Microfinance market in Saudi Arabia will generate $1.68 billion

Portland, OR, Aug. 21, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the Microfinance market in Saudi Arabia raised $0.68 Billion in 2021 and is expected to generate $1.68 Billion by 2031, growing at a CAGR of 9.4% from 2022 to 2031. The report provides an in-depth analysis of changing dynamics of the market, major segments, value chain, competitive scenario and regional landscape. . This research offers valuable guidance for key players, investors, shareholders, and startups to design sustainable growth strategies and gain competitive advantage in the market.

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Report coverage and details:

Report cover Details
Forecast period 2022–2031
base year 2021
Market size in 2021 $0.68 billion
Market size in 2031 $1.68 billion
CAGR 9.4%
Number of pages in the report 131
Segments Covered Supplier and end user
Drivers Increased adoption of microfinance in developing countries to improve lifestyle
Moving from traditional loans to microfinance
Reduced operating costs and low market risk
Opportunities Adoption of advanced technologies in microfinance
Constraints High interest on small amounts and short repayment period thanks to microfinance

Covid-19 scenario:

  • The outbreak of the COVID-19 pandemic has had a moderate impact on the growth of the microfinance market, as the pandemic has allowed lending activities, including delinquent or uncollectible loans, to become an implicit part of the financial sector. Consequently, the need for implementing new debt management software in microfinance institutions (MFIs) has increased significantly.
  • Also, various microfinance institutes in Saudi Arabia have been shut down by the government, due to the increasing number of COVID patients. In addition, various other digital platforms have been adopted by microfinance companies to sell their products and attract their clients, which has negatively impacted the growth of microfinance market opportunities in Saudi Arabia.
  • In addition, the pandemic has posed many challenges for microfinance market participants and microfinance institutions, including difficulties in disbursement, collection of reimbursements, meeting with clients face-to-face, and reorganization of internal systems and of the workflow.
  • Additionally, microfinance providers have faced a severe liquidity crunch during COVID-19, with the gap between revenue and operational expenses increasing as reserves are depleted. This decrease in liquidity may not create a problem for large MFIs or those with strong stable backups, but is enough to haunt small and medium MFIs.

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The research provides a detailed segmentation of the Saudi Arabia microfinance market based on provider and end user. The report discusses the segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize based on the most revenue-generating and fastest-growing segments mentioned in the report.

On a provider basis, the Banks segment held the highest share in 2021, accounting for almost half of the microfinance market in Saudi Arabia, and is expected to maintain its leading status over the forecast period. However, the microfinance institutes (MFIs) segment is expected to register the highest CAGR of 10.8% from 2022 to 2031.

On an end-user basis, the small business segment accounted for the highest share in 2021, contributing almost two-fifths of the Saudi Arabian microfinance market, and is expected to maintain its revenue lead over the course of 2021. the forecast period. However, the sole proprietor or self-employed segment is expected to show the highest CAGR of 10.8% from 2022 to 2031.

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Key Saudi Arabia microfinance market players analyzed in the research include Alinma bank, Al Rajhi bank, ANB, Bank Albilad, Banque Saudi Fransi, Gojo & Company, Inc., Kiva, Riyad Bank, SABB, Saudi Arabia, SNB . These players have adopted product development and launch as their major development strategies in the aircraft engine industry. Additionally, collaborations and acquisitions are expected to allow key players to enhance their product portfolios and expand into different regions.

Main benefits for stakeholders

  • The study provides an in-depth analysis of the Saudi Arabia microfinance market forecast along with current and future trends to explain the impending pockets of investment.
  • Information on major drivers, restraints and opportunities and their impact analysis on the Saudi Arabia Microfinance Market analysis are provided in the report.
  • Porter’s five forces analysis illustrates the power of buyers and suppliers operating in the Saudi Arabia microfinance market outlook.
  • Quantitative analysis of Saudi Arabia microfinance market trends from 2022 to 2031 is provided to determine the market potential.

Key market segments

By supplier

  • Banks
  • Institute of Micro Finance (IMF)
  • NBFC (non-banking financial institutions)
  • Others

Per end user

  • Small enterprises
  • Micro-enterprises
  • Individual Entrepreneurs or Independent Workers

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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unrivaled quality of “market research reports” and “Business Intelligence solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the company to maintain high quality data and help clients in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.

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