Peer-to-Peer Lending Market to Surpass Valuation of US$ 1.3 Trn by 2031

Transparency Market Research delivers key insights on the global peer-to-peer lending market. In terms of revenue, the global peer-to-peer lending market is estimated to expand at a CAGR of 28.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global peer-to-peer lending market.

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Peer-to-peer lending is a form of lending money to an individual or business without the interference of a bank or a financial institution. The peer-to-peer (P2P) lending platform is an online money lending platform generally used to lend money to potential borrowers and offers secured and unsecured loans. Credit scores and social media activity are used by P2P platforms to connect borrowers and lenders at low interest rates. The peer-to-peer lending platform acts as a mediator between the borrower, lender, and partner bank; the platform is subject to fewer regulatory restrictions, allowing them to keep fees and rates low.

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The growing integration of smart payment gateways with different financial institutions is a major factor that drives the growth of the peer-to-peer lending market.

Peer-to-Peer Lending Market: Dynamics

The growing number of students who require educational loans is a key factor expected to propel the growth of the peer-to-peer lending market during the forecast period. Peer-to-peer lending platforms charge lower fees with simple application processes to students who apply for educational loans, leading to a rise in demand for these platforms. Lower operating costs and lower market risk for lenders and borrowers are key drivers of the global peer-to-peer (P2P) lending market. However, the market faces challenges due to technical and manual errors in security control of peer-to-peer lending platforms. Lack of data privacy and security due to the risk of disclosure of names of borrowers and lenders on the website of peer-to-peer lending platforms is expected to hamper the growth of the market during the forecast period. Nevertheless, increasing technological developments in the financial sector is expected to boost the adoption of peer-to-peer lending platforms among various end users.

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Peer-to-Peer Lending Market: Prominent Regions

The peer-to-peer lending market in North America is expected to account for largest share during the forecast period due to innovations in P2P lending platforms to reduce manual errors and secure the data of borrowers & lenders from internal & external theft in the U.S. and Canada. This is expected to boost the adoption of peer-to-peer lending platforms in the region during the forecast period. Apart from significant presence of market players in the region, the U.S. Government has increased investment in the finance sector, which is fueling the growth of the peer-to-peer lending market.

The peer-to-peer lending market in Asia Pacific is likely to expand at the highest CAGR during the forecast period due to increasing demand for student educational loans that considerably increases the demand for peer-to-peer lending platforms in the region. The Europe market is projected to rise at notable CAGR during the forecast period, owing to rising demand for property loans that generate huge demand for the adoption of peer-to-peer lending platforms among various end users.

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Peer-to-Peer Lending Market: Key Players

Key players operating in the global peer-to-peer lending market are Avant Inc., CircleBack Lending, Inc., Clear, Daric Inc., Funding Circle Limited, LendingPad Corporation, Kabbage Inc., Peerform, Payoff, Prosper Marketplace, Inc., Social Finance Inc. and Upstart Network Inc.

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