Aug 20, 2021 (MarketersMedia) -- The global peer to peer (P2P) lending market exhibited strong growth during 2015-2020 and expects the market to grow at a CAGR of around 31% during 2021-2026
Sheridan, United States - August 20, 2021 /MarketersMedia/ --
According to the latest report by IMARC Group, titled "Peer to Peer (P2P) Lending Market: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026," the global peer to peer (P2P) lending market exhibited strong growth during 2015-2020 and expects the market to grow at a CAGR of around 31% during 2021-2026
Peer to peer (P2P) lending refers to a marketplace model that enables the process of lending money to businesses or individuals. This is facilitated by the use of online services that connect lenders with borrowers who seek unsecured personal, business or educational loans. This arrangement allows lenders to acquire higher returns on their investments as it does not involve the intervention of financial institutions. The platform that acts as an intermediary and risk mitigator between the two parties ensures prompt lending processes with high returns and paperless transactions with an attempt to not impact the credit scores of any of the involved parties.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Peer to Peer (P2P) Lending Market Trends:
The market is primarily driven by the increasing number of small and medium-sized enterprises (SMEs), particularly in developing economies. These organizations utilize P2P lending services to access easy loans at reasonable interest rates for their crucial financing needs. These services are also widely preferred due to the minimal charges and convenience of repayment options to users. Additionally, P2P lending solutions have eliminated the requirement of physical branches, staffing and maintenance within an office setting, which is creating a positive outlook for the market. Moreover, governments of numerous countries are taking initiatives to support the utilization of P2P lending platforms by providing a specific framework that supports the growth of the industry and strives to avoid the chances of potential risks. The market is further driven by the adoption of blockchain technology in these models. Its utilization aids in making the overall process more transparent and fairer for both the lenders and borrowers. Furthermore, numerous individuals are now utilizing P2P arrangement for paying for their treatment expenses across the healthcare sector, especially due to the sudden outbreak of the coronavirus disease (COVID-19).
Request Free Sample Report: https://www.imarcgroup.com/peer-to-peer-lending-market/requestsample
Global Peer to Peer (P2P) Lending Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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. and Zopa Limited.The report has segmented the market on the basis on region, type, technology and application.
The report has segmented the market on the basis on region, loan type, business model and end-user.
Breakup by Loan Type:
Breakup by Business Model:
Breakup by End User:
Breakup by Region:
Middle East and Africa