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Peer-to-Peer (P2P) Lending Global Market Report 2022: Ukraine-Russia War Impact

Peer-to-Peer (P2P) Lending Global Market Report 2022: Ukraine-Russia War Impact

  • November 2022
  • 175 pages
  • ID: 6368693
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the peer-to-peer (p2p) lending market are Avant LLC., Funding Circle, Kabbage Inc., Lending Club Corporation, LendingTree LLC, OnDeck, Prosper Funding LLC, CircleBack Lending Inc., Social Finance Inc, Zopa Bank Limited, Upstart Network Inc., Commonbond Inc., Retail Money Market Ltd., and Peerform.

The global peer-to-peer (P2P) lending market is expected to decline from $80.19 billion in 2021 to $106.09 billion in 2022 at a compound annual growth rate (CAGR) of 32.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The peer-to-peer (P2P) lending market is expected to reach $302.49 billion in 2026 at a CAGR of 29.9%.

The peer-to-peer (P2P) lending market consists of sales of peer-to-peer lending services offered by entities (organizations, sole traders, and partnerships) that are used to connect investors wanting higher returns on their investments with verified borrowers seeking unsecured personal loans.Peer-to-peer lending (P2P) refers to a method of lending money directly to individuals or businesses without the use of an official financial institution as a middleman.

P2P lending is typically done through internet platforms that connect potential borrowers with lenders.

The main types of loans in peer-to-peer (P2P) lending are consumer credit loans, small business loans, student loans, and real estate loans.The traditional lending model refers to a traditional mode of transaction that is used for purchasing or selling goods or services from one person to another without using the internet.

It refers to an older method of business style and comes under a traditional business that includes direct interaction between seller and buyer and is carried out by face-to-face, telephone lines, or mail systems. The two types of business models include traditional lending and alternate marketplace lending that are provided to end-users such as businesses and individuals.

North America was the largest region in the peer-to-peer (P2P) lending market in 2021.Aisa-Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the peer-to-peer (p2p) lending market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing digitization in the banking industry is expected to propel the growth of the peer-to-peer lending market going forward.Digital innovation in the banking industry is transforming financial services such as mobile money, peer-to-peer (P2P), or marketplace lending.

For instance, in January 2022, according to a report shared by European Banking Supervision, a regulatory body established to maintain financial stability throughout the European Union’s (EU) banking industry, the number of digital users has climbed by 23% since the beginning of the pandemic. Therefore, the increasing digitization in the banking industry is driving the growth of the peer-to-peer lending market.

The emergence of decentralized P2P mobile browsers is a key trend gaining popularity in the peer-to-peer lending market.Major companies operating in the peer-to-peer (P2P) lending market are adopting decentralized P2P mobile browsers to increase their market share.

For instance, in March 2022, eQualitie, a Canadian digital security organization, launched CENO, the world’s first decentralized P2P mobile browser, built particularly to avoid the censoring techniques used today.It also permits access in areas where connectivity has been disrupted.

Although using CENO is similar to using a conventional mobile browser, it runs more reliably than other browsers because it uses a peer-to-peer (P2P) network and the open-source Ouinet library and BitTorrent protocols. The online content cannot be forcibly deleted by outside agents because it is decentralized via peer-to-peer routing.

In August 2020, Metro Bank, a UK-based retail banking company, acquired peer-to-peer lender RateSetter for $15.06 million. The acquisition would enable Metro Bank to achieve its goal of boosting unsecured lending and, profitability. RateSetter is a UK-based loan provider and a prominent P2P lending network that allows users to lend and borrow money directly from one another based on their own interest rates.

The countries covered in the peer-to-peer (p2p) lending market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The peer-to-peer (P2P) lending market research report is one of a series of new reports that provides peer-to-peer (P2P) lending market statistics, including peer-to-peer (P2P) lending industry global market size, regional shares, competitors with a peer-to-peer (P2P) lending market share, detailed peer-to-peer (P2P) lending market segments, market trends and opportunities, and any further data you may need to thrive in the peer-to-peer (P2P) lending industry. This peer-to-peer (P2P) lending market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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