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Marketplace Lending (Consumer) - Chad

Chad

Chad's total transaction value in the MarketMarketplace Lending (Consumer) market market is forecasted to reach US$0.0 in 2024.
When comparing globally, the United States leads with a transaction value of US$26,720m in 2024.
The Key Market Indicators offer a snapshot of the social and economic landscape of Chad, shedding light on market-specific trends.
These indicators, combined with data from statistical agencies, trade bodies, and enterprises, underpin the Statista market projections.
Chad's marketplace lending sector is gaining traction as consumers turn to alternative capital raising methods amidst traditional banking challenges.

Key regions: Singapore, United States, Israel, United Kingdom, Australia

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Analyst Opinion

Marketplace lending (consumer) in Chad is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors are all contributing to this positive trajectory.

Customer preferences in Chad are shifting towards marketplace lending due to its convenience and accessibility. Traditional banking services can be difficult to access for many Chadians, especially those in rural areas. Marketplace lending platforms provide a convenient and user-friendly alternative, allowing borrowers to access loans quickly and easily.

Additionally, the ability to compare different loan offers and choose the most favorable terms is appealing to borrowers in Chad. Trends in the marketplace lending market in Chad are also driving its growth. One notable trend is the increasing use of mobile technology for financial transactions.

Mobile penetration in Chad has been steadily increasing, making it easier for borrowers to access marketplace lending platforms through their smartphones. This trend is expected to continue as mobile technology becomes even more widespread in the country. Another trend in the marketplace lending market in Chad is the focus on financial inclusion.

Many Chadians, particularly those in rural areas, have limited access to formal financial services. Marketplace lending platforms are filling this gap by providing loans to individuals who may not have been able to access traditional banking services. This trend is aligned with global efforts to promote financial inclusion and reduce poverty.

Local special circumstances in Chad also contribute to the development of the marketplace lending market. The country has a predominantly cash-based economy, with limited access to formal banking services. This creates a need for alternative financial solutions, such as marketplace lending platforms.

Additionally, Chad has a young and growing population, which presents a significant market opportunity for marketplace lenders. Underlying macroeconomic factors are also playing a role in the growth of the marketplace lending market in Chad. The country has experienced economic growth in recent years, driven by sectors such as agriculture, mining, and construction.

This has resulted in an increase in disposable income and a growing middle class, creating a larger pool of potential borrowers. Additionally, the government of Chad has been implementing reforms to improve the business environment and attract foreign investment, which is likely to support the growth of the marketplace lending market. In conclusion, marketplace lending (consumer) in Chad is developing rapidly due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.

The convenience and accessibility of marketplace lending platforms, along with the increasing use of mobile technology, are driving customer preferences. The focus on financial inclusion and the need for alternative financial solutions in a predominantly cash-based economy are contributing to the market's growth. Furthermore, underlying macroeconomic factors such as economic growth and government reforms are creating a favorable environment for marketplace lending in Chad.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.