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Global Digital Lending Market to Grow at a CAGR of 15.5% During 2021-2026, Aided by the Rising Investments in the Banking Sector

According to a new report by EMR titled, ‘Global Digital Lending Market Report and Forecast 2021-2026’, the market attained a value of around USD 5.0 billion in 2020. It is expected to witness a healthy growth in the forecast period, growing at a CAGR of 15.5% between 2021 and 2026 to reach USD 11.9 billion by 2026.

The global digital lending industry is being driven by the rising investments in the banking and financial sector. In addition, the rapid digitalisation and the increasing preference for online net banking among consumers are anticipated to propel the market growth. The increased smartphone ownership worldwide is leading to an increased usage of financial apps, which is making the entire process of loan disbursement easy and convenient. Moreover, governments are increasingly supporting and promoting the use of digital technology across industry verticals to streamline business processes while enhancing their functionality. These factors are predicted to aid the market growth in the forecast period.

The rising demand for online banking services is compelling the leading market players to develop internet based digital lending solutions, which offer safe and secure banking options, among other facilities. This is expected to positively impact the industry growth in the forecast period. According to a press release issued by Lending Club Corporation (NYSE: LC), dated October 2019, the company announced the launch of their digital loan transaction platform known as LCX, which electronically connects a range of institutional investors and delivers dynamic price options and the same day settlement facility of fully funded loans. In addition, another leading digital lending vendor, Square (NYSE: SQ), in a press release dated July 2021, announced the launch of their square banking solution for small businesses. Square banking offers savings and checking accounts, as well as lending options under Square loans. These developments are expected to significantly impact the growth of the digital lending industry in the forecast period.

Market Breakup by Type and Region:

  • The market is divided based on type into business and consumer. 
  • Region-wise, the global market for digital lending can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for digital lending is being driven by the rapid investments in the banking and financial sector across the globe.
  • The rapid digitalisation is expected to significantly contribute to the market expansion. 
  • The rising consumer preference for online banking mechanisms such as net banking and apps is also aiding the industry growth. 
  • The rising technological advancements and the growing investments to develop secure digital lending solutions are expected to further propel the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for digital lending for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the types and regions of digital lending.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global digital lending market are Funding Circle Limited, Prosper Funding LLC, On Deck Capital, Inc, Lending Club Corporation, Zopa Bank Limited, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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