A lead analyst at AMR highlighted that the peer-to-peer lending market across Asia-Pacific is anticipated to achieve the highest CAGR during the forecast period.
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Allied Market Research published a research report on the peer-to-peer lending market. The findings of the report state that the global market for peer-to-peer lending generated $67.9 million in 2019, and is projected to reach $558.9 million by 2027, witnessing a CAGR of 29.7% from 2020 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenarios for market players, investors, shareholders, and new entrants.
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The report provides detailed insights on the drivers, restraints, and opportunities to help the market players in devising several growth strategies. Advancements in technology in traditional banking systems to enhance transparency and low operating cost and risk drive the growth of the peer-to-peer lending market. However, a lack of awareness about the advantages of P2P lending and strict government regulations impede market growth. Nevertheless, the rise of small businesses and growth in the Chinese market provides prolific growth opportunities for the industry.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the peer-to-peer lending market globally. The outbreak of the COVID-19 pandemic impacted the global peer-to-peer lending market negatively. Depositors transferred their deposits to traditional and major banks to ensure security. Many investors declared issues associated with liquidity, which is why many P2P platforms were shut down. The economic crisis that took place during the pandemic raised the demand for online loans in developing countries.
“The consumer credit loan segment is expected to experience significant growth in the coming years, owing to rise in cash loans supplies and sales credit loans supplies among lenders and increase in trend of credit cash loans among individuals,” said Aarti Goswami, Research Analyst, BFSI at Allied Market Research.
The report offers a detailed segmentation of the global peer-to-peer lending market based on a business model, type, end user, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest-growing and largest revenue-generating segments to accomplish growth in the future.
Based on the business model, the traditional lending segment was the largest market in 2019, grabbing nearly four-fifths of the global peer-to-peer lending market share and would dominate through 2027. However, the alternate marketplace lending segment is anticipated to grow at the fastest CAGR of 31.8% during the forecast period.
By type, the business lending segment held the largest share in 2019, contributing to nearly two-thirds of the global peer-to-peer lending market share, and would maintain noteworthy growth through 2027. However, the consumer lending segment is expected to exhibit the fastest CAGR of 30.6% during the forecast period.
Based on region, the peer-to-peer lending market across North America accounted for the highest share in 2019, capturing more than two-thirds of the overall market, and would maintain its leadership in terms of revenue through 2027. However, the market across Asia-Pacific is anticipated to achieve the highest CAGR of 40.4% during the forecast period.
The leading market players analyzed in the global peer-to-peer lending market report include Avant, LLC., Kabbage Inc., LendingTree, LLC., Prosper Funding LLC., Social Finance, Inc., Funding Circle, Lending Club Corporation, OnDeck, RateSetter, Zopa Bank Limited.
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