Key regions: China, United Kingdom, Brazil, Israel, India
The CrowdLending (Business) market in Armenia is witnessing significant growth and development.
Customer preferences: Armenian businesses are increasingly turning to crowdlending as a source of financing. This is driven by several factors, including the ease and convenience of accessing funds through online platforms, the ability to bypass traditional lending institutions, and the potential for lower interest rates compared to traditional loans. Additionally, crowdlending allows businesses to tap into a larger pool of potential lenders, increasing their chances of securing funding.
Trends in the market: One of the key trends in the CrowdLending (Business) market in Armenia is the emergence of specialized platforms catering to specific industries or sectors. These platforms understand the unique needs and challenges of businesses operating in these sectors, and are able to provide tailored financing solutions. This trend is driven by the increasing demand for sector-specific funding options, as businesses seek out lenders who have a deep understanding of their industry. Another trend in the market is the growing popularity of peer-to-peer lending platforms. These platforms connect individual lenders with businesses in need of financing, creating a direct lending relationship. This trend is driven by the desire for more personalized lending experiences, as businesses prefer working with individual lenders who may have a better understanding of their specific needs and circumstances.
Local special circumstances: Armenia's small and medium-sized enterprises (SMEs) play a crucial role in the country's economy, accounting for a significant portion of employment and GDP. However, these businesses often face challenges in accessing financing from traditional sources, such as banks. CrowdLending (Business) platforms provide an alternative financing option for these SMEs, enabling them to access the capital they need to grow and expand.
Underlying macroeconomic factors: Armenia has experienced steady economic growth in recent years, driven by sectors such as IT, tourism, and agriculture. This economic growth has created a favorable environment for businesses, leading to increased demand for financing. Additionally, the government has implemented reforms to improve the business environment and attract foreign investment, further contributing to the growth of the CrowdLending (Business) market. In conclusion, the CrowdLending (Business) market in Armenia is experiencing significant growth and development, driven by customer preferences for convenient and accessible financing options. The emergence of specialized platforms and the popularity of peer-to-peer lending are key trends in the market. The unique circumstances of the local market, including the importance of SMEs and the challenges they face in accessing traditional financing, further contribute to the growth of the crowd lending market. The underlying macroeconomic factors, including steady economic growth and government reforms, create a favorable environment for the development of the CrowdLending (Business) market in Armenia.
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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