Global Peer-to-Peer Lending Market to Exhibit 48.2% CAGR from 2016 to 2024: report

"Peer-to-Peer lending market driven by growing advancements in technology that is encouraging potential consumers and existing players to make quick decisions."

The global market for peer to peer lending has been analyzed in a detailed market research report recently added to the portfolio of MarketResearchReports.biz. The report is titled “Peer-to-Peer Lending Market (End User - Consumer Credit, Small Business, Student Loans and Real Estate; Business Model -Traditional P2P Model and Marketplace Lending Model) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.”

The report states that the market will exhibit an exceptional CAGR of 48.2% from 2016 to 2024, rising from a valuation of US$26.16 bn in 2015 to US$897.85 bn by the end of 2024.

The report states that a number of factors will collectively contribute to the exceptional growth prospects of the market over the said period. The latest advances in technology have been crucial in aiding this tremendous growth of the global peer-to-peer lending market. These advancements have enabled peer-to-peer lending platforms to acquaint businesses and individuals directly with investors. These lending platforms enable instant approvals of loans at reasonable interest rates, which is subsequently boosting their popularity among individual borrowers and small businesses. These factors have been playing a crucial role in bolstering demand from the global peer-to-peer lending market.

From a geographical standpoint, North America dominated the global market in 2015, accounting for a massive 43.8%. The peer-to-peer lending market in this region is predominantly led by the U.S., which has been exhibiting robust growth since the past few years. With banking norms tightening post financial crisis, borrowers in the U.S. have become more inclined towards unconventional lending sources, which has been a prime driver of the peer-to-peer lending market. Other factors such as the convenience offered by online platforms, declining consumer loyalty toward financial institutions, and favorable regulatory environments are also boosting the North America peer-to-peer lending market.

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The peer-to-peer lending market is also witnessing lucrative opportunities in the U.K. owing to favorable government support. The nation has a suitable framework that supports the growth of peer-to-peer lenders and also protects them against any potential risk. Besides this, the exponential surge of start-ups in Asia Pacific has spurred growth opportunities for the peer-to-peer lending market in the region. Australia, Japan, and China are at the fore of promoting peer-to-peer lending in Asia Pacific.

Based on end users, the report segments the market into marketplace lending model and traditional P2P model. Of these, the marketplace lending model segment led the market in 2015 with a dominant share of 74%. The report has further pegged the segment to surge at an exponential CAGR of 50% during the forecast period.

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The report also presents a holistic overview of the prevailing competitive landscape of the global peer to peer lending market. For this, the report has included details such as recent developments, company shares, growth opportunities, and product and service portfolios. Detailed business profiles of leading companies operating in the global peer to peer lending market are also examined in the report. Leading companies in the market profiled in the report include Prosper Marketplace, Inc., Funding Circle Limited, Upstart Network Inc., Pave, Inc., Daric Inc., and others. These companies are mainly focusing on expanding their product portfolio to gain the lion’s share of the market.

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This release was published on openPR.