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2021
Personal Loans Market

Personal Loans Market By Type (P2P Marketplace Lending and Balance Sheet Lending), Age (Less than 30, 30-50, and More than 50), Marital Status (Married, Single, and Others), and Employment Status (Salaried and Business): Global Opportunity Analysis and Industry Forecast, 2021–2030

A07580
Pages: 300
Aug 2021 | 3180 Views
   
Author(s) : Aarti Goswami, Pramod Borasi , Vineet Kumar
Tables: 58
Charts: 32
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Personal Loans Market Outlook - 2030

The global personal loans market size was valued at $47.79 billion in 2020, and is projected to reach $719.31 billion by 2030, growing at a CAGR of 31.7% from 2021 to 2030. 

With an economic crisis triggered by the disruption to the global economy, discretionary spending across families has reduced drastically. Moreover, due to the prevailing economic uncertainty, there is a disrupted supply chain which is further responsible for dampening consumer demand and lenders are becoming more cautious while providing loans during the pandemic situation.

Personal loan is an amount of money borrowed by an individual for a variety of purposes such paying for home renovations, consolidate debt, and wedding. In addition, personal loans are generally offered by banks, credit unions, and online loan providers. Moreover, personal loans typically have lower interest rates than credit cards and can be used to consolidate multiple credit card debts into a single and lower-cost monthly payment.

Personal-Loans-Market

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With low interest rates & higher borrowing limits, personal loans are attracting a greater number of consumers, which is a major driving factor for the market growth. In addition, personal loans with a single & fixed-rate monthly payment is easier to manage than several credit cards with different interest rates, payment due dates, and other variables. These factors contribute toward growth of the personal loans market. However, growing number of bad debts among individuals availing personal loans and higher fees & penalties charged for personal loans are some of the factors that limit the market growth. 

On the contrary, developing economies such as India, Malaysia, Bangladesh, China, and South Korea offer significant opportunities for personal loans companies to expand their offerings as huge population of these nations are in a constant need for loans to improve their standard of living, for which consumers hugely depend upon personal loans. Moreover, personal loan firms are rapidly switching toward digitalized business operations, thus, adoption & implementation of technologies such as chatbots, big data analytics, IoT, and artificial intelligence (AI) has increased tremendously, which is anticipated to open new avenues for the market in the coming years.

The report focuses on growth prospects, restraints, and trends of the personal loans market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the personal loans market outlook.

Segment Review

The personal loans market is segmented into type, age, marital status, employment status, and region. By type, the market is bifurcated into P2P marketplace lending and balance sheet lending. Depending on age, it is segmented into less than 30, 30-50, and more than 50. Based on marital status, the market is segregated into married, single, and others. By employment status, the market is divided salaried and business. The salaried segment is further segregated into male, female, and others. Region wise, the market is analysed across North America, Europe, Asia-Pacific, and LAMEA. 

Personal Loans Market
By Type

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P2P Marketplace Lending segment will grow at a highest CAGR of 32.2% during 2021 - 2030.

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Competitive Analysis 

The personal loans market analysis includes top personal loans companies such as American Express, Avant, LLC, Barclays PLC, DBS Bank Ltd, Goldman Sachs, LendingClub Bank, Prosper Funding LLC, Social Finance, Inc., Truist Financial Corporation, and Wells Fargo. These players have adopted various strategies to increase their market penetration and strengthen their position in the personal loans industry.

COVID-19 Impact Analysis

The COVID-19 pandemic has a negative impact on the personal loans, owing to economic slowdown, unpredictability in global financial sectors, and highly volatile market. Furthermore, coronavirus lockdown has resulted in an acute financial crisis, massive fears of unemployment, and salary cuts among individuals. Moreover, lenders are unable to acquire customer through small ticket lending and to target younger & low-income borrowers with short term credit needs, these are becoming major challenging factors to the market. Therefore, demand for personal loans product offerings has declined tremendously during the global health crisis. 

