Low operational expenses and reduced market risk for lenders and borrowers are to blame for the market’s expansion. During the projected period, increased digitization in the banking industry is anticipated to present the market with sizable business prospects. By the end of 2032, the worldwide peer-to-peer lending market is predicted to have grown from US$ 407.2 billion in 2022 to US$ 1.3 trillion. From 2022 to 2032, the market is anticipated to grow at a CAGR of 12.7%.
P2P lending is also being effectively utilised by a variety of end users, including the real estate industry, as its popularity has grown. Additionally, it is anticipated that increased player initiatives to work together will eventually help the market.
For instance, in May 2022, Fable Fintech, an eminent banking infrastructure enterprise, announced its strategic partnership with XeOPAR. XeOPAR is ready to make the most of the Fable Growth Suite (Retail) by establishing its first P2P remittances corridor from the United Kingdom to India, among others in SE Asia, East Africa, West Africa, the USA, Singapore, and the Middle East.
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Owing to such initiatives, the market is anticipated to expand significantly in the forecast period. On the contrary, risks associated with peer-to-peer lending are expected to limit the market growth in the forecast period. Also, with less awareness about P2P lending, the market is expected to suffer.
However, with rising development in APAC along with the increasing number of small business entities, the market will counter the inhibiting factors, thus, supporting the industry expansion.
Key Takeaways from the Market Study:
- Market in the U.S to value US$ 568.2 Billion by 2032
- Chinese market to expand at a CAGR of 11.3% from 2022- to 2032
- By end-user, the small business segment is expected to exhibit a CAGR of 10.3% during the assessment period
- The marketplace lending model segment to exhibit a CAGR of 12.9% in the assessment period
- Market in France to garner US% 39.7 Billion by 2032
- S to exhibit a CAGR of 14% from 2022 to 2032
Competitive Landscape
With the help of alternative distribution channels such as online sales, Players in the global peer-to-peer lending market are focusing to enhance their market presence across the globe. Major players in the market include Prosper Marketplace, Inc., LendingClub Corporation, CommonBond Inc., Funding Circle Limited, and Upstart Network Inc. among others.
- In August 2021, CRED, an eminent player in the peer-to-peer lending market rolled out a new peer-to-peer lending platform called CRED Mint. It can be used as a cred-card repayment platform, and it allows members to earn interest on money by lending to other high-earning consumers.
- In January 2021, LendingClub, an eminent peer-to-peer lending market player, announced the acquisition of Radius Bancorp, Inc, and its digital bank subsidiary to expand the revenue of the company.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global peer-to-peer lending market, presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
Key Segments Profiled in the Peer-to-Peer Lending Market Analysis
Peer-to-Peer Lending by End User:
- Peer-to-Peer Lending for Consumer Credit
- Peer-to-Peer Lending for Small Business
- Peer-to-Peer Lending for Student Loans
- Peer-to-Peer Lending for Real Estate
Peer-to-Peer Lending by Business Model:
- Traditional Peer-to-Peer Lending Model
- Marketplace Peer-to-Peer Lending Model
Peer-to-Peer Lending by Region:
- North America Peer-to-Peer Lending Market
- Europe Peer-to-Peer Lending Market
- Asia Pacific Peer-to-Peer Lending Market
- Middle East & Africa Peer-to-Peer Lending Market
- Latin America Peer-to-Peer Lending Market
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