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Study Period | 2020 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Market Size (2025) | USD 18.63 Billion |
Market Size (2030) | USD 24.81 Billion |
CAGR (2025 - 2030) | 5.90 % |
Market Concentration | High |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
United States Credit Agency Market Analysis
The United States Credit Agency Market size is estimated at USD 18.63 billion in 2025, and is expected to reach USD 24.81 billion by 2030, at a CAGR of 5.9% during the forecast period (2025-2030).
The United States credit rating agency market continues to evolve amid significant macroeconomic shifts and changing consumer behavior patterns. The national debt per capita has shown a consistent upward trajectory, reaching USD 98,499.62 in 2023, reflecting broader economic pressures and lending patterns. This trend has coincided with generational shifts in debt distribution, with Generation X (ages 43-58) carrying the highest average debt at USD 157,560, followed by Millennials at USD 125,050, highlighting the varying credit information needs across demographic segments. The rising debt levels have intensified the need for sophisticated credit risk management mechanisms, prompting agencies to enhance their evaluation methodologies and risk assessment frameworks.
The credit rating agency industry maintains a highly concentrated structure, with only ten Nationally Recognized Statistical Rating Organizations (NRSROs) operating by the end of 2023. The market's composition reveals interesting patterns, with government securities dominating the outstanding credit ratings at 78.6% of total ratings, followed by asset-backed securities at 7.7% and financial institutions at 6.8%. This concentration has led to increased scrutiny of rating methodologies and the need for enhanced transparency in credit evaluation processes, particularly in structured finance markets where complexity and credit risk assessment accuracy remain crucial concerns.
Technological advancement has become a cornerstone of the credit bureau market's evolution, with firms increasingly leveraging sophisticated quantitative models and alternative credit data sources. The industry has witnessed a remarkable improvement in credit scoring accuracy, reflected in the steady rise of the average FICO score to 715 in 2023, marking a positive trend in overall consumer creditworthiness. Rating agencies are increasingly incorporating big data analytics, satellite imagery, and social media sentiment analysis to enhance their assessment capabilities, moving beyond traditional financial metrics to provide more comprehensive credit reporting evaluations.
The market has experienced a significant shift in consumer engagement with credit services, particularly in the direct-to-consumer segment. Financial services firms dominate the client base, accounting for 39% of revenue, followed by direct-to-consumer services at 16%, demonstrating the growing importance of retail credit monitoring services. This transformation has been accompanied by the emergence of new service offerings, including identity theft protection, financial counseling, and personalized credit management tools, reflecting the industry's response to evolving consumer needs and technological capabilities. Rating agencies are increasingly focusing on transparency and educational initiatives, helping consumers better understand and manage their credit profiles while maintaining the integrity of their assessment methodologies.
United States Credit Agency Market Trends
Rising Consumer Credit and Financial Innovation
The expanding consumer credit landscape has fundamentally transformed the credit agency market, driven by escalating national debt per capita, which reached $98,499.62 in 2023. This reflects the growing complexity of consumer financial obligations. This trend is further evidenced by the varying debt levels across generations, with Generation X carrying the highest average debt of $157,560, followed by Millennials at $125,050, highlighting the diverse credit monitoring needs across different demographic segments. The increasing sophistication of credit products and rising consumer awareness have led to a steady improvement in credit scoring, as demonstrated by the upward trajectory of average FICO scores, which reached 715 in 2023, indicating a growing emphasis on credit health monitoring.
The evolution of consumer credit has prompted credit agencies to develop more nuanced and comprehensive credit risk assessment tools. Financial institutions are increasingly seeking refined credit decisioning capabilities to evaluate complex credit portfolios, driving demand for specialized credit reporting services. This transformation is particularly evident in the expansion of credit monitoring services, with agencies broadening their data collection efforts to include alternative sources such as utility payments, rental histories, and telecommunications data. The integration of these diverse credit data points has necessitated substantial investments in data processing infrastructure and specialized expertise, fundamentally reshaping how creditworthiness is assessed and monitored in the modern financial landscape.
Technological Advancement and Data Analytics
The credit agency market is experiencing a profound transformation driven by technological innovation, particularly in the realm of quantitative models and algorithms that have revolutionized credit analytics methodologies. Modern rating agencies have moved beyond traditional qualitative analysis, incorporating sophisticated quantitative models that leverage financial ratios, market data, and macroeconomic indicators for more precise risk evaluation. This technological evolution has been marked by the integration of machine learning algorithms, including random forests and neural networks, which significantly enhance predictive accuracy by processing vast datasets. The implementation of these advanced analytics capabilities has enabled credit agencies to provide more accurate and timely credit intelligence, meeting the growing demand for real-time credit intelligence.
