According to IMARC Group’s latest report “Peer to Peer (P2P) Lending Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global Peer to Peer (P2P) Lending Market reached a value of US$112.9 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$525.3 billion by 2027, posting a CAGR of 28. 1% over the period 2022-2027.
Peer-to-peer (P2P) lending is a type of online financial arrangement between individuals and businesses that does not include banks or other financial institutions. It provides loans to qualified applicants through Internet platforms that connect borrowers with investors or lenders. Individuals can obtain business, personal, or educational loans with flexible repayment terms and cheap interest rates through peer-to-peer lending. It offers a higher return on investment (ROI) and facilitates fast, convenient and hassle-free loans with minimal documentation and no impact on credit scores. As a result, P2P lending is becoming increasingly popular among large and small businesses, individuals, families, and real estate.
The growing demand for these platforms to eliminate maintenance costs, establish physical branches and staff, and reduce risk for lenders and borrowers is primarily driving the peer to peer (P2P) lending market. With this in mind, expanding small and medium-sized enterprises (SMEs) are further augmenting the growth of the global peer-to-peer lending market. Additionally, the growing need for an alternative financing option that offers convenient repayment options and minimal billing fees is also catalyzing the global market. Furthermore, the development of smart contracts on blockchain technology that provide reliable and transparent borrowing and lending facilities acts as another important growth driver. Additionally, shifting consumer preferences towards online loans to avoid cumbersome documentation process and lengthy procedures are also driving the market growth. In addition, the increasing digitization of the banking, financial services and insurance (BFSI) sector and the increase in mortgage lending activities are expected to strengthen the peer-to-peer (P2P) lending market in the coming years.
Note: We regularly track the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Breakdown by type of loan:
Business lending holds the majority of the global peer-to-peer (P2P) lending market share due to expanding business operations globally and high return on investment (ROI) of P2P lending.
Breakdown by Business Model:
Loans on the market
Traditional loans are currently dominating the market as they help borrowers get quick and convenient loans.
Breakdown by end user:
Small businesses are showing clear dominance in the market as P2P lending platforms allow them to borrow loans directly from investors at low interest rates.
Market Breakdown by Region:
North America (USA, Canada)
Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
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Competitive landscape with a key player:
Before Inc (TYO: 3836)
Funding Circle Ltd (LON: FCH)
LendingClub Corporation (NYSE: LC)
Lendingtree Inc. (NASDAQ: TREE)
On Deck Capital Inc.
Prosper Marketplace Inc.
Retail Money Market Ltd (BOM: 540615)
Social Finance Inc. (NASDAQ: SOFI)
Upstart Network Inc. (NASDAQ: UPST)
As the novel coronavirus (COVID-19) crisis engulfs the world, we continuously monitor changes in markets, as well as industry consumer behaviors around the world and our estimates on the latest market trends and forecasts are made. after considering the impact of this pandemic.
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