Published on : Jul 19, 2016
ALBANY, New York, July 19, 2016: ResearchMoz.us has announced the addition of the “Global Microfinance Market 2016-2020” report to its offering. This report presents up-to-date information on the global microfinance market and also encapsulates the major factors impacting the growth of this market in the forecast period. Quantitative and qualitative insights on this market have been presented through this study. Furthermore, an elaboration on the chief opportunities, trends, and risk factors in the market for microfinance has also been presented. The key vendors operating in the market and their major contributions in this market also form an integral part of this report.
The report starts by presenting a brief overview of the microfinance market. As stated in the report, the global microfinance market is anticipated to expand at a healthy 15.56% CAGR between 2016 and 2020. Microfinance is a source of financial services for small businesses and entrepreneurs who don’t have an access to major banks and other related services. Thus, microfinance aims to provide long-term access to a wide range of high-quality financial services for the poor population in a number of developing nations. These services include not only credit cards but also fund transfers, insurance, and savings.
In the next section of this report, the market’s segmentation has been presented. In terms of geography, the report segments the global microfinance market into Asia Pacific (APAC), the Americas, Europe, the Middle East, and Africa. Amongst these, the Asia Pacific microfinance market is poised to emerge as the top revenue generator in the forecast horizon and is anticipated to hold a share of over 70% by 2020. China, South Korea, Hong Kong, Macau, Japan, Taiwan, and Mongolia are the major nations driving the growth rate of the microfinance market in Asia Pacific.
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The key dynamics shaping the growth of the microfinance market are presented in the following section of this study. The increasing technological advancements in the market for microfinance are a key factor boosting the growth of this market. In addition, the introduction of health microinsurance, agricultural microinsurance, and life microinsurance will also positively impact the development of the global microfinance market.
Furthermore, the gradual expansion of microenterprise banks within developing nations will also provide impetus to the development of the microfinance market. The introduction of new services and products through the Internet is a key trend seen in the microfinance market. On the other hand, financial and business illiteracy in emerging economies and the complications involved in the credit assessment of microenterprises are amongst the chief factors that may impede the growth of the market in the coming years.
In the last sections of the report, the competitive landscape of the global microfinance market has been presented. It is predicted that numerous new entrants will be penetrating this market in the coming years owing to its increasing potential of raising the national GDP and increasing employment. The major vendors in the market are ASA International, Albaraka, Banco do Nordeste, Fundacin de la Mujer, ICICI Bank, Wells Fargo, Standard Chartered, and Bandhan Financial Services, among others.
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