What is Personal Loans Market?
Personal loans are those type of loan which helps to meet user current financial needs. It is used for various purposes such as home renovation, medical contingencies, wedding, education, travel, among others. It offers various advantages such as donít need collateral, can borrow any amount, rates are reasonable, donít need great credit, have plenty of time to pay and others.
The market study is being classified and major geographies with country level break-up.
LightStream (United States), Social Finance, Inc. (United States), Citizens Financial Group, Inc. (United States), Marcus Goldman (Germany), FreedomPlus (United States), Payoff, Inc. (United States), OneMain Holdings, Inc. (United States), Avant, LLC (United States), Prosper Marketplace, Inc. (United States) and LendingClub (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Best Egg (United States), Earnest (United States) and Earnin (United States).
Industry players operational in the personal loans market include LightStream (United States), Social Finance, Inc. (United States), Citizens Financial Group, Inc. (United States), Marcus Goldman (Germany), FreedomPlus (United States), Payoff, Inc. (United States), among others. These players are adopting strategies such as product launch, partnerships, and acquisitions to garner higher market share and sustain the market competition Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Personal Loans market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Personal Loans market by Type, Application and Region.
On the basis of geography, the market of Personal Loans has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Number of Consumers are Now Taking Personal Loans for Their Purchases
- Increasing Awareness regarding the Benefit of Personal Loans
- Increasing Demand of Personal Loan Apps for Quick Cash Requirement
- Alternatives to a Personal Loan such as Balance Transfers, Credit Cards and Others
- Issue related to Fixed Payments and Higher Rates than Some Loans
- Growing Demand from Emerging Market such as China, India, Brazil, among others
- Problem regarding Prepayment Penalties and Potential for Scams
Key Target AudiencePersonal Loans Companies, Regulatory Bodies, Component Suppliers, Distributors and Others
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