IMARC Group, a leading market research company, has recently releases report titled “Peer to Peer (P2P) Lending Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global peer-to-peer (P2P) lending market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the peer-to-peer (P2P) lending market?
The global peer-to-peer (P2P) lending market size reached US$ 147.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 626.5 Billion by 2028, exhibiting a growth rate (CAGR) of 26.1% during 2023-2028.
What is peer-to-peer (P2P) lending?
Peer-to-peer (P2P) lending is a financial practice that has gained significant prominence in recent years. This innovative lending model allows individuals and businesses to directly borrow and lend money to one another without the involvement of traditional financial institutions like banks. In P2P lending, a digital platform serves as the intermediary, connecting borrowers in need of funds with individual investors looking to earn interest on their capital. This lending approach is characterized by its simplicity, accessibility, and the potential for both borrowers and lenders to benefit from favorable terms.
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What are the growth prospects and trends in the peer-to-peer (P2P) lending industry?
The peer-to-peer (P2P) lending market has witnessed substantial growth driven by the demand for alternative financing options, particularly among small and medium-sized enterprises (SMEs) and individuals who may face challenges obtaining loans through conventional banking channels. P2P lending addresses this gap by providing a convenient avenue for borrowers to access the funds they require swiftly. As a result, the market has experienced a surge in borrowers seeking affordable loans for various purposes, such as debt consolidation, business expansion, or personal expenses. Another driving force behind the market’s growth is the low interest rate environment prevailing in many regions. Traditional savings accounts and investments often yield minimal returns in such conditions, prompting individuals to explore alternative ways to grow their money. P2P lending offers investors the opportunity to earn competitive returns by lending their capital to a diverse range of borrowers.
This attractive proposition has led to a growing number of investors participating in P2P lending platforms, thereby increasing the available funds for borrowers and driving market expansion. Additionally, the rise of digitalization and online platforms has played a pivotal role in shaping the P2P lending landscape. These platforms have made it easier for borrowers to apply for loans and for investors to diversify their portfolios across various loan types and risk profiles. The user-friendly interfaces of P2P lending platforms facilitate seamless transactions and transparent processes, instilling confidence in both borrowers and lenders. Moreover, the emergence of credit scoring algorithms and data analytics has further enhanced the P2P lending market’s appeal. These technologies allow for more accurate risk assessment, enabling lenders to make informed lending decisions. Borrowers with limited credit history or less-than-perfect credit scores may find P2P lending platforms more accommodating, as these platforms consider a broader range of factors beyond traditional credit reports. This inclusivity has widened the pool of potential borrowers, contributing to the market’s growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Loan Type:
- Consumer Lending
- Business Lending
Breakup by Business Model:
- Marketplace Lending
- Traditional Lending
Breakup by End User:
- Consumer (Individual/Households)
- Small Businesses
- Large Businesses
- Real Estate
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Avant Inc.
- Commonbond Inc.
- Funding Circle Ltd.
- LendingClub Corporation
- Lendingtree Inc. (InterActiveCorp and Tree.com Inc.)
- On Deck Capital Inc.
- Prosper Marketplace Inc.
- Retail Money Market Ltd.
- Social Finance Inc.
- Upstart Network Inc.
- Zopa Limited
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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