The emergence of big data analytics has fundamentally altered the credit rating landscape, providing agencies with access to an unprecedented variety of non-traditional data sources. Credit agencies are now leveraging insights from diverse sources, including social media sentiment, satellite imagery, supply chain data, and transaction records, to create more comprehensive credit profiles. This technological advancement has been accompanied by a significant digital transformation in service delivery, with agencies offering interactive platforms, webinars, and mobile applications for information dissemination. The industry has witnessed substantial disruption from fintech platforms, with industry leaders like Bloomberg and S&P Capital IQ spearheading the integration of real-time data analytics and robust analytical tools, while blockchain technology emerges as a promising solution for enhancing transparency and reducing fraud in credit markets.
Economic Growth and Market Expansion
The credit agency market's expansion is intrinsically linked to broader economic growth, as evidenced by the substantial volume of outstanding credit ratings across various sectors. As of December 2022, the total outstanding credit ratings reached 2,125,944 million USD, with government securities accounting for 78.6% of all ratings, followed by asset-backed securities at 7.7% and financial institutions at 6.8%. This distribution reflects the growing complexity and diversification of financial markets, driving demand for sophisticated credit scoring services. The expansion of financial markets has led to the emergence of new market segments with distinct credit risk profiles, enabling credit agencies to broaden their service offerings and reach new clientele.
The economic landscape has fostered increased financial innovation, prompting credit agencies to develop new scoring models and risk assessment tools to address evolving market needs. This innovation is particularly evident in the structured finance market, where credit agencies play a crucial role in evaluating complex financial instruments. The market expansion has been characterized by the introduction of specialized products tailored to specific industry sectors, with financial services firms representing the largest client segment. This growth has been supported by enhanced data collection and reporting practices, providing credit agencies with richer datasets to refine their models and improve the accuracy of their assessments. The stable economic environment has also bolstered investor confidence, leading to increased demand for credit ratings to evaluate investment opportunities across various asset classes.
Segment Analysis: By Client Type
Commercial Segment in US Credit Agency Market
The commercial segment dominates the United States credit agency market, commanding approximately 56% market share in 2024. This segment's prominence is driven by the increasing demand from businesses seeking business credit reporting and credit verification for various purposes, including mergers and acquisitions, debt issuance, and risk management. Commercial credit ratings have become increasingly crucial as businesses navigate complex financial landscapes and regulatory requirements. The segment's strength is further reinforced by the growing adoption of sophisticated credit evaluation tools by financial institutions, insurance companies, and corporate entities. Additionally, the rise in structured finance products and the need for comprehensive credit evaluation of business partners and suppliers have contributed to the segment's market leadership. The commercial segment also benefits from an increased focus on supply chain resilience and vendor assessment, making credit ratings an essential tool for business decision-making.
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Individual Segment in US Credit Agency Market
The individual segment is projected to be the fastest-growing segment in the US credit agency market, with an expected growth rate of approximately 6% from 2024 to 2029. This accelerated growth is primarily driven by increasing consumer awareness about the importance of consumer credit information and credit monitoring in financial decision-making and the growing adoption of credit monitoring services. The segment's expansion is further fueled by the rising demand for identity theft protection services and the increasing integration of alternative data sources in consumer credit assessment. Financial institutions are increasingly focusing on personalized credit products, driving the need for more sophisticated individual credit evaluation services. The growth is also supported by the rising popularity of digital banking platforms and fintech applications that require real-time credit assessment capabilities. Moreover, the increasing emphasis on financial literacy and credit education programs has created a more informed consumer base, leading to higher demand for individual credit monitoring and management services.
Segment Analysis: By Vertical
Financial Services Segment in US Credit Agency Market
The financial services segment dominates the US credit agency market, commanding approximately 39% of the total market share in 2024. This substantial market presence is driven by the critical role credit reporting and credit information play in the financial sector's risk management and decision-making processes. Financial institutions heavily rely on credit assessments for evaluating creditworthiness, managing investment portfolios, and complying with regulatory requirements. The segment's prominence is further reinforced by the increasing complexity of financial instruments, including derivatives and structured products, which require sophisticated credit assessments. Banks, insurance companies, and investment funds utilize these ratings to guide their lending, underwriting, and investment decisions, while also leveraging them for mergers and acquisitions to gauge financial viability and strategic alignment.
Media & Technology Segment in US Credit Agency Market
The media and technology segment is emerging as the fastest-growing vertical in the US credit agency market, with a projected growth rate of approximately 9% during 2024-2029. This remarkable growth is primarily driven by the sector's rapid digital transformation and increasing need for sophisticated credit verification tools. The segment's expansion is fueled by the growing convergence of media and technology, creating new opportunities for investment and requiring more complex credit evaluation mechanisms. Technology companies are increasingly seeking credit ratings to showcase their financial resilience and regulatory compliance, particularly as they navigate evolving data privacy, cybersecurity, and antitrust concerns. The shift toward digital platforms and streaming services has also created new financing needs, driving demand for credit rating services among media companies.
