New York, NY -- (SBWire) -- 01/18/2021 --The Peer to Peer (P2P) Lending Market is expected to rise from USD 54.64 billion in 2019 to USD 718.20 billion by 2027, with a CAGR of 26.6% in the forecast duration. The main driving force for the industry is low market risk and affordable operating costs.
The Peer to Peer (P2P) Lending Market is projected to exhibit substantial growth due to the rise in online application implementation and rising demand for conventional banking systems technology.
Peer to Peer (P2P) lending is a debt funding mechanism that enables various people to use an online platform to borrow and lend money. In contrast to conventional prime loans, the rate of interest paid on P2P loans is lower. Investors only obtain a portion of the loan and spread the loan balance over several customers.
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Further key findings from the report suggest
· The Peer to Peer (P2P) Lending market is expected to rise from USD 54.64 billion in 2019 to USD 718.20 billion by 2027, with a CAGR of 26.6% in the forecast duration. The main driving force for the industry is low market risk and affordable operating costs.
· The industry is segmented as alternate marketplace lending and traditional lending based on business. On a large-scale basis, the traditional P2P model is growing, particularly in developing regions. Due to the lower availability of modern technology in developing regions, the P2P model is being embraced by many businesses. The alternate marketplace lending model, however, is increasingly expanding all over the globe and over the next few years, it is expected to replace the traditional model.
· The market is segmented as small business loans, consumer credit loans, real estate loans, student loans, on the basis of user. A majority of students are seeking loans at minimum interest rates and this is typically provided by conventional money lenders, which in turn increases the demand growth by 27.3%. The population of students is rising by the day. In order to offer credit facilities to a wide variety of small businesses easily and efficiently, alternative small business lending networks use digital resources and machines, mainly for those that have been rejected by banks. Small businesses, therefore, serve as a big consumer in the market for Peer to Peer Lending.
· Five regions, namely North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America, are the major regional segments of the P2P lending industry. With the highest share of 40%, APAC is projected to dominate the market.
· Some of the major key players in the market are Daric Inc. (U.S.), Upstart Network Inc. (U.S.), Prosper Marketplace, Inc.(U.S.), Common Bond Inc (U.S.), Avant, Inc. (U.S.), Funding Circle Limited (U.K.), CircleBack Lending, Inc. (U.S.), Peer form (U.S.), Social Finance Inc. (U.S.), and Pave, Inc. (U.S.).
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For the purpose of this report, the market has been segmented on the basis of business, user, and region:
Business Outlook (Revenue, USD Million; 2017-2027)
· Alternate marketplace lending
· Traditional lending
User Outlook (Revenue, USD Million; 2017-2027)
· Small business loans
· Consumer credit loans
· Real estate loans
· Student loans
Regional Outlook (Revenue, USD Million; 2017-2027)
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa
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Table Of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2016 – 2026
Chapter 3. Macro Indicators
3.1. Global need for the use of advanced banking systems
3.2. Advancement in technology with the traditional banking system
Chapter 4. Peer to Peer (P2P) Lending Market Segmentation & Impact Analysis
4.1. Peer to Peer (P2P) Lending Market Segmentation Analysis
4.2. Industrial Outlook
4.3. Regulatory Framework
4.4. Peer to Peer (P2P) Lending Market Impact Analysis
4.4.1. Market driver analysis
4.4.1.1. Low market risk and affordable operating cost
4.4.1.2. Advancement in technology with the traditional banking system
4.4.2. Market restraint analysis
4.4.2.1. Security issues for losing money
4.4.2.2. Inadequate knowledge about the Peer to Peer (P2P) lending among individuals
4.4.3. Key opportunities prioritized
4.4.3.1. Emergence of peer to peer (Peer to Peer (P2P)) lending platforms globally
Continue…
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Peer to Peer (P2P) Lending Market Size Worth USD 718.20 Billion by 2027 with CAGR of 26.6% : Reports and Data
The Peer to Peer (P2P) Lending market will be driven by the low market risk and affordable operating cost. Peer to Peer (P2P) Lending Market Size – USD 54.64 billion in 2019, Growth - CAGR of 26.6% Trends –Penetration of advance technology along with the traditional banking system.