Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - Armenia

Armenia

Armenia's total transaction value in the MarketMarketplace Lending (Consumer) market market is projected to reach US$0.0 in 2024.
When compared globally, the highest transaction value is expected the United States (US$26,720m in 2024).
Key Market Indicators offer a snapshot of the social and economic landscape of the chosen region, offering further insights into market-specific advancements.
These indicators, in conjunction with information from statistical bureaus, industry associations, and businesses, form the basis for the Statista market forecasts.
Armenia's marketplace lending sector is experiencing steady growth, attracting both local and international investors seeking opportunities in consumer capital raising.

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

Market

Region

Region comparison

Currency

Analyst Opinion

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

Customer preferences: Armenian consumers are increasingly turning to marketplace lending platforms for their borrowing needs. This is driven by several factors, including the convenience and accessibility of online lending platforms, as well as the ability to access loans quickly and easily without the need for extensive paperwork or collateral. Additionally, marketplace lending offers borrowers a wider range of loan options and terms compared to traditional banks, allowing them to find the best fit for their specific needs.

Trends in the market: One of the key trends in the Armenian marketplace lending market is the increasing number of platforms entering the market. This has led to greater competition among lenders, resulting in more favorable loan terms and interest rates for borrowers. Additionally, there has been a shift towards peer-to-peer lending, where individuals can lend money directly to borrowers, bypassing traditional financial institutions. This trend is driven by the desire for greater transparency and lower fees.

Local special circumstances: Armenia has a relatively young population, with a high percentage of tech-savvy individuals. This has created a favorable environment for the growth of marketplace lending, as consumers are comfortable using online platforms for financial transactions. Furthermore, the lack of access to traditional banking services in some rural areas has also contributed to the popularity of marketplace lending platforms, as they provide an alternative source of credit for underserved communities.

Underlying macroeconomic factors: Armenia has experienced steady economic growth in recent years, with a stable inflation rate and low unemployment. This has created a favorable environment for borrowing, as consumers have greater confidence in their ability to repay loans. Additionally, the government has implemented reforms to improve the business environment and attract foreign investment, which has further contributed to the growth of marketplace lending in the country. In conclusion, the Marketplace Lending (Consumer) market in Armenia is thriving due to customer preferences for convenience and accessibility, as well as the increasing number of platforms entering the market. The local special circumstances, such as a young population and limited access to traditional banking services, have also contributed to the growth of marketplace lending. Furthermore, the underlying macroeconomic factors, including steady economic growth and government reforms, have created a favorable environment for borrowing in the country.

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.