Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - Guatemala

Guatemala

The total transaction value in the MarketMarketplace Lending (Consumer) market market in Guatemala is projected to reach US$180.30k in 2024.
When compared globally, the highest transaction value is expected the United States (US$27,720m in 2024).
Key Market Indicators offer an insight into the social and economic landscape of Guatemala, shedding light on market-specific trends.
These indicators, supported by data from statistical offices, trade associations, and companies, form the basis for the Statista market models.
In Guatemala, Marketplace Lending for consumer capital raising is steadily growing, attracting diverse investors and borrowers in the financial market landscape.

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

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Analyst Opinion

Marketplace lending (consumer) in Guatemala is experiencing significant growth and development.

Customer preferences: Guatemalan consumers are increasingly turning to marketplace lending platforms for their borrowing needs. This can be attributed to several factors. Firstly, the convenience and accessibility of these platforms make them an attractive alternative to traditional lenders. Borrowers can easily apply for loans online, without the need for lengthy paperwork or in-person visits to a bank. Additionally, marketplace lenders often offer competitive interest rates and flexible repayment terms, which appeal to borrowers looking for affordable and convenient financing options.

Trends in the market: One of the key trends in the Guatemalan marketplace lending market is the rise of peer-to-peer lending platforms. These platforms connect individual lenders with borrowers, cutting out the traditional intermediaries such as banks. This model has gained popularity in Guatemala due to its ability to offer lower interest rates and more personalized lending solutions. Furthermore, the increasing adoption of mobile technology in the country has also contributed to the growth of marketplace lending. Mobile apps and online platforms make it easier for borrowers to access loans and manage their finances on the go.

Local special circumstances: Guatemala has a large unbanked population, with a significant portion of the population lacking access to traditional banking services. This presents a unique opportunity for marketplace lenders to fill the gap and provide financial services to underserved communities. By leveraging technology and innovative lending models, marketplace lenders can reach a wider range of borrowers who may not have access to traditional credit options. This has the potential to drive further growth in the marketplace lending sector in Guatemala.

Underlying macroeconomic factors: The growth of the marketplace lending market in Guatemala is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has increased disposable income and consumer spending. This has created a demand for credit and financing options, which marketplace lenders are well-positioned to meet. Additionally, the low interest rate environment in Guatemala has made borrowing more affordable, further driving demand for marketplace lending services. In conclusion, the marketplace lending (consumer) market in Guatemala is developing rapidly due to customer preferences for convenience and competitive rates, the rise of peer-to-peer lending platforms, the unique opportunity to serve the unbanked population, and favorable macroeconomic factors. As the market continues to evolve, it is expected that marketplace lending will play an increasingly important role in the financial landscape of Guatemala.

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.