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Microfinance - Global Market Trajectory & Analytics

  • ID: 4805174
  • Report
  • February 2022
  • Region: Global
  • 296 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • 51Give
  • Al Amana Microfinance
  • Annapurna Finance (P) Ltd
  • Bank Rakyat Indonesia
  • BRAC
  • BSS Microfinance Ltd.

Global Microfinance Market to Reach $304.3 Billion by 2026


Microfinance focuses on provisioning of microloans to low-income and unemployed people who do not have access to traditional financial services. Microfinance encompasses a broad range of services including loans, savings, payment and insurance to help the unbanked population in achieving growth and becoming self-sufficient. Following the implementation of the Sustainable Development Goals (SDGs) in 2016, the microfinance industry has been focusing efforts on promoting access not just to credit, but also to agriculture, health, housing, education, energy, and education. Amid the COVID-19 crisis, the global market for Microfinance estimated at US$156.7 Billion in the year 2020, is projected to reach a revised size of US$304.3 Billion by 2026, registering a compounded annual growth rate (CAGR) of 11.9% over the analysis period. Asia-Pacific represents the largest regional market for Microfinance, accounting for an estimated 42.5% share of the global total. The market is projected to reach US$159.6 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 13.6% over the analysis period.

The global microfinance market forecast to witness a strong growth rate in the upcoming years due to increasing number of microenterprises, government efforts to promote microfinance, and lower interest rates. Market growth is being positively influenced by the pivotal role played by microenterprises in driving economic development. Some of the major factors supporting the market expansion are growth of SMEs and lower-income groups, including women across rural areas, their potential to maintain household and social living along with government initiatives to promote fair competition and improve the national payment system. While efforts to serve socially marginalized individuals with quality financial services is driving growth, enhanced risk management, increasing focus on micro-insurance and initiative to raise consumer awareness are creating new growth avenues. Asia-Pacific region represents a key regional market, and growth is influence by factors such as rapid industrialization, strong demand for goods & services, and rising consumer awareness. In addition, the emergence of various Islamic financial services and banks coupled with the issuance of Sukuk is expected to further augment the market growth in the coming years.

Select Competitors (Total 103 Featured) -

  • 51Give
  • Al Amana Microfinance
  • Al-Barakah Microfinance Bank
  • Annapurna Finance (P) Ltd
  • Asirvad Microfinance Pvt. Ltd.
  • Banco do Nordeste do Brasil S.A.
  • Bank Rakyat Indonesia
  • BRAC
  • BSS Microfinance Ltd.
  • Grameen Foundation
  • Kiva
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • 51Give
  • Al Amana Microfinance
  • Annapurna Finance (P) Ltd
  • Bank Rakyat Indonesia
  • BRAC
  • BSS Microfinance Ltd.

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 Pandemic and Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • COVID-19 Impact on the Microfinance Industry
  • Financial Difficulties Facing Microfinance Institutions Worldwide Due to COVID-19 Outbreak: % of MFIs Facing Challenges for Large MFIs and Smaller MFIs
  • Microfinance: Holding Potential to Break the Cycle of Poverty
  • Microfinance Functioning
  • Key Principles Related to Microfinance
  • Key Benefits and Drawbacks of Microfinancing
  • Microfinance Market: Focus on Providing Access to the Unbanked and Alleviate Property Propels Growth
  • Active Borrowers of Microfinance Institutions Continue to Grow
  • Global Microfinance Industry: Number of Active Borrowers in Million for the Years 2010-2018
  • % of Rural Borrowers in Microfinance Institutions (in %) by Geographic Region for 2018
  • Borrower Mix in MFIs: Percentage Breakdown of Active Borrowers by Male and Female Individuals for 2018
  • World Brands
  • Recent Market Activity
  • Microfinance - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 103 Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • As Important Growth Mechanisms for Economic Progress, Microenterprises Emerge as Vital Driver of Growth for MFIs
  • The Large Unbanked Population and Focus on their Financial Inclusion to Stimulate Microfinance Industry: Unbanked Population as a % of Total Population by Region for the Year 2020
  • Global Breakdown of Unbanked Adult Population (in %) by Gender for 2020
  • Top Factors Cited as Barrier to Account Ownership: % of Adults Citing the Reason for Being Unbanked
  • Changing Business Landscape Drives Microenterprises to Review Strategies
  • Microfinance Presents Powerful Tool for Small Businesses & Entrepreneurs to Access Capital
  • Microfinance Industry’s Growing Role in Impact Investments and Achievement of SDGs
  • Growing Importance of Digitalization for Traditional MFIs
  • Rising Adoption of New Technologies to Push Market Growth
  • Mobile Payments Transform Microfinance Industry Landscape
  • Mobile Technology to Play a Vital Role in Expanding Reach of Microfinance: Global Mobile Payments Market in US$ Billion for 2019, 2021, 2023 and 2025
  • Going Digital Represents Inevitable Move for Microfinance Institutions
  • Microfinance Industry Leverages Big Data Analytics to Enable Financial Inclusion
  • Digitization Raises Data Security Concerns
  • Digital Technologies Shape Rural Microfinance Market
  • Enhancing Equity and Accessibility of Digital Microfinance for the Rural Families
  • Artificial Intelligence Poised to Transform the Future of Microfinance
  • Growing Significance of Blockchain-based Microfinance Finance
  • Huge SME Financing Gap Boosts Need for Blockchain-based Microfinance Solutions: World Formal MSMEs Finance Gap (in $ Billion) by Region
  • Islamic Microfinance Emerges as a Vital Tool for Poverty Alleviation in Islamic Nations
  • Global Islamic Finance Market by Segment (in %) for 2020
  • Large Commercial Banks Venture into Microfinance Market, Presenting Opportunities and Challenges for Existing Players
  • Microinsurance Products: Providing Insurance Coverage to Low Income Customers
  • Addressing the Risks of Climate Change with Microfinance
  • Rising Carbon Dioxide Emissions an Indication of Climate Change: Global CO2 Concentrations (in ppm) for the Years 2000-2100
  • Microfinance along with Macrofinance Holds Critical Significance in Financial Realm
  • Emergence of For-Profit Microfinance Institutions Draws Criticism
  • Microfinance Institutions to Embrace Hybrid Model
  • Microfinance Providers to Collaborate with Fintechs
  • Key Issues Faced by Microfinance Industry
  • Notable Microfinance Networks: A Review

