Peer-to-Peer Lending Market Growth Accelerated by Increasing Digitization in Banking Industry || Avant LLC., Funding Circle, Kabbage Inc, Lending Club Corporation

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Peer-to-Peer (P2P) Lending Global Market Report 2023 the increasing digitization in the banking industry is the major driver for the peer-to-peer lending market's growth in the forecast period. Digital innovation in the banking industry is transforming financial services such as mobile money, peer-to-peer (P2P), or marketplace lending. For instance, in January 2022, according to a report shared by European Banking Supervision, a regulatory body established to maintain financial stability throughout the European Union's (EU) banking industry, the number of digital users has climbed by 23% since the beginning of the pandemic. Therefore, the increasing digitization in the banking industry is driving the growth of the peer-to-peer lending market.

The global peer-to-peer (P2P) lending market size grew from $107.84 billion in 2022 to $143.64 billion in 2023 at a compound annual growth rate (CAGR) of 33.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The peer-to-peer (P2P) lending market size is expected to grow to $419.7 billion in 2027 at a CAGR of 30.7%.

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Major competitors in the peer-to-peer (P2P) Lending market are Avant LLC., Funding Circle, Kabbage Inc., Lending Club Corporation, LendingTree LLC, OnDeck, Prosper Funding LLC, CircleBack Lending Inc., Social Finance Inc.

A key trend in the peer-to-peer (P2P) Lending market includes emergence of decentralized P2P mobile browsers. Major companies operating in the peer-to-peer (P2P) lending market are adopting decentralized P2P mobile browsers to increase their market share. For instance, in March 2022, eQualitie, a Canadian digital security organization, launched CENO, the world's first decentralized P2P mobile browser, built particularly to avoid the censoring techniques used today. It also permits access in areas where connectivity has been disrupted.

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The Peer-to-Peer (P2P) Lending market is segmented -

• By Loan Type: Consumer Credit Loans, Small Business Loans, Student Loans, Real Estate Loans

• By Business Model: Traditional Lending, Alternate Marketplace Lending

• By End User: Business, Personal

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the peer-to-peer (P2P) lending market.

The Business Research Company's "Global Peer-to-Peer (P2P) Lending Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Peer-to-Peer (P2P) Lending Market Include:
1. Executive Summary
2. Peer-to-Peer (P2P) Lending Market Characteristics
3. Peer-to-Peer (P2P) Lending Market Trends And Strategies
4. Peer-to-Peer (P2P) Lending Market - Macro Economic Scenario
5. Peer-to-Peer (P2P) Lending Market Size And Growth
……………
27. Peer-to-Peer (P2P) Lending Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Peer-to-Peer (P2P) Lending Market
29. Peer-to-Peer (P2P) Lending Market Future Outlook And Potential Analysis
30. Appendix

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