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.
Key Industry Insights & Findings from the report:
- The lending analytics segment is expected to witness the fastest growth during the forecast period. The rising prevalence of alternative lending increased the need to track and analyze loan data points which thereby created the need for lending analytics.
- The managed services segment is expected to witness the fastest growth during the forecast period. The rising adoption of technology and rapidly changing industry trends are expected to increase the demand for managed services.
- The cloud segment is expected to witness the fastest growth during the forecast period as the cloud-based deployment model aids in reducing operational costs and increases efficiency.
- The peer-to-peer lending segment is expected to grow at the fastest CAGR. The increased utilization of internet applications and smartphones is expected to create growth opportunities for the segment growth during the forecast period.
- The Asia Pacific is expected to witness the fastest growth during the forecast period. The rapid technological developments and acceptance of algorithm-based modern credit solutions that can match borrowers with a best-suited lender offered by companies such as Wechat and Lendingkart in China, India, and Japan are the primary factor boosting the growth.
Read 160-page full market research report, “Alternative Lending Platform Market Size, Share & Trends Analysis Report By Solution (Loan Origination, Lending Analytics, Loan Servicing), By Service, By Deployment, By End-use, By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Alternative Lending Platform Market Growth & Trends
In June 2022, HES FinTech, a loan management platform provider, based in Lithuania, collaborated with Nordigen, a transaction analytics platform based in Latvia. This partnership was aimed to revitalize the lending ecosystem in the European markets by delivering integrated and seamless solutions for end-to-end digital lending. They are focused on a technologically advanced approach to making the lending sector more accessible by eliminating the hassle of traveling to offices and signing documents.
Industry incumbents across the globe are focused on customer acquisition by providing attractive products. For instance, in December 2021, Kabbage from American Express launched Kabbage FundingTM, providing flexible lines of credit between USD 1,000 and USD 150,000 to qualified small businesses. Small businesses may apply for loans in minutes with Kabbage Funding to get working capital available around the clock to help them manage their cash flow.
The outbreak of COVID-19 is expected to play a vital role in driving the growth of the market during the forecast period. Although the outbreak took a toll on the lending market, the need for credit, on the other hand, increased as many individuals suffered financial losses. This created unique opportunities for alternative lenders to cater to the vast credit requirement globally.
Alternative Lending Platform Market Segmentation
Grand View Research has segmented the global alternative lending platform market based on solution, service, deployment, end-use, and region.
Alternative Lending Platform Market – Solution Outlook (Revenue, USD Million, 2017 – 2030)
- Loan Origination
- Loan Servicing
- Lending Analytics
- Others
Alternative Lending Platform Market – Service Outlook (Revenue, USD Million, 2017 – 2030)
- Integration & Deployment
- Support & Maintenance
- Training & Consulting
- Managed Services
Alternative Lending Platform Market – Deployment Outlook (Revenue, USD Million, 2017 – 2030)
- On-Premise
- Cloud
Alternative Lending Platform Market – End-use Outlook (Revenue, USD Million, 2017 – 2030)
- Crowdfunding
- Peer-to-Peer Lending
Alternative Lending Platform Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa (MEA)
List of Key Players of the Alternative Lending Platform Market
- Funding Circle
- On Deck Capital.
- Kabbage
- Social Finance, Inc.
- Prosper Funding LLC
- Avant, LLC
- Zopa Bank Limited
- LendingClub Bank
- Upstart Network, Inc.
- CommonBond, Inc.
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.
- 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 25.9% from 2022 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.
- Payday Loans Market – The global payday loans market size is anticipated to reach USD 6.8 billion by 2030, registering a CAGR of 3.8% during the forecast period, according to a new report by Grand View Research, Inc. Demand for payday loans is likely to grow owing to advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), and analytics being adopted by payday lenders.
Browse through Grand View Research’s Next Generation Technologies Industry 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.
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