4/24/2023 0 Comments Non qm loans 2020![]() However, the business segment in is expected to manifest theįrom 2022 to 2031. The report also studies the more than 50 segment.īased on end user, the salaried segment was the largest in 2021, accounting for nearly four-fifths of the Saudi Arabia personal loans market and is likely to maintain its dominance during the forecast period. The less than 30 segment, however, is estimated to witness the fastest CAGR of 18.2% during the forecast period. The report also studies the married segment.īased on consumer age, the 30-50 segment held the largest share in 2021, accounting for nearly half of the Saudi Arabia personal loans market and would dominate the market in terms of revenue through 2031. However, the others segment is likely to achieve the fastest CAGR of 19.2% through 2031. In terms of marital status, the single segment captured the largest market share of nearly three-fifths of the Saudi Arabia personal loans market in 2021 and is expected to lead the trail during the forecast period. The balance sheet segment is estimated to witness the fastest CAGR of 18.2% during the forecast period. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.īased on type, the P2P marketplace segment held the largest share in 2021, accounting for more than two-thirds of the Saudi Arabia personal loans market and would dominate the market in terms of revenue through 2031. The report provides an analysis of each segment and sub-segment with the help of tables and figures. However, as the economy was slowly getting back to normal, travel ban restrictions were uplifted, allowing consumers to take personal loans to fulfill their travel needs.īuy This Report (145 Pages PDF with Insights, Charts, Tables, and Figures) report offers a detailed segmentation of the Saudi Arabia personal loans market based on type, marital status, consumer age, and end user, and region. In addition, lenders were unable to get new customers via small ticket lending and targeting younger & low-income borrowers with short-term credit requirements. Moreover, the repayment and EMIs were delayed by some individuals. This led to reduced borrowing of personal loans. There was an acute financial crisis, massive unemployment, and salary reduction among individuals. The outbreak of the COVID-19 pandemic severely impacted the growth of the Saudi Arabia personal loans market. The increase in entrance of new players in KSA personal financeĮmerging non-banking finance and FinTech companies The high demand for residential houses from expatriates entering the country and increasing number of initiatives by government to strengthen the financial system The rise in need for operational efficiency & transparency in providing personal loans product lines ![]() The adoption of advanced technologies such as artificial intelligence, blockchain, & machine learning among personal loans firms in the region The growing demand for personal loans with lower interest ratesīetter credit history record among consumers in Saudi Arabia The rapid increase in need for personal loans to consolidate debt ![]() Type, Marital Status, Consumer Age, and End User The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. Generated $146.54 billion in 2021, and is estimated to reach $670.58 billion by 2031, witnessing a CAGR of 16.3% from 2022 to 2031. Portland, OR, Ma(GLOBE NEWSWIRE) - According to the report published by Allied Market Research, the
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