Fintech PR
Peer-to-Peer Lending Market to Hit $21.42 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, Aug. 28, 2023 /PRNewswire/ — The global peer-to-peer lending market size is expected to reach USD 21.42 billion by 2030, growing at a CAGR of 20.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Changing consumer preferences and attitudes toward borrowing and investing have propelled the growth of the peer-to-peer (P2P) lending market. Many individuals prefer borrowing directly from peers or investing in loans that align with their goals. P2P lending allows borrowers and lenders to connect on a more personal level, fostering a sense of community and trust that may be lacking in traditional lending channels.
Key Industry Insights & Findings from the report:
- Based on type, the consumer lending segment dominated the market in 2022 with a revenue share of 59.14%. P2P lending offers consumers an appealing choice for accessing affordable loans by providing a combination of lower interest rates and efficient operations
- In terms of loan type, the unsecured segment dominated the market in 2022 with a revenue share of 65.08%. P2P lending platforms leverage sophisticated algorithms and data analytics to evaluate borrower creditworthiness, enabling them to manage and mitigate risks associated with unsecured loans effectively
- Based on end-user, the business loans segment is anticipated to register the fastest CAGR of 22.3% over the forecast period. P2P lending platforms often have more flexible eligibility criteria and are willing to consider alternative factors beyond traditional credit scores when assessing the creditworthiness of businesses
- In terms of purpose type, the home renovation segment is anticipated to register the fastest CAGR of 22.3% during the forecast period. P2P lending platforms attract a diverse pool of investors willing to fund home renovation projects. These investors may be individuals looking to diversify their investment portfolios or those interested in supporting home improvement initiatives
- North America dominated the market in 2022 with a revenue share of 30.24%. The presence of established and reputable P2P lending platforms in the region has also built trust among borrowers and investors, contributing to North America’s dominance in the market
Read 120 page market research report, “Peer-to-Peer Lending Market Size, Share & Trends Analysis Report By Type (Consumer Lending, Business Lending), By Loan Type (Secured, Unsecured), By End-user, By Purpose Type, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Peer-to-Peer Lending Market Growth & Trends
In June 2023, PeerBerry, a European peer-to-peer lending platform, achieved a significant milestone by surpassing 70,000 investors. The platform experienced substantial growth in May, generating increased interest from investors. In addition to its core platform, PeerBerry has also been promoting its sister platform, Crowdpear, which has the same shareholders. Crowdpear has attracted approximately 2,500 international investors, further expanding the reach of the PeerBerry brand and its investment opportunities.
P2P lending platforms leverage digital technologies to create a transparent and efficient lending ecosystem. Through online platforms, borrowers can easily access information about loan terms, interest rates, and fees, enabling them to make informed decisions. Similarly, investors can access detailed borrower profiles and loan information, empowering them to evaluate and select investment opportunities that align with their risk appetite. This transparency fosters trust between borrowers and investors and contributes to the overall growth and credibility of the P2P lending market.
The COVID-19 pandemic has catalyzed the rapid growth and acceptance of the P2P lending market. As physical branches and in-person interactions became limited, borrowers and investors increasingly embraced P2P lending as a convenient and efficient alternative. The digital nature of P2P lending platforms provided a seamless experience, allowing borrowers to access funds, and investors to diversify their portfolios, without needing a physical presence.
Peer-to-Peer Lending Market Report Scope
|
Attribute |
Details |
|
Market size value in 2023  |
USD 5.91 billion |
|
Revenue forecast in 2030 |
USD 21.42 billion |
|
Growth rate |
CAGR of 20.2% from 2023 to 2030 |
|
Base year of estimation |
2022 |
|
Historical data |
2017 – 2021 |
|
Forecast period |
2023 – 2030 |
Peer-to-Peer Lending Market Segmentation
Grand View Research has segmented the global peer-to-peer lending market based on type, loan type, end-user, purpose type, and region:
Peer-to-Peer Lending Market – Type Outlook (Revenue, USD Billion, 2017 – 2030)
- Consumer Lending
- Business Lending
Peer-to-Peer Lending Market – Loan Type Outlook (Revenue, USD Billion, 2017 – 2030)
- Secured
- Unsecured
Peer-to-Peer Lending Market – End-user Outlook (Revenue, USD Billion, 2017 – 2030)
- Non Business Loans
- Business Loans
Peer-to-Peer Lending Market – Purpose Type Outlook (Revenue, USD Billion, 2017 – 2030)
- Repaying Bank Debt
- Credit Card Recycling
- Education
- Home Renovation
- Buying Car
- Family Celebration
- Others
Peer-to-Peer Lending Market – Regional Outlook (Revenue, USD Billion, 2017 – 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Asia Pacific
- Indonesia
- India
- Japan
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Israel
- South Africa
- UAE
List of Key Players in the Peer-to-Peer Lending Market
- LendingClub Bank
- Lendermarket
- Prosper Funding LLC
- Proplend
- PeerBerry
- Upstart Network, Inc.
