Allied Market Research published a report, titled, “LendTech Market by Component (Solution and Services), Deployment Mode (On-Premises and Cloud), Type (Consumer Lending and Business Lending), Organization Size (Large Enterprises and Small and Medium-sized Enterprises), and End User (Banks, Insurance Companies, Credit Unions and NBFCs) And Region (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2031″
According to the report, the global lendtech industry generated $8 billion in 2021, and is estimated to reach $61.9 billion by 2031 by 2031, witnessing a CAGR of 23.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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The report lendtech market analysis includes the profiles of key players operating in the lendtech market such as Visa, Inc., American Express, Fiserv, Inc., Finastra, Nelito Systems Pvt. Ltd., Q2 Software, Inc., Newgen Software Technologies Limited, FIS, Roostify, Inc., and Pegasystems Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the lendtech market.
Lend-Tech is a safe online method of offering loans and other financial services to customers. LendTech loans serves as a digital platform via which banks and other lending organizations can offer loans. Further, they assist students by offering study loans and other forms of financial assistance.
Drivers, Restraints, and Opportunities-
With rapid adoption of technology by all levels of lending service providers, the lendtech is being widely preferred by banks, which is fueling the growth of lendtech market. Besides these, over-indebtedness and heavy reliance on technology & internet access hamper the lendtech market growth. On the contrary, lending industry is introducing a gradual shift toward a digital economy across several countries.
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The large enterprises segment to rule the roost-
By organization size, the large enterprises segment acquired major lendtech market size in 2021. This is attributed to the fact that larger companies frequently have more assets than their smaller counterparts, and they may utilize these assets to get a company loan or line of credit. Also, when a major corporation borrows money, the loan amount is often significant and can be put to a variety of uses, such expanding an existing business or improving infrastructure.
The consumer lending segment to rule the roost-
By type, the consumer lending segment acquired a major lendtech market size in 2021. This is attributed to both the rise in FinTech companies offering online lending services and the introduction of rules by the government to encourage lender transparency. Also, in the approaching years, variables including offering consulting services before obtaining loans and increasing financing alternatives for enterprises are anticipated to present attractive chances for market advancement.
The banks segment to rule the roost-
By end user, the banks segment acquired a major lendtech market size in 2021. This is attributed to the fact that banking institutions provide lendtech which generally involves advice and execution of transactions on behalf of affluent clients. Moreover, banks also help with financial planning, manage client portfolios, and performs a variety of other financial services in relation to a client’s private financing choices with the help of augmented reality technology.
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LendTech Market Report Highlights
Component
- Solution
- Services
Deployment Mode
- On-Premises
- Cloud
Type
- Consumer Lending
- Business Lending
Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises
End User
- Banks
- Credit Unions
- NBFCs
Key benefits for stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lendtech market forecast from 2021 to 2031 to identify the prevailing market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities of lendtech market overview.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the lendtech market segmentation assists in determining the prevailing lendtech market opportunity.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global lendtech market trends, key players, market segments, application areas, and market growth strategies.
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