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Micro, small and medium enterprises (MSME) are one of the key economic segments that drives the growth of the GDP by boosting the manufacturing and exports of the economy. The adoption of improved risk management practices by the financial institutions is one of the key drivers for the growth of this market. Technavio’s research analyst predicts the MSME financing market to grow at a rate of 19% during the forecast period.
The increasing focus of MSME banks toward emerging markets is also expected to drive the growth of the global MSME financing market during the forecast period. Countries in the East and South Asian region, such as Bangladesh, Indonesia, and the Philippines have huge MSME segments which remain untapped and can result in a boost in the revenue for the banking and financial sector.
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