PUBLISHER: The Business Research Company | PRODUCT CODE: 1750954
PUBLISHER: The Business Research Company | PRODUCT CODE: 1750954
Credit scoring refers to the use of statistical models and algorithms to evaluate an individual's or business's creditworthiness based on their financial history, credit behavior, and other relevant factors. It assigns a numerical score that indicates the likelihood of timely debt repayment. Credit scoring helps assess the risk associated with lending and supports responsible credit decisions.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The primary types of credit scoring models include statistical models, machine learning models, and expert system models. Statistical models are mathematical frameworks that represent, analyze, and interpret data by identifying relationships between variables. The data sources used in credit scoring include internal data, external data, and alternative data. These are applied in areas such as consumer lending, business lending, mortgage financing, and fraud detection. Key end-users of credit scoring solutions include banks, non-banking financial institutions, as well as companies in the telecommunications and retail sectors.
The credit scoring market research report is one of a series of new reports from The Business Research Company that provides credit scoring market statistics, including credit scoring industry global market size, regional shares, competitors with a credit scoring market share, detailed credit scoring market segments, market trends and opportunities, and any further data you may need to thrive in the credit scoring industry. This credit scoring 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 scoring market size has grown rapidly in recent years. It will grow from$20.91 billion in 2024 to $23.46 billion in 2025 at a compound annual growth rate (CAGR) of 12.2%. The growth during the historic period can be attributed to increasing consumer borrowing, the rise of digital banking, regulatory compliance needs, growing demand for faster loan approvals, the rising incidence of identity fraud, the availability of big data, and the globalization of financial services.
The credit scoring market size is expected to see rapid growth in the next few years. It will grow to$36.71 billion in 2029 at a compound annual growth rate (CAGR) of 11.8%. This growth in the forecast period can be attributed to the increasing use of mobile banking, rising demand for personalized financial products, a surge in buy-now-pay-later services, a focus on financial inclusion, regulatory pushes for transparent scoring models, and the growing use of open banking platforms. Key trends in the forecast period include 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 credit scoring platforms, the application of natural language processing, biometric authentication integration, and the use of predictive analytics for risk assessment.
The rise in online transactions is expected to propel the growth of the credit-scoring market in the coming years. Online transactions, which involve buying or selling goods and services over the internet, are increasing due to the expansion of e-commerce platforms that offer unmatched convenience, a wide range of products, competitive pricing, and seamless digital payments. These platforms allow users to shop and pay anytime, anywhere. Credit scoring plays a crucial role in online transactions by enabling quick and reliable assessments of consumer creditworthiness, making it easier for lenders and merchants to approve purchases. It helps reduce financial risk by verifying buyer credibility and enhancing trust and security in digital commerce. For example, in February 2025, MageComp, an India-based website development and digital marketing agency, reported that digital wallet usage surpassed 2 billion users in 2024, marking a 10% annual increase. As such, the rise in online transactions is fueling the growth of the credit-scoring market.
Leading companies in the credit scoring market are focusing on integrating innovative solutions such as business credit evaluation to enhance risk assessment accuracy, streamline lending processes, and expand credit access to underserved segments. Business credit evaluation assesses a company's creditworthiness based on its financial health, credit history, payment behavior, and other relevant factors. For example, in May 2023, Equifax Inc., a U.S.-based credit bureau company, launched OneScore, an innovative credit scoring model for commercial credit. This model enhances financial inclusion by providing a comprehensive view of a business's creditworthiness, enabling lenders to approve more loans without increasing risk. It benefits small businesses by expanding their access to credit, supporting economic growth, and facilitating more efficient credit decisions.
In April 2024, Fintech Galaxy Ltd., a UAE-based financial technology company, partnered with FinbotsAI to enhance credit risk assessment and lending decision-making across the Middle East and North Africa (MENA) region. This collaboration integrates FinbotsAI's AI-powered credit scoring platform with Fintech Galaxy's open banking infrastructure. FinbotsAI, a Singapore-based artificial intelligence company, specializes in AI-driven credit scoring and risk management solutions for the financial services sector.
Major players in the credit scoring market are 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, PayCrunch Technologies Private Limited.
North America was the largest region in the credit scoring market in 2024. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in credit scoring report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the credit scoring market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The credit scoring market includes revenues earned by entities by providing services such as credit risk assessment, credit score generation, credit monitoring, fraud detection, customer profiling, and decision analytics for lending and financial institutions. 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.
Credit Scoring Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on credit scoring market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for credit scoring ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The credit scoring market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.