Market Research Report
Digital Lending Platform Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment, By End-use, By Region, And Segment Forecasts, 2022 - 2030
|Digital Lending Platform Market Size, Share & Trends Analysis Report By Solution, By Service, By Deployment, By End-use, By Region, And Segment Forecasts, 2022 - 2030|
Published: April 29, 2022
Grand View Research, Inc.
Content info: 120 Pages
Delivery time: 2-10 business days
The global digital lending platform market size is expected to reach USD 44.50 billion by 2030, registering a CAGR of 25.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. The growing adoption of digitalization in the BFSI sector is expected to create new opportunities for market growth. According to the European Central Bank, in 2020, 46% of European banks could process mortgages digitally in two days compared to 8% in 2015.
The funding raised by the digital lending providers worldwide is also one of the major factors expected to drive market growth. For instance, in April 2021, Auxmoney, a digital lending platform provider, announced that it raised USD 271.4 million. The company uses this funding to enhance its digital lending platform for consumer credit. Furthermore, companies operating in the digital lending space are focused on partnerships to enhance their offerings and market position. For instance, in April 2022, the two fintech companies, UI Enlyte and Exaloan, announced that they are launching a strategic corporation. Through this initiative, the companies will link their platforms for digital assets and lending.
The COVID-19 pandemic had a positive impact on market growth. The established digital lenders adopted new partnerships to cater to the borrower's funding demand amid the COVID-19 pandemic. At the same time, efforts taken by the banks to digitalize their process due to the pandemic also paved to be one of the major factors driving the market growth.