Remaining Segments in US Credit Agency Market
The US credit agency market encompasses several other significant verticals, each contributing uniquely to the market dynamics. Retail and e-commerce represent a substantial portion, driven by digital transformation and evolving consumer behaviors. Healthcare continues to be vital, particularly as facilities seek capital for expansions and technological upgrades. The software and professional services segment maintains its significance through continuous innovation and global expansion needs. Government and public sector entities rely on ratings for debt issuance and infrastructure development. The automotive sector's transformation toward electric vehicles creates new rating requirements, while telecom and utilities focus on infrastructure investments and technological advancement. Direct-to-consumer services continue to evolve with an increasing focus on financial literacy and consumer empowerment.
United States Credit Agency Industry Overview
Top Companies in United States Credit Agency Market
The US credit agency market is led by established players, including Experian PLC, S&P Global, Moody's Corporation, Equifax, TransUnion, and Fair Isaac Corporation. These industry leaders are driving innovation through advanced credit analytics and the integration of artificial intelligence into their credit scoring models and risk assessment tools. Companies are demonstrating operational agility by rapidly adapting to changing market conditions and regulatory requirements while expanding their digital capabilities through cloud-based solutions and API integrations. Strategic partnerships with fintech companies and technology providers are becoming increasingly common as firms seek to enhance their service offerings and reach new market segments. Geographic expansion and service diversification efforts are evident through acquisitions and collaborations, particularly in areas like ESG ratings, alternative data analytics, and specialized industry solutions.
Consolidated Market with High Entry Barriers
The US credit agency market exhibits a highly consolidated structure dominated by global conglomerates with extensive data repositories and established relationships with financial institutions. These major players have built formidable competitive advantages through decades of data accumulation, sophisticated analytics capabilities, and regulatory compliance expertise. The market's high concentration is further reinforced by significant barriers to entry, including substantial technological infrastructure requirements, stringent regulatory oversight, and the need for extensive historical data. Recent years have witnessed strategic acquisitions focused on expanding technological capabilities and entering specialized market segments.
The competitive dynamics are shaped by the incumbents' strong market positions and their ability to leverage economies of scale in data processing and analytics. Merger and acquisition activities primarily focus on technology acquisition and capability enhancement rather than market consolidation, as the major players seek to strengthen their digital transformation initiatives and expand their service portfolios. The market structure is characterized by high customer switching costs due to the integrated nature of credit bureau services and the complexity of transitioning between providers, which further reinforces the position of established players.
Innovation and Adaptability Drive Market Success
Success in the US credit agency market increasingly depends on firms' ability to innovate through alternative data sources, advanced analytics, and artificial intelligence while maintaining regulatory compliance. Incumbent players must focus on expanding their service offerings beyond traditional credit reference reporting to include specialized industry solutions, risk analytics, and decision support tools. The integration of alternative data sources and the development of more inclusive credit scoring models present opportunities for market expansion. Companies must also invest in cybersecurity and data privacy measures while building stronger relationships with both traditional financial institutions and emerging fintech players.
For new entrants and smaller players, success lies in identifying and serving underserved market segments or specialized industry niches. The ability to offer innovative solutions that address specific industry challenges or leverage new technologies can provide opportunities for market penetration. Regulatory compliance remains a critical factor, with firms needing to navigate complex regulatory requirements while maintaining operational efficiency. The increasing focus on ESG considerations and sustainability metrics also presents opportunities for differentiation and market expansion, particularly as these factors become more important in credit risk management and investment decision-making.
United States Credit Agency Market Leaders
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Equifax inc.
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Transunion
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Experian Plc
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Fair Isaac Corp
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Moody's Corporation
- *Disclaimer: Major Players sorted in no particular order
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United States Credit Agency Market News
- June 2024: Equifax unveiled an education verification tool, Talent Report High School, tailored to assist employers and background screeners in confirming high school diploma details during pre-employment checks. This solution offers real-time verification of US high school diploma data, made possible by its direct integration with the National Student Clearinghouse.
- June 2024: TransUnion and Asurint Partnered to offer cutting-edge screening solutions for Multifamily Property Managers. Multifamily property managers grapple with the demanding responsibility of screening applicants. They must efficiently perform comprehensive criminal background checks while navigating stricter consumer privacy laws. TransUnion unveiled a strategic alliance with Asurint to deliver a compliance-centric approach to criminal background screening.
United States Credit Agency Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
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4.1 Market Overview
- 4.1.1 Demographic and Macroeconomic Factors Impacting Rating Agencies in the US Industry
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4.2 Market Drivers
- 4.2.1 Rising Demands Of Credit Reports With Increasing Fraud And Cyber Threats
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4.3 Market Restraints
- 4.3.1 Conflict Of Interest In Credit Rating Agency Business Model
- 4.4 Regulatory Landscape and Industry Policies Impacting the Market
- 4.5 Key Technological Advancement Shaping the Market
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4.6 Industry Attractiveness - Porter's Five Forces Analysis
- 4.6.1 Bargaining Power of Buyers
- 4.6.2 Bargaining Power of Suppliers
- 4.6.3 Threat of New Entrants
- 4.6.4 Threat of Substitutes
- 4.6.5 Intensity of Competitive Rivalry
- 4.7 Insights on Consumer Debt Trends in the Market
- 4.8 Insights on Role of Credit Rating Agencies in Structured Finance Market
- 4.9 Impact of Covid-19 on the Market
5. MARKET SEGMENTATION
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5.1 By Client Type
- 5.1.1 Individual
- 5.1.2 Commercial
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5.2 By Vertical
- 5.2.1 Direct-to-Consumer
- 5.2.2 Government and Public Sector
- 5.2.3 Healthcare
- 5.2.4 Financial Services
- 5.2.5 Software and Professional Services
- 5.2.6 Media and Technology
- 5.2.7 Automotive
- 5.2.8 Telecom and Utilities
- 5.2.9 Retail and E-commerce
- 5.2.10 Other Verticals
6. COMPETITIVE LANDSCAPE
- 6.1 Market Concentration Overview
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6.2 Company Profiles
- 6.2.1 Equifax Inc.
- 6.2.2 Transunion
- 6.2.3 Experian PLC
- 6.2.4 Fair Isaac Corp.
- 6.2.5 Moody's Corporation
- 6.2.6 Fitch Ratings
- 6.2.7 S&P Global Inc.
- 6.2.8 Kroll Bond Rating Agency (KBRA)
- 6.2.9 Morningstar DBRS
- 6.2.10 A.M Best Ratings*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
United States Credit Agency Industry Segmentation
A credit agency is a for-profit entity that gathers data on individuals' and businesses' debts. It then evaluates this data to generate a credit score, a numerical representation of the borrower's creditworthiness. United States credit agencies are segmented by client type and vertical. By client type, the market is segmented into individual and commercial, and by vertical, the market is segmented into direct-to-consumer, government and public sector, healthcare, financial services, software and professional services, media and technology, automotive, telecom and utilities, retail and e-commerce, and other vertical types. The report offers market size and forecasts for the United States credit agency market in terms of value (USD) for all the above segments.
By Client Type | Individual |
Commercial | |
By Vertical | Direct-to-Consumer |
Government and Public Sector | |
Healthcare | |
Financial Services | |
Software and Professional Services | |
Media and Technology | |
Automotive | |
Telecom and Utilities | |
Retail and E-commerce | |
Other Verticals |
United States Credit Agency Market Research FAQs
How big is the United States Credit Agency Market?
The United States Credit Agency Market size is expected to reach USD 18.63 billion in 2025 and grow at a CAGR of 5.90% to reach USD 24.81 billion by 2030.
What is the current United States Credit Agency Market size?
In 2025, the United States Credit Agency Market size is expected to reach USD 18.63 billion.
Who are the key players in United States Credit Agency Market?
Equifax inc., Transunion, Experian Plc, Fair Isaac Corp and Moody's Corporation are the major companies operating in the United States Credit Agency Market.
What years does this United States Credit Agency Market cover, and what was the market size in 2024?
In 2024, the United States Credit Agency Market size was estimated at USD 17.53 billion. The report covers the United States Credit Agency Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the United States Credit Agency Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
Our Best Selling Reports
United States Credit Agency Market Research
Mordor Intelligence provides a comprehensive analysis of the credit rating agency (CRA) industry. We leverage extensive expertise in credit information and financial information services. Our detailed research covers the entire spectrum of credit reporting and credit bureau operations. This includes business credit reporting, credit monitoring, and credit verification services. The report, available as an easy-to-download PDF, offers in-depth coverage of credit risk management practices, credit scoring methodologies, and evolving trends in credit data analytics.
This authoritative report enables stakeholders to optimize their credit decisioning processes through detailed credit analytics and credit intelligence insights. Our analysis addresses crucial aspects of credit risk assessment and credit evaluation, including sovereign credit rating and corporate credit rating methodologies. The report delivers valuable perspectives on consumer credit information and the reporting of credit history. It supports organizations in enhancing their credit reference systems and overall approach to credit risk management. Stakeholders gain access to actionable insights that drive strategic planning and operational excellence in the dynamic credit agency landscape.