Microfinance Market by Service Type (Group & Individual Micro Credit, Leasing, Micro investment Funds, Insurance, Savings & Checking Accounts, and Others) and Provider (Banks and Non-banks): Global Opportunity Analysis and Industry Forecast, 2019–2026

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Microfinance Market Outlook - 2026

Microfinance is a type of financial service that is provided to unemployed or low-income individuals or groups with no other access to financial services. The aim of these institutions is the simple service offering micro-loans to the world’s unbanked populations, such as savings, insurance, and payment products. The services in the market are designed to become more affordable to poor and socially marginalized customers, households with a wide variety of high-quality financial products and services, and to help them become self-sufficient. 


The drivers to the market are mainly growth of the small and medium enterprises and lower-income groups. Also, women living in a rural area, with their growing potential toward household living and maintaining social living, with various government initiatives such as promoting fair competition, strengthening the national payment system, and others. The restraint to the microfinance market is, understanding that very small enterprises VSEs, have nominal records, it is crucial that loan officers conduct a thorough financial analysis by developing financial statements from whatever information is available (account records, bank statements, invoices, and others). The operational costs (mostly human resources-related) are much higher in microfinance whereas the amount of each loan is usually very low. Day-to-day money engagement to ensure that cash is available when needed, building long-term savings as poor people have very few opportunities to build up savings into large sums over the long term. Also, general purpose loans are the opportunity to the market, as many demands for large sums cannot be met by savings alone.

With the rapid changes in technology, microfinance has been expanding their services in an innovative way. The delivery of microfinance product and services are been enhanced by leveraging into dramatic penetration of mobile technology and mobile payments. Microfinance institutions are becoming highly professional in managing portfolio, and smart in utilizing new technologies. They are more efficient in reducing cost. More than profitability, the real issue is therefore whether MFIs are directing this reduction in costs towards their social mission and the people for whom they were created in the first place.

The microfinance market is segmented based on service type, provider, and region. Based on type, the market is divided into group & individual micro credit, leasing, micro investment funds, insurance, savings & checking accounts, and others. Based on provider, the market is categorized into banks and non-bank. Region wise, the market has been analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The market is highly competitive in nature, the customers are expected to determine the supply. The improving technological infrastructure, the customers are making transaction without any intermediary such as microfinance credit officer. The financial services are available in the remotest parts of the country. As a result, transaction costs have reduced and distance from a physical outlet is no longer a reason for exclusion. 

The major players in the microfinance market include 51Give, Bank Rakyat Indonesia, BRAC, Bharat Financial Inclusion, Grameen Foundation, Jamii Bora, Kiva, MicroPlace, Prosper Marketplace, and Bank Rakyat Indonesia. The other players are Annapurna Microfinance Pvt. Ltd., Bandhan Financial Services Pvt. Ltd, Asirvad Microfinance Pvt. Ltd., BSS Microfinance Pvt. Ltd.

Key Benefits for Stakeholders:

  • The study provides an in-depth analysis of the global microfinance market share with the current trends and future estimations from 2019 to 2026, to elucidate the imminent investment pockets.
  • An in-depth microfinance market analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
  • A comprehensive analysis of the factors that drive and restrain the global microfinance market growth is provided. 
  • The projections in this report are made by analyzing the current microfinance market trends and future market potential from 2019 to 2026 in terms of value.
  • An extensive analysis of the key segments of microfinance industry helps in understanding the service type and provider across the globe.

Key Market Segments:

By Service Type

  • Group and Individual Micro Credit
  • Leasing
  • Micro investment Funds
  • Insurance
  • Savings and Checking Accounts
  • Others

By Providers

  • Banks
  • Non-banks

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • Australia
    • Japan
    • India
    • China
    • Rest of Asia-Pacific
    • Brazil
    • Saudi Arabia
    • South Africa
    • Rest of LAMEA
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