IndustryARC announced the publication of a new market research report on the P2P lending market. The report highlights that the consistent growth of small and medium-sized enterprises across the globe will continue to be the most prominent growth drivers for the P2P lending market. Traditionally, banks served as the sole financial institutions for the provision of loans but that have now been replaced by crowd-funding platforms, which function on the peer-to-peer lending system and connects lenders and borrowers. Thus, the P2P lending market has successfully bridged the gap between affluent lenders and insolvent borrowers, and is expected to expand with a CAGR of 4.95% during the forecast period 2019-2025.
The IndustryARC report titled ‘P2P Lending Market: Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast (2019 – 2025)’ contains a substantial analysis of forces that have discreetly led to a subtle rise of P2P lending platforms in several countries around the world. Through the use of statistical information, the analyst has been able to evaluate the global P2P lending market size to be $279.6m in 2018..
P2P Lending Market: Competitive Landscape and Regional Analysis
‘After bearing heavy losses during the financial crisis in 2008, central banks of several countries, especially China, have delved into experimenting with alternative lending platforms that help banks in evading non-performing assets and maintaining their financial strength,’ states the analyst. Further analysis by the analyst includes a list of competitive players such as Upstart, Funding Circle, Prosper Lending, Lending Club, Peerform, Circleback Lending, Mintos, Grupeer, Zopa, LendingTree, SoFi, and Kiva who are operating in the P2P lending marketplace providing loans such as consumer credit loans, small business loans, student loans, and real estate loans..
China has been evaluated as the geographical leader of the global P2P lending market with a country-wide share of 69.47% in 2018. The rising number of micro, medium, and large enterprises in China has been the leading factor for the prosperity of the China peer-to-peer lending market. With the growth of internet and e-commerce platforms, P2P lending companies such as WeLab, and Ezubao have become prominent forms of alternative lending in the country. In 2018, People’s Bank of China started an initiative for making the fintech space devoid of fraudulent activities with the identification of genuine P2P companies, thus strengthening the market even further.
P2P Lending Market: Disruptive Trends
· Reception of NBFC status
Peer-to-peer lending companies have been officially recognized in some countries as non-banking financial companies. For example, in India, the Reserve Bank of India officially regulates these companies. This has made it easier for the growth of key market players in the P2P lending market as they can now assert their legal status in alternative lending.
· Festival Loans
During festivals and wedding occasions, a large number of individuals are in dire need of credit. P2P lending companies have capitalised on this opportunity and increased the provision of loans during the months of September to December.
· Gaining Trust of Banks
After witnessing the potential that P2P companies possess in the FinTech space, banks have stepped in several forms. Barclays Ltd., a popular international bank now owns a stake in RainFin which is a P2P lending company operating in South Africa. Similarly, Lending Club, a popular key market player has reported a sudden increase in banks as clients on their platform.
· Popularity amongst Millennials
Millennials are known for their proclivity towards investing in current circumstances instead of long term savings. Their perpetual need for short term credit has disrupted the P2P lending market and enabled different schemes that cater to their needs. Their inclination towards digital technology and ease of accessibility has also impacted the market.
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What can you expect from the report?
The P2P Lending Market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Applications 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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