Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - Czechia

Czechia

The total transaction value in the MarketMarketplace Lending (Consumer) market market in Czechia is forecasted to reach US$35.2m in 2024.
When compared globally, the highest transaction value is projected to be 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 specific market trends.
These indicators, in conjunction with data from statistical agencies, trade associations, and enterprises, form the basis for the Statista market forecasts.
In Czechia, Marketplace Lending in Consumer Capital Raising is gaining traction, offering alternative funding sources for individuals seeking financial support.

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

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Region comparison

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Analyst Opinion

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

Customer preferences: One of the key factors driving the growth of the Marketplace Lending (Consumer) market in Czechia is the increasing demand for quick and convenient access to credit. Consumers in Czechia are increasingly turning to online lending platforms as an alternative to traditional banks, as these platforms offer a faster and more streamlined loan application process. Additionally, the ability to compare multiple loan offers and choose the most favorable terms is also appealing to consumers.

Trends in the market: One of the major trends in the Marketplace Lending (Consumer) market in Czechia is the rise of peer-to-peer lending platforms. These platforms connect borrowers directly with individual investors, cutting out the middleman and reducing costs for both parties. This trend is driven by the increasing popularity of online lending and the desire for more personalized lending solutions. Another trend in the market is the expansion of marketplace lending into new product categories. While initially focused on personal loans, marketplace lending platforms in Czechia are now offering a wider range of loan types, including mortgages, auto loans, and small business loans. This diversification of loan products allows marketplace lenders to cater to a broader customer base and meet the specific needs of different borrower segments.

Local special circumstances: Czechia has a well-developed banking sector, but traditional banks have become more cautious in their lending practices since the global financial crisis. This has created an opportunity for marketplace lenders to fill the gap and provide credit to individuals who may not meet the strict criteria of traditional banks. The relatively high interest rates charged by traditional banks have also made marketplace lending an attractive alternative for borrowers looking for more competitive rates.

Underlying macroeconomic factors: The growth of the Marketplace Lending (Consumer) market in Czechia is also influenced by favorable macroeconomic conditions. The country has experienced steady economic growth in recent years, with low unemployment rates and rising disposable incomes. These factors have contributed to increased consumer confidence and a greater willingness to borrow. Furthermore, the digitalization of financial services has played a significant role in the development of the Marketplace Lending (Consumer) market in Czechia. The widespread use of smartphones and internet access has made it easier for consumers to access online lending platforms and complete loan applications on the go. This digital transformation has also enabled marketplace lenders to leverage advanced data analytics and algorithms to assess creditworthiness and make lending decisions more efficiently. In conclusion, the Marketplace Lending (Consumer) market in Czechia is experiencing rapid growth due to customer preferences for quick and convenient access to credit, the rise of peer-to-peer lending platforms, and the expansion of marketplace lending into new product categories. The local special circumstances of a cautious banking sector and relatively high interest rates have created a favorable environment for marketplace lenders to thrive. Additionally, the underlying macroeconomic factors of steady economic growth and digitalization of financial services have further fueled the growth of the market.

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.