Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - ASEAN

ASEAN

The ASEAN country is projected to reach a total transaction value of US$47.72m in the MarketMarketplace Lending (Consumer) market market by 2025.
In comparison globally, the United States is expected to have the highest transaction value of US$28,290m in the same year.
Key Market Indicators offer a glimpse into the social and economic landscape of the chosen region, offering valuable insights into specific market trends.
These indicators, combined with data from statistical offices, trade associations, and businesses, form the basis for Statista market models.
In the ASEAN region, Marketplace Lending in Consumer Capital Raising is gaining traction, with platforms like LenddoEFL leading the way.

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

Market

Region

Region comparison

Currency

Analyst Opinion

Marketplace lending (consumer) in ASEAN has been experiencing significant growth in recent years. This can be attributed to customer preferences for convenient and accessible lending options, as well as local special circumstances and underlying macroeconomic factors that have contributed to the development of the market.

Customer preferences in ASEAN have shifted towards digital solutions for financial services, including lending. Consumers are increasingly looking for convenient and accessible lending options that can be accessed through their mobile devices. This has led to the rise of marketplace lending platforms that offer quick and easy loan application processes, with funds disbursed directly to the borrower's bank account.

Additionally, marketplace lending platforms often provide competitive interest rates and flexible repayment terms, which appeal to borrowers who are looking for alternative lending options outside of traditional banks. Trends in the marketplace lending (consumer) market in ASEAN vary across the region. In countries like Singapore and Malaysia, marketplace lending platforms have gained significant traction and have become a popular choice for borrowers.

These platforms have been able to attract borrowers by leveraging technology and data analytics to provide personalized loan offers. In contrast, countries like Indonesia and the Philippines are still in the early stages of marketplace lending development, but show great potential for growth due to their large unbanked populations and increasing smartphone penetration rates. Local special circumstances also play a role in the development of the marketplace lending (consumer) market in ASEAN.

For example, in countries with limited access to traditional banking services, marketplace lending platforms offer a viable alternative for individuals and small businesses to access credit. These platforms can also help bridge the financing gap for underserved segments of the population, such as micro-entrepreneurs and low-income individuals, who may not meet the strict requirements of traditional banks. Underlying macroeconomic factors have also contributed to the growth of the marketplace lending (consumer) market in ASEAN.

The region has experienced rapid economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has created a demand for credit, and marketplace lending platforms have been able to fill this gap by providing accessible and affordable loan options. Additionally, the digitalization of financial services has been a key focus for many ASEAN governments, leading to supportive regulatory environments and initiatives to promote financial inclusion through technology-driven solutions.

In conclusion, the marketplace lending (consumer) market in ASEAN is developing due to customer preferences for convenient and accessible lending options, local special circumstances that create a demand for alternative credit sources, and underlying macroeconomic factors that support the growth of the digital financial services sector. As the region continues to embrace technology and digital solutions, marketplace lending is expected to play an increasingly important role in meeting the credit needs of consumers in ASEAN.

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.