Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - Niger

Niger

The country in Niger is projected to reach a total transaction value of US$0.0 in the MarketMarketplace Lending (Consumer) market market by 2024.
In a global comparison, it is evident that the United States leads with a transaction value of US$26,720m in 2024.
Key Market Indicators offer a glimpse into the social and economic landscape of Niger, providing valuable insights into market-specific trends.
These indicators, combined with data from statistical offices, trade associations, and businesses, form the basis for the Statista market models.
Niger's marketplace lending sector is experiencing a surge in consumer capital raising, driven by increased demand for alternative financing solutions.

Key regions: Singapore, United States, Israel, United Kingdom, Australia

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Analyst Opinion

Marketplace lending (consumer) in Niger has been experiencing significant growth in recent years. With the rise of digital technology and the increasing demand for access to credit, consumers in Niger are turning to marketplace lending platforms as an alternative to traditional banks.

Customer preferences: In Niger, customers are increasingly looking for convenient and accessible ways to borrow money. Marketplace lending platforms offer a quick and easy application process, allowing borrowers to access funds without the need for lengthy paperwork or collateral. This appeals to a wide range of consumers, including those who may have limited access to traditional banking services. Additionally, marketplace lending platforms often provide competitive interest rates and flexible repayment options, making them an attractive option for borrowers.

Trends in the market: One of the key trends in the marketplace lending (consumer) market in Niger is the growth of peer-to-peer lending platforms. These platforms connect individual lenders with borrowers, cutting out the middleman and reducing costs for both parties. This model has gained popularity in Niger due to its transparency and lower interest rates compared to traditional banks. As a result, more and more consumers are turning to peer-to-peer lending platforms for their borrowing needs. Another trend in the marketplace lending (consumer) market in Niger is the emergence of mobile lending platforms. With the high mobile penetration rate in the country, these platforms allow borrowers to apply for loans directly from their smartphones. This convenience and accessibility have contributed to the rapid growth of mobile lending in Niger. Furthermore, mobile lending platforms often use alternative data sources to assess borrowers' creditworthiness, enabling them to reach a wider pool of potential borrowers who may not have a traditional credit history.

Local special circumstances: Niger is a country with a large unbanked population, meaning that a significant portion of the population does not have access to traditional banking services. Marketplace lending platforms have filled this gap by providing an alternative source of credit for these underserved consumers. The convenience and accessibility of these platforms make them particularly well-suited to meet the needs of the unbanked population in Niger.

Underlying macroeconomic factors: The growth of marketplace lending (consumer) in Niger can be attributed to several underlying macroeconomic factors. Firstly, the country has experienced a stable economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has created a demand for credit among consumers, which marketplace lending platforms have been able to meet. Secondly, the high mobile penetration rate in Niger has played a significant role in the growth of marketplace lending. With more and more people having access to smartphones and the internet, the potential customer base for marketplace lending platforms has expanded. This has allowed these platforms to reach a larger number of borrowers and facilitate more loans. In conclusion, the marketplace lending (consumer) market in Niger is experiencing significant growth due to customer preferences for convenience and accessibility, the emergence of peer-to-peer and mobile lending platforms, the country's large unbanked population, and underlying macroeconomic factors such as stable economic growth and high mobile penetration rate.

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.