4. GLOBAL MARKET PERSPECTIVE

TABLE 1: World Recent Past, Current & Future Analysis for Microfinance by Geographic Region - China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Lending in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 2: World Historic Review for Microfinance by Geographic Region - China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 3: World 15-Year Perspective for Microfinance by Geographic Region - Percentage Breakdown of Value Lending for China, Europe, Asia-Pacific, Latin America and Rest of World Markets for Years 2012, 2021 & 2027
TABLE 4: World Recent Past, Current & Future Analysis for Banks by Geographic Region - China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Lending in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 5: World Historic Review for Banks by Geographic Region - China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 6: World 15-Year Perspective for Banks by Geographic Region - Percentage Breakdown of Value Lending for China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2012, 2021 & 2027
TABLE 7: World Recent Past, Current & Future Analysis for Non-Banks by Geographic Region - China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Lending in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 8: World Historic Review for Non-Banks by Geographic Region - China, Europe, Asia-Pacific, Latin America and Rest of World Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 9: World 15-Year Perspective for Non-Banks by Geographic Region - Percentage Breakdown of Value Lending for China, Europe, Asia-Pacific, Latin America and Rest of World for Years 2012, 2021 & 2027

III. MARKET ANALYSIS

CHINA

  • Microfinance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
TABLE 10: China Recent Past, Current & Future Analysis for Microfinance by Institution Type - Banks and Non-Banks - Independent Analysis of Annual Lending in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 11: China Historic Review for Microfinance by Institution Type - Banks and Non-Banks Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 12: China 15-Year Perspective for Microfinance by Institution Type - Percentage Breakdown of Value Lending for Banks and Non-Banks for the Years 2012, 2021 & 2027

EUROPE

  • Microfinance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Microfinance Market in Europe: An Overview
  • Microcredit Industry in France: An Overview
TABLE 13: Europe Recent Past, Current & Future Analysis for Microfinance by Institution Type - Banks and Non-Banks - Independent Analysis of Annual Lending in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 14: Europe Historic Review for Microfinance by Institution Type - Banks and Non-Banks Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 15: Europe 15-Year Perspective for Microfinance by Institution Type - Percentage Breakdown of Value Lending for Banks and Non-Banks for the Years 2012, 2021 & 2027

ASIA-PACIFIC

  • Microfinance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
TABLE 16: Asia-Pacific Recent Past, Current & Future Analysis for Microfinance by Geographic Region - Bangladesh, India, Indonesia, Vietnam and Rest of Asia-Pacific Markets - Independent Analysis of Annual Lending in US$ Million for Years 2020 through 2027 and % CAGR
TABLE 17: Asia-Pacific Historic Review for Microfinance by Geographic Region - Bangladesh, India, Indonesia, Vietnam and Rest of Asia-Pacific Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 18: Asia-Pacific 15-Year Perspective for Microfinance by Geographic Region - Percentage Breakdown of Value Lending for Bangladesh, India, Indonesia, Vietnam and Rest of Asia-Pacific Markets for Years 2012, 2021 & 2027
TABLE 19: Asia-Pacific Recent Past, Current & Future Analysis for Microfinance by Institution Type - Banks and Non-Banks - Independent Analysis of Annual Lending in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 20: Asia-Pacific Historic Review for Microfinance by Institution Type - Banks and Non-Banks Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 21: Asia-Pacific 15-Year Perspective for Microfinance by Institution Type - Percentage Breakdown of Value Lending for Banks and Non-Banks for the Years 2012, 2021 & 2027

