Peer-to-peer Lending Market to be Worth US$897.85 Billion by 2024 - TMR

News provided by

Sep 28, 2018, 07:30 ET

ALBANY, New York, September 28, 2018 /PRNewswire/ --

In a recent report by Transparency Market Research (TMR), the global peer-to-peer lending market is anticipated to witness a significant growth with owing to the increasing number if 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, thus boosting the demand for peer-to-peer lending market.

(Logo: https://mma.prnewswire.com/media/664869/Transparency_Market_Research_Logo.jpg )

Student population is increasing by the day. A majority of students seek loan at minimal interest rates and this is usually offered by the traditional money lenders. Low cost of operations is also expected to support the growth of the market as compared to rates offered by conventional money lending institutions.

Get PDF Brochure for Research Insights - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=10835

Some of the leading players of the global peer-to-peer lending market are LendingClub Corporation, Funding Circle Limited, CommonBond Inc., Upstart Network Inc., and Social Finance Inc. The increase in number of small business are likely to offer more scope of growth for the global peer-to-peer lending market in the long run.

As per the TMR report, the global peer-to-peer lending market is estimated to exhibit a CAGR of 48.2% within the forecast period of 2016 to 2024 in order to reach a valuation of US$897.85 bn by 2024 approximately.

Download Report TOC - https://www.transparencymarketresearch.com/report-toc/10835

Technological Advancement and Money Lending Mobile Applications to Boost Market Growth

The continuous process of securing loans has made way for the global peer-to-peer lending market since it has taken care of the pain of looking for various ways of borrowing money. This is an important factor expected to boost the market demand as small businesses are more likely to opt for peer-to-peer option in order to solve their money lending and borrowing issue. Apart from small businesses, peer-to-peer lending service has also attracted all startups, hefty overheads, and entrepreneurs.

Another important factor expected to boost the peer-to-peer lending market revenue is amplified online interfaces and other such simplified modes where a key factor is advancement in technology. The borrowing party can get instant updates regarding the amount of fund that exists in his account, or when he seeks online funding, and also when any lending process is completed. This has made it simpler for end users to opt for the lending process, thus adding to the benefit of the market at a larger scale.

Besides, easy way of borrowing and lending funds through prediction software and other such advanced technologies are also anticipated to boost the market. Prediction software estimates the borrower's economic capability to replay back the amount of loan based on various factors like annual income and others.

Request a Sample of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=10835

End Users Turning Towards Banks for Loans to Hinder Market Growth

Although the cheap rates that the lending market offers may attract a lot of end users, there may be a few factors restraining the overall growth of the market. These factors include the risk of borrowers turning away at the time when they have to pay back the money they took on lease. The market may also have to face loss when end users turn towards banks for loans. Banks as well as conventional leaders face huge pressure in order to improve their interest rates on savings. Additionally, loan repayment defaults may increase the risk of investors to get exposed and this is further forecasted to hamper the peer-to-peer lending market in the long run.

However, there can be strong growth opportunities in developing nations of India and China owing to their gigantic population base. Asia Pacific is likely to offer lucrative opportunities regarding rising loan requirement in the years to come.

Browse Research Release - https://www.transparencymarketresearch.com/pressrelease/peer-to-peer-lending-market.htm

The information presented in this review is based on a TMR report, titled, "Peer-to-Peer Lending Market (End User- Student Loans, Small Business, and Consumer Credit; Business Model- Marketing Lending Model, and Traditional P 2 P Model) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024".

Global Peer-To-Peer Lending Market is segmented as follows:

Global P2P Lending Market by End User

Consumer Credit
Small Business
Student Loan
Real Estate

Global P2P Lending Market by Business Model

Traditional P2P Model
Marketplace Lending Model

Global P2P Lending Market by Region

North America
- U.S.
- Rest of North America

Europe
- U.K.
- France
- Germany
- Rest of Europe

Asia Pacific
- China
- Australia
- Rest of Asia Pacific

Rest of the World
- Middle East and Africa
- Latin America

Browse More IT and Telecom Market Research Reports

Popular Research Reports by TMR:

Payroll - HR Solutions and Services Market (Deployment- Cloud, On-premise,Hybrid; Enterprise Size - Small & Medium Enterprises (SME's), Large Enterprises; Solution - Software, Services; Industry Vertical - Banking, Financial Services, Insurance (BFSI), Government, Healthcare, Manufacturing, Retail, Telecom and IT, Transportation and Logistics): https://www.transparencymarketresearch.com/payroll-hr-solutions-services-market.html
Industrial Internet of Things (IIoT) Market (Component - Hardware (Sensors, Connectivity Devices and Others (Data Acquisition Devices, etc.), Software, Services (System Integration, Consulting Services, Support and Maintenance Services); End use- Aviation, Oil and Gas, Transportation, Power Generation & Utility, Manufacturing, Healthcare, Others (Mining, Agriculture etc.)) : https://www.transparencymarketresearch.com/industrial-internet-of-things-iiot-market.html
Industrial Cyber Security Solutions and Services Market (Component - Hardware Solutions, Software Solutions, Services; Security Layer - Network Security, End-point Security, Cloud Security, Application Security; End User Industry - Process Industries, Discrete Industries): https://www.transparencymarketresearch.com/industrial-cyber-security-market.html

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: [email protected]