PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1164932
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1164932
Digital Lending Platform Market size was valued at USD 5,701.8 Million in 2021, expanding at a CAGR of 22.9% from 2022 to 2028.
Digital lending platforms enable the user to get loans from different entities. Digital channels are used to distribute and manage the entire lending process. The market for digital lending platforms is being driven by increased adoption of the internet, cell phones, peer-to-peer platforms, and independent platforms.
Increasing demand from the financial technology industry is a key factor contributing to the growth of the digital lending platform market. Globally, the fintech sector has experienced substantial growth. Asia Pacific and the Middle East are the main drivers of the expansion. Higher government emphasis, increased internet penetration, and measures to implement digitization to ensure transparency in the region's financial systems are some of the drivers propelling the market in the Asia Pacific. Financial institutions and other sectors have used digital payment solutions to reduce risk and effectively monitor and control transactions as a result of the rapid increase in bank accounts. Further, increasing adoption of digital lending platforms across industries such as e-commerce, healthcare, and telecom is also expected to bolster market growth.
In addition, the growing incorporation of blockchain technology by digital lending providers is expected to offer new growth opportunities for market growth. Regulators and auditors, two parties involved in the loan process, can readily verify identities and follow transactions thanks to blockchain technology. In March 2022, for instance, Figure Lending LLC and Apollo successfully completed a deal involving the transfer of ownership and digital mortgage loans. It is anticipated that this safe and organized mortgage loan register will increase the sector's efficiency and openness. COVID-19 has had a positive impact on the market as people preferred digital lending platforms for payment and other options.
The Global Digital Lending Platform Market is segmented on the basis of Payment Type, Application, and Region.
The market is split into three categories based on Payment Type: customer to customer, customer to the business, and business to business. The customer-to-customer segment dominates the market. In increasing adoption of digital platforms by all customers is mainly contributing to segment growth.
The market is segmented into eight categories based on application: BFSI, telecom, travel & booking, retail, e-commerce, healthcare, gaming, and others. The BFSI dominates the market and is likely to maintain its dominance during the forecast period. This is partly due to an increase in the adoption of digital lending platforms by banking and finance institutions.
The worldwide market for digital lending platforms is moderately fragmented and comprised of small and large market players. The companies in the market emphasize adopting aggressive strategies to reach out large consumer base. Some of the key techniques used by corporations in order to strengthen their reach and expand their market share include new product introduction, strategic partnerships, expansion in the distribution network, research spending, and mergers & acquisitions.
For instance, in January 2022, Paytm formed its partnership with Fullerton India, a non-banking financial company. Through this collaboration, the former company aims to expand digital lending to micro, small and medium enterprises, and consumers.
This proposed research study on Digital Lending Platform market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2022-2028), considering 2021 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Digital Lending Platform market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Digital Lending Platform market
Impact of COVID-19 on Digital Lending Platform market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Digital Lending Platform market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Digital Lending Platform market, we have also included competitive landscape and key innovator analysis for the Digital Lending Platform market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Digital Lending Platform market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Digital Lending Platform market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
FIS
Ellie Mae, Inc.
Fiserv, Inc.
Finastra
Newgen Software
Pegasystems Inc.
Roostify Inc.
Sigma Infosolutions
Tavant Technologies
Nucleus Software
Wizni, Inc.
GLOBAL DIGITAL LENDING PLATFORM MARKET, BY PAYMENT TYPE
Customer to customer
Customer to business
Business to business
GLOBAL DIGITAL LENDING PLATFORM MARKET, BY APPLICATION
BFSI
Telecom
Travel & booking
Retail
E-commerce
Healthcare
Gaming
Others
GLOBAL DIGITAL LENDING PLATFORM MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA