Peer To Peer (P2P) Lending Market Size To Reach USD 912.43 Billion By 2028 With CAGR Of 26.6% | Reports and data
Peer to Peer (P2P) Loan Market Growth Driven by Low Market Risk and Affordable Operating Costs
The Peer-to-Peer Lending Market (P2P) is expected to grow from USD 138.71 billion in 2020 to USD 912.43 billion by 2028, at a CAGR of 26.6% during the forecast period. Low market risk and affordable operating costs are the main driving force behind the market.
The peer to peer (P2P) lending market is expected to show significant growth owing to the increase in the implementation of online applications and the growing demand for traditional technological banking systems.
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Peer to Peer (P2P) loan is a debt financing process that allows different people to borrow and lend money using an online platform. The amount of interest charged for P2P loans is lower than for traditional prime loans. Investors get only part of the loan and distribute the loan amount among many buyers.
Some of the major key players in the market are Prosper Marketplace, Inc. (US), Upstart Network Inc. (US), Common Bond Inc (US), Funding Circle Limited (UK), Avant, Inc. (US), CircleBack Lending, Inc. (US), Social Finance Inc. (US), Peer form (US), Pave, Inc. (US), Daric Inc. (US)
For the purpose of this report, the market has been segmented on the basis of company, user, and region:
Business Outlook (Revenue, USD Million; 2020-2028)
- The peer-to-peer lending (P2P) market is expected to grow from USD 138.71 billion in 2020 to USD 567.30 billion by 2028, with a CAGR of 26.6% during the forecast period. Low market risk and affordable operating costs are the main driving force behind the market.
- Based on business, it is divided into Alternative Market Loans and Traditional Loans. The traditional P2P model is developing on a large scale, mainly in developing regions. Due to the lower availability of modern technologies in the region, many companies are adopting the P2P model. However, the market lending model is slowly spreading around the world and is expected to overtake the traditional model over the next few years.
- On the basis of user, the market is segmented into Small Business Loans, Consumer Loans, Home Loans, Student Loans. A majority of students are looking for loans at minimal interest rates and these are usually offered by traditional money lenders, which in turn increases the market growth by 27.3%. The student population is increasing day by day. Alternative small business lending platforms use digital tools and machines to provide credit facilities to a wide range of small businesses quickly and efficiently, primarily those that have been rejected by banks. Thus, small businesses are acting as a major user in the peer-to-peer lending market.
- The P2P loan market is segmented into five regions namely North America, Asia Pacific (APAC), Europe, Middle East & Africa (MEA) and Latin America. APAC is expected to dominate the market with the highest share of 40%
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Key Features of the Peer to Peer (P2P) Loans Market Report:
- Detailed assessment and comprehensive understanding of the Peer to Peer (P2P) loan market
- Important information on manufacturing processes, main obstacles and risks
- 8-year forecast estimate to offer insights into market size and market share at global and regional level
- Assessment of the main drivers, constraints, growth opportunities, threats, limitations, obstacles and other key elements
- Identifying the growth prospects and potential of the Peer to Peer (P2P) lending industry
- Comprehensive analysis of major market players and their strategies
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