- RateSetter
- StreetShares, Inc.
- Bondora Capital OÜ
- AS Mintos Marketplace
- Landbay Partners Limited
Check out more related studies published by Grand View Research:
- Micro Lending Market – The global micro lending market size is expected to reach USD 86.82 billion by 2030, growing at a CAGR of 13.4% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growth is anticipated to be driven by several advantages offered by micro lending to the loan providers, such as the easy accessibility to offer loans within and aboard the country and earning more interest rates compared to the traditional fixed deposit and other investments. Furthermore, the growing demand for micro lending by individuals through peer-to-peer lending platforms is another major factor driving the market’s growth.
- Digital Lending Platform Market – 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.
- Alternative Lending Platform Market – The global alternative lending platform market size is expected to reach USD 14.47 billion by 2030, growing at a CAGR of 23.6% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growing integration of technology in the financial sector worldwide is anticipated to drive the growth. The strong emphasis by market players on offering enhanced lending solutions to revolutionize the financing ecosystem also bodes well for the development of the industry.
Browse through Grand View Research’s Next Generation Technologies Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
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Fintech PR
Acceleration of global marketing collaboration between Milk Partners, AirAsia rewards, and The Sandbox
– Milk Partners, AirAsia rewards and The Sandbox are collaborating to provide a new experience allowing users to earn real-world value through the metaverse gaming platform
– Launching metaverse game project ‘MiL.k X BIGGIE Wonderverse’ offering SAND Tokens, Milk Coins and AirAsia points
– “MiL.k is committed to continuously expanding its blockchain ecosystem through strategic partnerships with global partners.”
SEOUL, South Korea, Oct. 23, 2024 /PRNewswire/ — Milk Partners has announced a collaboration with The Sandbox, the global metaverse platform, and AirAsia rewards, the loyalty program of Asia’s leading online travel agency (OTA), AirAsia MOVE. This partnership is set to offer global users an immersive Web3 experience where they can earn rewards with real-world value through engaging in a metaverse-based game.
The newly launched ‘MiL.k X BIGGIE Wonderverse’ metaverse game allows users to earn Sand Tokens, Milk Coins, and AirAsia points. The game is inspired by BIGGIE, the mascot of AirAsia rewards, and modeled after the BIGGIE Wonderland mini-game in the AirAsia MOVE app. Users need to first complete tasks by collecting Milk Coins (symbolized game assets) in the Sandbox metaverse, which can be exchanged for other game assets such as virtual AirAsia points, virtual passports, and virtual boarding passes. Once all tasks are completed, users will then be rewarded with Milk Coins, Sand Tokens, and AirAsia points.
This collaboration has been based on MiL.k’s reliability and strong global network, which has steadily expanded partnerships with major global companies and has become an innovative model for the industry.
This collaboration is part of MiL.k’s broader strategy to expand its blockchain-based loyalty ecosystem, which already includes partnerships with SK OK Cashbag, Lotte L.Point, CU, Megabox, Yanolja, and others. AirAsia rewards operates a comprehensive loyalty platform for the AirAsia group, enhancing its travel and lifestyle businesses, including airlines, online travel agent (OTA), logistics, aviation services, e-commerce, financial services, and more. The Sandbox, a global metaverse platform with over 6 million users, offers a unique space for creating games and generating revenue. Together, AirAsia rewards and The Sandbox will further expand MiL.k’s ecosystem through global partnerships.
The CEO of Milk Partners, Jungmin Cho said “Following our successful collaboration event with CU, we are happy to announce the next event with AirAsia rewards. Through this partnership, for partners, we are providing a new marketing channel on metaverse and for users, we are expecting to share the fun experience and real benefits.” He added, “We will continue to explore various opportunities with global partners across diverse industries.”
In June, MiL.k introduced a metaverse experience ‘Play CUX MiL.k’ with CU and The Sandbox, offering users an engaging new way to explore blockchain and the metaverse. MiL.k is committed to continuously expanding its global partnerships to provide more exciting experiences for global users.
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Fintech PR
H&M Foundation: Global Change Award 2025 launched – with a mission to accelerate innovation for a net-zero textile industry by 2050
STOCKHOLM, Oct. 23, 2024 /PRNewswire/ — The H&M Foundation today announces a significant shift in its overall strategic direction, focus on supporting the textile industry in halving its greenhouse gas emissions every decade by 2050, while promoting a just and fair transition for both people and the planet. The innovation challenge Global Change Award 2025 (GCA) is the first initiative to reflect this shift.
GCA is now seeking innovative ideas addressing different high emission areas across the textile industry value chain, including sustainable materials and processes, responsible production, mindful consumption, and ‘wildcards’ that support the GCA purpose. Today, only a fraction of philanthropic capital is directed to climate.
“The textile industry needs all hands-on deck if we are going to meet our climate goals by 2050, and we must ensure this transition is fair for everyone. I really believe that innovation is key to decarbonising the industry, and that the Global Change Award can play a role in identifying and growing future changemakers whose ideas can have a transformative impact if given the right support,” says Karl-Johan Persson, Board Member of the H&M Foundation.