Top Impacting Factors

Numerous Benefits Provided by Personal Loans 

Personal loans have numerous benefits for which it is in huge demands among consumers. It generally does not require collateral to get approved of the loan amount. Furthermore, one major reason for availing personal loans is that it allows to manage several credit cards with different interest rates and payment due dates. Moreover, borrowers that qualify for a personal loan with a lower interest rate than their credit cards are able to streamline their monthly payments and save money for future financial consequences. Therefore, these benefits provided by personal loans are becoming major factors that propels the market growth.

High Fees and Penalty Charges

Generally, personal loans engage in fees and penalties that drive up the cost of borrowing. Some loans come with origination fees of 1% to 6% of the loan amount. The fees are either rolled into the loan or subtracted from the amount disbursed to borrowers. Moreover, several lenders charge prepayment penalties if the borrower pays balance before the end of their loan term. Furthermore, consumers ignoring fine print of details including fees and penalties before taking personal loan creates a sense of distrust in the minds of consumers. Therefore, this is a major factor limiting growth of the personal loans market.  

Technological Advancements in the Field of Lending

Increase in adoption of advanced technologies such as chatbots, IoT, AI, and big data analytics have led to growth of the personal loans market growth. In addition, with increase in digitalization, personal loans providers are looking forward to quickly invest on client engagement by providing digital and voice-enabled assistants. Moreover, chatbots, which is a software application used to conduct an on-line chat conversation, are largely used by personal loans firms, as it helps in offering more personalized & user-friendly experience to customers. 

Furthermore, with the help of advance technology, a greater number of startups are coming up with innovative personal loans schemes, for instance, Zopa is a Person-2-Person platform for personal loans. It enables borrowers to access loans from multiple lenders or investors and provides a credit card for online/offline purchases and a fixed-term savings account. These startups are helping consumers to avail loans at the safety of their homes. Therefore, possibilities of technological advancements are unlimited, which are expected to create remunerative opportunities for the growth of the personal loans market.  

Personal Loans Market
By Region

2030
North America 
Europe
Asia-pacific
Lamea

Asia-Pacific would exhibit the highest CAGR of 40.2% during 2021-2030

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Key Benefits for Stakeholders 

  • The study provides in-depth analysis of the global personal loans market share along with current trends and future estimations to illustrate the imminent investment pockets.
  • Information about key drivers, restrains, and opportunities and their impact analysis on the global personal loans market size are provided in the report.
  • Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the personal loans market.
  • An extensive analysis of the key segments of the industry helps to understand the personal loans market trends.
  • The quantitative analysis of the global personal loans market forecast from 2021 to 2030 is provided to determine the market potential. 

Key Market Segments

By Type

  • P2P Marketplace Lending
  • Balance Sheet Lending

By Age

  • Less than 30
  • 30-50
  • More than 50  

By Marital Status

  • Married
  • Single
  • Others

By Employment Status

  • Salaried
  • Male
  • Female
  • Others
  • Business

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Netherlands
    • Rest of Europe 
  • Asia-Pacific 
    • China
    • India
    • Japan
    • Singapore
    • Australia
    • Rest of Asia-Pacific   
  • LAMEA
    • Latin America 
    • Middle East
    • Africa

Key market players

  • American Express
  • Avant, LLC
  • Barclays PLC 
  • DBS Bank Ltd
  • Goldman Sachs
  • LendingClub Bank
  • Prosper Funding LLC
  • Social Finance, Inc.
  • Truist Financial Corporation
  • Wells Fargo     

Key Market Segments

  • BY TYPE
    • P2P MARKETPLACE LENDING
    • BALANCE SHEET LENDING
  • BY AGE
    • LESS THAN 30
    • 30-50
    • MORE THAN 50
  • BY MARITAL STATUS
    • MARRIED
    • SINGLE
    • OTHERS
  • BY EMPLOYMENT STATUS
    • SALARIED
      • Male
      • Female
      • Others
    • BUSINESS
  • BY REGION
    • NORTH AMERICA
      • US
      • Canada
    • EUROPE
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Netherlands
      • Rest of Europe
    • ASIA-PACIFIC
      • China
      • India
      • Japan
      • Singapore
      • Australia
      • Rest of Asia-Pacific
    • LAMEA
      • Latin America
      • Middle East
      • Africa


