Microfinance Market Analysis APAC, South America, North America, Europe, Middle East and Africa - Mexico, China, India, France, Peru - Size and Forecast 2024-2028

Published: Oct 2023 Pages: 162 SKU: IRTNTR71352

Microfinance Market Forecast 2024-2028

The global microfinance market size is estimated to grow by USD 166.95 billion, at a CAGR of 12.86% between 2023 and 2028. The market provides financial services, such as small loans and savings opportunities, to low-income individuals and underserved communities. Microfinance institutions (MFIs) play a vital role in serving the needs of those who lack access to traditional banking services. The growth of the market depends on several factors such as the emergence of social media associated with growing digital connectivity, quick and easy access to credit, and increased focus on cost optimization and scaling computation This report also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.

What will be the Size of the Microfinance Market During the Forecast Period?

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Market Dynamics

Savings and credit facilities are pivotal in developing financial resilience among individuals, especially in low-income communities. Through digital platforms and initiatives led by the government, efforts towards financial inclusion are gaining momentum. Microfinance institutions offer loans and microloans tailored to the needs of underserved populations, fostering economic empowerment.

Key Market Driver

Quick and easy access to credit is notably driving the market. They provide quick and easy access to credit, unlike traditional financial institutions, which may take more than a day to complete the paperwork for the loan application. If the financial institution accepts the application, it may take another few weeks or months before the credit is authorized and transferred. Many banks have policies that restrict them from providing loans to certain businesses, such as restaurants and clinics. They cater to such businesses by providing quick and easy access to credit. 

In addition, the advent of these platforms enhanced the ease of obtaining loans. Hence, the popularity of these platforms is increasing. Owing to such factors, the market in focus is expected to witness growth during the forecast period.

Significant Market Trends

Rapid growth in APAC is an emerging trend shaping the market. These institutions, including P2P lending, crowdfunding, and invoice trading, are growing in APAC due to the presence of several SMEs. The number of SMEs has increased significantly in Asian countries. For instance, the number of SMEs in China was approximately 18.07 million by the end of 2018. Similarly, according to the data published by the Ministry of Micro, Small and Medium Enterprises (MSMEs) of India, as of March 2020, there were 63.3 million (6.33 Crore) SMEs present across India. The growing number of SMEs in APAC is increasing the demand for micro-financial services for business growth.

Moreover, these solutions and service providers are helping SMEs by strengthening access to credit and equity, which enables SMEs to invest. Moreover, growing Internet penetration, coupled with the use of smartphones, is encouraging people in APAC to use P2P lending and crowdfunding platforms. This is expected to propel the growth of the global market during the forecast period. 

Major Market Challenge

Lack of awareness of financial services is a significant challenge hindering the market. These institutions are majorly beneficial for low-income groups. However, the MFIs face major challenges due to the lack of awareness among the population about financial services. Moreover, MFIs are the most common source of financial services in low-income and developing countries where the literacy rate is limited. This results in a lack of knowledge about financial services among the group or population. Most MFI customers do not have sufficient knowledge of how these work. Many of them don't even understand the loan process.

On the other hand, many MFI representatives at the field service level do not know the rules and regulations. As a result, lack of awareness is becoming a key challenge in microfinance operations, which negatively impacts the global market during the forecast period.

Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their strategies.

Global Market Customer Landscape

Who are the Major Microfinance Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Access Microfinance Holding AG - The company offers microfinance-established new MFIs together with other partners and transformed existing non-bank microlending institutions into full-service microfinance banks.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

  • Accion International
  • Al Amana Microfinance
  • AL BARAKAH MICROFINANCE BANK
  • Annapurna Finance P Ltd.
  • Asirvad Microfinance Ltd
  • Bandhan Bank Ltd.
  • CDC Small Business Finance
  • DEVAID Ltd.
  • FINCA International Inc.
  • GENTERA S.A.B. de C.V.
  • Grameen Foundation
  • IndusInd Bank Ltd.
  • Kiva Microfunds
  • Kotak Mahindra Bank Ltd.
  • Opportunity International
  • Pacific Community Ventures
  • PT Bank Rakyat Indonesia Persero Tbk
  • Stichting BRAC International
  • IGP Advantag AG

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Segmentation

In the realm of financial services, micro finance stands out for its flexibility in repayment time and accessibility compared to traditional lending practices. Finance institutes like Cashpor Micro and CDC Business empower underserved communities through community ventures and innovative approaches. Leveraging advanced technology, these organizations enhance efficiency and outreach while bolstering borrowers' bargaining power. The success of such initiatives underscores the importance of microfinance in promoting economic growth and financial inclusion.