Since GCA launched in 2015, 46 innovations have received support and a combined grant of 8 million euros. While it continues to award 10 winners every year, with each receiving 200,000 EUR, there are other key updates to the GCA:
- New focus area – decarbonising the textile industry.
- Holistic approach – equipping changemakers with a holistic people and planet mindset.
- Wider range of changemakers – switching to a nomination-based process, instead of an open application system.
- Systems change approach – equipping changemakers to consider the entire textile value chain and its interconnectedness while also considering the impact on people.
“While the industry is hungry for innovation, the holistic perspective to decarbonisation is often lacking, and the critical early stages of an innovator’s journey overlooked – this is where philanthropy can make a real difference”, says Annie Lindmark, Programme Director for Innovation at the H&M Foundation.
In addition to financial support, winners will gain access to a powerful network of mentors, collaborators, and industry leaders to help bring their solutions to life. Together with partners Accenture and KTH Royal Institute of Technology, H&M Foundation will invite the winners to participate in a yearlong, tailormade Changemaker Programme. The Global Change Award 2025 winners will be announced in April 2025.
CONTACT: Jasmina Sofić, Media Relations Responsible, +4673 465 59 59
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Exclusive tech event will convene business leaders, investors and thought leaders in 2025
LAGUNA BEACH, Calif., Oct. 22, 2024 /PRNewswire/ — Dow Jones announced today the expansion of WSJ Tech Live through a multi-year agreement that will bring the marquee event to the State of Qatar starting next year. Appearing on stage at this year’s event in Laguna Beach, Calif., Sheikh Jassim bin Mansour bin Jabor Al Thani, Director of the Government Communications Office of the State of Qatar, and Almar Latour, publisher of The Wall Street Journal and CEO of Dow Jones, jointly announced that WSJ Tech Live Qatar will debut in late 2025 and take place annually for five years.
This marks the first time WSJ’s most exclusive tech event will be held in the Middle East. The invitation-only conference will bring together an audience of over 200 C-suite executives, investors, innovative startups and influential venture capitalists from across the world. Dow Jones will continue to operate WSJ Tech Live annually in California while adding WSJ Tech Live Qatar to the calendar starting in December 2025.
Sheikh Jassim highlighted that the conference aligns with Qatar’s vision to become a global hub for advanced technology and innovation, as outlined in the Third National Development Strategy and Qatar National Vision 2030.
“Hosting WSJ Tech Live marks another significant step in the growth of Qatar’s technology ecosystem,” said Sheikh Jassim. “When the world’s top tech leaders gather in Qatar, it will create an unparalleled opportunity to benefit from their diverse expertise, insights and global networks. This will inspire local talent, attract international investment, and create avenues for strategic global partnerships that propel our development journey forward.”
“Dow Jones and The Wall Street Journal deliver reliable journalism, data, and analytics to business professionals worldwide, and to do so we must reflect the entire global business community,” said Latour. “With the MENA region’s growth and increased role in tech–especially at the intersection of AI and the energy sector–we are delighted to be partnering with Qatar.”
Currently in its 11th year, WSJ Tech Live convenes the biggest newsmakers in technology across entertainment, music, robotics and AI, science and more. This year’s marquee event is the company’s most successful Tech Live since its inception, with record-breaking sponsorship revenue. The event showcased groundbreaking insights on a wide range of topics including the global impact of generative AI, the future of brain-computer interfaces, the outlook for startup investments, fostering the next generation of technology talent and how the upcoming U.S. election could impact the tech industry.
WSJ Tech Live joins a series of global events hosted in Qatar, including the FIFA World Cup™, Web Summit Qatar, Formula 1 Qatar Grand Prix, and Doha Forum. The event also builds on Dow Jones’s existing presence in MENA, which serves as an important hub for reporting from The Wall Street Journal, and home to key sales and services functions.
About Dow Jones
Dow Jones is a global provider of news and business information, delivering content to consumers and organizations around the world across multiple formats, including print, digital, mobile and live events. Dow Jones has produced unrivaled quality content for more than 130 years and today has one of the world’s largest news-gathering operations globally. It is home to leading publications and products including the flagship Wall Street Journal, America’s largest newspaper by paid circulation; Barron’s, MarketWatch, Mansion Global, Financial News, Investor’s Business Daily, Factiva, Dow Jones Risk & Compliance, Dow Jones Newswires, OPIS and Chemical Market Analytics. Dow Jones is a division of News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV).
About the Government Communications Office of the State of Qatar
The Government Communications Office was established in 2015 to serve as the strategic communications arm of the State of Qatar. It coordinates communications activities across government and public-sector institutions, showcasing the country’s vision, initiatives and achievements in line with the Qatar National Vision 2030.
View original content:https://www.prnewswire.co.uk/news-releases/dow-jones-to-expand-wsj-tech-live-event-to-qatar-302283664.html
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