Digital Lending Platform Market Is Projected to Gain $20.31 Billion by 2027, Growing at a 16.7% CAGR: Allied Market Research
The global digital lending platform market is experiencing significant growth due to organizations increasingly emphasizing the digitization of their financial services, the transition from traditional to digital lending, and an increase in governmentactions to promote digital lending platforms.By region, the market acrossAsia-Pacific wouldexhibitthe fastest CAGR during the forecasttimeframe.
Wilmington, Delaware, Nov. 08, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global digital lending platform market size was valued at $5.58 billion in 2019, and is projected to reach $20.31 billion by 2027, growing at a CAGR of 16.7% from 2020 to 2027. The report offers a detailed analysis of recent market trends, key investment pockets, top segments, regional analysis, and competitive scenarios. The report is a good source of information for new competitors, leading market players, investors, and shareholders to plan and take steps to bolster their competitive edge.
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133 – Tables
74 – Charts
249 – Pages
Report Coverage & Details:
|Market Size in 2019||$5.58 Billion|
|Market Size in 2027||$20.31 Billion|
|No. of Pages in Report||249|
|Segments Covered||Component, Deployment Model, Type, Industry Vertical, And Region|
|Drivers||organizations increasingly emphasizing the digitization of their financial services|
|The transition from traditional to digital lending|
|An increase in government actions to promote digital lending platforms|
|Opportunities||Technological development in digital lending platforms|
|The rise in the demand for integrated cloud-based products|
|Restraints||An increase in security and compliance concerns|
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The global digital lending platform market is grouped into various segments based on component, deployment model, type, industry vertical, and region. It is offered in both graphical and tabular form, permitting an individual or a business to benefit perception into the highly profitable and rapidly expanding segments.
The software segment to maintain its lead position during the forecast period-
Based on component, the software segment held the major share in 2019, holding nearly three-fourths of the global digital lending platform market revenue, and is expected to maintain its leadership status over the projected period. On the other hand, the service segment would cite the fastest CAGR of 19.7% from 2020 to 2027.
The on-premise segment to lead the trail by 2022-
Based on deployment model, the on-premise segment dominates the significant market share in 2019, accounting for nearly three-fifths of the global digital lending platform market revenue, and is anticipated to maintain its lead position during the forecast period. The cloud segment, however, would display the fastest CAGR of 18.1% from 2020 to 2027.
The peer-to-peer lending segment would showcase the highest CAGR from 2020 to 2027–
Based on industry vertical, the banks segment held the major market share in 2019, contributing to nearly one-third of the global digital lending platform market revenue, and is projected to rule the roost by 2027. On the other hand, the peer-to-peer lending segment would showcase the highest CAGR of 20.1% from 2020 to 2027. The insurance companies, credit unions, savings & loan associations, and others segments are also analyzed in the report.
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North America region garnered the major share in 2019-
Based on region, the market across North America held the largest market share in 2019, garnering more than one-third of the global digital lending platform market revenue, and is expected to lead the trail by 2027. On the other hand, the market across the Asia-Pacific region would exhibit the fastest CAGR of 18.0% from 2020 to 2027. The Europe and LAMEA provinces are also studied in the report.
The report also provides an in-depth analysis of the top players in the global digital lending platform market include NUCLEUS SOFTWARE EXPORTS LTD., TAVANT, BLACK KNIGHT, INC., ELLIE MAE, INC. (ACQUIRED BY INTERCONTINENTAL EXCHANGE, INC.), WIPRO LIMITED, FINASTRA, FIS, TEMENOS, FISERV, INC., and INTELLECT DESIGN ARENA LTD.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of global digital lending platform market forecast along with current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global digital lending platform market trends is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the digital lending platform market share from 2020 to 2027 is provided to determine the market potential.
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Digital Lending Platform Market Key Segments:
By Deployment Model
- Loan Origination
- Decision Automation
- Collections and Recovery
- Risk and Compliance Management
By Industry Verticle
- Insurance Companies
- Credit Unions
- Savings & Loan Associations
- Peer-to-Peer Lending
- NORTH AMERICA (US, CANADA)
- EUROPE (UK, GERMANY, FRANCE, RUSSIA, REST OF EUROPE)
- ASIA-PACIFIC (CHINA, JAPAN, INDIA, SOUTHEAST ASIA, REST OF ASIA-PACIFIC)
- LAMEA (LATIN AMERICA, MIDDLE EAST, AFRICA)
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