Global Credit Scoring Market Growth: Projected to Reach Template Billion by 2029 with an Impressive 11.8% CAGR

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The Business Research Company’s Credit Scoring Global Market Report 2025 – Market Size, Trends, And Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, May 29, 2025 /EINPresswire.com/ -- According to the Business Research Company’s latest insights, several factors will enable the credit scoring market to expand from $20.91 billion in 2024 to $23.46 billion in 2025 at a compound annual growth rate CAGR of 12.2%. These include increases in consumer borrowing, a surge in digital banking, regulatory compliance needs, demand for faster loan approvals, rising identity fraud cases, availability of big data, and the globalization of financial services.

How Is The Credit Scoring Market Expected To Evolve In The Upcoming Years?
The credit scoring market size is anticipated to witness rapid expansion, growing to $36.71 billion in 2029 at a compound annual growth rate CAGR of 11.8%. This growth can be attributed to the increasing prevalence of mobile banking, a rising demand for personalized financial products, burgeoning buy now pay later services, regulatory push for transparent scoring, and enhanced use of open banking platforms. Simultaneously, novel trends like the use of artificial intelligence AI and machine learning algorithms, the adoption of alternative data analytics, integration with blockchain technology, real-time credit scoring systems, cloud-based platforms, use of natural language processing, biometric authentication integration, and predictive analytics for risk assessment are major influencers.

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What Is Unequivocally Driving The Growth Of The Credit Scoring Market?
A crucial driver of this credit scoring market 's growth is the global rise in online transactions. These digital undertakings, which include buying or selling goods and services over the internet, are on the rise due to the expansion of e-commerce platforms. They offer unmatched convenience, diverse products, competitive pricing, and seamless digital payments, enabling users to shop and pay anytime, anywhere. Credit scoring buttresses online transactions by facilitating quick and reliable assessment of consumer creditworthiness, making it easier for lenders and merchants to approve purchases. They minimize financial risk by validating buyer credibility and bolstering trust and security in digital commerce. For instance, in February 2025, digital wallet usage surpassed two billion users, marking a 10% annual increase according to MageComp, an India-based website development and digital marketing agency. Thus, the increasing volume of online transactions is providing a significant boost to the growth of the credit-scoring market.

Who Are The Key Industry Players Steering Growth In The Credit Scoring Market?
The credit scoring market landscape is dominated by major companies like Intuit, Experian plc, Equifax Inc., TransUnion LLC, Fair Isaac Corporation, CRIF Realtime Ltd, Creditsafe Group, CTOS Digital Berhad, Kreditech, Trusting Social Company Limited, Creditinfo Group hf., Zest AI, Nova Credit, Levine Leichtman Capital Partners, CredoLab, ITGalax Solutions Pvt Ltd, Radix Analytics Pvt Ltd., SAS Institute, VantageScore Solutions LLC, and PayCrunch Technologies Private Limited.

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What Are The Emerging Trends In The Credit Scoring Market?
Emerging trends reveal that these companies are consistently integrating innovative solutions like business credit evaluation to enhance risk assessment accuracy, streamline lending processes, and expand access to credit for under-represented segments. For instance, in May 2023, US-based credit bureau company Equifax Inc., launched an innovative credit scoring model called OneScore. This business-centric solution provides a holistic view of a business, allowing lenders to approve more loans without increasing risk, expanding credit access for small enterprises, facilitating economic growth, and enabling more efficient credit decisions.

How Is The Credit Scoring Market Segmented?
The credit scoring market report segments the market based on:
1 Type: Statistical Models, Machine Learning Models, Expert System Models
2 Data Source: Internal Data, External Data, Alternative Data
3 Purpose: Consumer Lending, Business Lending, Mortgage Financing, Fraud Detection
4 End-User: Banking, Non-Banking Financial Institutions, Telecommunications, Retail

Further, it dives into subsegments on statistical models like logistic regression, scorecard models, and linear discriminant analysis; expert system models like rule-based systems and hybrid expert systems; and machine learning models including decision trees, random forest, and support vector machines SVM, among others.

What Regional Insights Are There Into The Credit Scoring Market?
These dynamics vary across geographies. North America was the largest region in the credit scoring market in 2024. However, Asia-Pacific is expected to be the fastest-growing region looking ahead. Besides these, other regions evaluated include Western Europe, Eastern Europe, South America, Middle East, and Africa.

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