Digital Lending Platform Market To Hit USD 15.3 Billion At 20.7% CAGR By 2026 | Grand View Research, Inc.

Digital Lending Platform Market To Hit USD 15.3 Billion At 20.7% CAGR By 2026 | Grand View Research, Inc.

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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.

According to a recent report, the digital lending platform market size is projected to attain USD 15.3 billion and is likely to expand at a CAGR of 20.7% from 2019 to 2026, as  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. 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.

As the Covid-19 slows down economies, it also unfolds upcoming innovation in the lending industry from consumer perspective. For instance, the pandemic has pushed the banking sector to enhance their online lending capabilities thereby boosting the credit capacity of small businesses in E-commerce. Also, the banking sector is now steering ahead with faster loan processing, cost-efficient solutions and quality turnaround time for financial services for consumers across the globe. 

Digital Lending Platform Market Report Highlights

• 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 the recent past due to the presence of large number of technology providers and robust infrastructure for digital lending platform.  

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Digital Lending Platform Market Segmentation

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
    • 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
        • U.S.
        • Canada
        • Germany
        • The U.K.
    • Asia Pacific
        • India
        • Japan
        • China
    • Latin America
        • Brazil
    • Middle East & Africa

List of Key Players of Digital Lending Platform Market

    • Ellie Mae Inc
    • Newgen Software
    • Nucleus Software
    • Pegasystems Inc
    • Sigma Infosolutions
    • Tavant
    • Wizni Inc
    • FIS
    • Fiserv Inc

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About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

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