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Marketplace Lending (Consumer) - Americas

Americas

The total transaction value in the MarketMarketplace Lending (Consumer) market market in the Americas is forecasted to reach US$27.88bn by 2024.
In a global comparison, it is evident that the highest transaction value will be achieved the United States (US$27,720m in 2024).
Key Market Indicators offer a glimpse into the social and economic landscape of the region and offer valuable insights into market-specific trends.
These indicators, along with information from statistical offices, trade associations, and businesses, form the basis for the Statista market models.
In the Americas, Marketplace Lending is witnessing a surge in demand for consumer loans as a popular alternative to traditional capital raising methods.

Key regions: United Kingdom, United States, China, Brazil, Australia

Market

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Region comparison

Currency

Analyst Opinion

The Marketplace Lending (Consumer) market in Americas is experiencing significant growth and development.

Customer preferences: Customers in the Americas are increasingly turning to marketplace lending platforms as an alternative to traditional banks. This shift in preference can be attributed to several factors. Firstly, marketplace lending offers borrowers a faster and more convenient application process compared to traditional banks. Additionally, marketplace lending platforms often provide more flexible lending terms and lower interest rates, making them an attractive option for borrowers. Furthermore, the ability to access loans online has made marketplace lending particularly popular among younger generations who are more comfortable with digital technology.

Trends in the market: One of the key trends in the marketplace lending market in the Americas is the increasing diversification of lending platforms. As the market matures, we are seeing the emergence of specialized platforms that cater to specific borrower segments or industries. For example, there are now marketplace lending platforms that focus exclusively on student loans, small business loans, or even medical financing. This trend reflects the growing demand for tailored lending solutions and the ability of marketplace lending platforms to address specific needs. Another trend in the Americas marketplace lending market is the integration of technology and data analytics. Lending platforms are leveraging advanced algorithms and machine learning to assess borrower creditworthiness and make lending decisions. This allows for faster loan approvals and reduces the risk of default. Additionally, data analytics enables lenders to offer personalized loan terms based on individual borrower profiles, further enhancing the customer experience.

Local special circumstances: The Americas marketplace lending market is characterized by a diverse regulatory landscape. While some countries have embraced marketplace lending and implemented supportive regulations, others have been more cautious. This variation in regulatory frameworks has led to differences in the growth and development of marketplace lending across the region. For example, the United States has seen significant growth in marketplace lending due to its favorable regulatory environment, while other countries in the region are still navigating the regulatory landscape.

Underlying macroeconomic factors: The growth of the marketplace lending market in the Americas is also influenced by underlying macroeconomic factors. Factors such as economic growth, interest rates, and consumer confidence play a role in shaping borrower demand and lender appetite. In periods of economic expansion and low interest rates, borrowers are more likely to seek loans for various purposes, driving demand for marketplace lending. Conversely, during economic downturns or periods of high interest rates, borrower demand may decrease, impacting the growth of the marketplace lending market. In conclusion, the Marketplace Lending (Consumer) market in Americas is experiencing significant growth and development driven by customer preferences for convenience and flexibility, the emergence of specialized platforms, the integration of technology and data analytics, the diverse regulatory landscape, and underlying macroeconomic factors. As the market continues to evolve, it is expected that marketplace lending will become an increasingly important part of the financial landscape in the Americas.

Methodology

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.