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Global Personal Loan Market Share, Size, Trends, Forecast: By Type: P2P Marketplace Lending, Balance Sheet Lending; By Age: Less than 30 Years, 30-50 Years, More than 50 Years; By Marital Status: Married, Single; By Employment Status: Salaried, Business; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Personal Loan Market Growth
Personal loan, also known as consumer loan, refers to a certain amount of money which is borrowed by a debtor to fulfil a personal financial need, such as debt consolidation, home improvements, emergency expenses, or large purchases. Interest rates for personal loans can vary depending upon the loan provider and credit history of the borrower. A personal loan is borrowed on a returnable basis and once the repayment is done, the promissory note, which is the evidence of loan, gets retired.
The key drivers shaping the personal loan market outlook include the rising demand for short-term financing, facilitated by low-income levels and rapid lending and approval processes. The market is also benefiting from the development of digitisation, which has streamlined the loan application and approval procedures, making personal loans more accessible to a broader population. Moreover, the availability of collateral-free credit programs and the flexibility offered by personal loans, such as choosing the loan length, have attracted more individuals towards this form of financing, further boosting market growth.
Personal Loan Market Report Snapshots
Personal Loan Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Personal Loan Market Analysis
8.1 Key Industry Highlights
8.2 Global Personal Loan Historical Market (2018-2023)
8.3 Global Personal Loan Market Forecast (2024-2032)
8.4 Global Personal Loan Market by Type
8.4.1 P2P Marketplace Lending
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Balance Sheet Lending
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Personal Loan Market by Age
8.5.1 Less than 30 Years
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 30-50 Years
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 More than 50 Years
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.6 Global Personal Loan Market by Marital Status
8.6.1 Married
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Single
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Personal Loan Market by Employment Status
8.7.1 Salaried
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Business
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Personal Loan Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Personal Loan Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Personal Loan Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Personal Loan Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Personal Loan Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Personal Loan Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 American Express Company
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Avant, LLC.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 DBS Bank Limited
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 The Goldman Sachs Group, Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 LendingClub Bank, N.A.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Prosper Funding LLC.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 SoFi Lending Corp.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Truist Financial Corporation
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Wells Fargo & Company
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Industrial and Commercial Bank of China Limited
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Personal Loan Market: Key Industry Highlights, 2018 and 2032
2. Global Personal Loan Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Personal Loan Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Personal Loan Historical Market: Breakup by Age (USD Million), 2018-2023
5. Global Personal Loan Market Forecast: Breakup by Age (USD Million), 2024-2032
6. Global Personal Loan Historical Market: Breakup by Marital Status (USD Million), 2018-2023
7. Global Personal Loan Market Forecast: Breakup by Marital Status (USD Million), 2024-2032
8. Global Personal Loan Historical Market: Breakup by Employment Status (USD Million), 2018-2023
9. Global Personal Loan Market Forecast: Breakup by Employment Status (USD Million), 2024-2032
10. Global Personal Loan Historical Market: Breakup by Region (USD Million), 2018-2023
11. Global Personal Loan Market Forecast: Breakup by Region (USD Million), 2024-2032
12. North America Personal Loan Historical Market: Breakup by Country (USD Million), 2018-2023
13. North America Personal Loan Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Europe Personal Loan Historical Market: Breakup by Country (USD Million), 2018-2023
15. Europe Personal Loan Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Asia Pacific Personal Loan Historical Market: Breakup by Country (USD Million), 2018-2023
17. Asia Pacific Personal Loan Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Latin America Personal Loan Historical Market: Breakup by Country (USD Million), 2018-2023
19. Latin America Personal Loan Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Middle East and Africa Personal Loan Historical Market: Breakup by Country (USD Million), 2018-2023
21. Middle East and Africa Personal Loan Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Global Personal Loan Market Structure
Key Questions Answered in the Report
The personal loan market indicates a promising growth rate at a CAGR of 32.20% in the forecast period of 2024 and 2032.
The advantages offered by personal loans, increasing requirement of money to fund lifestyle upgrades, and increasing accessibility of personal loans are major drivers of the market.
Key trends aiding market expansion include the technological advancements within market, adoption of digital technologies, rising expenditure on luxury goods, government initiatives promoting financial inclusion, and increasing immigration towards urban cities.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
P2P marketplace lending and balance sheet lending are the different types of personal loans.
Less than 30 years, 30-50 years, and more than 50 years of age groups are considered in the market.
Based on marital status, the market is segmented into married and single.
A personal loan can be taken from an online lender, credit union, or a bank.
A personal loan is considered a good way of fulfilling short-term or long-term financial needs and an adequate amount of time is given for consolidation.
Key players in the market are American Express Company, Avant, LLC., DBS Bank Limited, The Goldman Sachs Group, Inc., LendingClub Bank, N.A., Prosper Funding LLC., SoFi Lending Corp., Truist Financial Corporation, Wells Fargo & Company, and Industrial and Commercial Bank of China Limited, among others.
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