BANGLADESH

TABLE 22: Bangladesh Recent Past, Current & Future Analysis for Microfinance by Institution Type - Banks and Non-Banks - Independent Analysis of Annual Lending in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 23: Bangladesh Historic Review for Microfinance by Institution Type - Banks and Non-Banks Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 24: Bangladesh 15-Year Perspective for Microfinance by Institution Type - Percentage Breakdown of Value Lending for Banks and Non-Banks for the Years 2012, 2021 & 2027

INDIA

  • Microfinance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Microfinance Sector Hit by the COVID-19 Outbreak
  • Small Borrowers Face Tough Times Due to COVID-19 Pandemic: % Change in Value of Loan Disbursed by MFIs in India for Apr-Jun and Jul-Sep 2020
  • Long-term Growth in the Microfinance Market Remains Promising
  • Indian Microfinance Market Poised to Witness More Consolidation
  • A Peek into Microfinance Providers in the Indian Microlending Landscape
  • Primary Challenges Affecting Competitiveness of Microfinance Institutions in India
TABLE 25: India Recent Past, Current & Future Analysis for Microfinance by Institution Type - Banks and Non-Banks - Independent Analysis of Annual Lending in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 26: India Historic Review for Microfinance by Institution Type - Banks and Non-Banks Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 27: India 15-Year Perspective for Microfinance by Institution Type - Percentage Breakdown of Value Lending for Banks and Non-Banks for the Years 2012, 2021 & 2027

INDONESIA

TABLE 28: Indonesia Recent Past, Current & Future Analysis for Microfinance by Institution Type - Banks and Non-Banks - Independent Analysis of Annual Lending in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 29: Indonesia Historic Review for Microfinance by Institution Type - Banks and Non-Banks Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 30: Indonesia 15-Year Perspective for Microfinance by Institution Type - Percentage Breakdown of Value Lending for Banks and Non-Banks for the Years 2012, 2021 & 2027

VIETNAM

TABLE 31: Vietnam Recent Past, Current & Future Analysis for Microfinance by Institution Type - Banks and Non-Banks - Independent Analysis of Annual Lending in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 32: Vietnam Historic Review for Microfinance by Institution Type - Banks and Non-Banks Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 33: Vietnam 15-Year Perspective for Microfinance by Institution Type - Percentage Breakdown of Value Lending for Banks and Non-Banks for the Years 2012, 2021 & 2027

REST OF ASIA-PACIFIC

TABLE 34: Rest of Asia-Pacific Recent Past, Current & Future Analysis for Microfinance by Institution Type - Banks and Non-Banks - Independent Analysis of Annual Lending in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 35: Rest of Asia-Pacific Historic Review for Microfinance by Institution Type - Banks and Non-Banks Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 36: Rest of Asia-Pacific 15-Year Perspective for Microfinance by Institution Type - Percentage Breakdown of Value Lending for Banks and Non-Banks for the Years 2012, 2021 & 2027

LATIN AMERICA

  • Microfinance Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
TABLE 37: Latin America Recent Past, Current & Future Analysis for Microfinance by Institution Type - Banks and Non-Banks - Independent Analysis of Annual Lending in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 38: Latin America Historic Review for Microfinance by Institution Type - Banks and Non-Banks Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 39: Latin America 15-Year Perspective for Microfinance by Institution Type - Percentage Breakdown of Value Lending for Banks and Non-Banks for the Years 2012, 2021 & 2027

REST OF WORLD

TABLE 40: Rest of World Recent Past, Current & Future Analysis for Microfinance by Institution Type - Banks and Non-Banks - Independent Analysis of Annual Lending in US$ Million for the Years 2020 through 2027 and % CAGR
TABLE 41: Rest of World Historic Review for Microfinance by Institution Type - Banks and Non-Banks Markets - Independent Analysis of Annual Lending in US$ Million for Years 2012 through 2019 and % CAGR
TABLE 42: Rest of World 15-Year Perspective for Microfinance by Institution Type - Percentage Breakdown of Value Lending for Banks and Non-Banks for the Years 2012, 2021 & 2027

IV. COMPETITION

  • Total Companies Profiled: 103
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • 51Give
  • Al Amana Microfinance
  • Al-Barakah Microfinance Bank
  • Annapurna Finance (P) Ltd
  • Asirvad Microfinance Pvt. Ltd.
  • Banco do Nordeste do Brasil S.A.
  • Bank Rakyat Indonesia
  • BRAC
  • BSS Microfinance Ltd.
  • Grameen Foundation
  • Kiva
Note: Product cover images may vary from those shown