Credit Bureaus Global Market Is Expected To Grow At A Rate Of More Than 12% Through 2023 – 2027
12 Jul, 2023
The global credit bureau market size is expected to grow from $108.93 billion in 2022 to $124.99 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global credit bureau market size is expected to reach $201.09 billion in 2027 at a CAGR of 12.6%.
Global Credit Bureaus Market Key Driver
The rising demand for credit cards is projected to move the credit bureau business forward in the next years. A credit card is an alternative to cash or checks that often provides an unsecured revolving line of credit. Other than helping to increase credit scores, credit card issuers send information to credit bureaus about cardholder activities, which helps in checking individual credit scores on which customers can approach for a loan and also offers benefits such as unlimited reward points on usage, insurance coverage, discounts, and cashback.
Get a sample of the global credit bureaus market reportGlobal Credit Bureaus Market Segments
The global credit bureaus market is segmented:
1) By Product Type: Credit Score, Credit Reports, Credit Check Services
2) By Report Type: Corporate Credit Reports, Individual Credit Reports
3) By End User: Commercial, Consumer
4) By Geography: The regions covered in the credit bureaus market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global credit bureaus market.
Major Credit Bureaus Industry Players
FICO, Equifax, Experian, Trans Union, Moody's corporation, S&P Global Inc., TransUnion LLC, Dun and Bradstreet, S andP Global Inc., FIS Inc., Global Database Ltd., Global Payments Inc., Intuit Inc., Illion Data Registries Pty. Ltd., SCHUFA Holding AG, The Coface Group
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Credit Bureaus Market Overview
A credit bureau is a business that gathers and analyses information about a person's credit history and then sells it to lenders for a fee so they can decide whether to extend credit or make loans to that person.
Credit Bureaus Global Market Report 2023 provides data on the global credit bureaus market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The credit bureaus market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.