Market Research Report
Digital Lending Platform Market with COVID-19 Impact Analysis, By Solution, By Deployment, By Application, and By Region - Size, Share, & Forecast from 2021-2027
|Digital Lending Platform Market with COVID-19 Impact Analysis, By Solution, By Deployment, By Application, and By Region - Size, Share, & Forecast from 2021-2027|
Published: June 1, 2021
AnalystView Market Insights
Content info: 299 Pages
Delivery time: 2-3 business days
The global Digital Lending Platform market was valued at USD 4.89 billion by 2019, growing with 25.4% CAGR during the forecast period, 2021-2027.
Digital lending platforms help banks and financial institutions to offer different financial services such as faster loan processing, high-quality services, and cost-efficient financial services to various customers across the world. Additionally, the use of digital lending platforms helps financial services providers enhance their market share and to compete in a rapidly changing environment.
The Digital Lending Platform market is expected to witness steady growth and will speed up in the next decade, owing to Initiatives pursued aggressively by financial institutions to enhance the experience for customers. In addition, the increasing rising internet penetration along with smartphones is expected to bolster the market growth. Further, several benefits such as easy accessibility, and quick decision-making are projected to boost the market growth. BFSI organizations are aggressively adopting digital business models in line with the changing needs of customers and the growing preference for online lending solutions. According to the statistics by Deloitte, 73% of consumers are using online banking channels at least once a month, as compared to the 59% who used mobile banking applications.
Advancement in the latest technologies, such as blockchain, machine learning, Artificial Intelligence (AI), and advanced analytics, coupled with strategic deployment of the latest techniques, such as mandates, biometric-enabled authentication, and e-signatures is expected to boost the market growth. A digital lending platform can potentially serve as an end-to-end digital platform which are designed to help financial institutions in catering to the changing customer expectations and enhancing customer experience. A digital lending platform can offer an omnichannel customer experience for both lenders & borrowers. The increasing volume of payment transactions is creating the demand for online platforms to manage the transactions process. However, various challenges, such as concerns over data security and privacy protection, are expected to restrain the market growth. Several government bodies across the world have already embarked upon efforts to address the concerns over data security and privacy protection.
North America is estimated to dominate the global market. The region is expected to emerge as the fastest-growing segment expanding at a CAGR in the forthcoming years. The region is known to be an early adopter of the latest and advanced technologies. As a result, the demand for digital, end-to-end financial solutions is contributing to market growth. Europe is projected to grow at a significant rate over the forecast period. Asia Pacific is projected to grow at a substantial CAGR during the forecast period. The rising penetration of smartphones and the internet is fueling the market growth.
The digital lending platform market is fragmented into solution, deployment, and applications segments. Based on the solution, the business process management segment is anticipated to dominate the market. By deployment, the cloud segment is projected to hold the largest market share. By application, the banks' segment is projected to grow at the highest CAGR during the forecast period.
Key features of the study:
This proposed research study on Digital Lending Platform market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2020-2027), considering 2019 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 end-user's 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 product launch, research & development, regional expansion of major participants involved in the Digital Lending Platform 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
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL DIGITAL LENDING PLATFORM MARKET KEY PLAYERS
Ellie Mae, Inc.
GLOBAL DIGITAL LENDING PLATFORM MARKET, BY SOLUTION
Business Process Management
Risk & Compliance Management
GLOBAL DIGITAL LENDING PLATFORM MARKET, BY DEPLOYMENT
GLOBAL DIGITAL LENDING PLATFORM MARKET, BY APPLICATION
Saving & Loan Association
GLOBAL DIGITAL LENDING PLATFORM MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures