DUBLIN--(BUSINESS WIRE)--The "Digital Lending Platform Market Size, Share & Trends Analysis Report by Solution, by Service, by Deployment, by End-use, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global digital lending platform market size is expected to reach USD 44.50 billion by 2030, registering a CAGR of 25.9%
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.
The funding raised by the digital lending providers worldwide is also one of the major factors expected to drive market growth. For instance, in April 2021, Auxmoney, a digital lending platform provider, announced that it raised USD 271.4 million. The company uses this funding to enhance its digital lending platform for consumer credit.
Furthermore, companies operating in the digital lending space are focused on partnerships to enhance their offerings and market position. For instance, in April 2022, the two fintech companies, UI Enlyte and Exaloan, announced that they are launching a strategic corporation. Through this initiative, the companies will link their platforms for digital assets and lending.
The COVID-19 pandemic had a positive impact on market growth. The established digital lenders adopted new partnerships to cater to the borrower's funding demand amid the COVID 19 pandemic. At the same time, efforts taken by the banks to digitalize their process due to the pandemic also paved to be one of the major factors driving the market growth.
Digital Lending Platform Market Report Highlights
- The lending analytics segment is anticipated to register the highest CAGR during the forecast period. The benefits provided by the lending analytics solution, such as reduced operation risk, labor hours, operational cost, and others, are driving the segment.
- The risk assessment segment is anticipated to register the highest CAGR from 2022 to 2030. The strong emphasis financial institutions are putting on ensuring proactive responses to various cyber threats and resuming normalcy in the event of a cyberattack is expected to drive the growth of the risk assessment segment.
- The cloud segment is expected to register the highest CAGR during the forecast period. Cloud deployment helps in reducing up-front costs, particularly for new entrants contemplating a foray into the lending business.
- The peer-to-peer lending segment is expected to emerge as the fastest-growing end-use segment during the forecast period. The adoption of digital lending platforms is expected to gain traction as the digitally savvy consumer base continues to expand.
- North America accounted for the largest share of the market in 2021. The region is home to a large number of technology providers and hence provides immense opportunities for the adoption of digital lending platforms.
Digital Lending Platform Market Dynamics
Market driver analysis
- Increasing adoption of digital channels to improve customer experience
- Rising adoption of machine learning, blockchain, and AI-based digital lending platforms and solutions
Market challenge analysis
- Data privacy and security concerns
Competitive Landscape
- Ellie Mae, Inc.
- FIS
- Fiserv, Inc.
- Newgen Software
- Nucleus Software
- Pegasystems Inc.
- Roostify
- Sigma Infosolutions
- Tavant
- Wizni, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qz2k0p
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