With 26.1% CAGR, Peer to Peer (P2P) Lending Market to Hit USD 626.5 Billion by 2028 | IMARC Group

IMARC Group, a leading market research company, has recently releases report titled "Peer to Peer (P2P) Lending Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The study provides a detailed analysis of the industry, including the global peer to peer (P2P) lending market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the peer-to-peer (P2P) lending?

The global peer to peer (P2P) lending market size reached US$ 147.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 626.5 Billion by 2028, exhibiting a growth rate (CAGR) of 26.1% during 2023-2028.

What is peer to peer (P2P) lending?

Peer-to-peer (P2P) lending, or marketplace lending, is a financial platform connecting individuals or businesses seeking loans with potential lenders. It is a form of debt financing that eliminates traditional intermediaries, such as banks or financial institutions, by directly connecting borrowers and lenders through online platforms. In P2P lending, borrowers create loan listings stating the amount they need, the purpose of the loan, and other relevant detail, which is reviewed by potential lenders who choose to fund the loans that align with their investment criteria. The lending platform facilitates loan transactions, including origination, repayment, and collection. It also uses technology and data analytics to assess creditworthiness, determine interest rates, and manage risk, which often employs credit scoring models and verification processes to evaluate borrower eligibility and assign appropriate interest rates. Additionally, P2P lending platforms provide transparency by disclosing loan details, borrower information, and repayment terms to lenders. As a result, P2P is gaining immense traction across the globe.

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What are the growth prospects and trends in the peer to peer (P2P) lending industry?

The market is primarily driven by the significant expansion of small and medium-sized enterprises (SMEs). In addition, P2P lending platforms provide an alternative source of financing for individuals and businesses to access funds quickly and conveniently, often with less stringent requirements and paperwork which contributes to market growth. Moreover, several technological advancements in P2P lending platforms to streamline loan origination, credit assessment, and loan servicing processes and enhance operational efficiency, reduce costs, and improve the user experience for borrowers and lenders, represent another major growth-inducing factor. Along with this, the extensive use of smart contracts on blockchain technology has improved the reliability and transparency of borrowing and lending processes, thus fueling market growth. Besides this, the growing consumer preference for online loans to avoid cumbersome documentation and lengthy procedures is also driving market growth. Apart from this, the rising demand for P2P lending, which offers investors the opportunity to diversify their investment portfolios by allocating funds across a range of loans with varying risk profiles that help mitigate the risk and potentially enhance investment returns, is propelling the market growth.

Furthermore, the rapid digitization of the banking, financial services, and insurance (BFSI) sector, the rising real estate lending, and the increasing number of students studying abroad created an escalating demand for educational loans, thus influencing the market growth. Other factors including the growing demand for alternative financing options that offer low fees and convenient repayment choices and the emergence of green financing to connect borrowers seeking funds for sustainable projects, such as renewable energy installations, energy-efficient upgrades, or eco-friendly businesses, with environment-conscious lenders is also creating a positive market outlook.

What is included in market segmentation?

The report has segmented the market into the following categories:

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 (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

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Who are the key players operating in the industry?

The report covers the major market players including:

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.
Zopa Limited.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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