The growth of the peer to peer lending market is driven by lesser operating cost and low market risk, an increase in technological advancements, and a rise in adoption of peer to peer lending platforms.
WILMINGTON, Del., Oct. 11, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Peer to Peer Lending Market by Business Model (Traditional Lending and Alternate Marketplace Lending), Loan Type (Consumer Credit Loans, Small Business Loans, Student Loans, and Real Estate Loans), and End User (Business and Personal): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global peer to peer lending industry generated $152.98 billion in 2022, and is anticipated to generate $1,701.19 billion by 2032, witnessing a CAGR of 27.5% from 2023 to 2032.
The peer to peer (P2P) lending industry is bolstering with a significant advancements in technology and data analysis. This type of lending does not require a bank or a credit institution as an intermediary.
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- 124 - Tables
- 55 - Charts
- 125 - Pages
Prime determinants of growth
The top impacting factors for peer to peer lending market include lesser operating cost and lower market risk for lenders & borrowers. In addition, increase in technological advancements in P2P lending platform fuels the growth of the market. However, regulatory challenges and risk associated with the P2P lending hamper the growth of the market. In addition, increase in demand for alternative lending options and technological innovations are expected to provide lucrative opportunities for the growth of the market.
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Report coverage & details:
Report Coverage | Details |
Forecast Period | 2022–2032 |
Base Year | 2022 |
Market Size in 2022 | $152.98 billion |
Market Size in 2032 | $1,701.19 billion |
CAGR | 27.5 % |
No. of Pages in Report | 125 |
Segments Covered | Business Model, Loan Type, End User, and Region. |
Drivers | Lesser operating cost and low market risk Increase in technological advancements |
Opportunities | Increase in demand for alternative lending options and technological innovations |
Restraints | Regulatory challenges Risk associated with the P2P lending |
The traditional lending segment to maintain its leadership status throughout the forecast period
Based on business model, the traditional lending segment held the highest market share in 2022, accounting for more than three-fourths of the global peer to peer lending market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to rise in adoption of traditional P2P lending in developing nations and lack of availability of modern technologies. However, the alternate marketplace lending segment is projected to manifest the highest CAGR of 30.5% from 2023 to 2032. This is attributed to the increase in digital data points & credit scores due to rapid deployment of online payments that encourage non-traditional lenders to assess credit risk.
The small business loans segment to maintain its leadership status throughout the forecast period
Based on loan type, the small business loans segment held the highest market share in 2022, accounting for more than two-fifths of the global peer to peer lending market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that small business loans offer small businesses easier access to funding compared to traditional banks. Furthermore, it provides investors with opportunities for potentially higher returns than traditional investments. However, the consumer credit loans segment is projected to manifest the highest CAGR of 32.2% from 2023 to 2032. This is attributed to the increase in adoption of consumer credit loans, as it provides a brief idea of financial flexibility of individuals to the lender.
The business segment to maintain its leadership status throughout the forecast period
Based on end user, the business segment held the highest market share in 2022, accounting for nearly two-thirds of the global peer to peer lending market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to faster business loans, changes in business preferences, and an increase in small business administration (SBA) lending programs. However, the personal segment is projected to manifest the highest CAGR of 28.8% from 2023 to 2032. This is attributed to the change in consumer expectations and simplified lending processes via mobile applications and other financial management tools.
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North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than three-fifths of the global peer to peer lending market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to different factors such as higher interest rates in traditional banking and an increase in loan rejection rates in small and medium-sized businesses. However, Asia-Pacific is expected to witness the fastest CAGR of 30.8% from 2023 to 2032. This is attributed to factors such as development in financial institutions, minimal lending regulations, and rise in number of crowd lending platform in the emerging countries such as India and Japan.
Leading Market Players: -
- Funding Circle Limited
- LendingClub Bank
- SocietyOne
- Harmoney Australia Pty Ltd
- Linked Finance
- Lending Loop
- LendingTree, LLC
- Prosper Funding LLC
- Upstart Network, Inc.
- goPeer
The report provides a detailed analysis of these key players of the global peer to peer lending market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the peer to peer lending market analysis from 2022 to 2032 to identify the prevailing peer to peer lending market opportunity.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- The Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the peer to peer lending market segmentation assists to determine the prevailing peer to peer lending market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the peer to peer lending market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the peer to peer lending market players.
- The report includes the analysis of the regional as well as peer to peer lending market trends, key players, market segments, application areas, and market growth strategies.
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Peer to Peer Lending Market Report Highlights
By Business Model
- Traditional Lending
- Alternate Marketplace Lending
By Loan Type
- Consumer Credit Loans
- Small Business Loans
- Student Loans
- Real estate Loans
By End User
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (Australia, India, Japan, South Korea, Singapore, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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