Peer-to-peer Lending Apps Market Global Analysis 2019

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Market Insights

The global peer-to-peer lending Apps/Software market is highly driven by the paradigm shift in the financial sector. The growing finance model of crowdfunding and marketplace lending is drastically reshaping the financial industry across the globe. This change has led to the development and launch of new and innovative products that provide the financial institutes with alternative financing models, ranging from marketplace lending, P2P lending to equity crowdfunding. A large number of information technology companies are designing new solutions to address the needs of this technology-based financial sector. This paradigm shift in the financial sector is the major factor driving the demand for peer-to-peer lending apps and software. Furthermore, the growing demand for virtual money and virtual financial transactions also fuels the growth of peer-to-peer lending apps and software market across the globe. Moreover, the increasing number of P2P lenders and availability of easy transaction platforms also facilitates the growth this market. 

Though this is a lucrative market segment, risk of losing the money, threat of false doing, lack of awareness of p2p lending benefits among general population and higher government limitations are the factors restraining the growth of this market during the forecast period. 

Based on deployment model, the peer-to-peer lending Apps/Software market is segmented into cloud based and on-premise models. The cloud based model is expected to witness high growth during the forecast period. Increasing adoption of cloud-based model in financial industry, growing number of cloud lenders, and advantages provided by cloud-based peer-to-peer lending software such as reduction in approval time from hours to minutes are expected to drive the growth of this market during the forecast period. Based on the geography, North America dominates the peer to peer lending Apps/Software market based on the factors such as increasing number of new product developments and growing investments in technological advancements and improving financial sector in this region. 

Additionally, growing adoption of virtual money and virtual transaction methods is also contributing to the extraordinary market share. Though developed regions have a high market share, emerging market offer substantial growth opportunities to the players operating locally or internationally. Based on the growing demand for advanced technologies, government support to adopt digital tools for financial transactions and expansion of international players in this region, emerging countries are offering significant growth opportunities to the players. Moreover, local companies in this region are attracting much investment to develop and deploy peer-to-peer lending apps and software to local and international customers. 

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Some of the major companies profiled in the report include Turnkey Lender, AIS Technolabs, Profile Software, Lending Software, Ahsan Technologies, HiEnd Systems, Lending Club, AIS Technolabs, Habile Technologies, and SoFi among others.

According to a new market research report published by Acute Market Reports “Global Peer-to-peer Lending Apps Market (Component (Software, Services) Deployment Model (Cloud, On-premise), Business Model (Alternate Marketplace Lending, Traditional Lending)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall peer-to-peer lending Apps/Software market worldwide is set to grow with a CAGR of more than 52% during the forecast period from 2019 to 2027.