0

Digital Lending Platform Market Projected to Hit $20.31 Billion By 2027

 
2022
Digital Lending Platform Market

Report Code : A05039

quote Cloud segment is expected to experience significant growth in the coming years, owing to rise in adoption of cloud enabled digital lending platform software among various banks and insurance companies to increase their revenue opportunity and to enhance their business across the globe quote

Pramod Borasi
Research Analyst, BFSI

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, “Digital Lending Platform Market By Component, Deployment Model, Type and Industry Vertical: Opportunity Analysis and Industry Forecast, 2020–2027”, the global digital lending platform market size was valued at $5.58 billion in 2019, and is projected to reach $20.31 billion by 2027, growing at a CAGR of 16.7% from 2020 to 2027.

The digital lending platform help banks to offer different financial services such as faster loan processing, high-quality services, and cost-efficient financial services to various customers across the globe. In addition, the use of digital lending platform helps financial service provide to improve their market share and to compete in a rapidly changing environment. 

Furthermore, rapid growth of the digital lending platform market is attributed to continuous increase in digitalization initiatives among financial organizations and surge in government initiatives for digital lending in developing countries, such as India and China. However, surge in security & compliance concerns are expected to hinder the digital lending platform market growth. Conversely, technological advancements such as integration of AI in digital lending platforms and rapid penetration of cloud-based platforms are expected to present potential growth opportunities for the market in the near future.

The global digital lending platform market is segmented into component, deployment model, type, industry vertical, and region. The on-premise segment dominated the market in 2019 and is projected to maintain its dominance during the forecast period, owing to its superior capabilities, such as better management of servers, and high data security. Furthermore, the cloud-based segment is expected to grow at a significant CAGR during the forecast period. Adopting a cloud strategy offers end users several numbers of key benefits for businesses in the digital lending industry such as ease of implementation, low cost, and unlimited accessibility.  

Region wise, the market was dominated by North America in 2019, and is expected to retain its position during the forecast period. This is attributed to increased presence of personal-focused lenders, SME-focused lenders, and student-focused lenders in the region and major players investing heavily for market development. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to rise in government initiatives for digital lending platform and surge in adoption of advanced technology such as AI & ML by banks ad FinTech firms in loan processing. 

The COVID-19 outbreak has moderate impact on the growth of the digital lending platform market as the outbreak of the COVID-19 pandemic has enabled lending activities including past-due or non-collectible loans to become an implicit part of the financial sector. Hence, the need to implement new software for debt management in microfinance institutions (MFIs) has increased considerably. Furthermore, loan process automation has become an effective means to carry out more effective strategies for collection during this outbreak; thus creating significant opportunities for the market.

Key Findings of the Study

  • By component, the software segment generated the highest revenue in the digital lending platform market analysis in 2019.
  • On the basis of deployment model, the on-premise segment generated the highest revenue in the digital lending platform market trends in 2019.
  • Region wise, Asia-Pacific is anticipated to exhibit substantial growth during the forecast period.

The report analyzes the profiles of major key players operating in the digital lending platform market share include Black Knight, Ellie MAE, Finastra, FIS Global, Fiserv, Intellect Design Arena, Nucleus Software, Tavant Technologies, Temenos, and Wipro. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the digital lending platform industry.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Digital Lending Platform Market By Component (Software and Service), Deployment Model (On-Premise and Cloud), Type (Decision Automation, Collections & Recovery, Loan Processing, Risk & Compliance Management, and Others), and Industry Vertical (Banks, Insurance Companies, Credit Unions, Savings & Loan Associations, Peer-to-Peer Lending, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Nov 2024

Plush Toy Market

Download Sample

Buy Full Version
"Digital Lending Platform Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers