Tokyo, Japan -- (SBWIRE) -- 01/25/2019 -- Peer-to-peer lending, also abbreviated as P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers. There is the risk of the borrower defaulting on the loans taken out from peer-lending websites.
According to expert analysts, the global peer-to-peer lending market was worth US$26.16 bn in 2019. This revenue is further expected to grow up to US$897.85 bn by the end of 2026. This growth is predicted to occur at meteoric and phenomenal CAGR of +50% during the forecast period from 2019 to 2026.
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Key Players:
LendingClub Corporation
Funding Circle Limited
Prosper Marketplace, Inc.
Daric
Social Finance, Inc.
Zopa Limited
Avant, Inc.
onDeck Capital, Inc.
RateSetter
Kabbage, Inc.
global peer-to-peer lending market is anticipated to witness a significant growth with owing to the increasing number of borrowers who seek funds for various personal purposes. Advancement in technology is allowing users to have an easy access to various interfaces offering quick updating, so boosting the demand for peer-to-peer lending market
By end-user types, the market is segmented into consumer loans, small business loans, student loans, real estate loans. On the basis of the business model, the market is categorized into alternate marketplace lending, and traditional lending. Geographically, the market is further analyzed across, North America (US, Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
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The global market for peer-to-peer loans is widely spread geographically in North America, South America, Europe, Asia Pacific, the Middle East and Africa. In 2015, North America had held a dominant position that represented more than 43% of the total market shares. The reduction of interest rates in conventional banking, the growing dependence on online platforms and the effects after the last financial crisis are causing the market to grow rapidly in North America. However, this market is also developing rapidly in the emerging economies, mainly present in Asia Pacific and South America. Some of these emerging economies are: India, China, Japan, Australia and Brazil, among several others. With numerous companies looking for financial alternatives to finance their projects, the global peer-to-peer loan market is expected to expand widely
Major Factors Report:
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