Wilmington, Delaware, Oct. 11, 2024 (GLOBE NEWSWIRE) — Allied Market Research released a report titled: “Global Small Business Loan Marketplace By Loan Type (Small Loans and Micro Loans), Tenure (Short-Term Loans, Medium-Term Loans and Long-Term Loans) and Application (Small, Medium and Large Businesses) – Global Opportunities Analysis and Industry Forecast, 2024 -2032”. The global small business loan market was valued at $2.46 trillion in 2023 and is estimated to reach $7.22 trillion in 2032, with a CAGR of 13.0% between 2024 and 2032.
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Main determinants of growth
The global small business loan market is experiencing growth due to several factors such as the growing number of startups and small businesses, the growing availability of different loan options designed to meet the unique needs of small businesses, and the growing revolution technology in loans. processes. However, strict loan approval processes for small businesses, high compliance costs for lenders, and limited financial literacy among small business owners hamper market growth to some extent. Additionally, growing government support for small businesses through loan guarantee programs, coupled with increasing focus on expanding credit accessibility for underserved populations, offers remunerative opportunities for the expansion of the global small business loan market.
Report coverage and details:
| Report coverage | Details |
| Forecast period | 2024-2032 |
| Base year | 2023 |
| Market size in 2023 | 2.46 trillion dollars |
| Market size in 2032 | 7.22 trillion dollars |
| CAGR | 13.0% |
| No. of pages in the report | 250 |
| Segments covered | Loan type, duration, application and region |
| Drivers |
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| Opportunities |
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| Restrictions |
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The small loan segment is expected to grow faster during the forecast period.
Based on loan type, the small business loan segment held the largest market share in 2023, accounting for nearly two-thirds of the global small business loan market revenue and is likely to maintain its dominance throughout the forecast period. . Demand for small loans is driven by the growing need to arrange short-term financing to manage cash flow, purchase inventory and cover operating expenses, along with the growing number of business renovation and improvement projects. Additionally, the rise of fintech companies and alternative lending platforms has made it easier for small businesses to access small loans, creating significant growth prospects for the small loan segment.
The medium-term loan segment is expected to grow faster during the forecast period.
Based on tenure, the medium-term loan segment held the largest market share in 2023, accounting for around two-fifths of the global small business loan market revenue and is likely to maintain its dominance throughout the forecast period. . This can be attributed to the fact that small businesses may need medium-term loans to refinance existing debt or restructure their liabilities. This facilitates a reduction in monthly payments, locking in lower interest rates or extending the payment period to improve cash flow management. Furthermore, the growing need for equipment financing and growing interest in improving financial forecasts are expected to reduce market demand for loans in the medium term.
The small business segment is expected to grow fastest during the forecast period.
Based on application segment, the small business segment held the largest market share in 2023, accounting for nearly three-fifths of the global small business loan market revenue, and is likely to maintain its dominance throughout the forecast period. . The increasing focus of small businesses on real estate and infrastructure investments, along with the current trend of economic diversification strategies. As economies diversify, small businesses are emerging in new sectors, such as renewable energy, technology startups, and specialized manufacturing. These sectors usually require a significant initial investment, which increases the demand for loans. However, the small business segment is projected to manifest the highest CAGR between 2023 and 2032, due to globalization trends, supportive regulatory frameworks, and technological developments to compete more effectively with larger companies.
North America to keep your domain by 2032
Based on region, North America held the largest market share in terms of revenue in 2023, accounting for almost two-fifths of the global small business loan market revenue, and is expected to lead in terms of revenue throughout. the planned period. The growth is mainly driven by the growing entrepreneurial culture and emergence of startups in this region. Additionally, the emergence of alternative lending institutions, including peer-to-peer lenders and online loan providers, has expanded the availability of credit for small businesses, which may boost market development in this region. Additionally, supportive government policies and economic expansion initiatives are expected to contribute to the growth of the industry across North America.
Players:-
The report provides a detailed analysis of these key players in the global small business loan market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting the business performance, operating segments, product portfolio, and strategic moves of the market players to showcase the competitive scenario.
Key benefits for stakeholders
- This report provides a quantitative analysis of the small business loan market forecast, segments, current trends, estimates and dynamics of the small business loan market analysis from 2023 to 2032 to identify the prevailing opportunities in the small business loan market. small business loans.
- Market research is offered along with information related to key drivers, constraints and opportunities.
- Porter’s five forces analysis highlights the power of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- The in-depth analysis of small business loan market segmentation helps determine the predominant market opportunities.
- Major countries in each region are mapped based on their revenue contribution to the global small business loan market opportunity.
- Positioning of market players facilitates benchmarking and provides a clear understanding of the current position of market players.
- The report includes an analysis of regional and global small business loan market trends, key players, market segments, application areas, and market growth strategies.
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Highlights from the Small Business Loan Market Report
By type of loan
By possession
By application
By region
- North America (USA, Canada)
- Europe (United Kingdom, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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