Global Peer-to-Peer Lending Market to Benefit from Tightening Bank Norms, to Reach US$897.85 Bn by 2024

Albany, NY -- (SBWire) -- 08/02/2016 --According to a new market report published by Transparency Market Research (www.transparencymarketresearch.com) entitled, "Peer-to-Peer Lending Market (End User – Consumer Credit, Small Business, Student Loans and Real Estate; Business Model –Traditional P2P Model and Marketplace Lending Model) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2024," the global peer-to-peer lending market was worth US$26.16 bn in 2015 and is expected to reach US$897.85 bn by 2024, expanding at a CAGR of 48.2% from 2016 to 2024

P2P lending allows borrowers to lend money to individuals, small businesses, and large investors at a lower interest rate than traditional financial institutions. It has also empowered investors to earn higher returns on their investment by balancing the risk. By allowing access to easy loans and additional credit to numerous small and medium-sized businesses, P2P lending has made significant contributions to the economic growth of many countries. It has also made money lending more efficient than possible for conventional financial organizations and saved operational costs by operating through online platforms. The peer-to-peer business is supplying credit to individual to small businesses and start-ups while allowing diverse and transparent ways for consumers to invest or borrow money, thus fostering innovation.

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In 2015, North America was leading the peer-to-peer lending market capturing majority of market share. The region is expected to dominate the global peer-to-peer lending market throughout the forecast period. North America's peer-to-peer lending market is predominantly driven and dominated by the U.S. The financial crisis has resulted in tightened banking norms, which has acted as a growth driver for the peer-to-peer lending market in the last four to five years. Other factors, such as declining consumer loyalty toward traditional financing institutions, growing comfort with online platforms, and a favorable regulatory environment have fostered the U.S. peer-to-peer lending market.

In Europe too, peer-to-peer lending has emerged as the biggest segment of the alternative finance market. The availability of bank loans has not improved since the financial crisis of 2008 and access to finance is one of the most serious challenges faced by the region's small businesses. This has resulted in the rapid development of the peer-to-peer lending market in Europe.

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In 2015, China's peer-to-peer lending platforms have facilitated loans in the billions to consumers, start-ups, small businesses, and community projects. This has allowed China to dominate the Asia Pacific peer-to-peer lending market, occupying the majority of its market revenue. It is anticipated to hold its leading position throughout the forecast period, considering the huge base of small and medium-sized businesses and the current fall in economic growth. Other counties, such as Australia, Japan, and India, are anticipated to witness a significant growth and emerge as attractive markets in Rest of the Asia Pacific

The major players in the global peer-to-peer lending market include LendingClub Corporation, Prosper Marketplace, Inc., CommonBond Inc., Upstart Network Inc., Funding Circle Limited, CircleBack Lending, Inc., Peerform, Social Finance Inc., Pave, Inc., and Daric Inc.

The global peer-to-peer lending market is segmented as follows:

Market Segmentation:

Global Peer-to-Peer Lending Market Analysis, By End-User, 2014 – 2024 (US$ Bn)

Consumer Credit
Small Business
Student Loans
Real Estate

Global Peer-to-Peer Lending Market Analysis, By Business Model, 2014 – 2024 (US$ Bn)

Traditional P2P Model
Marketplace Lending Model

In addition, the report provides cross-sectional analysis of the peer-to-peer market with respect to the following geographical segments along with select country market estimates:

North America
The U.S.
Rest of North America

Europe
The U.K.
France
Germany
Rest of Europe

Asia-Pacific
China
Australia
Rest of Asia Pacific

Rest of the World
Middle East and Africa (MEA)
Latin America