The new report by Expert Market Research titled, ‘Digital Lending Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global digital lending market, assessing the market based on its segments like types and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators and analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 15.5%
The digital lending market is being driven by the increasing investments in the banking sector. The governments are increasingly investing in the development of the financial infrastructure of the country to enhance its operational efficiency. The digital lending facilities are predicted to be aided by the small and medium enterprises across the globe, which are readily implementing banking platforms with secure digital lending facilities. Moreover, the rapid investments by the leading market players in the research and development of digital lending platforms are also aiding the industry. This is expected to drive the market growth in the forecast period. Some of the factors that are expected to boost market expansion in the coming years include easy accessibility, consistency, convenience, and the ability to make quick decisions.
Industry Definition and Major Segments
Digital lending refers to the process of acquiring loans via digital platforms. The entire process, from the application, acquisition to the monitoring and settlement of the loans, is conducted through online channels. Consumers can avail of digital lending services through digital devices, such as smartphones, laptops, and PCs, among others.
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The digital lending market, on the basis of type, can be segmented into:
• Business
o Business Digital Lending Market Dynamics
o Business Digital Lending Ecosystem
• Consumer
o Consumer Digital Lending Market Dynamics
o Consumer Digital Lending Models
o Consumer Digital Lending Ecosystem
The regional markets for digital lending include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The global digital lending industry is being driven by the heightened digitalisation across the globe. This can be attributed to the increased deployment of digital solutions in the banking industry. The increasing consumer preference for digital banking facilities with more secure and safe transaction opportunities is predicted to augment the market growth. Rapid technological advancements are likely to aid the market in the forecast period. Technological advancements, such as utilising advanced artificial intelligence (AI) and machine learning (ML) technologies, are expected to impact market growth positively. The growing presence of major fintech companies in the region is assisting the industry’s development. Furthermore, consumers’ increasing reliance on digital devices is likely to boost the market growth. These factors are anticipated to provide a boost to the market growth in the coming years.
Key Market Players
The major players in the market are Funding Circle Limited, Prosper Funding LLC, On Deck Capital, Inc, Lending Club Corporation, and Zopa Bank Limited, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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