Credit Bureaus Market Report 2025

The credit bureaus market size has grown rapidly in recent years. It will grow from $109.59 billion in 2024 to $123.89 billion in 2025 at a compound annual growth rate (CAGR) of 13%. The growth in the historic period can be attributed to lending industry growth, financial inclusion initiatives, regulatory compliance and reporting requirements, risk management in financial institutions, consumer credit awareness.

The credit bureaus market size is expected to see rapid growth in the next few years. It will grow to $191.22 billion in 2029 at a compound annual growth rate (CAGR) of 11.5%. The growth in the forecast period can be attributed to alternative data sources and machine learning, emergence of open banking, cybersecurity concerns and data protection, government initiatives for financial inclusion, changes in consumer behavior. Major trends in the forecast period include technology advancements in data processing, digital transformation in banking and finance, alternative data integration, blockchain for identity verification, focus on consumer empowerment.

The surge in demand for credit cards is anticipated to fuel the expansion of the credit bureau market in the foreseeable future. Credit cards serve as a cash or check alternative, commonly offering an unsecured revolving credit line. Credit card providers regularly furnish credit bureaus with cardholder activity data, aiding in assessing individual creditworthiness. This information forms the basis for customers' loan eligibility and also grants perks such as unlimited reward points, insurance coverage, discounts, cashback, and the improvement of credit scores. For instance, as per the Federal Reserve Bank's November 2022 report, the credit card application rate in the US increased from 26.5% in 2021 to 27.1% in 2022. Consequently, the rising demand for credit cards is propelling the expansion of the credit bureau market.

Anticipated growth in the credit bureau market is driven by an escalating national unemployment rate. The upsurge in unemployment signifies a larger portion of the workforce actively seeking jobs but unable to secure employment, signaling economic hardships and potential societal ramifications. This trend can significantly impact credit bureaus due to the financial challenges faced by unemployed individuals, resulting in delayed bill payments and heightened credit utilization. For instance, as of November 2023, the U.S. Bureau of Labor Statistics (BLS) reported a national unemployment rate of 3.7%. The BLS also supplies comprehensive historical data, including state-specific unemployment rates, available in their State Employment and Unemployment Summary reports. These invaluable data sources enable a profound understanding of labor market dynamics and serve as vital tools for credit bureaus to evaluate credit risks, furnishing businesses and lenders with comprehensive credit reports.

Leading companies in the credit bureau market are focusing on enhancing credit assessment solutions like household-level credit reports to streamline loan underwriting and give lenders a comprehensive view of applicants' financial situations. Household-level credit reports allow lenders to evaluate the creditworthiness and financial capacity of an entire household, thereby improving risk assessment and simplifying the loan approval process. For example, in February 2023, Equifax Credit Information Services Private Limited (ECIS), a U.S.-based credit bureau and consumer credit company, introduced the Household Combined Credit Report specifically for the microfinance sector. This innovative tool enables lenders to assess an applicant’s credit capacity at the household level rather than solely on individual profiles, offering a detailed view of household income, equated monthly installment (EMI) obligations, and total credit exposure in a single inquiry.

Leading companies in the credit bureau market are increasingly adopting strategic partnerships to improve technology integration and broaden their market reach. Strategic partnerships allow organizations to leverage each other's resources and expertise to pursue shared goals. For example, in August 2024, ADVANCE.AI, a Singapore-based provider of AI-powered digital identity verification, risk management, and compliance solutions, formed a partnership with Credit Information Corporation (CIC), the Philippines' credit information provider, to launch a new credit bureau in the Philippines. This collaboration enhances credit reporting and scoring services for fintechs, digital banks, thrift banks, and other financial entities. By increasing access to credit data, it supports financial inclusion, boosts competition, and facilitates easier access to credit for MSMEs and individual borrowers, including non-bank lenders who now have access to comprehensive credit information.

Equifax, a consumer credit reporting agency based in the US, completed the acquisition of Data-Crédito in March 2022, with the specific financial terms undisclosed. This strategic acquisition empowers Equifax to provide financial institutions with enhanced access to valuable insights into clients' financial profiles during the lending process. By leveraging this new capability, Equifax aims to responsibly extend a wider range of mainstream financial service options to underbanked individuals. Data-Crédito, the acquired entity, operates as a consumer credit reporting agency based in the Dominican Republic.

Major companies operating in the credit bureaus market include Experian, Equifax, TransUnion, FICO, Credit Karma, Innovis, CoreLogic, VantageScore Solutions, CreditSafe, SageStream, ClearScore, ID Analytics, CRIF, FactorTrust, Experian Information Solutions, Equifax Information Services, TransUnion Interactive, Aequitas Solutions, NCTUE, SmartCredit, LexisNexis Risk Solutions, CIBIL, CreditReports.com, Microbilt, Creditera.

North America was the largest region in the credit bureau market in 2024. The regions covered in the credit bureaus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the credit bureaus market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Credit bureaus collect and analyze credit history information, selling it to lenders to aid in their decision-making regarding extending credit or loans to individuals.

Credit bureaus offer three primary product types such as credit scores, credit reports, and credit check services. Credit scoring involves statistical analysis utilized by lenders and financial institutions to assess the creditworthiness of individuals or small, owner-operated businesses. Reports come in various types, including corporate and individual credit reports. These products cater to a range of end-users, including commercial entities and consumers seeking credit-related information.

The credit bureau market research report is one of a series of new reports that provides credit bureau market statistics, including credit bureau industry global market size, regional shares, competitors with a credit bureau market share, detailed credit bureau market segments, market trends, and opportunities, and any further data you may need to thrive in the credit bureau industry. This credit bureau market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The credit bureau market includes revenues earned by entities providing credit services such as credit account information, including payment history, the balance of an account, the date of the last financial activity, risk score, and the credit limit on the account. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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