Digital Lending Platform Market Analysis, Size, Growth, Share & Forecast to 2026 | Grand View Research Inc.
“Digital Lending Platform Market Size Worth $15.3 Billion By 2026�
The global digital lending platform market size is expected to reach USD 15.3 billion by 2026, registering a CAGR of 20.7% from 2019 to 2026, according to a new report by Grand View Research, Inc. Digitization has been the most widely adopted strategy in financial institutions to improve their core processing competencies and to offer enhanced consumer services and insights. Digitization in financing services is helping the financial institutions and their customers in rapid application and disbursement process as well as in making better loan management decisions. The increasing focus of financial institutions on digitalizing their services to achieve business efficiency and better outcomes is further anticipated to contribute to the market growth. Increasing government initiatives to promote the digital platform among businesses is expected to drive the market over the forecast period. For instance, in November 2018, the Government of India launched a digital lending platform for Micro, Small, and Medium Enterprises (MSMEs) in India. The platform allows MSMEs to apply for a loan up to USD 10 million within 59 minutes. Furthermore, the regulators in economies, such as the U.S., Singapore, U.K., Hong Kong, and Australia, have created sandboxes to support innovations in the financial sector. Such measures taken by regulators across the globe have boosted the market growth. The emergence of innovative technologies such as blockchain, Machine Learning (ML), Artificial Intelligence (AI), and robotic process automation is helping financial institutions to enhance the security of customer data and make the paperless loan processing transparent. The innovations in digital lending have revolutionized businesses in the financial sector and helped end-use industries such as banks, credit unions, and insurance companies to streamline their processes and improve the quality of their services. For instance, AI-enabled digital lending platform possess capabilities to minimize loan processing time as well as operating costs. These factors are further expected to drive the digital lending platform market over the forecast period.
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Further key findings from the report suggest: The lending analytics segment is anticipated to exhibit the highest CAGR of 21.8% from 2019 to 2026. The increasing adoption of IoT, Artificial Intelligence (AI), and machine learning is expected to drive growth within the segment
The risk assessment segment is anticipated to grow at the highest CAGR of 23.1% from 2019 to 2026. Increasing demand to proactively respond to various cyber-attacks and the necessity to bring back the financial processes to a normal state is driving demand for the risk assessment segment
The cloud segment is expected to register highest growth rate over the forecast period, as it minimizes up-front costs among new entrants in the industry
Peer-to-peer segment is expected to emerge as the fastest-growing end use segment over the next seven years owing to increasing digitally savvy consumer base coupled with high adoption of paperless financing services for retail propositions
North American regional market held the largest share in 2018 due to the presence of large number of technology providers and robust infrastructure for digital lending platform
The key players operating in the digital lending platform market include Ellie Mae, Inc.; Fiserv, Inc.; FIS; Roostify; Nucleus Software; Sigma Infosolutions; Tavant; Wizni, Inc.; Newgen Software; and Pegasystems Inc.
Grand View Research has segmented the global digital lending platform market based on solution, service, deployment, end use, and region: Digital Lending Platform Solution Outlook (Revenue, USD Million, 2015 - 2026) Business Process Management
Lending Analytics
Loan Management
Loan Origination
Risk & Compliance Management
Others
Digital Lending Platform Service Outlook (Revenue, USD Million, 2015 - 2026) Design & Implementation
Training & Education
Risk Assessment
Consulting
Support & Maintenance
Digital Lending Platform Deployment Outlook (Revenue, USD Million, 2015 - 2026) On-premise
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Cloud
Digital Lending Platform End-use Outlook (Revenue, USD Million, 2015 - 2026) Banks
Insurance Companies
Credit Unions
Savings & Loan Associations
Peer-to-Peer Lending
Others
Digital Lending Platform Regional Outlook (Revenue, USD Million, 2015 - 2026) North America
o
U.S.
o
Canada
Europe o
U.K.
o
Germany
Asia Pacific o
China
o
India
o
Japan
Latin America o
Brazil
Middle East & Africa
Table of Content Chapter 1 Methodology and Scope 1.1 Research Methodology 1.2 Research Scope and Assumptions 1.3 List of Data Sources Chapter 2 Executive Summary 2.1 Digital Lending Platform Market - Industry Snapshot & Key Buying Criteria, 2015 - 2026 2.2 Global Digital Lending Platform Market, 2015 - 2026 2.2.1 Global digital lending platform market, by region, 2015 - 2026 2.2.2 Global digital lending platform market, by solution, 2015 - 2026
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2.2.3 Global digital lending platform market, by service, 2015 - 2026 2.2.4 Global digital lending platform market, by deployment, 2015 - 2026 2.2.5 Global digital lending platform market, by end use, 2015 - 2026 Chapter 3 Digital Lending Platform Market - Industry Outlook 3.1 Market Segmentation and Scope 3.2 Market Size and Growth Prospects 3.3 Digital Lending Platform Market - Value Chain Analysis 3.3.1 Vendor landscape 3.4 Digital Lending Platform Market Dynamics 3.4.1 Market driver analysis 3.4.1.1 Increasing adoption of digital channels to improve customer experience 3.4.1.2 Rising adoption of machine learning, blockchain, and AI based digital lending platforms and solutions 3.4.2 Market challenge analysis Continue…………. About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market y provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and factbased research across a range of industries including technology, chemicals, materials, healthcare and energy. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email:sales@grandviewresearch.com For More Information:http://www.grandviewresearch.com
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