BANGALORE, India, May 22, 2020 /PRNewswire/ -- The global peer-to-peer (P2P) lending market size was estimated at USD 67.93 Billion in 2019 and is expected to reach USD 558.91 Billion by 2027, rising at a CAGR of 29.7 percent between 2020 and 2027.
Peer-to-peer lending, also abbreviated as P2P lending, is the practice of lending money to individuals or businesses through online platforms that connect lenders with borrowers. The key aim of P2P lending is to boost the lenders' returns and lower the borrowers' interest rate. It also helps to provide quick and convenient loans, since P2P lending is an entirely online platform.
The study focuses on peer-to-peer lending market growth opportunities, constraints, and trends. The study offers Porter's five forces analysis to understand the effect on the peer-to-peer lending market share of various factors such as supplier bargaining power, competitive intensity of competition, the threat of new entrants, threat of substitutes, and buyer bargaining power.
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TRENDS INFLUENCING PEER TO PEER LENDING MARKET SIZE
- Less operating costs and lower market risk to lenders and borrowers are the main factors driving the growth of global peer-to-peer lending market size. Additionally, the adoption of digitization in the banking sector adds transparency over traditional banking systems, which in turn is expected to fuel the market growth.
- A growing student population that prefers loans at a lower interest rate is expected to boost the growth of peer-to-peer lending market size. Additionally, increasing awareness pertaining to clearing personal debt as soon as possible is another reason for increased acceptance of the peer-to-peer lending market.
- The development of the Asia-Pacific market has led to an increase in the number of lenders and borrowers across the country. And an increase in the number of small business lending entities is expected to provide the peer-to-peer lending market with lucrative opportunities.
PEER-TO-PEER LENDING MARKET SHARE ANALYSIS
- During the forecast period, the small business loan segment is expected to hold the largest Peer-to-Peer Lending market share. This is attributed to an increase in the number of small enterprises in developing countries like India and Singapore.
- Furthermore, during the forecast period, the consumer credit loan segment is expected to grow at the highest rate, owing to the rapid adoption of consumer credit loans between individuals and businesses to provide financial flexibility. Thus, providing a lucrative opportunity for the peer-to-peer lending market.
- In terms of region, North America is estimated to hold the largest peer-to-peer lending market share because of the region's growing reliance on the online network.
- The Asia Pacific is expected to be one of the fastest-growing regions. Due to the presence of a massive student population in developing economies such as Japan and India and an increasing number of start-ups and businesses looking for funding for their projects, the Asia-Pacific peer-to-peer lending market is expected to grow at a rapid pace during the forecast period.
PEER TO PEER LENDING MARKET KEY SEGMENTS:
By Business Model
- Alternate Marketplace Lending
- Traditional Lending
- Consumer Lending
- Business Lending
By End User
- Consumer Credit Loans
- Small Business Loans
- Student Loans
- Real Estate Loans
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East
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Key Market Players:
- Avant Inc.
- Funding Circle Limited
- Kabbage Inc.
- Lending Club Corporation
- LendingTree, LLC
- On Deck Capital, Inc.
- Prosper Marketplace Inc.
- Social Finance Inc.
- Zopa Limited
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