The global Digital Lending Platform Market size is expected
to reach USD 44.50 billion by 2030, registering a CAGR of 26.5% from 2023 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.
Related Press Release@ Digital Lending Platform Market Report
Digital Lending Platform Market
Report Highlights
- The lending analytics segment is anticipated to register the
highest CAGR during the forecast period. The benefits provided by the
lending analytics solution, such as reduced operation risk, labor hours,
operational cost, and others, are driving the segment
- The risk assessment segment is anticipated to register the highest
CAGR from 2023 to 2030. The strong emphasis financial institutions are
putting on ensuring proactive responses to various cyber threats and
resuming normalcy in the event of a cyberattack is expected to drive the
growth of the risk assessment segment
- The cloud segment is expected to register the highest CAGR during
the forecast period. Cloud deployment helps in reducing up-front costs,
particularly for new entrants contemplating a foray into the lending
business
- The peer-to-peer lending segment is expected to emerge as the
fastest-growing end-use segment during the forecast period. The adoption
of digital lending platforms is expected to gain traction as the digitally
savvy consumer base continues to expand
- North America accounted for the largest share of the market in
2022. The region is home to a large number of technology providers and
hence provides immense opportunities for the adoption of digital lending
platforms
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Grand View Research, Inc. is a U.S. based market research
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in San Francisco. The company provides syndicated research reports, customized
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business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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