Key Market Players

  • AMERICAN EXPRESS
  • AVANT, LLC
  • BARCLAYS PLC
  • DBS BANK LTD
  • GOLDMAN SACHS
  • LENDINGCLUB BANK
  • PROSPER FUNDING LLC
  • SOCIAL FINANCE, INC.
  • TRUIST FINANCIAL CORPORATION
  • WELLS FARGO
 

CHAPTER 1:  INTRODUCTION

 1.1.REPORT DESCRIPTION
 1.2.KEY MARKET SEGMENTS
 1.3.KEY BENEFITS
 1.4.RESEARCH METHODOLOGY

1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models

CHAPTER 2:  EXECUTIVE SUMMARY

 2.1.CXO PERSPECTIVE

CHAPTER 3:  MARKET LANDSCAPE

 3.1.MARKET DEFINITION AND SCOPE
 3.2.KEY FINDINGS

3.2.1.Top investment pockets
3.2.2.Top winning strategies

 3.3.PORTER'S FIVE FORCES ANALYSIS

3.3.1.Bargaining power of suppliers
3.3.2.Threat of new entrants
3.3.3.Threat of substitutes
3.3.4.Competitive rivalry
3.3.5.Bargaining power among buyers

 3.4.MARKET SHARE ANALYSIS/TOP PLAYER POSITIONING 2020
 3.5.MARKET DYNAMICS

3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities

3.6.COVID-19 impact analysis on personal loans market

3.6.1.Impact on personal loans market size
3.6.2.Change in consumer trends, preferences, and budget impact, owing to COVID-19
3.6.3.Framework for market challenges faced by personal loans providers
3.6.4.Economic impact on personal loans providers
3.6.5.Key player strategies to tackle negative impact on the industry
3.6.6.Opportunity analysis for personal loans providers

CHAPTER 4:  PERSONAL LOANS MARKET BY TYPE 

 4.1.OVERVIEW
 4.2. P2P MARKETPLACE LENDING

4.2.1.Key market trends, growth factors and opportunities
4.2.2.Market size and forecast, by region 
4.2.3.Market share analysis, by country

 4.3. BALANCE SHEET LENDING

4.3.1.Key market trends, growth factors and opportunities
4.3.2.Market size and forecast, by region 
4.3.3.Market share analysis, by country

CHAPTER 5:  PERSONAL LOANS MARKET BY AGE

 5.1.OVERVIEW
 5.2. LESS THAN 30

5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region 
5.2.3.Market share analysis, by country

 5.3. 30-50

5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region 
5.3.3.Market share analysis, by country

 5.4. MORE THAN 50

5.4.1.Key market trends, growth factors and opportunities
5.4.2.Market size and forecast, by region 
5.4.3.Market share analysis, by country

CHAPTER 6:  PERSONAL LOANS MARKET BY MARITAL STATUS

 6.1.OVERVIEW
 6.2. MARRIED

6.2.1.Key market trends, growth factors and opportunities
6.2.2.Market size and forecast, by region 
6.2.3.Market share analysis, by country

 6.3. SINGLE

6.3.1.Key market trends, growth factors and opportunities
6.3.2.Market size and forecast, by region 
6.3.3.Market share analysis, by country

 6.4. OTHERS

6.4.1.Key market trends, growth factors and opportunities
6.4.2.Market size and forecast, by region 
6.4.3.Market share analysis, by country

CHAPTER 7:  PERSONAL LOANS MARKET BY EMPLOYMENT STATUS

 7.1.OVERVIEW
 7.2. SALARIED

7.2.1.Key market trends, growth factors and opportunities
7.2.2.Market size and forecast, by region 
7.2.3.Market share analysis, by country
7.2.4.Male

