Digital Lending Platform Market Trends, Industry & Size 2031
Digital Lending Platform Market Trends, Industry & Size 2031
Segments - Digital Lending Platform Market by Services (Training & Education, Design & Implementation, Consulting, Support & Maintenance, and Risk Assessment), Deployments (Cloud and On-premise), Solutions (Lending Analytics, Risk & Compliance Management, Business Process Management, Loan Origination, Loan Management, and Others), End-users (Insurance Companies, Banks, Savings & Loan Associations, Credit Unions, Peer-to-Peer Lending, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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| Report ID :ICT-SE-3717
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| 165 Pages
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Report Description
The global digital lending platform market size was valued USD 4.8 billion in 2020 and is anticipated to reach USD 26.09 billion by 2028, expanding at a CAGR of 24% during the forecast period, 2021–2028. The growth of the market is attributed to the increasing penetration of smartphones and Internet.
Digital lending is the process of providing loans that are applied and managed through virtual channels. Banks & other loan suppliers are generally adopting & implementing this technology to robotize loan process throughout lockdown state of affairs across the globe. Virtual lending has authorized many financial service providers a way to offer services to the masses at a faster rate and at low-cost to people.
The COVID-19 pandemic has had a good impact on the digital lending platform market. Banks and credit unions added digital banking offerings to best meet the requirement of their buyers in the wake of the outbreak of the pandemic as well as the banks are using digital channels for lending loans under the Paycheck Protection Program.
Market Trends, Drivers, Restraints, and Opportunities
- Rapid digitization amidst the pandemic is anticipated drive the digital lending market.
- Growing awareness of digital lending and implementation of training and skillsets to manage advanced solutions are the main factors responsible for the automated digital lending processes across the globe.
- Underdeveloped nations in the world still use the legacy telecom infrastructure of the power of delivering low latency and high-capacity connectivity. Moreover, the redundancy to use the legacy system can hamper the market growth.
- Increasing adoption of ML, AI, and block chain is estimated to create lucrative opportunities for the market.
Scope of the Report
The report on the global digital lending platform market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Digital Lending Platform Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Services (Training & Education, Design & Implementation, Consulting, Support & Maintenance, Risk Assessment), Deployments (Cloud and On-premise), Solutions (Lending Analytics, Risk & Compliance Management, Business Process Management, Loan Origination, Loan Management, and Others), End-users (Insurance Companies, Banks, Savings &Loan Associations, Credit Unions, Peer-to-Peer Lending, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
FISFiserv, Inc.; Nucleus Software; Pegasystems Inc.; Roostify; Sigma Infosolutions; Tavant; Ellie Mae, Inc.; and Newgen Software |
Digital Lending Platform Market Segment Insights
Design & implementation segment is projected to expand at a significant CAGR
On the basis of services, the market is segregated into design & implementation, training & education, risk assessment, consulting, support & maintenance. The design & implementation segment is projected to expand at a considerable CAGR during the forecast period. Consultancy services let credit unions to design training programs for specific requirements. On the other hand, the risk assessment segment is anticipated to account for a major market share during the forecast period.
Cloud segment to account a major market share
Based on deployments, the market is segregated into on-premise and cloud. The cloud segment is estimated to hold a large market share during the forecast period due to increasing preference for cloud-based platforms. On the other hand, the on-premise segment to grow at a moderate rate in the projected timeline.
Loan management segment is expected to grow at a rapid pace
In terms of solutions, the global digital lending platform market is divided into business process management, lending analytics, loan management, loan origination, risk & compliance management, and others. The loan management segment is expected to grow at a rapid pace during the forecast period due to the rise of the business process management part across the globe.
Credit unions segment is expected to exhibit a high CAGR
On the basis of end-users, the market is segregated into banks, insurance companies, credit unions, savings &loan associations, peer-to-peer lending, others. The credit unions segment is expected to expand at a high CAGR during the forecast period. The e-signature feature can innovatively help in reducing the clearing time and allow credit unions in enhancing buyer experience. On the other hand, the insurance companies segment is anticipated to account for a major market share during the forecast period.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the global digital lending platform market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to constitute a key share of the market during the projected period due to increasing Internet penetration rate and rapid digitization in countries such as India, China, and Japan. A large mobile work force in the region is specifically prompting financial industry to enhance customer experience and digitalize their services.
Segments
Segments Covered in the Report
The Global Digital Lending Platform Market has been segmented on the basis of
Services
- Design & Implementation
- Training & Education
- Risk Assessment
- Consulting
- Support & Maintenance
- On-premise
- Cloud
- Business Process Management
- Lending Analytics
- Loan Management
- Loan Origination
- Risk & Compliance Management
- Others
- Banks
- Insurance Companies
- Credit Unions
- Savings &Loan Associations
- Peer-to-Peer Lending
- Others
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- FISFiserv, Inc.
