Global digital lending market is expected to grow at a formidable rate during the forecast period. The global digital lending market is driven by the increasing penetration of various organizations including banks, credit unions, among others which provide this service. Additionally, growing popularity of peer-to-peer lending is further expected to propel the market growth through 2026. Furthermore, technological advancements and incorporation of these technologies such as AI, machine learning, virtual reality, augmented reality, blockchain, among others in digital lending platforms is expected to create lucrative opportunities for market growth over the next few years. Besides, growing focus on enhancing customer experience and overall customer satisfaction by financial institutions is further expected to fuel the market growth. However, lack of digitization especially in the emerging world can hamper the market growth through 2026. Also, high customer dependency and trust over conventional methods of lending can further restrict the market growth. Moreover, data security, integrity and protection issues can further pose a challenge to the market growth.
The global digital lending market is segmented based on component, deployment mode, business model, end users, company and region. Based on deployment mode, the market can be split into on-premise and cloud. The on-premise segment is expected to dominate the market on account of the increasing incidences of cyber-attacks and data breaches among the financial institutions. Based on end users, the market can be categorized into BFSI, insurance, credit unions, peer-to-peer lenders, retail banking and others. The peer-to-peer lenders segment is expected to register the highest growth in the market owing to the simplicity of this lending procedure and ease of transactions associated with it. Additionally, widespread adoption of this lending technique among the large enterprises and SMEs further drive the segmental growth.
Regionally, the digital lending market has been segmented into various regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is expected to dominate the overall digital lending market owing to the early adoption of digital lending solutions in the region. Additionally, presence of a wide range of lenders in the region further drive the market growth. While, Asia Pacific region is expected to witness the highest growth in the market owing to the supportive government policies for promoting digitalization across banking sector especially in countries like India, China and Singapore.
The major players operating in the digital lending market are Fiserv, Newgen Software, Ellie Mae, Nucleus Software, FIS, Pegasystems, Temenos, Intellect Design Arena, Sigma Infosolutions, Tavant Technologies and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Objective of the Study:
- To analyze and estimate the market size of global digital lending market from 2016 to 2019.
- To estimate and forecast the market size of global digital lending market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast global digital lending market based on component, deployment mode, business model, end users, company and regional distribution.
- To identify dominant region or segment in the global digital lending market.
- To identify drivers and challenges for global digital lending market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global digital lending market.
- To identify and analyze the profile of leading players operating in global digital lending market.
- To identify key sustainable strategies adopted by market players in global digital lending market.
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Key Target Audience:
- Digital lending service provider companies
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to digital lending
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, global digital lending market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Global Digital Lending Market, By Component:
- Solution
- Loan Origination
- Decision Automation
- Portfolio Management
- Loan Servicing
- Risk and Compliance Management
- Loan Management
- Business Process Management
- Others
- Service
- Professional
- Managed
- Solution
- Global Digital Lending Market, By Deployment Mode:
- On-Premise
- Cloud
- Global Digital Lending Market, By Business Model:
- Customer Driven
- Staff Driven
- Global Digital Lending Market, By End Users:
- BFSI
- Insurance
- Credit Unions
- Peer-to-Peer Lenders
- Retail Banking
- Others
- Global Digital Lending Market, By Region:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global digital lending market.
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