Scope of the Study
P2P lending is referred to peer-to-peer lending, is the process of giving money or lending money for a particular instance to businesses or individuals through online services. Prosper, SoFi, Funding Circle, Peerform, and Upstart is the popular website for P2P lending. The P2P lending services are more transparent and cheaper as compared to the traditional process. Growing demand from developing economies due to low market risk & operating cost and high transparency between lender and borrower in P2P lending system due to technical advancement is the major driver for the market. Additionally, the rising trend in investing and digital technologies and rising awareness of P2P lending across the globe is supplementing overall growth of the market. However, strict government regulation & risk of losing all money and lack of awareness regarding benefits associated with P2P lending is limiting the growth of the market. Moreover, burgeon number of startups globally may increase the usage of peer to peer lending platforms.
The market study is being classified and major geographies with country level break-up. According to AMA, the Global P2P Lending market is expected to see growth rate of 55.23% and may see market size of USD1113.05 Billion by 2024.
LendingClub Corporation (United States), Funding Circle Limited (United Kingdom), Prosper Marketplace, Inc. (United States), Daric (United States), Social Finance, Inc. (United States), Zopa Limited (United Kingdom), Avant, Inc. (United States), onDeck Capital, Inc. (United States), RateSetter (United Kingdom) and Kabbage, Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are LendUp (United States) and Peerform (United States).
The Players having a strong hold in the market are LendingClub Corporation, Funding Circle Limited, Prosper Marketplace, Inc., Daric, Social Finance, Inc.. Research Analyst at AMA predicts that United States and United Kingdom Players will contribute to the maximum growth of Global P2P Lending market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global P2P Lending market by Type, Application and Region.
On the basis of geography, the market of P2P Lending has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Interest Rate, the sub-segment i.e. 4.99 percent will boost the P2P Lending market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Business Model , the sub-segment i.e. Alternate Marketplace Lending will boost the P2P Lending market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Loan Type, the sub-segment i.e. Personal Loans will boost the P2P Lending market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Lenders will boost the P2P Lending market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Demand from Developing Economies due to Low Market Risk and Operating Cost
- High Transparency between Lender and Borrower in P2P Lending System due to technical advancement
- Millennials have been attracted towards P2P Lending Services due to rising Trend in Investing and Digital Technologies
- Strict Government Regulation and Risk of Losing All Money
- Rising Awareness of P2P lending across the Globe
- Burgeon Number of Startups Globally may Increase the Usage of Peer to Peer Lending Platforms
- Lack of Awareness regarding Benefits Associated with P2P Lending
On September 2015, Prosper Marketplace had acquired BillGuard in approximately USD 30 million. Whereas, BillGuard was a startup in the crowdsourced security app for personal finance.
“In the UK, the planned initial public offering (IPO) of Funding Circle on the London Stock Exchange has been met with both optimism – for enabling the sector to gain wider recognition and validation – and also criticism – because of its infancy and often misunderstood risks.” and “UK’s Financial Conduct Authority took responsibility for oversight of loan-based crowdfunding platform in 2014, limiting the ability of ordinary investors to plough more than 10% of their net investable assets into crowdfunding campaigns.”
Key Target Audience
P2P Lending Service Providers, Banking and Finical Sector, Government Agencies, Investors and Others
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