Global Digital Lending Market To Be Driven By Increased Demand From End Use Industries In Major Applications In The Forecast Period Of 2021-2026Digital Lending Market | Global Industry Report Size Share Growth Price Analysis Trends Outlook and Forecast 2022-2027
The new report by Expert Market Research titled, ‘Global Digital Lending Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis global digital lending market assessing the market based on type and major 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, along with 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 (2016-2026)
• Historical Market Size (2020): USD 5 Billion
• Forecast CAGR (2021-2026): 15.5%
• Forecast Market Size (2026): USD 11.9 Billion
The fast adoption of digitization in the sector has altered the lending landscape dramatically over the years. The advantages of digital lending solutions and services offered by solution providers are making it more and more likely that businesses will use them. All FinTech categories, including payment investments, lending, and general banking, have seen growth throughout the COVID-19 crisis. Despite having fewer consumers, lending platforms have seen considerable growth. This is mainly because many firms are relying on speedy loan approvals during these difficult times. Contactless transactions have also become more popular to limit the spread of the virus.
Industry Definition and Major Segments
A digital lending platform enables lenders and borrowers to lend money via a digital or electronic approach, which simplifies the loan process, improves the user experience, and reduces costs by reducing the amount of time spent on client verification.
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By type, the market is divided into:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Consumer expectations and behaviour are changing as a result of the numerous benefits provided by the digitization of banking and financial services, which is a major driver driving the expansion of the industry under investigation. Customers may come from a number of different backgrounds, and they may seek the loan for a variety of different reasons, ranging from personal loans to SME financing and home loans, amongst many other things. Due to the COVID-19 pandemic, small and medium-sized enterprises (SMEs) around the world encountered difficulties in raising financing to keep their companies running during the crisis.
Strong growth is predicted for the APAC market. It is the government’s efforts to improve the region’s digital infrastructure that have pushed Digital Lending forward. Growth in APAC is predicted to be driven by rapid economic expansion, globalisation of technology, and greater smartphone use.
Key Market Players
The major players in the market are Funding Circle Limited, Prosper Funding LLC, On Deck Capital, Inc, LendingClub Corporation, Zopa Bank Limited and among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.
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Contact Person: Mathew Williams, Business Consultant
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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
About Authormathewwilliams Sheridan United States
My name is Mathew Williams work for Expert Market Research as a senior SEO executive. More info you can visit our company website - https://www.expertmarketresearch.com/
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