7.2.4.1.Market size and forecast

7.2.5.Female

7.2.5.1.Market size and forecast

7.2.6.Others

7.2.6.1.Market size and forecast

 7.3. BUSINESS

7.3.1.Key market trends, growth factors and opportunities
7.3.2.Market size and forecast, by region 
7.3.3.Market share analysis, by country

CHAPTER 8:  PERSONAL LOANS MARKET BY REGION

 8.1.OVERVIEW
 8.2.NORTH AMERICA

8.2.1.Key market trends and opportunities
8.2.2.Market size and forecast, by type 
8.2.3.Market size and forecast, by age
8.2.4.Market size and forecast, by marital status
8.2.5.Market size and forecast, by employment status
8.2.6.Market size and forecast, by Country

8.2.7.U.S.

  8.2.7.1.Market size and forecast, by type 
  8.2.7.2.Market size and forecast, by age
  8.2.7.3.Market size and forecast, by marital status
  8.2.7.4.Market size and forecast, by employment status

8.2.8.Canada

  8.2.8.1.Market size and forecast, by type 
  8.2.8.2.Market size and forecast, by age
  8.2.8.3.Market size and forecast, by marital status
  8.2.8.4.Market size and forecast, by employment status

 8.3.EUROPE

8.3.1.Key market trends and opportunities
8.3.2.Market size and forecast, by type 
8.3.3.Market size and forecast, by age
8.3.4.Market size and forecast, by marital status
8.3.5.Market size and forecast, by employment status
8.3.6.Market size and forecast, by Country
8.3.7.UK

  8.3.7.1.Market size and forecast, by type 
  8.3.7.2.Market size and forecast, by age
  8.3.7.3.Market size and forecast, by marital status
  8.3.7.4.Market size and forecast, by employment status

8.3.8.Germany

  8.3.8.1.Market size and forecast, by type 
  8.3.8.2.Market size and forecast, by age
  8.3.8.3.Market size and forecast, by marital status
  8.3.8.4.Market size and forecast, by employment status

8.3.9.France

  8.3.9.1.Market size and forecast, by type 
  8.3.9.2.Market size and forecast, by age
  8.3.9.3.Market size and forecast, by marital status
  8.3.9.4.Market size and forecast, by employment status

8.3.10.Italy

  8.3.10.1.Market size and forecast, by type 
  8.3.10.2.Market size and forecast, by age
  8.3.10.3.Market size and forecast, by marital status
  8.3.10.4.Market size and forecast, by employment status

8.3.11.Spain

  8.3.11.1.Market size and forecast, by type 
  8.3.11.2.Market size and forecast, by age
  8.3.11.3.Market size and forecast, by marital status
  8.3.11.4.Market size and forecast, by employment status

8.3.12.Netherlands

  8.3.12.1.Market size and forecast, by type 
  8.3.12.2.Market size and forecast, by age
  8.3.12.3.Market size and forecast, by marital status
  8.3.12.4.Market size and forecast, by employment status

8.3.13.Rest of Europe

  8.3.13.1.Market size and forecast, by type 
  8.3.13.2.Market size and forecast, by age
  8.3.13.3.Market size and forecast, by marital status
  8.3.13.4.Market size and forecast, by employment status

 8.4.ASIA-PACIFIC

8.4.1.Key market trends and opportunities
8.4.2.Market size and forecast, by type 
8.4.3.Market size and forecast, by age
8.4.4.Market size and forecast, by marital status
8.4.5.Market size and forecast, by employment status
8.4.6.Market size and forecast, by Country
8.4.7.China

  8.4.7.1.Market size and forecast, by type 
  8.4.7.2.Market size and forecast, by age
  8.4.7.3.Market size and forecast, by marital status
  8.4.7.4.Market size and forecast, by employment status

8.4.8.India

  8.4.8.1.Market size and forecast, by type 
  8.4.8.2.Market size and forecast, by age
  8.4.8.3.Market size and forecast, by marital status
  8.4.8.4.Market size and forecast, by employment status

