Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - Slovakia

Slovakia

The total transaction value in the MarketMarketplace Lending (Consumer) market market in Slovakia is projected to reach US$13.85m in 2024.
When compared globally, it is notable that the highest transaction value is anticipated the United States (US$27,720m in 2024).
Key Market Indicators offer a comprehensive view of the social and economic landscape of Slovakia, providing valuable insights into market-specific trends.
These indicators, along with data from statistical offices, trade associations, and companies, form the basis for the Statista market models.
Slovakia's consumer marketplace lending sector is gaining traction in the capital raising market with innovative digital platforms attracting a growing number of investors.

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

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Analyst Opinion

The Marketplace Lending (Consumer) market in Slovakia has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Marketplace Lending (Consumer) market in Slovakia have shifted towards online platforms and digital solutions.

Customers are increasingly seeking convenience, transparency, and competitive interest rates when accessing loans. The rise of digital platforms has made it easier for borrowers to compare loan options and choose the one that best suits their needs. Additionally, the younger generation, who are more tech-savvy, are more inclined to use online lending platforms compared to traditional brick-and-mortar banks.

Trends in the market indicate that peer-to-peer lending has gained popularity in Slovakia. This form of lending allows individuals to lend money directly to borrowers, bypassing traditional financial institutions. Peer-to-peer lending platforms offer lower interest rates and faster loan approval processes compared to traditional banks, attracting borrowers who are looking for quick and affordable financing options.

The growth of peer-to-peer lending is also fueled by the increasing number of investors who are seeking higher returns on their investments in a low-interest-rate environment. Local special circumstances in Slovakia, such as a relatively high level of household debt and limited access to credit for certain segments of the population, have contributed to the development of the Marketplace Lending (Consumer) market. Many borrowers in Slovakia have turned to alternative lending platforms as a means to access credit when traditional banks have been reluctant to lend.

Additionally, the ease of use and accessibility of online lending platforms have made them particularly attractive to underserved populations, such as small business owners and individuals with limited credit history. Underlying macroeconomic factors, such as low interest rates and a favorable regulatory environment, have also played a role in the growth of the Marketplace Lending (Consumer) market in Slovakia. Low interest rates have made borrowing more affordable, encouraging individuals and businesses to seek financing options.

The regulatory environment in Slovakia has been supportive of the development of online lending platforms, providing a framework for these platforms to operate and ensuring consumer protection. In conclusion, the Marketplace Lending (Consumer) market in Slovakia is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. The shift towards online platforms, the rise of peer-to-peer lending, and the accessibility of credit for underserved populations are all contributing to the development of the market.

Additionally, low interest rates and a favorable regulatory environment are creating a conducive environment for the growth of the Marketplace Lending (Consumer) market in Slovakia.

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.