Press Release

Global Peer to Peer Lending Market to Grow at 48% CAGR till 2024

Growing knowledge of marketplace lending and lower interests to borrowers to drive global peer to peer lending market through 2024

According to TechSci Research report, Global Peer to Peer Lending Market By Business Model, By End User, By Region, Competition, Forecast & Opportunities, 2024, global peer to peer lending market is projected to grow at a CAGR of nearly 48% during 2019-2024, on account of increasing trend of peer to peer lending in the financial lending market. Lending platforms directly allow connecting borrowers with lenders which imparts greater investment transparency. Lendingclub Corporation, Prosper Marketplace, Inc., CommonBond Inc., Upstart Network Inc., Funding Circle Limited, CircleBack Lending, Inc. and Social Finance Inc. are some of the major players operating in global peer to peer lending market. Companies operating in the market are using organic strategies such as mergers and collaborations to boost their market share.   

Peer to peer lending model or alternate marketplace lending refers to the social lending or person to person lending or microloans in a non-traditional way. Peer to peer lending market, globally, can be segmented into traditional P2P model and marketplace lending model, in terms of business model. Marketplace lending model is anticipated to witness significant adoption across the globe, as it offers money at lower interest rates. In terms of end user, the market can be categorized into consumer credit, small business, student loan and real estate. Small business end user segment accounted for one-third of the market share in 2018 and the segment is poised to grow at impressive rate during the forecast period, backed by growing number of small-scale businesses in developing economies such as China and India. Moreover, lower market risks and availability of loans for small debt payoffs are further contributing to the increasing share of small business segment.

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“North America dominated global peer to peer lending market in 2018 and the trend is likely to continue during the forecast period as well, on the back of increasing dependency on online platforms and reduced interest rates in conventional banking.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Peer to Peer Lending Market By Business Model, By End User, By Region, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of global peer to peer lending market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global peer to peer lending market.

About TechSci Research

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