8.4.9.Japan

  8.4.9.1.Market size and forecast, by type 
  8.4.9.2.Market size and forecast, by age
  8.4.9.3.Market size and forecast, by marital status
  8.4.9.4.Market size and forecast, by employment status

8.4.10.Singapore

  8.4.10.1.Market size and forecast, by type 
  8.4.10.2.Market size and forecast, by age
  8.4.10.3.Market size and forecast, by marital status
  8.4.10.4.Market size and forecast, by employment status

8.4.11.Australia

  8.4.11.1.Market size and forecast, by type 
  8.4.11.2.Market size and forecast, by age
  8.4.11.3.Market size and forecast, by marital status
  8.4.11.4.Market size and forecast, by employment status

8.4.12.Rest of Asia-Pacific

  8.4.12.1.Market size and forecast, by type 
  8.4.12.2.Market size and forecast, by age
  8.4.12.3.Market size and forecast, by marital status
  8.4.12.4.Market size and forecast, by employment status

 8.5.LAMEA

8.5.1.Key market trends and opportunities
8.5.2.Market size and forecast, by type 
8.5.3.Market size and forecast, by age
8.5.4.Market size and forecast, by marital status
8.5.5.Market size and forecast, by employment status
8.5.6.Market size and forecast, by Country
8.5.7.Latin America

  8.5.7.1.Market size and forecast, by type 
  8.5.7.2.Market size and forecast, by age
  8.5.7.3.Market size and forecast, by marital status
  8.5.7.4.Market size and forecast, by employment status

8.5.8.Middle East

  8.5.8.1.Market size and forecast, by type 
  8.5.8.2.Market size and forecast, by age
  8.5.8.3.Market size and forecast, by marital status
  8.5.8.4.Market size and forecast, by employment status

8.5.9.Africa

  8.5.9.1.Market size and forecast, by type 
  8.5.9.2.Market size and forecast, by age
  8.5.9.3.Market size and forecast, by marital status
  8.5.9.4.Market size and forecast, by employment status

CHAPTER 9:  COMPANY PROFILES

 9.1. AMERICAN EXPRESS

9.1.1.Company overview
9.1.2.Key Executives
9.1.3.Company snapshot
9.1.4.Operating business segments
9.1.5.Product portfolio
9.1.6.Business performance
9.1.7.Key strategic moves and developments

 9.2. AVANT, LLC

9.2.1.Company overview
9.2.2.Key Executives
9.2.3.Company snapshot
9.2.4.Operating business segments
9.2.5.Product portfolio
9.2.6.Business performance
9.2.7.Key strategic moves and developments

 9.3. BARCLAYS PLC

9.3.1.Company overview
9.3.2.Key Executives
9.3.3.Company snapshot
9.3.4.Operating business segments
9.3.5.Product portfolio
9.3.6.Business performance
9.3.7.Key strategic moves and developments

 9.4. DBS BANK LTD

9.4.1.Company overview
9.4.2.Key Executives
9.4.3.Company snapshot
9.4.4.Operating business segments
9.4.5.Product portfolio
9.4.6.Business performance
9.4.7.Key strategic moves and developments

 9.5. GOLDMAN SACHS

9.5.1.Company overview
9.5.2.Key Executives
9.5.3.Company snapshot
9.5.4.Operating business segments
9.5.5.Product portfolio
9.5.6.Business performance
9.5.7.Key strategic moves and developments

 9.6. LENDINGCLUB BANK

9.6.1.Company overview
9.6.2.Key Executives
9.6.3.Company snapshot
9.6.4.Operating business segments
9.6.5.Product portfolio
9.6.6.Business performance
9.6.7.Key strategic moves and developments

 9.7. PROSPER FUNDING LLC

9.7.1.Company overview
9.7.2.Key Executives
9.7.3.Company snapshot
9.7.4.Operating business segments
9.7.5.Product portfolio
9.7.6.Business performance
9.7.7.Key strategic moves and developments

