TechNavio recognizes the following companies as the key players in the Global Micro, Small, and Medium Enterprise Financing Market: ICICI Bank Ltd., Standard Chartered plc, and Wells Fargo & Company.
Commenting on the report, an analyst from TechNavio’s team said: “Currently, the MSME segment in emerging countries is either unserved or underserved. Private sector banks have recognized this as a good business opportunity and are increasingly expanding and gaining ground in emerging markets such as China and India. They are usually preferred more than state-owned banks because of their better infrastructure, faster processing, attractive schemes, and costs offered on the products. This is not only increasing the operational efficiency, but also generating higher revenue for private banks. Hence, it is expected that this will boost the growth of the market in the future.”
According to the report, one of the major drivers in this market is the huge untapped potential in the emerging market. Many countries in the APAC region, such as Bangladesh, Indonesia, and the Philippines, have huge MSME segments that remain underserved and, if catered to, can result in higher revenue for the Banking and Financial sector.
Further, the report states that one of the main challenges is the strong decline in the demand for goods and services. Owing to the repercussions caused by the global financial crisis, there has been a retraction in the demand for goods and services. This has forced the MSME sector to cut down production, and, consequently, the demand for MSME financing has reduced.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-micro-small-and-medium-enterprise…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global Micro, Small, and Medium Enterprise Financing Market 2014-2018
