Market Size of United States Credit Agency Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 14.36 Billion |
| Market Size (2029) | USD 16.80 Billion |
| CAGR (2024 - 2029) | 3.19 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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United States Credit Agency Market Analysis
The United States Credit Agency Market size is estimated at USD 14.36 billion in 2024, and is expected to reach USD 16.80 billion by 2029, growing at a CAGR of 3.19% during the forecast period (2024-2029).
Credit rating agencies conducted a large number of rating actions in response to the pandemic. Many entities, including corporations, municipalities, and even entire industries, saw their credit ratings adjusted to reflect the heightened risks and uncertainties associated with the pandemic. Downgrades were prevalent, particularly in industries directly affected by lockdowns and travel restrictions.
Healthcare facilities, such as hospitals and clinics, often require significant capital for expansion, renovation, or the purchase of new medical equipment. A good credit rating makes securing loans and financing at favorable interest rates easier, ensuring that healthcare providers have the resources they need to deliver quality care to their patients. This is particularly crucial in a rapidly evolving healthcare landscape in the United States where advancements in medical technology and patient care practice demand constant investments in infrastructure and equipment. Federal government investment in medical and health R&D grew by USD 9.8 billion or 19.0% from 2019 to 2020 and by USD 21.4 billion or 53.5% since 2016.
Moving into the near-term future there are a few potential opportunities trending in favor of the Credit Bureaus if they are willing to be receptive to change. In the future, there will be new revenue streams opening from technology. Platforms such as Experian Boost will create new revenue potential. Now, it is possible to link untraditional consumer accounts together. The purpose of submitting this data to reporting agencies is so they can more accurately reflect your consumer tendencies. Experian Boost is monetarily cost-free to consumers.
