Digital Lending Platform Market: Latest COVID-19 Impact Analysis | Market Insights, Top Impacting Factors and Growth Opportunities | Challenges and Forecast 2020 – 2027

A lead analyst at AMR highlighted the market across North America region is expected to dominate in terms of revenue throughout the forecast period.

Allied Market Research published a research report on the digital lending platform market. The findings of the report exhibits that the global market for digital lending platform system generated $5.58 billion in 2019, and is expected to garner $20.31 billion by 2027, registering a CAGR of 16.7% from 2020 to 2027. The report provides valuable information on changing market dynamics, key segments, top investment pockets, and competitive scenario for market players, new entrants, investors, and shareholders.

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“Cloud segment is expected to experience significant growth in the coming years, owing to rise in adoption of cloud enabled digital lending platform software among various banks and insurance companies to increase their revenue opportunity and to enhance their business across the globe”, said Pramod Borasi, the research Analyst of BFSI at Allied Market Research.

The report provides detailed information based on the drivers, restrains, and opportunities of the market to assist the market players in devising growth strategies and capitalizing on opportunities. Increase in focus of organizations on digitalizing their financial services, shift from traditional lending to digital lending, and rise in government initiatives toward adoption of digital lending platform fuel the growth of the global digital lending platform market. On the other hand, rise in security & compliance issues restraints the market growth. Moreover, technological innovations and increase in demand for cloud-based integrated products present lucrative opportunities for the market players.

The report provides a detailed scenario of impact of the COVID-19 pandemic on the digital lending platform system market globally. It helps the market players, new entrants, and investors to determine strategies according to the current scenario and improvise the business structure for the future purposes. During the COVID-19 pandemic, the market has witnessed increased demand for digital lending platforms in order to automate the loan process as it involves low or no contact processes and eradicates the possibility of cross-contamination.

In addition, many banks and financial institutions that were not offering digital lending platforms have started the development of such platforms to recover from the loss suffered due to shut down of offices and banks during the pandemic. Nevertheless, during the post-lockdown period, a lot of people and small businesses would need personalized loan products as they endeavor to recover from the impacts of the COVID-19 pandemic. The demand for faster, efficient, cost-effective, and less or no-contact lending processes, therefore, is expected to grow.

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The report offers detailed segmentation of the global digital lending platform system market on the basis of component, deployment model, type, industry vertical, and region. These insights are valuable for the new entrants and existing market players to capitalize on the fastest growing and highest revenue generating segment to accomplish growth in the coming years.

Based on component, the software segment dominated the market with highest revenue share in 2019, holding for nearly three-fourths of the global market. On the other hand, the service segment is anticipated to portray the fastest CAGR of 19.7% throughout the forecast period.

Based on deployment model, the on-premise segment held the highest market share in 2019, holding for nearly third-fifths of the global market. However, the cloud segment is expected to manifest the fastest CAGR of 18.1% throughout the forecast period.

Based on region, the market is studied across regions including Asia-Pacific, North America, Europe, and LAMEA. The market across North America held lion’s share in 2019 with more than one-third of the total market share. Conversely, the region across Asia-Pacific is expected to register the fastest CAGR of 18.0% throughout the forecast period.

Leading market players of the global digital lending platform system market analyzed in the report include FIS Global, Nucleus Software, Finastra, Ellie MAE, Fiserv, Intellect Design Arena, Temenos, Tavant Technologies, Wipro, and Black knight.

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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.