- Nucleus Software
- Pegasystems Inc.
- Roostify
- Sigma Infosolutions
- Tavant
- Ellie Mae, Inc.
- Newgen Software
Competitive Landscape
Key players competing in the global digital lending platform market are FISFiserv, Inc.; Nucleus Software; Pegasystems Inc.; Roostify; Sigma Infosolutions; Tavant; Ellie Mae, Inc.; and Newgen Software.
In March 2019, Amount LLC partnered with TD Bank. The alliance is expected to leverage TD Bank’s loan offers.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Digital Lending Platform Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Digital Lending Platform Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Digital Lending Platform Market - Supply Chain
4.5. Global Digital Lending Platform Market Forecast
4.5.1. Digital Lending Platform Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Digital Lending Platform Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Digital Lending Platform Market Absolute $ Opportunity
5. Global Digital Lending Platform Market Analysis and Forecast by End Users
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by End Users
5.2.2. Y-o-Y Growth Projections by End Users
5.3. Digital Lending Platform Market Size and Volume Forecast by End Users
5.3.1. Banks
5.3.2. Insurance Companies
5.3.3. Credit Unions
5.3.4. Savings &Loan Associations
5.3.5. Peer-to-Peer Lending
5.3.6. Others
5.4. Absolute $ Opportunity Assessment by End Users
5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Digital Lending Platform Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Digital Lending Platform Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Digital Lending Platform Demand Share Forecast, 2019-2026
7. North America Digital Lending Platform Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Digital Lending Platform Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Digital Lending Platform Market Size and Volume Forecast by End Users
7.4.1. Banks
7.4.2. Insurance Companies
7.4.3. Credit Unions
7.4.4. Savings &Loan Associations
7.4.5. Peer-to-Peer Lending
7.4.6. Others
7.5. Basis Point Share (BPS) Analysis by End Users
7.6. Y-o-Y Growth Projections by End Users
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Digital Lending Platform Demand Share Forecast, 2019-2026
8. Latin America Digital Lending Platform Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Digital Lending Platform Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Digital Lending Platform Market Size and Volume Forecast by End Users
8.4.1. Banks
8.4.2. Insurance Companies
8.4.3. Credit Unions
8.4.4. Savings &Loan Associations
8.4.5. Peer-to-Peer Lending
8.4.6. Others
8.5. Basis Point Share (BPS) Analysis by End Users
8.6. Y-o-Y Growth Projections by End Users
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Digital Lending Platform Demand Share Forecast, 2019-2026
9. Europe Digital Lending Platform Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Digital Lending Platform Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Digital Lending Platform Market Size and Volume Forecast by End Users
9.4.1. Banks
9.4.2. Insurance Companies
9.4.3. Credit Unions
9.4.4. Savings &Loan Associations
9.4.5. Peer-to-Peer Lending
9.4.6. Others
9.5. Basis Point Share (BPS) Analysis by End Users
9.6. Y-o-Y Growth Projections by End Users
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Digital Lending Platform Demand Share Forecast, 2019-2026
10. Asia Pacific Digital Lending Platform Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Digital Lending Platform Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Digital Lending Platform Market Size and Volume Forecast by End Users
10.4.1. Banks
10.4.2. Insurance Companies
10.4.3. Credit Unions
10.4.4. Savings &Loan Associations
10.4.5. Peer-to-Peer Lending
10.4.6. Others
10.5. Basis Point Share (BPS) Analysis by End Users
10.6. Y-o-Y Growth Projections by End Users
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Digital Lending Platform Demand Share Forecast, 2019-2026
11. Middle East & Africa Digital Lending Platform Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Digital Lending Platform Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Digital Lending Platform Market Size and Volume Forecast by End Users
11.4.1. Banks
11.4.2. Insurance Companies
11.4.3. Credit Unions
11.4.4. Savings &Loan Associations
11.4.5. Peer-to-Peer Lending
11.4.6. Others
11.5. Basis Point Share (BPS) Analysis by End Users
11.6. Y-o-Y Growth Projections by End Users
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Digital Lending Platform Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Digital Lending Platform Market: Market Share Analysis
12.2. Digital Lending Platform Distributors and Customers
12.3. Digital Lending Platform Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. FISFiserv, Inc.
12.4.2. Nucleus Software
12.4.3. Pegasystems Inc.
12.4.4. Roostify
12.4.5. Sigma Infosolutions
12.4.6. Tavant
12.4.7. Ellie Mae, Inc.
12.4.8. Newgen Software
Methodology
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