Peer-to-peer (P2P) Lending Apps Market By Component (Software, Services), By Deployment Model (Cloud, On-premise), By Business Model (Alternate Marketplace Lending, Traditional Lending) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027

Growing usage of virtual money and rapid changes occurring in the financial sector are contributing to the growth of the peer-to-peer lending app market.

Globally, the peer-to-peer lending apps market is expected to grow at a CAGR of more than 52% during the forecast period from 2019 to 2027. Globally, the financial industry has been reshaped due to the growing finance models of crowdfunding and marketplace lending. As a result, various new and innovative platforms and firms are introducing new financing services. These new platforms become the disruptors that provide financial institutes with alternative financing models, ranging from marketplace lending and P2P lending to equity crowdfunding. In addition, various companies are designing new solutions for this changing financial sector to address the FinTech sector's needs and regulatory requirements as they develop. This paradigm shift in the financial industry is the primary factor driving the demand for peer-to-peer lending apps and software.

Furthermore, the demand for virtual money and financial transactions is gradually increasing. This demand also fuels the growth of peer-to-peer lending apps and software markets across the globe. Moreover, the increasing number of P2P lenders also facilitates the development of this market. However, the risk of losing all money, a lack of awareness of p2p lending's benefits among the general population, and higher government limitations are restraining the growth of this market during the forecast period.

Cloud-based peer-to-peer lending apps and software are expected to grow at a higher CAGR during the forecast period.

In 2018, cloud-based peer-to-peer lending apps and software were expected to reach the top of the chart during the forecast period. As the market for cloud lending is vastly growing and the number of cloud lenders is extending more than $1 trillion in digital loans each year, it opens new avenues for software developers. Cloud-based models are widely adopted in every industry, and the financial sector is no exception to this trend. These cloud-based models provide access to credit at an extraordinary level. These models reduce approval times from hours to minutes to instant and provide outstanding loan management features for tracking borrower payments and monitoring changes to their credit rating. Advanced technology like cloud-based software is projected to be the critical differentiator in online money lending.

Asia Pacific to Register the Fastest Growth

North America dominates the peer-to-peer lending app market, holding the largest market share globally. A large number of new product developments and increasing investments in technological advancements are the primary factors contributing to this enormous market share. Additionally, the growing adoption of virtual money transaction methods in the US and Canada is leading to the growth of this market in the North American region. As a result, the peer-to-peer lending apps and software market is experiencing a significant increase in the developed areas; however, emerging markets offer substantial growth opportunities to the players operating locally or internationally.

Countries such as India and China are showing significant growth opportunities to the players based on the growing demand for advanced technologies, government support to adopt digital tools for financial transactions, and the expansion of international players in this region. Moreover, local companies in this region are attracting much investment to develop and deploy peer-to-peer lending apps and software to local and international customers.

Some prominent players operating in the peer-to-peer lending apps market include Turnkey Lender, AIS Technolabs, Profile Software, Lending Software, Ahsan Technologies, HiEnd Systems, Lending Club, AIS Technolabs, Habile Technologies, and SoFi, among others.

Historical and Forecast Period

This research report presents the analysis of each segment from 2017 to 2027,considering 2018as the base year for the research. The compound annual growth rate (CAGR) for each respective detail is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The peer-to-peer lending apps market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global peer-to-peer lending app market based on application and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

• What was the market size of peer-to-peer lending apps in 2018 and the forecast up to 2027?
• Which is the largest regional market for the cloud-based software segment?
• What significant trends followed in the peer-to-peer lending app market across different regions?
• Who are the critical peer-to-peer lending app companies leading the market?
• What are the key strategies adopted by the leading peer-to-peer lending app companies in the market?

Unique data points of this report

• Statistics on peer-to-peer lending app penetration and spending worldwide
• Recent trends across different regions in terms of the adoption of analytics solutions for various applications in the financial sector
• Notable developments are going on in the peer-to-peer lending app industry.
• Attractive investment propositions for segments as well as geography
• Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

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