Key regions: China, United Kingdom, Brazil, Israel, India
The CrowdLending (Business) market in Turkmenistan is experiencing steady growth and development.
Customer preferences: Turkmenistan is a country with a small and developing economy, and businesses often face challenges when it comes to accessing traditional sources of financing. This has led to a growing preference for alternative financing options such as CrowdLending.
Trends in the market: One of the key trends in the CrowdLending (Business) market in Turkmenistan is the increasing number of small and medium-sized enterprises (SMEs) turning to this form of financing. SMEs play a crucial role in the country's economy, and CrowdLending provides them with an opportunity to raise funds for their business expansion and development. Another trend in the market is the emergence of specialized CrowdLending platforms that cater specifically to the needs of businesses in Turkmenistan. These platforms understand the unique challenges faced by local businesses and tailor their services accordingly. This has further fueled the growth of the CrowdLending market in the country.
Local special circumstances: Turkmenistan has a relatively underdeveloped banking sector, with limited access to credit for businesses. This has created a gap in the market, which CrowdLending platforms have been able to fill. These platforms provide businesses with a convenient and efficient way to access financing, without the need for lengthy and complex loan application processes.
Underlying macroeconomic factors: The development of the CrowdLending (Business) market in Turkmenistan can be attributed to several underlying macroeconomic factors. Firstly, the government has been actively promoting entrepreneurship and small business development, which has created a favorable environment for the growth of the CrowdLending market. Additionally, the country's stable economic growth and low inflation rate have instilled confidence in both borrowers and lenders, making CrowdLending an attractive option for businesses looking to raise funds. Furthermore, the increasing internet penetration and smartphone usage in Turkmenistan have made it easier for businesses to access CrowdLending platforms and for investors to participate in lending activities. This has contributed to the overall growth and development of the CrowdLending (Business) market in the country.
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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