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Global Digital Lending Market Share, Size, Trends, Growth, Analysis, Report: By Type: Business, Consumer; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; 2024-2032
Global Digital Lending Market Outlook
The global digital lending market stood at a value of around USD 7.70 billion in 2023. The market is further expected to grow at a CAGR of 15.5% in the forecast period of 2024-2032 to attain a value of around USD 28.24 billion by 2032.
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Increasing Consumer Demand for Digital Lending to Propel the Market Growth of the Global Digital Lending Industry
Based on type, the consumer segment is predicted to account for a significant market share in the digital lending industry. This increase can be attributed to the rising awareness among consumers pertaining to digital lending services. New regulations are being implemented to make digital lending services more inclusive and mainstream with renewed attention. For instance, South Korea drafted the data-lending laws in 2020, becoming the first country in the world to do so.
This is expected to attract more consumers to engage in digital lending, as these laws would provide a sense of credibility and protection to the consumers. In addition, easy accessibility, consistency, convenience, and opportunity to make quick decisions are some of the benefits that are predicted to aid the market growth in the coming years.
North America to Possess a Significant Market Share in the Global Digital Lending Industry
North America is anticipated to occupy a significant share of the digital lending industry in the forecast period. This growth can be attributed to the heightened deployment of digital solutions across industry verticals in the region. Consequentially, the financial sector is also witnessing an increased adoption of digital solutions, such as digital lending, for quick and efficient loan disbursement with convenient credit and information acquisition and real-time monitoring. Moreover, the increasing presence of significant fintech companies in the region is also aiding the industry growth. Furthermore, the rising digital dependency among consumers is also expected to aid the market growth.
Digital Lending: Market Segmentation
Digital lending is the process of obtaining a loan, which is conducted entirely through the digital channel. The borrowing process from the application, disbursement, to management is carried out digitally. In addition, digital mechanisms are used by the lenders to provide information pertaining to credit decisions, which enhances the consumer experience. For instance, consumers can check any loan-related information on their smartphones at their leisure, or the lenders can resolve queries of their customers through mobile apps or over the call. This helps save time and enhance customer engagement through quick information access and convenient and personalised communication, among others.
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By type, the market is divided into:
- Business
- Consumer
Among these, the business segment can be further bifurcated by type into business digital lending market dynamics and business digital lending ecosystem. At the same time, the consumer segment can be further segregated by type into consumer digital lending market dynamics, consumer digital lending models, and consumer digital lending ecosystem.
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Heightened Investments in the Financial Sector to Bolster the Growth of the Global Digital Lending Industry
The rising investments in the banking and financial sector are aiding the growth of the digital lending industry. In addition, rapid digitalisation is also contributing to the overall market growth. This can be attributed to the increased usage of digital solutions across banking operations to streamline business processes while improving the overall functionality and efficiency of the banking sector. Moreover, the increasing adoption of smartphones among consumers and the growing preference for online banking facilities through apps are also aiding the market growth. The heightened technological advancements such as the utilisation of cloud, artificial intelligence (AI), and machine learning (ML) technology are further anticipated to augment the market growth in the coming years.
Key Industry Players in the Global Digital Lending Market
The report gives a detailed analysis of the following key players in the global digital lending industry, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Funding Circle Limited
- Prosper Funding LLC
- On Deck Capital, Inc
- LendingClub Corporation
- Zopa Bank Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Digital Lending Market Analysis
8.1 Key Industry Highlights
8.2 Global Digital Lending Historical Market (2018-2023)
8.3 Global Digital Lending Market Forecast (2024-2032)
8.4 Global Digital Lending Market by Type
8.4.1 Business
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Breakup by Type
8.4.1.3.1 Business Digital Lending Market Dynamics
8.4.1.3.2 Business Digital Lending Ecosystem
8.4.2 Consumer
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.2.3 Breakup by Type
8.4.2.3.1 Consumer Digital Lending Market Dynamics
8.4.2.3.2 Consumer Digital Lending Models
8.4.2.3.3 Consumer Digital Lending Ecosystem
8.5 Global Digital Lending Market by Region
8.5.1 North America
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
9 North America Digital Lending Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Digital Lending Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Digital Lending Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Digital Lending Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Digital Lending Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Funding Circle Limited
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Prosper Funding LLC
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 On Deck Capital, Inc
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 LendingClub Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Zopa Bank Limited
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Digital Lending Market: Key Industry Highlights, 2018 and 2032
2. Global Digital Lending Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global Digital Lending Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global Digital Lending Historical Market: Breakup by Region (USD Billion), 2018-2023
5. Global Digital Lending Market Forecast: Breakup by Region (USD Billion), 2024-2032
6. North America Digital Lending Historical Market: Breakup by Country (USD Billion), 2018-2023
7. North America Digital Lending Market Forecast: Breakup by Country (USD Billion), 2024-2032
8. Europe Digital Lending Historical Market: Breakup by Country (USD Billion), 2018-2023
9. Europe Digital Lending Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Asia Pacific Digital Lending Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Asia Pacific Digital Lending Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Latin America Digital Lending Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Latin America Digital Lending Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Middle East and Africa Digital Lending Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Middle East and Africa Digital Lending Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Global Digital Lending Market Structure
Key Questions Answered in the Report
In 2023, the global digital lending market attained a value of nearly USD 7.70 billion.
The market is projected to grow at a CAGR of 15.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 28.24 billion by 2032.
The major market drivers include the growing smartphone ownership and the increasing awareness among consumers pertaining to digital lending services.
The key trends guiding the market demand include the introduction of favourable government regulations to make digital lending services more inclusive and mainstream, rising investments in the banking and financial sector, and the increasing use of online banking facilities.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various types of digital lending considered in the market report are business and consumer.
The key market players include Funding Circle Limited, Prosper Funding LLC, On Deck Capital, Inc, LendingClub Corporation, and Zopa Bank Limited, among others.
Analyst Review
The global digital lending market attained a value of USD 7.70 billion in 2023, driven by the rising investments in the banking and financial sector. Aided by the rapid digitalisation, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 15.5%. The market is projected to reach USD 28.24 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By type, the market can be distributed into business and consumer. The major regional markets for digital lending are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Funding Circle Limited, Prosper Funding LLC, On Deck Capital, Inc, Lending Club Corporation, Zopa Bank Limited, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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