The mortgage/loan broker market size is expected to grow from US$ 297.3 billion in 2023 to US$ 931.24 billion by 2031; it is anticipated to expand at a CAGR of 15.3% from 2023 to 2031. The mortgage/loan broker market trends include favorable regulations, the busy lifestyle of customers, and the demand for cost-effective services.
The mortgage/loan broker industry is embracing digitalization to enhance its customer's services and expand its global reach. This includes the loan brokers having better access to a large number of lenders, which increases customers to get good loan deals. The growing need to save time and effort is expected to drive the mortgage/loan broker market growth during the forecast period.
The scope of the mortgage/loan broker market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant mortgage/loan broker market share. The presence of a large number of service providers such as Bank of America Corp; Royal Bank of Canada; Truist Financial Corp; PennyMac Loan Services, LLC; Qatar National Bank; and Standard Chartered Bank Ltd; among others. These players are continuously engaged in providing loans at low rates. Moreover, the improving macroeconomic situation and growing capital markets are fueling the market during the forecast period.
The regional trends and factors influencing the Mortgage/Loan Broker Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Mortgage/Loan Broker Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 297.3 Billion |
| Market Size by 2031 | US$ 931.24 Billion |
| Global CAGR (2023 - 2031) | 15.3% |
| Historical Data | 2021-2023 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Enterprise Size
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Mortgage/Loan Broker Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Mortgage/Loan Broker Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The "Mortgage/Loan Broker Market Analysis" was carried out based on enterprise size, application, end-user, and geography. In terms of enterprise size, the mortgage/loan broker market is categorized into large enterprises and small and small enterprises (SMEs). On the basis of application, the market is segregated into home loans, commercial and industrial loans, vehicle loans, loans to governments, and others. Based on end-user, the mortgage/loan broker market is segmented into businesses and individuals. By region, the mortgage/loan broker market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
The mortgage/loan broker market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. Companies adopt inorganic and organic strategies such as mergers and acquisitions in the mortgage/loan broker market. A few recent key market developments are listed below:
The market report on “Mortgage/Loan Broker Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-
Rising demand for homeownership, complexity of mortgage products, and growing digitalization are the major factors that propel the global mortgage/loan broker market.
The key players holding majority shares in the global mortgage/loan broker market are Bank of America Corp; Royal Bank of Canada; BNP Paribas SA; Truist Financial Corp; and PennyMac Loan Services, LLC;
The global mortgage/loan broker market is expected to reach US$ 931.24 billion by 2031.
Favorable regulations and the busy lifestyle of customers are impacting the mortgage/loan broker, which is anticipated to play a significant role in the global mortgage/loan broker market in the coming years.
The global mortgage/loan broker market was estimated to be US$ 297.33 billion in 2022 and is expected to grow at a CAGR of 15.3% during the forecast period 2023 - 2031.