 9.8. SOCIAL FINANCE, INC.

9.8.1.Company overview
9.8.2.Key Executives
9.8.3.Company snapshot
9.8.4.Operating business segments
9.8.5.Product portfolio
9.8.6.Business performance
9.8.7.Key strategic moves and developments

 9.9. TRUIST FINANCIAL CORPORATION

9.9.1.Company overview
9.9.2.Key Executives
9.9.3.Company snapshot
9.9.4.Operating business segments
9.9.5.Product portfolio
9.9.6.Business performance
9.9.7.Key strategic moves and developments

 9.10. WELLS FARGO

9.10.1.Company overview
9.10.2.Key Executives
9.10.3.Company snapshot
9.10.4.Operating business segments
9.10.5.Product portfolio
9.10.6.Business performance
9.10.7.Key strategic moves and developments

LIST OF TABLES

TABLE 1.GLOBAL PERSONAL LOANS MARKET, BY TYPE  2020-2030 ($MILLION)
TABLE 2.PERSONAL LOANS MARKET FOR P2P MARKETPLACE LENDING, BY REGION,  2020-2030 ($MILLION)
TABLE 3.PERSONAL LOANS MARKET FOR BALANCE SHEET LENDING, BY REGION,  2020-2030 ($MILLION)
TABLE 4.GLOBAL PERSONAL LOANS MARKET, BY AGE 2020-2030 ($MILLION)
TABLE 5.PERSONAL LOANS MARKET FOR LESS THAN 30, BY REGION,  2020-2030 ($MILLION)
TABLE 6.PERSONAL LOANS MARKET FOR 30-50, BY REGION,  2020-2030 ($MILLION)
TABLE 7.PERSONAL LOANS MARKET FOR MORE THAN 50, BY REGION,  2020-2030 ($MILLION)
TABLE 8.GLOBAL PERSONAL LOANS MARKET, BY MARITAL STATUS 2020-2030 ($MILLION)
TABLE 9.PERSONAL LOANS MARKET FOR MARRIED, BY REGION,  2020-2030 ($MILLION)
TABLE 10.PERSONAL LOANS MARKET FOR SINGLE, BY REGION,  2020-2030 ($MILLION)
TABLE 11.PERSONAL LOANS MARKET FOR OTHERS, BY REGION,  2020-2030 ($MILLION)
TABLE 12.GLOBAL PERSONAL LOANS MARKET, BY EMPLOYMENT STATUS 2020-2030 ($MILLION)
TABLE 13.PERSONAL LOANS MARKET FOR SALARIED, BY REGION,  2020-2030 ($MILLION)
TABLE 14.PERSONAL LOANS MARKET FOR MALE, BY REGION,  2020-2030 ($MILLION)
TABLE 15.PERSONAL LOANS MARKET FOR  FEMALE, BY REGION,  2020-2030 ($MILLION)
TABLE 16.PERSONAL LOANS MARKET FOR  OTHERS, BY REGION,  2020-2030 ($MILLION)
TABLE 17.PERSONAL LOANS MARKET FOR BUSINESS, BY REGION,  2020-2030 ($MILLION)
TABLE 18.PERSONAL LOANS MARKET FOR , BY REGION, 2020-2030 ($MILLION)
TABLE 19.NORTH AMERICA PERSONAL LOANS, BY TYPE  2020-2030 ($MILLION)
