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Microfinance Market to reach USD 423.87 Bn by 2030, emerging at a CAGR of 12.5 percent for (2024-2030)

(IT-NEWSWIRE.COM, April 26, 2024 ) The total global market for the “Microfinance Market” was valued at USD 185.85 Bn in 2023 and is expected to grow at a CAGR of 12.5 percent over the forecast period to reach USD 423.87 Bn by 2030.



Microfinance Market Report Scope and Research Methodology



The Microfinance Market report offers both qualitative and quantitative analyses covering market size, pricing, demand, mergers and acquisitions, supply chain dynamics, investments, and other crucial factors, along with future predictions. Market size estimation employed a Bottom-Up approach, while SWOT analysis dissected the industry's strengths and weaknesses.



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Microfinance Market Dynamics



The growing entrepreneurial spirit, especially in emerging economies, fuels demand for microfinance. Small and medium enterprises (SMEs) require financial support to start or expand their businesses, driving the demand for microloans.



Microfinance Market Regional Insights



In North America, microfinance is experiencing rising demand, particularly in the United States, where it plays a crucial role in fostering entrepreneurship and financial inclusion. Community Development Financial Institutions (CDFIs) and online platforms like Kiva facilitate access to loans, aiding marginalized communities. With significant government support, especially through initiatives like the CDFI Fund and Small Business Administration (SBA) programs, the US leads in promoting economic empowerment and financial inclusion.



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Microfinance Market Segmentation



By Service Type



Group And Individual Micro Credit

Leasing

Micro Investment Funds

Insurance

Savings And Checking Accounts



By Providers



Banks

Non-banks



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Microfinance Key Players include:



Asiasociety

eco-business

Bandhan Bank

BRAC

Grameen Bank

Banco Compartamos

Kiva

e-mfp

European Investment Bank

EIF

Reserved Bank of India

Oliverwyman

Gojo & Company

Greenfinanceplatform

LendingClub



Maximize Market Research is leading Information Technology & Telecommunication research firm, has also published the following reports:



Finance Cloud Market - The Market size is expected to reach USD 117.69 Bn by 2030 at a CAGR of 19.5 percent during the forecast period.



Cryptocurrency Market -The Market size is expected to reach USD 4.88 Bn by 2029 at a CAGR of 12.8 percent during the forecast period.



About Maximize Market Research:



Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and defense and other manufacturing sectors.

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