Peer to Peer (P2P) Lending Market to Reach $558.9 Billion by 2027: At 29.7% CAGR

Technological advancements in traditional banking system to improve transparency drive the growth of the global peer to peer (P2P) lending market. North America contributed the highest share in 2019, and will maintain its dominance throughout the forecast period. The revenue generated from business lending for peer to peer (p2p) lending market will be reduced for few months of coronavirus pandemic, however, will rebound quickly.

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Portland, May 11, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global peer to peer (P2P) lending market generated $67.9 billion in 2019, and is estimated to reach $558.9 billion by 2027, registering a CAGR of 29.7% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.

Technological advancements in traditional banking system to improve transparency and low operating cost and risk drive the growth of the global peer to peer (P2P) lending market. However, low awareness about the P2P lending benefits and strict government regulations hinder the market growth. On the other hand, rise of small businesses and growth in the Chinese market create new opportunities in the coming years.

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Covid-19 scenario:

  • Depositors transferring their deposits to traditional and major banks to ensure security during the economic turbulence, according to the Federal Reserve.
  • Most of the investors have declared liquidity issues, therefore a number of P2P platforms were shut down in the last few months.
  • Economic crisis occurring due to lockdown across the world increases the demand for online loans in developing countries, such as Indonesia.
  • During coronavirus pandemic, the risk of non-performing loans has been increased.

The report offers a detailed segmentation of the global peer to peer leading market based on service business model, type, end user, and region.

Based on business model, the traditional lending segment contributed to the largest share in 2019, accounting for nearly four-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the alternate marketplace lending segment is expected to register the highest CAGR of 31.8% from 2020 to 2027.

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Based on type, the business lending segment accounted for the largest share in 2019, holding nearly two-thirds of the total share, and is expected to maintain the largest share throughout the forecast period. However, the consumer lending segment is estimated to portray the highest CAGR of 30.6% during the forecast period.

Based on region, North America contributed the highest share, accounting for more than two-thirds of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 40.4% from 2020 to 2027.

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Leading market players analyzed in the research include Avant, LLC., Kabbage Inc., LendingTree, LLC., Prosper Funding LLC., Social Finance, Inc., Funding Circle, Lending Club Corporation, OnDeck, RateSetter, and Zopa Bank Limited.

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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 to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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.


        

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