Key regions: China, United Kingdom, Brazil, Israel, India
The CrowdLending (Business) market in Cyprus has been experiencing significant growth in recent years, driven by customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the CrowdLending (Business) market in Cyprus have shifted towards alternative financing options, such as peer-to-peer lending platforms.
This is partly due to the ease and convenience of accessing funds through these platforms, as well as the potential for higher returns compared to traditional banking products. Additionally, small and medium-sized enterprises (SMEs) in Cyprus have increasingly turned to CrowdLending (Business) as a means of obtaining funding, as it offers a more flexible and efficient alternative to traditional bank loans. Trends in the market have also contributed to the growth of the CrowdLending (Business) market in Cyprus.
The rise of digital platforms and advancements in technology have made it easier for lenders and borrowers to connect and transact online. This has led to the emergence of new CrowdLending (Business) platforms in Cyprus, offering a wide range of financing options for businesses. Furthermore, the increasing popularity of crowdfunding campaigns and the success stories of funded projects have also generated interest and trust in the CrowdLending (Business) market.
Local special circumstances have played a role in the development of the CrowdLending (Business) market in Cyprus. The country has a vibrant entrepreneurial ecosystem, with a high number of startups and SMEs seeking funding to fuel their growth. However, access to traditional bank loans can be challenging for these businesses, especially for those with limited collateral or a lack of credit history.
CrowdLending (Business) platforms have filled this gap by providing a more inclusive and accessible financing option for Cypriot businesses. Underlying macroeconomic factors have also contributed to the growth of the CrowdLending (Business) market in Cyprus. Following the financial crisis in 2013, the country underwent significant economic reforms and austerity measures, leading to a tightening of credit conditions.
This created a demand for alternative financing options, such as CrowdLending (Business), as businesses sought to diversify their funding sources. Additionally, low interest rates in Cyprus and globally have made traditional bank deposits less attractive, prompting individuals and institutional investors to explore higher-yielding investment opportunities, including CrowdLending (Business) platforms. In conclusion, the CrowdLending (Business) market in Cyprus has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors.
The shift towards alternative financing options, the rise of digital platforms, the vibrant entrepreneurial ecosystem, and the demand for alternative funding sources have all contributed to the development of the CrowdLending (Business) market in Cyprus. With the continued support of these factors, the market is expected to further expand in the coming years.
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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