By Type

The banks segment is estimated to witness significant growth during the forecast period. These banks (MFBs) are referred to as general financial services, including loans, saving accounts, and insurance for people with low income. These banks are majorly established by individuals, groups of individuals, community development associations, private corporate entities, or foreign investors. 

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The banks segment was the largest segment and was valued at USD 75.88 billion in 2018. These banks significantly target economically poor clients, low-income households, and unbanked people, including the most vulnerable groups such as women, youths, physically challenged, and informal sector operators, such as micro-entrepreneurs and subsistence farmers. In developing countries, such as India and Nigeria, people from low-income groups prefer to avail the services of these banks. The primary motive for the formation of RRBs was to offer end-to-end development to the rural economy. Moreover, the need to provide easy credit and offer small loans to customers without any collateral further increases the preference for MFBs among people. Owing to such factors, the adoption of banks is expected to increase microfinancing, which, in turn, will drive the growth of the market in focus during the forecast period.

Key Regions

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APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The increasing penetration of the Internet and smartphones, the rapid growth of social media, the increasing number of SMEs and startups, the rising adoption of online platforms for lending, and the presence of global and regional companies are contributing to the growth of the market in APAC. The number of SMEs has increased significantly in APAC.

Moreover, major financial institutions decline to lend to startups due to a lack of credit information or poor credit history. In such cases, these services help small borrowers borrow money with low creditability. Hence, easy access to microloans for startups and small individual borrowers is propelling the demand in APAC. This is fostering the growth of the market in the region during the forecast period. 

Market Analyst Overview

This market plays a pivotal role in enhancing financial inclusion by providing access to financial services to low-income individuals and small businesses who are often excluded from traditional banking systems. By offering conventional banking services tailored to the needs of low-income populations, microfinance contributes significantly to poverty alleviation and empowerment. Microfinance institutions provide a range of services including payment solutions, small business loans, and financial security measures. This helps in reducing the impact of rural-urban migration by providing opportunities for economic growth in rural areas. As digital payment systems and digital banking services become more prevalent, the scope of microfinance is expanding, leading to an increase in financial inclusion and overall economic development.

Institutions like the Grameen Bank have pioneered this model, impacting millions worldwide. With microcredit and micro-investment opportunities, the market bridges gaps in the finance sector, providing capital to underserved communities. As investment pours into microfinance markets, it fosters economic growth and empowers individuals and small businesses, thus playing a crucial role in financial inclusion efforts globally.

In the market, the aim is to empower individuals and businesses across the world by providing access to financial products and services tailored to their needs. Through innovative solutions and advance technology, microfinance institutions reach underserved populations, offering a lifeline for entrepreneurship and economic growth. However, the success of these initiatives often hinges on sufficient funding and support from finance institutes, which play a crucial role in sustaining and expanding microfinance operations worldwide. By bridging the gap between financial inclusion and economic development, the global microfinance sector continues to make significant strides in transforming lives and communities around the world.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • Type Outlook 
    • Banks
    • Non-banks
  • End-user Outlook 
    • Small enterprises
    • Solo entrepreneurs
    • Micro entrepreneurs
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • South America
      • Chile 
      • Brazil
      • Argentina 
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Microfinance Market Scope

Report Coverage

Details

Page number

162

Base year

2023

Historic period

 2018 - 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 12.86%

Market Growth 2024-2028

USD 166.95 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

10.68

Regional analysis

APAC, South America, North America, Europe, and Middle East and Africa

Performing market contribution

APAC at 45%

Key countries

Mexico, China, India, France, and Peru

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Access Microfinance Holding AG, Accion International, Al Amana Microfinance, AL BARAKAH MICROFINANCE BANK, Annapurna Finance P Ltd., Asirvad Microfinance Ltd, Bandhan Bank Ltd., CDC Small Business Finance, DEVAID Ltd., FINCA International Inc., GENTERA S.A.B. de C.V., Grameen Foundation, IndusInd Bank Ltd., Kiva Microfunds, Kotak Mahindra Bank Ltd., Opportunity International, Pacific Community Ventures, PT Bank Rakyat Indonesia Persero Tbk, Stichting BRAC International, and IGP Advantag AG