TABLE 20.NORTH AMERICA PERSONAL LOANS, BY AGE 2020-2030 ($MILLION)
TABLE 21.NORTH AMERICA PERSONAL LOANS, BY MARITAL STATUS 2020-2030 ($MILLION)
TABLE 22.NORTH AMERICA PERSONAL LOANS, BY EMPLOYMENT STATUS 2020-2030 ($MILLION)
TABLE 23.NORTH AMERICA PERSONAL LOANS, BY REGION,  2020-2030 ($MILLION)
TABLE 24.EUROPE PERSONAL LOANS, BY TYPE  2020-2030 ($MILLION)
TABLE 25.EUROPE PERSONAL LOANS, BY AGE 2020-2030 ($MILLION)
TABLE 26.EUROPE PERSONAL LOANS, BY MARITAL STATUS 2020-2030 ($MILLION)
TABLE 27.EUROPE PERSONAL LOANS, BY EMPLOYMENT STATUS 2020-2030 ($MILLION)
TABLE 28.EUROPE PERSONAL LOANS, BY REGION,  2020-2030 ($MILLION)
TABLE 29.ASIA-PACIFIC PERSONAL LOANS, BY TYPE  2020-2030 ($MILLION)
TABLE 30.ASIA-PACIFIC PERSONAL LOANS, BY AGE 2020-2030 ($MILLION)
TABLE 31.ASIA-PACIFIC PERSONAL LOANS, BY MARITAL STATUS 2020-2030 ($MILLION)
TABLE 32.ASIA-PACIFIC PERSONAL LOANS, BY EMPLOYMENT STATUS 2020-2030 ($MILLION)
TABLE 33.ASIA-PACIFIC PERSONAL LOANS, BY REGION,  2020-2030 ($MILLION)
TABLE 34.LAMEA PERSONAL LOANS, BY TYPE  2020-2030 ($MILLION)
TABLE 35.LAMEA PERSONAL LOANS, BY AGE 2020-2030 ($MILLION)
TABLE 36.LAMEA PERSONAL LOANS, BY MARITAL STATUS 2020-2030 ($MILLION)
TABLE 37.LAMEA PERSONAL LOANS, BY EMPLOYMENT STATUS 2020-2030 ($MILLION)
TABLE 38.LAMEA PERSONAL LOANS, BY REGION,  2020-2030 ($MILLION)
TABLE 39.AMERICAN EXPRESS: COMPANY SNAPSHOT
TABLE 40.AMERICAN EXPRESS: OPERATING SEGMENTS
TABLE 41.AVANT, LLC: COMPANY SNAPSHOT
TABLE 42.AVANT, LLC: OPERATING SEGMENTS
TABLE 43.BARCLAYS PLC: COMPANY SNAPSHOT
TABLE 44.BARCLAYS PLC: OPERATING SEGMENTS
TABLE 45.DBS BANK LTD: COMPANY SNAPSHOT
TABLE 46.DBS BANK LTD: OPERATING SEGMENTS
TABLE 47.GOLDMAN SACHS: COMPANY SNAPSHOT
TABLE 48.GOLDMAN SACHS: OPERATING SEGMENTS
TABLE 49.LENDINGCLUB BANK: COMPANY SNAPSHOT
TABLE 50.LENDINGCLUB BANK: OPERATING SEGMENTS
TABLE 51.PROSPER FUNDING LLC: COMPANY SNAPSHOT
TABLE 52.PROSPER FUNDING LLC: OPERATING SEGMENTS
TABLE 53.SOCIAL FINANCE, INC.: COMPANY SNAPSHOT
TABLE 54.SOCIAL FINANCE, INC.: OPERATING SEGMENTS
TABLE 55.TRUIST FINANCIAL CORPORATION: COMPANY SNAPSHOT
TABLE 56.TRUIST FINANCIAL CORPORATION: OPERATING SEGMENTS
TABLE 57.WELLS FARGO: COMPANY SNAPSHOT
TABLE 58.WELLS FARGO: OPERATING SEGMENTS

