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 is contributing to the growth of peer-to-peer lending apps market"

Globally, the peer-to-peer lending apps market is expected to grow with a CAGR of more than 52% during the forecast period from 2019 to 2027. Globally, the financial industry has reshaped due to the growing finance model of crowd funding and marketplace lending. Various new and innovative platforms/firms are introducing new financing services. These new platforms become the disruptors that provide the financial institutes with alternative financing models, ranging from marketplace lending, P2P lending to equity crowd funding. For this changing financial sector, various companies are designing new solutions to address the needs of the FinTech sector along with the regulatory requirements as they developed. This paradigm shift in the financial sector is the major factor driving the demand for peer-to-peer lending apps and software. Furthermore, the demand for virtual money and virtual financial transactions is gradually increasing. This demand also fuels the growth of peer-to-peer lending apps and software market across the globe. Moreover, increasing number of P2P lenders also facilitates the growth this market. However, risk of losing all money, lack of awareness of p2p lending benefits among general population and higher government limitations are the factors restraining the growth of this market during the forecast period. 

Market Synopsis

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

In 2018, the cloud based peer-to-peer lending apps and software are 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 the software developers. Cloud based models are highly being adopted in every industry, financial sector is not exception to this adoption. These cloud-based models provide access to credit at an extraordinary level. These models reduce approval time from hours to minutes to in-an-instant and also provides outstanding loan management features for tracking borrower payments and monitoring changes to their credit rating. Advanced technology like cloud-based software are projected to be the key differentiator in the online money-lending arena.

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"Asia Pacific to Register the Fastest Growth"

North America dominates the Peer to peer lending apps market by holding the largest market share on global level. Large number of new product developments and increasing investments in technological advancements are the primary factors contributing to this huge market share. Additionally, growing adoption of virtual money transaction methods in the US and Canada is leading to the growth of this market in North American region. Peer-to-peer lending apps and software market is experiencing a significant growth in the developed regions, however emerging market offer substantial growth opportunities to the players operating locally or internationally. Countries such as India and China are offering significant growth opportunities to the players, based on the growing demand for advanced technologies, government support to adopt digital tools for financial transactions and 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.

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Some of the 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 & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments 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. The report provides a holistic view of global peer-to-peer lending apps market based on application, and geography. Key segments covered in the report are as follows:

Key questions answered in this report

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

Unique data points of this report

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