With 13.5% CAGR, Digital Lending Market Size worth USD 22.4 Billion by 2028 | Vantage Market Research

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WASHINGTON, May 09, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Digital Lending Market finds that the factors such as, government engagement towards digital lending, escalating demand for smartphones & rapid digitalization, greater visibility & options for borrowers & lenders, huge digital lending demand in MSMEs platform and huge growth of digital lending in pandemic period are augmenting the maximum growth for Digital Lending Market over projected years. However, high preference for traditional lending methods is a major obstacle in the growth of Digital Lending Market during forecast period. Whereas, increasing use of advance technologies in digital lending platform will create various growth opportunities for Digital Lending Market in the coming years.

The total Global Digital Lending Market is estimated to reach USD 22.4 Billion by the year 2028 and is projected to grow exhibiting a Compound Annual Growth Rate (CAGR) of 13.5%, states Vantage Market Research, in a report, titled “Digital Lending Market Size, Share & Trends Analysis Report by Offering (Solutions, Services), by Deployment Mode (Cloud, On-premises), by End User (Banks, Credit Unions, NBFCs), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”. The Global Digital Lending Market revenue stood at a value USD 10.5 Billion in the year 2021.

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  • The report analyzes the Digital Lending market competitive landscape and offers information on several market vendors.
  • An Exclusive study come up with Vantage Market Research experienced researchers projected value of USD 22.4 Billion at a CAGR of 13.5%.
  • It offers additional highlights and key points on various market segments and their impact in the coming years.
  • The sample report includes Latest Drivers and Trends in the Market.
  • Comprehensive information on factors that will assist Digital Lending market growth during the next five years.
  • The report offers predictions on upcoming trends and changes in consumer behavior.
  • Comprehensive study involving market types, application and end-users.
  • To understand more about Market Dynamics, get access to our free sample report.

Market Dynamics:

Drivers:

Changing Consumer Expectation and Behaviour for Using Digital Platform Drives the Market Demand

Many consumers require various types of loan such as, personal loan to home loan and many other. And with the help of digital banking and financial operations, it is quite easy to take loan instantly. In addition, digitization in banking and financial services provides various benefits that helps these consumers to fulfill their expectations. In order to meet customer expectations, the digital lending providers gives more focus in enhancing their offerings. Therefore, changing consumer demand and expectation fuels the growth of Digital Lending Market in coming years. In addition, increasing use of smartphones across globe also provides hassle free processing of loan from anywhere. Thus, rapid increase in smartphone users is also responsible for augmenting the growth of Digital Lending Market in years to come.

The Digital Lending Market Covers the Following Key Insights & Findings:

  • Exclusive Summary: Basic statistics on the global Digital Lending market.
  • The Changing Effect on Market Dynamics: global part provides driving factors, trends, challenges and opportunities; post-COVID analysis.
  • View 2022-2028 by type, end user and region/nation.
  • Evaluate industry by market segments, countries/regions, manufacturers/companies, revenue share and sales of these companies in these various regions of major countries/regions (2022-2028).
  • Understand the structure of the Digital Lending market by identifying its various sub-segments.
  • Researchers shed light on market dynamics, such as drivers, restraints, trends, and opportunities.
  • It offers massive data about the trending factors that will influence the progress of the market.
  • In-depth understanding of Digital Lending Market drivers, restraints, and major micro markets.
  • Regional analysis: Asia Pacific Region to Stand Firm on its Leading Position in the industry.
  • Free Report Customization: This report can be customized according to specific client needs.
  • Key Strategic Developments: The study also includes the key strategic developments of the market, new product launch, comprising R&D, mergers and acquisitions, collaborations, joint ventures, agreements, partnerships, and regional growth of key competitors operating in the market globally and regionally.

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Segmentation of the Global Digital Lending Market:

  • Offering
    • Solutions
    • Services
  • Deployment Mode
    • Cloud
    • On-Premises
  • End User
    • Banks
    • Credit Unions
    • NBFCs
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

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Increasing Adoption of Advance Technologies Drives the Market

Increasing adoption of digital banking platform due to the increased use of smartphones also increases the Digital Lending Market demand. In order to process huge customer information, various digital lending platform providers uses advance technologies such as, Machine Learning, Artificial Intelligence, and Cloud Computing in their product. For Instance, Kabbage, an online financial technology company, uses AI algorithms in order to assess all risks of lending money to a certain customer and provides loan facility in minimum time period. Thus, increasing adoption of advance technologies in baking and finance sector propels the growth of Digital Lending Market over projected years.

COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

  1. Impact Assessment of COVID-19 Pandemic
    1. North America
    2. Europe
    3. Asia Pacific
    4. Latin America
    5. Middle East & Africa
  2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
  3. Key Strategies Undertaken by Companies to Tackle COVID-19
  4. Long Term Dynamics
  5. Short Term Dynamics

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The Report on Digital Lending Market Highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Regional Analysis:

North America Holds Maximum Market Share

North America is accounted to have maximum share for Digital Lending Market in 2021. This growth is majorly accounted owing to the large presence of digital lending providers in this region. In addition, this region is an early adopter for latest technologies and therefore, there is huge demand for digital and end-to-end financial solutions. The availability of large mobile workforce helps financial institutions to digitalize their work and enhance customer services.

Asia Pacific is expected to witness the fastest growing region for Digital Lending Market during forecast period. This surge is attributed to the government engagement in order to promote digital infrastructure in this region. In addition, increasing economic developments, globalization, digitalization, and rapid proliferation of smartphones are some major factors that augmenting the growth for Digital Lending Market in this region.

List of Prominent Players in the Digital Lending Market:

  • Fiserv (US)
  • ICE Mortgage Technology (US)
  • FIS (US)
  • Newgen Software (India)
  • Nucleus Software (India)
  • Temenos (Switzerland)
  • Pega (US)
  • Sigma Infosolutions (India)
  • Intellect Design Arena (US)
  • Tavant (US)
  • Docutech (US)
  • Cu Direct (US)
  • Abrigo (US)
  • Wizni (US)
  • Built Technologies (US)
  • Turnkey Lenders (US)
  • Finastra (UK)
  • Rupee Power (India)
  • Roostify (US)
  • Juris Tech (Malaysia)
  • Decimal Technologies (India)
  • HES Fintech (Belarus)
  • ARGO (US)
  • Symitar (US)
  • Edge Verv (India)
  • TCS (India)
  • Wipro (India)
  • SAP (Germany)
  • Oracle (US)
  • BNY Mellon (US)
  • Black Knight (US)

Browse market data Tables and Figures spread through 148 Pages and in-depth TOC on “Digital Lending Market Size, Share & Trends Analysis Report by Offering (Solutions, Services), by Deployment Mode (Cloud, On-premises), by End User (Banks, Credit Unions, NBFCs), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)” View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/digital-lending-market-819162

Recent Developments:

July, 2021: Newgen Software introduced its new digital transformation platform, Newgen ONE. This platform is basically providing the segregation of unstructured information and improve customer engagement.

May, 2020: FIS introduced its new FIS Portal to help small businesses with loan forgiveness. It implements the FIS Real-time Lending Platform to automate and optimize the PPP loan forgiveness process.

Key Questions Answered in Digital Lending Market Report:

  • Which manufacturing technology is used for Digital Lending Market?
  • What developments are happening in that technology?
  • What trends are causing these developments?
  • Who are the global key players in this market?
  • What are your company profile, your product information and contact information?
  • What was Global Market Status of Digital Lending industry?
  • What was capacity, Production Value, Cost and PROFIT of Market?
  • What is current Market Status Digital Lending Industry?
  • What is the market competition in this industry, both company and country wise?
  • What’s Market Analysis of Market by Taking Applications and Types in Consideration?
  • What should be Entry Strategies, Economic Impact Countermeasures, and Marketing Channels for Digital Lending industry?

This market titled “Digital Lending Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2021
Historic Years 2016-2020
Forecast Years 2022-2028
Segments Covered • Offering

   ° Solutions

   ° Services

• Deployment Mode

   ° Cloud

   ° On-Premises

• End User

   ° Banks

   ° Credit Unions

   ° NBFCs

• Region

   ° North America

   ° Europe

   ° Asia Pacific

   ° Latin America

   ° Middle East & Africa

Region & Counties Covered • North America

   ° U.S.

   ° Canada

   ° Mexico

• Europe

   ° U.K

   ° France

   ° Germany

   ° Italy

   ° Spain

   ° Rest Of Europe

• Asia Pacific

   ° China

   ° Japan

   ° India

   ° South Korea

   ° South East Asia

   ° Rest Of Asia Pacific

• Latin America

   ° Brazil

   ° Argentina

   ° Rest Of Latin America

• Middle East & Africa

   ° GCC Countries

   ° South Africa

   ° Rest Of Middle East & Africa

Companies Covered • Fiserv (US)

• ICE Mortgage Technology (US)

• FIS (US)

• Newgen Software (India)

• Nucleus Software (India)

• Temenos (Switzerland)

• Pega (US)

• Sigma Infosolutions (India)

• Intellect Design Arena (US)

• Tavant (US)

• Docutech (US)

• Cu Direct (US)

• Abrigo (US)

• Wizni (US)

• Built Technologies (US)

• Turnkey Lenders (US)

• Finastra (UK)

• Rupee Power (India)

• Roostify (US)

• Juris Tech (Malaysia)

• Decimal Technologies (India)

• HES Fintech (Belarus)

• ARGO (US)

• Symitar (US)

• Edge Verv (India)

• TCS (India)

• Wipro (India)

• SAP (Germany)

• Oracle (US)

• BNY Mellon (US)

• Black Knight (US)

Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

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