Key regions: China, United Kingdom, Brazil, Israel, India
The CrowdLending (Business) market in Lithuania has been experiencing significant growth in recent years.
Customer preferences: Lithuanian businesses are increasingly turning to CrowdLending platforms as a source of funding. This is due to the convenience and accessibility offered by online platforms, which allow businesses to connect directly with potential lenders. The ease of use and transparent nature of CrowdLending platforms also appeals to businesses, as they can easily compare different lending options and choose the one that best suits their needs. Additionally, the lower interest rates offered by CrowdLending platforms compared to traditional banks make them an attractive option for businesses seeking affordable financing.
Trends in the market: One of the key trends in the CrowdLending market in Lithuania is the growing number of platforms available to businesses. This increased competition among platforms has led to more favorable terms for borrowers, including lower interest rates and more flexible repayment options. As a result, businesses are increasingly turning to CrowdLending platforms as a viable alternative to traditional bank loans. Another trend in the market is the increasing use of data analytics and machine learning algorithms by CrowdLending platforms. These technologies allow platforms to assess the creditworthiness of borrowers more accurately and efficiently, reducing the risk of default for lenders. This has further boosted the confidence of businesses in CrowdLending platforms, as they can be assured that their loan applications will be evaluated fairly and objectively.
Local special circumstances: Lithuania has a strong entrepreneurial culture, with a high number of small and medium-sized enterprises (SMEs) operating in the country. These businesses often face challenges in accessing financing from traditional banks, as they may not meet the stringent requirements for collateral or have a long enough credit history. CrowdLending platforms provide a solution to this problem by offering alternative financing options that are more accessible to SMEs. This has contributed to the growth of the CrowdLending market in Lithuania.
Underlying macroeconomic factors: The growth of the CrowdLending market in Lithuania can be attributed to several macroeconomic factors. Firstly, the country has a stable and growing economy, which has created a favorable environment for businesses to thrive. This has increased the demand for financing among businesses, leading to the rise of alternative lending options such as CrowdLending. Secondly, the low interest rate environment in Lithuania has made traditional bank loans less attractive for businesses. CrowdLending platforms, on the other hand, offer lower interest rates, making them a more affordable option for businesses seeking financing. Lastly, the digitalization of financial services has played a significant role in the growth of the CrowdLending market in Lithuania. The increasing use of online platforms for various financial transactions has made it easier for businesses to access funding through CrowdLending platforms. This trend is expected to continue as more businesses embrace digital technologies and seek alternative financing options.
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)
