Key regions: Germany, Brazil, Australia, Israel, United States
Crowdfunding is gaining popularity in Northern Africa as a means for individuals and businesses to raise funds for various projects and initiatives.
Customer preferences: In recent years, there has been a shift in customer preferences towards supporting local entrepreneurs and innovative projects. Crowdfunding provides an avenue for individuals to directly contribute to projects they believe in, allowing them to have a sense of ownership and impact. Additionally, crowdfunding platforms offer a wide range of projects to choose from, giving customers the opportunity to support causes that align with their personal values and interests.
Trends in the market: One of the key trends in the crowdfunding market in Northern Africa is the rise of social and charitable crowdfunding campaigns. People are increasingly using crowdfunding platforms to raise funds for social causes such as education, healthcare, and community development projects. This trend is driven by the desire to address social issues and make a positive impact in local communities. Another trend in the market is the emergence of crowdfunding platforms that cater specifically to local entrepreneurs and startups. These platforms provide a space for entrepreneurs to showcase their ideas and gain financial support from the community. This trend is fueled by the growing startup ecosystem in Northern Africa, with an increasing number of individuals venturing into entrepreneurship and seeking alternative funding options.
Local special circumstances: Northern Africa has a young and tech-savvy population, which has contributed to the growth of crowdfunding in the region. With high internet penetration and smartphone usage, individuals have easy access to crowdfunding platforms and can participate in campaigns from anywhere. This has created a vibrant online community that actively engages in crowdfunding initiatives. Furthermore, the lack of traditional funding options and limited access to capital in some countries of Northern Africa has also led to the rise of crowdfunding. Entrepreneurs and individuals who may not have access to traditional financing channels can turn to crowdfunding as a viable alternative. This has democratized the funding landscape and provided opportunities for those who would otherwise struggle to secure funding for their projects.
Underlying macroeconomic factors: The crowdfunding market in Northern Africa is also influenced by macroeconomic factors such as economic growth, political stability, and regulatory frameworks. Countries with stable economies and favorable business environments are more likely to attract crowdfunding activities. Additionally, supportive regulations that protect both investors and project creators can help foster trust and confidence in the crowdfunding market. In conclusion, the crowdfunding market in Northern Africa is growing due to changing customer preferences, the emergence of local crowdfunding platforms, and the unique circumstances of the region. The rise of social and charitable crowdfunding campaigns, as well as the increasing support for local entrepreneurs, reflects the desire to make a positive impact and address social issues. The young and tech-savvy population, coupled with limited access to traditional funding options, has created a fertile ground for crowdfunding to thrive. As the region continues to develop economically and politically, the crowdfunding market is expected to further expand and diversify.
Data coverage:
The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
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