2018 Digitization in the Global Lending Market by Loan Type and Deployment: Analysis & Forecast Through 2016-2025 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 14, 2018--The “Digitization in Lending Market by Loan Type; by Deployment: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016- 2025” report has been added to ResearchAndMarkets.com’s offering.
The global digitization in lending market was valued at around USD 1,790 billion in the year 2016 and it is expected to reach approximately USD 83,460 billion by 2025. The global digitization in lending market is expected to grow at a CAGR of over 53% between 2017 and 2025.
The digitalization in banking industry is the key factor driving the growth of digitization in lending market. Across the various aspects of business, digitalization is the reason for sweeping and large-scale transformations. The digitalization in banking industry also provides unparalleled opportunities for value capture and creation. Business leaders across all the sectors are adopting with the strategic implications of these transformations for their organizations and industry ecosystems.
Digitization allows lenders to more effectively target their customers with appropriately timed offers. Digital lending automates complex processes and reduces manual interferences owing to which its demand is increasing. In the coming years, there will be an increasing adoption of digital lending.
The lack of interoperability and standards may negatively affect the growth of digitization in lending market.
The business loan segment accounted for a major market share of around USD 980 million in the digitization in lending market in 2017. The growing number of small- and mid-sized business globally and the ease in the process of lending are factors driving the business loan segment in the global digitization in lending market.
The personal loans segment is expected to grow at CAGR of 53.3% during the forecast period. The flexible process for personal loans through digitalized lending is expected to propel the growth of segment in the digitization in lending market over the forecast period.
DriversRising Adoption of Digital Lending Digitalization in the Banking Industry
RestraintsLack of Interoperability and Privacy Issues
OpportunitiesDigital Channels Improve the Customer Experience
Key Topics Covered
2. Executive Summary
3. Digitization in Lending - Market Dynamics
4. Global Digitization in Lending market - Competitive Landscape
5. Global Digitization in Lending market - Loan type Segment Analysis
6. Global Digitization in Lending market - Deployment Segment Analysis
7. Global Digitization in Lending market - Regional Segment Analysis
8. Company ProfilesRise Credit FirstCash, Inc. Speedy Cash LendUp Elevate NetCredit Avant, Inc. Opportunity Financial, LLC Prosper Marketplace, Inc. The Business Backer LLC Headway Capital Partners LLP Blue Vine Lendio RapidAdvance Amigo Loans Ltd. Lendico Trigg Lending Stream 118118Money Simplic Wonga Group Check’n’Go Inc. OnDeck Kabbage, Inc. Fundation Group LLC
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Related Topics:Credit and Loans
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING
SOURCE: Research and Markets
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PUB: 12/14/2018 05:44 AM/DISC: 12/14/2018 05:44 AM