The market size is expected to increase from US$ 1.2 billion in 2022 to US$ 5.1 billion by 2032, according to Future Market Insights (FMI’s) estimate of the Peer-to-Peer (P2P) marketplace industry. During the forecast period from 2022 to 2032, the CAGR is expected to be 15.5%.
According to FMI, during the course of the projection period, the market is likely to grow as internet-connected services become more prevalent and the BFSI sector becomes more digitalized. Faster peer-to-peer Fintech processes and real-time transaction capability are made possible by these platforms.
Social media has improved the digital lives of the big young populations in nations like China and India. Peer-to-peer marketplace use is encouraged by the large number of unbanked and underbanked people in the world, which has spurred the development of digital financial services available via smartphones.
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Customers favor mobile commerce, and most governments have taken action to promote the expansion of the digital economy and infrastructure. Digital payment is changing consumers’ social networks, financial services, digital entertainment, daily life services, and shopping behaviors. In the upcoming years, these elements are anticipated to increase sales in the peer-to-peer marketplace business.
For market participants, the ongoing need for loans and debt is translating into growth potential. Internet companies are spending more on R&D to develop online platforms that are approved by the Reserve Bank of India (RBI), as India’s economy is one of the fastest-growing in the world.
To safeguard the interests of both lenders and borrowers, such regulations are necessary. A game-changer in terms of lowering the risk of fraud and loan default is blockchain technology. Additionally, this technology helps to improve the security of Fintech platforms. As a result, Peer-to-Peer (P2P) marketplace use is anticipated to increase significantly.
Key Takeaways:
- By platform type, FinTech P2P marketplaces segment is expected to grow at a CAGR of 18.2% in the global demand for Peer-to-Peer (P2P) marketplace during the forecast period 2022-2032.
- By business model, the Business-to-Consumer (B2C) segment is anticipated to increase at a CAGR of 19.0% between 2022 & 2032.
- By industry, the adoption of Peer-to-Peer (P2P) marketplace solution in BFSI segment is anticipated to increase at a CAGR of 17.7% between 2022 & 2032.
- North America is expected to lead the market followed by Europe in 2022. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2022 & 2032.
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Competitive Landscape
The Peer-to-Peer (P2P) marketplace market is very competitive due to the presence of small and medium vendors offering Peer-to-Peer (P2P) marketplace solution globally. To increase their share in Peer-to-Peer (P2P) marketplace market, leading competitors are investing in product innovation and collaboration strategies.
For instance:
- In November 2021, Miralkl announced to develop a digital marketplace to further the company’s reputation as a digitally-led omnichannel retailer. By allowing merchants to sell their products on bloomingdales.com and macys.com, the new marketplace will extend the company’s inventory in existing categories and brands, as well as introduce a variety of new categories.
- In October 2021, Chetu announced its collaboration with PAX Technology, a payment solution provider, which has been added to the company’s global partner network to help PayFacs, ISOs/MSPs, PSPs, payment processors and payment gateway providers, develop distinctive payment experiences.
Peer-To-Peer (P2P) Marketplace Outlook By Category
By Platform Type:
- eCommerce / Retail P2P Marketplaces
- FinTech P2P Marketplaces
- Rental P2P Marketplaces
- Others
By Business Model:
- Customer-to-Customer (C2C)
- Business-to-Consumer (B2C)
- Business-to-Business (B2B)
By Industry:
- BFSI
- Retail/eCommerce
- Real Estate
- Education
- Travel & Hospitality
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Table of Content
1.Executive Summary | Peer-To-Peer (P2P) Marketplace Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Solution Innovation / Development Trends
4. Pricing Analysis
4.1. Types of Pricing Models, By P2P Platforms
4.2. Global Pricing Analysis Benchmark
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