Stakeholders in peer-to-peer lending market aim at connecting large number of investors with wider population of borrowers for meeting the latter’s loan requirements; oversight by the governments and BFSI industry catalyze revenue opportunities
Albany NY, United States, May 04, 2022 (GLOBE NEWSWIRE) — Investment opportunities in the peer-to-peer (P2P) lending platforms are prospering on the back of ever-growing requirements of personal loans and credits that are not easily met by mainstream financial institutions. Rising acceptance of P2P business models by the governments and regulatory agencies, coupled with constant drive for product innovations, is catalyzing customer experiences, thus expanding the avenues of the peer-to-peer lending market. The global valuation is projected to surpass US$ 1.3 Bn by 2031.
The BFSI sector has been reinforcing the advantages of an integrated provision model under peer-to-peer lending notably cost-efficiency, reliability, and larger reach of P2P platforms. Lenders have greatly benefitted from the use of predictive analysis tools used for assessing credit repayment abilities particularly those of students and families in order to reduce risks of loan defaults. Such product features are bolstering the peer-to-peer lending market prospects, observed the authors of an in-depth TMR study.
Growing awareness of these customer propositions are making P2P lending platforms more popular among borrowers and investors, thereby earning their trust. Developed nations especially have been at the forefront of early adopters of P2P lending framework, and have generated vast room for growth of industry players in the peer-to-peer lending market.
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Key Findings of Peer-to-Peer Lending Market Study
- Lenders Leveraging P2P Lending Platforms to Diversify Investments and Capture High Returns: The popularity of modern lending platforms will be further enriched by the incorporation of novel technologies to secure transactions such as the use of blockchain, assert the analysts in the TMR study on the peer-to-peer lending market. Consumer lending companies are using AI to assess creditworthiness. Rise in demand for personal loans have spurred the popularity of P2P lending platforms among investors to earn higher profit from loans and funding. The growing demand for direct lending to small and medium scale businesses especially in emerging economies is fueling numerous customer propositions in the peer-to-peer lending market.
- Wide Range of Loans Requirements for Communities and SMEs Spurring Demand: Both institutional and individual buyers, including small businesses have become aware of the benefits of using the web-based P2P lending platforms for meeting their wide range of credit needs. The growing trend of equity financing and crowd financing among enterprises is enriching the value chain of companies in the peer-to-peer lending market. The growing number of credit-card repayment platforms will boost the revenue generating potential for players in the market, observed the TMR analysts.
- Advances in Platforms to Pave Way to New Business Models: The peer-to-peer lending market is replete with opportunities, with Fintech companies constantly leaning on bringing new features to the platform-based business models. Advancements are expected to reduce the incidence of fraud and theft activities in P2P lending
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Peer-to-Peer Lending Market: Key Drivers
- Modernization of digital technologies in the BFSI sector has helped bring a large number of borrowers and lenders worldwide under peer-to-peer lending framework. The trend will keep driving the evolution of the peer-to-peer lending market.
- Innovation in P2P platforms toward customization will enable peer-to-peer lending platforms to become effective alternative to traditional financial intermediaries for loans. Ever-growing demand for crowdfunding is enriching the scope of revenue in the peer-to-peer lending market.
Peer-to-Peer Lending Market: Regional Growth Dynamics
- The valuation of the North America peer-to-peer lending market is estimated to be account for a major share globally. Rise in adoption of P2P lending platforms by the BFSI sector in the U.S. and Canada, pivoting on the back of government support, has propelled substantial revenues.
- Opportunities in Asia Pacific are projected to expand at promising pace during the forecast of 2021–2031. Rise in adoption of P2P lending for educational loans and to support small businesses in the region is propelling the expansion of lucrative opportunities.
- Europe is a potentially lucrative market, and its growth is catalyzed by rising demand for various types of loans particularly property loans by borrowers.
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Peer-to-Peer Lending Market: Key Players
Some of the key players in the peer-to-peer lending market are Upstart Network Inc., Prosper Marketplace, Inc., Peerform, LendingPad Corporation, Funding Circle Limited, CircleBack Lending, Inc., and Avant Inc.
Global Peer-to-Peer Lending Market: Segmentation
Peer-to-Peer Lending Market, by Type
- Personal Loan
- Business Loan
Peer-to-Peer Lending Market, by End-user
- Consumer Credit
- Small Business
- Student Loans
- Real Estate
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Peer-to-Peer Lending Market, by Business Model
- Traditional P2P Model
- Marketplace Lending Model
Peer-to-Peer Lending Market, by Region
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa (MEA)
- South America
- Rest of South America
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