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The global digital lending market stood at a value of around USD 5.0 billion in 2020. The market is further expected to grow at a CAGR of 15.5% in the forecast period of 2022-2027 to attain a value of around USD 11.9 billion by 2026.
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.
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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 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 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.
By type, the market is divided into:
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.
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.
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:
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Region|
|Breakup by Type||Business, Consumer|
|Breakup by Region||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||Funding Circle Limited, Prosper Funding LLC, On Deck Capital, Inc, LendingClub Corporation, Zopa Bank Limited, Others|
|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.|
*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.
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
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
7 Industry Opportunities and Challenges
8 Global Digital Lending Market Analysis
8.1 Key Industry Highlights
8.2 Global Digital Lending Historical Market (2017-2021)
8.3 Global Digital Lending Market Forecast (2022-2027)
8.4 Global Digital Lending Market by Type
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
184.108.40.206 Breakup by Type
220.127.116.11.1 Business Digital Lending Market Dynamics
18.104.22.168.2 Business Digital Lending Ecosystem
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
184.108.40.206 Breakup by Type
220.127.116.11.1 Consumer Digital Lending Market Dynamics
18.104.22.168.2 Consumer Digital Lending Models
22.214.171.124.3 Consumer Digital Lending Ecosystem
8.5 Global Digital Lending Market by Region
8.5.1 Market Share
126.96.36.199 North America
188.8.131.52 Asia Pacific
184.108.40.206 Latin America
220.127.116.11 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2017-2021)
9.1.2 Forecast Trend (2022-2027)
9.1.3 Breakup by Country
18.104.22.168 United States of America
9.2.1 Historical Trend (2017-2021)
9.2.2 Forecast Trend (2022-2027)
9.2.3 Breakup by Country
22.214.171.124 United Kingdom
9.3 Asia Pacific
9.3.1 Historical Trend (2017-2021)
9.3.2 Forecast Trend (2022-2027)
9.3.3 Breakup by Country
9.4 Latin America
9.4.1 Historical Trend (2017-2021)
9.4.2 Forecast Trend (2022-2027)
9.4.3 Breakup by Country
9.5 Middle East and Africa
9.5.1 Historical Trend (2017-2021)
9.5.2 Forecast Trend (2022-2027)
9.5.3 Breakup by Country
126.96.36.199 Saudi Arabia
188.8.131.52 United Arab Emirates
184.108.40.206 South Africa
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Funding Circle Limited
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
12.2.2 Prosper Funding LLC
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
12.2.3 On Deck Capital, Inc
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
12.2.4 LendingClub Corporation
126.96.36.199 Company Overview
188.8.131.52 Product Portfolio
184.108.40.206 Demographic Reach and Achievements
12.2.5 Zopa Bank Limited
220.127.116.11 Company Overview
18.104.22.168 Product Portfolio
22.214.171.124 Demographic Reach and Achievements
13 Industry Events and Developments
List of Figures and Tables
1. Global Digital Lending Market: Key Industry Highlights, 2016 and 2026
2. Global Digital Lending Historical Market: Breakup by Type (USD Billion), 2017-2021
3. Global Digital Lending Market Forecast: Breakup by Type (USD Billion), 2022-2027
4. Global Digital Lending Historical Market: Breakup by Region (USD Billion), 2017-2021
5. Global Digital Lending Market Forecast: Breakup by Region (USD Billion), 2022-2027
6. North America Digital Lending Historical Market: Breakup by Country (USD Billion), 2017-2021
7. North America Digital Lending Market Forecast: Breakup by Country (USD Billion), 2022-2027
8. Europe Digital Lending Historical Market: Breakup by Country (USD Billion), 2017-2021
9. Europe Digital Lending Market Forecast: Breakup by Country (USD Billion), 2022-2027
10. Asia Pacific Digital Lending Historical Market: Breakup by Country (USD Billion), 2017-2021
11. Asia Pacific Digital Lending Market Forecast: Breakup by Country (USD Billion), 2022-2027
12. Latin America Digital Lending Historical Market: Breakup by Country (USD Billion), 2017-2021
13. Latin America Digital Lending Market Forecast: Breakup by Country (USD Billion), 2022-2027
14. Middle East and Africa Digital Lending Historical Market: Breakup by Country (USD Billion), 2017-2021
15. Middle East and Africa Digital Lending Market Forecast: Breakup by Country (USD Billion), 2022-2027
16. Global Digital Lending Market Structure
In 2020, the global digital lending market attained a value of nearly USD 5.0 billion.
The market is projected to grow at a CAGR of 15.5% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 11.9 billion by 2026.
The major drivers of the industry, such as the increased demand for digital lending solutions, rapidly growing smartphone ownership, heightened digitalisation, and the increased investments by the governments in the promulgation of digital lending facilities, are expected to aid the market growth.
The key market trends guiding the growth of the industry include the rising investments in the banking and financial industry and the rapid technological advancements.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant segments based on type considered within the market report include business and consumer.
The major players in the industry are Funding Circle Limited, Prosper Funding LLC, On Deck Capital, Inc, Lending Club Corporation, Zopa Bank Limited, and others.
The global digital lending market attained a value of USD 5.0 billion in 2020, 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 2022-2027, growing at a CAGR of 15.5%. The market is projected to reach USD 11.9 billion by 2026.
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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