credit histories as they are constantly associated with higher risks and are unable to obtain funds from other financial institutions. To reduce the huge funding and credit gap between large firms, traditional financial institutions have started focusing on addressing the specific needs of potential clients. Small and medium enterprises are in need of credits mainly during their start-up and growth stages as they find it difficult to raise finance due to the unavailability of data about their performance histories. Since consumer banking solutions provide quick access to working capital and help enterprises mitigate credit risks, there will be an exponential increase in the demand for consumer credits in the next four years.

The increasing use of social media channels by consumer credit agencies for better market penetration and customer connectivity will be one of the major factors that will gain traction in this market in the next few years. To enhance their customer base and create awareness about new products and services, consumer banking institutions have to broaden their communication and marketing channels and will soon start using social media platforms to market their products. The use of social media will help financial institutions overcome geographical boundaries and can also be used to launch media campaigns and new product launches. A few financial institutions offering consumer credit services have already started using social media as a platform to collect customer feedback, resolve queries in real-time, provide product updates, and also to drive insight generation and fraud investigations.

Competitive landscape and key vendors

This global market is characterized by the presence of a considerable number of financial institutions such as banks and alternative lenders. The continuous increase in the adoption of cloud services, the prominence of the barcode, and the availability of Bluetooth-based wallet options for customers will increase the level of diversity among different credit options, intensifying the market’s competitive environment. Moreover, the use of social networking platforms to allow customers search, share, and validate alternative resources for online financial solutions, will also intensify the level of competition in the market. A few credit companies have started adopting the trend of collaborating with alternative lenders, which will help them enhance their global presence and improve market shares.

The leading vendors in the market are 

  • BNP Paribas
  • Citigroup
  • HSBC
  • Industrial and Commercial Bank of China (ICBC)
  • JPMorgan Chase

The other prominent vendors in the market are Bank of America, Barclays, China Construction Bank, Deutsche Bank, Mitsubishi UFJ Financial, and Wells Fargo.

Geographical segmentation and analysis of the consumer credit market

  • Americas
  • APAC
  • EMEA

Based on the consumer credit market statistics, the Americas will be the major revenue contributor to the consumer credit market throughout the next four years. Customers in this region have limited access to credit finance. The increase in borrowing power has expanded the scope for consumer and mortgage loans, which mandates the implementation of appropriate finance mechanisms. As a result, financial institutions will start providing customized solutions as per the requirements of their customers. The expected increase in the number of partnerships and acquisitions and the availability of several financial technology start-ups that lend to a huge number of individuals and small businesses with the help of big data analytics will bolster the market’s growth prospects in this region.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global consumer credit market?
  • What are the key market trends impacting the growth of the global consumer credit market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global consumer credit market?
  • What are the market opportunities and threats faced by the vendors in the global consumer credit market?
  • Trending factors influencing the market shares of the Americas, APAC, and EMEA.
  • What are the key outcomes of the five forces analysis of the global consumer credit market?

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Table of Content

PART 01: Executive summary

  • Highlights

PART 02: Scope of  the report

  • Market overview
  • Top-vendor offerings

PART 03: Market research methodology

  • Research methodology
  • Economic indicators

PART 04: Introduction

  • Key market highlights
  • Consumer credit overview

PART 05: Market landscape

  • Market overview
  • Market size and forecast
  • Five forces analysis

PART 06: Geographical segmentation

  • Geographical segmentation
  • Americas
  • EMEA
  • APAC

PART 07: Market drivers

  • Quicker access to credit
  • High economic growth in emerging markets for micro enterprises
  • Portfolio risk solutions

PART 08: Impact of drivers

PART 09: Market challenges

  • Regulatory issues
  • Lack of risk management and inadequate MIS
  • Difficulty in credit assessment and assessing lending risks

PART 10: Impact of drivers and challenges

PART 11: Market trends

  • Big data analytics
  • Leveraging social media channels for better market penetration and customer connectivity
  • New credit scoring approach and collaboration in global marketplace

PART 12: Vendor landscape

  • Competitive landscape
  • Other prominent vendors

PART 13: Key vendor analysis

  • BNP Paribas
  • Citigroup
  • HSBC
  • ICBC
  • JPMorgan Chase

PART 14: Appendix

  • List of abbreviations

PART 15: Explore Technavio

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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