LIST OF FIGURES

FIGURE 1.GLOBAL PERSONAL LOANS MARKET SEGMENTATION
FIGURE 2.TOP INVESTMENT POCKET
FIGURE 3.TOP WINNING STRATEGIES (%)
FIGURE 4.PERSONAL LOANS MARKET FOR P2P MARKETPLACE LENDING, 2020-2030 ($MILLION)
FIGURE 5.PERSONAL LOANS MARKET FOR BALANCE SHEET LENDING, 2020-2030 ($MILLION)
FIGURE 6.PERSONAL LOANS MARKET FOR LESS THAN 30, 2020-2030 ($MILLION)
FIGURE 7.PERSONAL LOANS MARKET FOR 30-50, 2020-2030 ($MILLION)
FIGURE 8.PERSONAL LOANS MARKET FOR MORE THAN 50, 2020-2030 ($MILLION)
FIGURE 9.PERSONAL LOANS MARKET FOR MARRIED, 2020-2030 ($MILLION)
FIGURE 10.PERSONAL LOANS MARKET FOR SINGLE, 2020-2030 ($MILLION)
FIGURE 11.PERSONAL LOANS MARKET FOR OTHERS, 2020-2030 ($MILLION)
FIGURE 12.PERSONAL LOANS MARKET FOR SALARIED, 2020-2030 ($MILLION)
FIGURE 13.PERSONAL LOANS MARKET FOR BUSINESS, 2020-2030 ($MILLION)
FIGURE 14.GLOBAL PERSONAL LOANS, BY REGION,  2020 (%)
FIGURE 15.U.S. PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 16.CANADA PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 17.UK PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 18.GERMANY PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 19.FRANCE PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 20.ITALY PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 21.SPAIN PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 22.NETHERLANDS PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 23.REST OF EUROPE PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 24.CHINA PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 25.INDIA PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 26.JAPAN PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 27.SINGAPORE PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 28.AUSTRALIA PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 29.REST OF ASIA-PACIFIC PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 30.LATIN AMERICA PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 31.MIDDLE EAST PERSONAL LOANS MARKET, 2020-2030 ($MILLION)
FIGURE 32.AFRICA PERSONAL LOANS MARKET, 2020-2030 ($MILLION)

 
 

With increase in demand for personal loans, in terms of unique goals & short-term fluctuating needs, consumers increasingly turned to personal loans, making this type of financing one of the fastest-growing forms of debt. Moreover, firms are aiming at enhancing immediate focus toward seamless client communications and adopting digital tools for fulfilling consumers constant needs toward personal loans. Firms in the personal loans sector are increasingly expanding their offerings to other financial services such as banks & credit agencies to meet changing consumer needs.

During the COVID-19 health crisis, credit scores among personal loan holders have disrupted and lenders began to tighten their loan qualification requirements. In addition, several lenders made widespread changes to their credit and risk appetite, and restricting the supply of credit. These factors have resulted into massive decline in personal loans during the pandemic situation.

The personal loans market is fragmented with the presence of regional vendors such as American Express, Goldman Sachs, and Barclays PLC. Some of the key players profiled in the personal loans market report include Avant, LLC, DBS Bank Ltd, LendingClub Bank, Prosper Funding LLC, Social Finance, Inc., Truist Financial Corporation, and Wells Fargo. Major players operating in this market have witnessed significant adoption of strategies that include business expansion and partnership to reduce supply and demand gap. With increase in awareness & demand for personal loans across the globe, major players are collaborating their product portfolio to provide differentiated and innovative products.

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A. The Personal Loans Market is estimated to grow at a CAGR of 31.7% from 2021 to 2030.

A. The Personal Loans Market is projected to reach $719.31 billion by 2030.

A. To get the latest version of sample report

A. Factors such as With low interest rates & higher borrowing limits, personal loans are attracting a greater number of consumers drives the growth of the Personal Loans market

A. The key players profiled in the report include American Security Products Co., Access Security Products Ltd., Alpha Safe & Vault, Inc., Acme Security Systems, BJARSTAL, Bode-Panzer GmbH, Diebold Nixdorf Incorporated, Dormakaba, Gunnebo Industries AB, and Godrej & Boyce Manufacturing Co. Limited, and many more.

A. On the basis of top growing big corporations, we select top 10 players.

A. The Personal Loans Market is segmented on the basis of type, age, marital status, employment status, and region.

A. The key growth strategies of Personal Loans market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.

A. By employment status, the Personal Loans market is divided salaried and business

A. P2P Marketplace Lending segment will grow at a highest CAGR of 32.2% during 2021 - 2030.

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