Contact
![Contact Meredith Alda](https://cdn.statcdn.com/contactPerson/3646.jpg)
Mon - Fri, 9am - 6pm (EST)
![Contact Yolanda Mega](https://cdn.statcdn.com/contactPerson/3195.jpg)
Mon - Fri, 9am - 5pm (SGT)
![Contact Kisara Mizuno](https://cdn.statcdn.com/contactPerson/2661.jpg)
Mon - Fri, 10:00am - 6:00pm (JST)
![Contact Lodovica Biagi](https://cdn.statcdn.com/contactPerson/863.jpg)
Mon - Fri, 9:30am - 5pm (GMT)
![Contact Carolina Dulin](https://cdn.statcdn.com/contactPerson/3012.jpg)
Mon - Fri, 9am - 6pm (EST)
Key regions: Germany, Brazil, Australia, Israel, United States
The Crowdfunding market in Western Asia is experiencing significant growth and development, driven by customer preferences, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Customers in Western Asia are increasingly turning to crowdfunding as a means of supporting innovative projects and ideas. The region has a young and tech-savvy population who are eager to contribute to and participate in the development of new products and services. Crowdfunding platforms provide an accessible and transparent way for individuals to support projects that align with their interests and values. Additionally, crowdfunding allows customers to engage directly with creators and entrepreneurs, fostering a sense of community and personal connection.
Trends in the market: One of the key trends in the Crowdfunding market in Western Asia is the rise of Islamic crowdfunding platforms. These platforms adhere to Shariah principles and cater to the specific needs and preferences of Muslim customers. They offer crowdfunding options for projects that are compliant with Islamic finance regulations, such as ethical investments and charitable initiatives. This trend reflects the growing demand for Islamic financial products and services in the region. Another trend in the market is the emergence of niche crowdfunding platforms that cater to specific industries or sectors. For example, there are platforms dedicated to supporting startups in the technology sector, creative projects in the arts and entertainment industry, and social impact initiatives. These niche platforms provide targeted support and resources for entrepreneurs and creators, enhancing the overall crowdfunding ecosystem in Western Asia.
Local special circumstances: Western Asia has a unique set of circumstances that contribute to the development of the Crowdfunding market. One such circumstance is the presence of a large expatriate population. Many individuals from Western Asia work and live abroad, and crowdfunding platforms provide a way for them to support projects and initiatives in their home countries. This diaspora support plays a significant role in funding local projects and fostering economic development. Additionally, Western Asia is home to several countries with a high level of income inequality. Crowdfunding offers a potential solution to this issue by providing funding opportunities for individuals and communities who may otherwise struggle to access traditional financing options. By democratizing access to capital, crowdfunding has the potential to bridge the gap between the haves and the have-nots in Western Asia.
Underlying macroeconomic factors: The Crowdfunding market in Western Asia is also influenced by underlying macroeconomic factors. The region has experienced rapid economic growth in recent years, leading to an increase in disposable income and consumer spending. This economic prosperity has created a favorable environment for crowdfunding, as individuals have more financial resources to support projects and initiatives. Furthermore, Western Asia is home to a vibrant startup ecosystem, with many entrepreneurs and innovators seeking funding to bring their ideas to life. Crowdfunding provides a viable alternative to traditional financing options, such as bank loans or venture capital, which may be difficult to access for early-stage startups. The availability of crowdfunding platforms has fueled entrepreneurial activity in the region and contributed to the growth of the startup ecosystem. In conclusion, the Crowdfunding market in Western Asia is experiencing growth and development due to customer preferences, local special circumstances, and underlying macroeconomic factors. The rise of Islamic crowdfunding platforms, the emergence of niche platforms, and the support of the diaspora population all contribute to the thriving crowdfunding ecosystem in the region. Additionally, the economic prosperity and vibrant startup ecosystem in Western Asia create a favorable environment for crowdfunding to flourish.
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.Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)