The global crowdlending (business) market size is estimated to reach USD 545.82 billion by 2028 and is expected to expand at a CAGR of 5.5% from 2021 to 2028, according to a new report by Million Insights. Quick approval of loans to the SMEs and Freelancers as compared to banks is the key driver of growth of the market. In addition, the minimum interest rate on loans for borrowers is also driving the crowdlending market. However, lack of borrower protection is the major restraint for the growth. Most key players operating in the market are adopting different strategies such as the launch of new pay rate products and mergers and acquisitions to capture maximum market share globally.
The COVID-19 pandemic has positively impacted the growth of the market. After the COVID-19 pandemic, most of the customers moved toward online platforms which give multiple opportunities for bank-independent loans and online marketplaces that offer private loans. Thus, the COVID-19 pandemic has played an important role in pushing the development of the crowdlending business.
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The alternative financing segment contributed to the global revenue share of more than 65% in 2020. SMEs and freelancers are turning to alternative financing platforms at a rapid pace than in the past, as the banks’ lending to them have increased lower than anticipated given today’s favorable credit conditions and business environment. Thus, the demand for alternative financing is high and contributes more to the market revenue.
Asia Pacific accounted for the largest market share of more than 80% in 2020. In 2020, China was the major country for the growth of the market. In 2006, Credit Ease was the first company to introduce the concept of crowdlending in China. In addition, several factors such as developments in financial technology, well internet bandwidth, and least regulations have given rise to crowdlending platforms in this region. Thus, Asia Pacific contributes more to the market revenue.
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Crowdlending (Business) Market Report Highlights
• Asia Pacific accounted for the largest revenue share of more than 80% in 2020. Factors such as developments in financial technology, well internet bandwidth, and least regulations have given rise to crowdlending platforms in this region
• The small business loans segment is expected to register the highest CAGR of 5.8% from 2021 to 2028. The demand for SMEs for loans is increasing rapidly in the last couple of years. The loans issued by single or multiple private and institutional investors are helping SMEs to establish their business and complete their financial needs in a short time
Crowdlending (Business) Market Segmentation
Million Insights has segmented the global crowdlending (business) market based on type and region:
Crowdlending (Business) Type Outlook (Revenue, USD Billion, 2017 – 2028)
- Alternative Financing
- Small Business Loans
Crowdlending (Business) Regional Outlook (Revenue, USD Billion, 2017 – 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
List of Key Players of the Crowdlending (Business) Market
- Kickstarter, PBC
- Indiegogo, Inc.
- GoFundMe, Inc.
- Teespring, Inc.
- CircleUp Network Inc.
- Gust, Inc.
- Crowdfunder Ltd
- Mightycause Corporation
- OurCrowd Management Limited
- SeedInvest Technology, LLC
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