Market dynamics

Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
  • Precise estimation of the size of the market size and its contribution to the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
  • Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global microfinance market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global microfinance market 2018 - 2022 ($ billion)
    • 4.2 Type Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Type Segment 2018 - 2022 ($ billion)
    • 4.3 End-user Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – End-user Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on Type - Market share 2023-2028 (%)
    • 6.2 Comparison by Type
      • Exhibit 32: Chart on Comparison by Type
      • Exhibit 33: Data Table on Comparison by Type
    • 6.3 Banks - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Banks - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Data Table on Banks - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 36: Chart on Banks - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Banks - Year-over-year growth 2023-2028 (%)
    • 6.4 Non-banks - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Non-banks - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Data Table on Non-banks - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 40: Chart on Non-banks - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Non-banks - Year-over-year growth 2023-2028 (%)
    • 6.5 Market opportunity by Type
      • Exhibit 42: Market opportunity by Type ($ billion)
      • Exhibit 43: Data Table on Market opportunity by Type ($ billion)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 44: Chart on End-user - Market share 2023-2028 (%)
      • Exhibit 45: Data Table on End-user - Market share 2023-2028 (%)
    • 7.2 Comparison by End-user
      • Exhibit 46: Chart on Comparison by End-user
      • Exhibit 47: Data Table on Comparison by End-user
    • 7.3 Small enterprises - Market size and forecast 2023-2028
      • Exhibit 48: Chart on Small enterprises - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 49: Data Table on Small enterprises - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 50: Chart on Small enterprises - Year-over-year growth 2023-2028 (%)
      • Exhibit 51: Data Table on Small enterprises - Year-over-year growth 2023-2028 (%)
    • 7.4 Solo entrepreneurs - Market size and forecast 2023-2028
      • Exhibit 52: Chart on Solo entrepreneurs - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 53: Data Table on Solo entrepreneurs - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 54: Chart on Solo entrepreneurs - Year-over-year growth 2023-2028 (%)
      • Exhibit 55: Data Table on Solo entrepreneurs - Year-over-year growth 2023-2028 (%)
    • 7.5 Micro entrepreneurs - Market size and forecast 2023-2028
      • Exhibit 56: Chart on Micro entrepreneurs - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 57: Data Table on Micro entrepreneurs - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 58: Chart on Micro entrepreneurs - Year-over-year growth 2023-2028 (%)
      • Exhibit 59: Data Table on Micro entrepreneurs - Year-over-year growth 2023-2028 (%)
    • 7.6 Market opportunity by End-user
      • Exhibit 60: Market opportunity by End-user ($ billion)
      • Exhibit 61: Data Table on Market opportunity by End-user ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 63: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 64: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 65: Chart on Geographic comparison
      • Exhibit 66: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 67: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 68: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 69: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 70: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 South America - Market size and forecast 2023-2028
      • Exhibit 71: Chart on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 72: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 73: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 74: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.5 North America - Market size and forecast 2023-2028
      • Exhibit 75: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 76: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 77: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 78: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.6 Europe - Market size and forecast 2023-2028
      • Exhibit 79: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 80: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 81: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.7 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.8 China - Market size and forecast 2023-2028
      • Exhibit 87: Chart on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 88: Data Table on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 89: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.9 Peru - Market size and forecast 2023-2028
      • Exhibit 91: Chart on Peru - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 92: Data Table on Peru - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 93: Chart on Peru - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on Peru - Year-over-year growth 2023-2028 (%)
    • 9.10 India - Market size and forecast 2023-2028
      • Exhibit 95: Chart on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 96: Data Table on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 97: Chart on India - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on India - Year-over-year growth 2023-2028 (%)
    • 9.11 Mexico - Market size and forecast 2023-2028
