Peer to Peer (P2P) Lending Market 2022-27 | Industry Size, Share, Trends, Growth and Forecast
According to the latest report by IMARC Group, titled “Peer to Peer (P2P) Lending Market: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027,”The global peer to peer (P2P) lending market reached a value of US$ 112.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 525.3 Billion by 2027, exhibiting a CAGR of 28.1% during 2022-2027.
Report Metric
Historical: 2016-2021
Base Year: 2022
Forecast Year: 2022-2027
Peer-to-peer (P2P) lending refers to a method of online monetary arrangement between individuals and businesses without involving banks or financial institutions. It is an easily accessible source of funding that facilitates individuals to borrow loans at low-interest rates and flexible terms. It aids in availing quick and convenient loans with minimal documentation and zero impact on credit scores.As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Peer to Peer (P2P) Lending Market Trends:
P2P lending platforms eliminate the establishment cost of physical branches, maintenance, and staffing, which provides low financial risk for both lenders and borrowers. This, in confluence with the increasing number of small and medium-sized enterprises (SMEs), is one of the key factors stimulating market growth. Furthermore, technological advancements, such as the emergence of smart contracts and blockchain,which provide reliable and transparent borrowing and lending services, are positively influencing the market. Moreover, increasing preferencesfor loans online to avoid lengthy lending processes is propellingthe market growth.
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Global Peer to Peer (P2P) Lending Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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. and Zopa Limited.The report has segmented the market on the basis on region, type, technology and application.
The report has segmented the market on the basis on region, loan type, business model and end-user.
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
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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