      • Exhibit 99: Chart on Mexico - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 100: Data Table on Mexico - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 101: Chart on Mexico - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on Mexico - Year-over-year growth 2023-2028 (%)
    • 9.12 France - Market size and forecast 2023-2028
      • Exhibit 103: Chart on France - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 104: Data Table on France - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 105: Chart on France - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on France - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 107: Market opportunity by geography ($ billion)
      • Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 109: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 111: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 112: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 113: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 114: Matrix on vendor position and classification
            • 12.3 Access Microfinance Holding AG
              • Exhibit 115: Access Microfinance Holding AG - Overview
              • Exhibit 116: Access Microfinance Holding AG - Product / Service
              • Exhibit 117: Access Microfinance Holding AG - Key offerings
            • 12.4 Accion International
              • Exhibit 118: Accion International - Overview
              • Exhibit 119: Accion International - Product / Service
              • Exhibit 120: Accion International - Key offerings
            • 12.5 Al Amana Microfinance
              • Exhibit 121: Al Amana Microfinance - Overview
              • Exhibit 122: Al Amana Microfinance - Product / Service
              • Exhibit 123: Al Amana Microfinance - Key offerings
            • 12.6 AL BARAKAH MICROFINANCE BANK
              • Exhibit 124: AL BARAKAH MICROFINANCE BANK - Overview
              • Exhibit 125: AL BARAKAH MICROFINANCE BANK - Product / Service
              • Exhibit 126: AL BARAKAH MICROFINANCE BANK - Key offerings
            • 12.7 Annapurna Finance P Ltd.
              • Exhibit 127: Annapurna Finance P Ltd. - Overview
              • Exhibit 128: Annapurna Finance P Ltd. - Product / Service
              • Exhibit 129: Annapurna Finance P Ltd. - Key offerings
            • 12.8 Asirvad Microfinance Ltd
              • Exhibit 130: Asirvad Microfinance Ltd - Overview
              • Exhibit 131: Asirvad Microfinance Ltd - Product / Service
              • Exhibit 132: Asirvad Microfinance Ltd - Key offerings
            • 12.9 Bandhan Bank Ltd.
              • Exhibit 133: Bandhan Bank Ltd. - Overview
              • Exhibit 134: Bandhan Bank Ltd. - Product / Service
              • Exhibit 135: Bandhan Bank Ltd. - Key offerings
            • 12.10 DEVAID Ltd.
              • Exhibit 136: DEVAID Ltd. - Overview
              • Exhibit 137: DEVAID Ltd. - Product / Service
              • Exhibit 138: DEVAID Ltd. - Key offerings
            • 12.11 Grameen Foundation
              • Exhibit 139: Grameen Foundation - Overview
              • Exhibit 140: Grameen Foundation - Product / Service
              • Exhibit 141: Grameen Foundation - Key offerings
            • 12.12 IGP Advantag AG
              • Exhibit 142: IGP Advantag AG - Overview
              • Exhibit 143: IGP Advantag AG - Product / Service
              • Exhibit 144: IGP Advantag AG - Key offerings
            • 12.13 IndusInd Bank Ltd.
              • Exhibit 145: IndusInd Bank Ltd. - Overview
              • Exhibit 146: IndusInd Bank Ltd. - Business segments
              • Exhibit 147: IndusInd Bank Ltd. - Key offerings
              • Exhibit 148: IndusInd Bank Ltd. - Segment focus
            • 12.14 Kiva Microfunds
              • Exhibit 149: Kiva Microfunds - Overview
              • Exhibit 150: Kiva Microfunds - Product / Service
              • Exhibit 151: Kiva Microfunds - Key offerings
            • 12.15 Kotak Mahindra Bank Ltd.
              • Exhibit 152: Kotak Mahindra Bank Ltd. - Overview
              • Exhibit 153: Kotak Mahindra Bank Ltd. - Business segments
              • Exhibit 154: Kotak Mahindra Bank Ltd. - Key offerings
              • Exhibit 155: Kotak Mahindra Bank Ltd. - Segment focus
            • 12.16 PT Bank Rakyat Indonesia Persero Tbk
              • Exhibit 156: PT Bank Rakyat Indonesia Persero Tbk - Overview
              • Exhibit 157: PT Bank Rakyat Indonesia Persero Tbk - Business segments
              • Exhibit 158: PT Bank Rakyat Indonesia Persero Tbk - Key offerings
              • Exhibit 159: PT Bank Rakyat Indonesia Persero Tbk - Segment focus
            • 12.17 Stichting BRAC International
              • Exhibit 160: Stichting BRAC International - Overview
              • Exhibit 161: Stichting BRAC International - Business segments
              • Exhibit 162: Stichting BRAC International - Key offerings
              • Exhibit 163: Stichting BRAC International - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 164: Inclusions checklist
                • Exhibit 165: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 166: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 167: Research methodology
                • Exhibit 168: Validation techniques employed for market sizing
                • Exhibit 169: Information sources
              • 13.5 List of abbreviations
                • Exhibit 170: List of abbreviations

              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.

              INFORMATION 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

              DATA 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

              REPORT 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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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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