Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - Spain

Spain

The total transaction value in the MarketMarketplace Lending (Consumer) market market in Spain is forecasted to reach US$183.8m in 2024.
When compared globally, it is noted that the highest transaction value is anticipated the United States (US$26,720m in 2024).
Key Market Indicators offer a glimpse into the social and economic landscape of the country and offer valuable insights into market-specific advancements.
These indicators, in conjunction with information from statistical offices, trade associations, and businesses, form the basis for the Statista market models.
In Spain, the consumer marketplace lending sector is experiencing a surge in digital platforms offering innovative capital-raising solutions to individuals.

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

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Analyst Opinion

Marketplace lending (consumer) in Spain has been experiencing significant growth in recent years. This can be attributed to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Spanish consumers are increasingly turning to marketplace lending platforms for their borrowing needs. This is primarily driven by the convenience and ease of accessing credit through these platforms. With traditional banks tightening their lending criteria, marketplace lending offers a viable alternative for individuals seeking loans. Additionally, the ability to compare multiple loan offers and choose the most favorable terms is appealing to borrowers.

Trends in the market: One notable trend in the marketplace lending market in Spain is the rise of peer-to-peer lending platforms. These platforms connect individual lenders directly with borrowers, eliminating the need for traditional financial intermediaries. This trend has gained traction due to the lower interest rates offered by peer-to-peer lenders compared to traditional banks. Furthermore, the streamlined application and approval processes offered by these platforms have made them increasingly popular among borrowers. Another trend in the market is the emergence of specialized marketplace lending platforms catering to specific industries or purposes. For example, there are platforms that focus on providing loans for small businesses, while others specialize in financing renewable energy projects. These specialized platforms are able to tailor their offerings to the unique needs of their target borrowers, creating a niche market within the broader marketplace lending industry.

Local special circumstances: Spain has a large population of small and medium-sized enterprises (SMEs), which often face challenges in accessing financing from traditional banks. Marketplace lending platforms have stepped in to fill this gap by providing SMEs with alternative sources of funding. This has contributed to the growth of the marketplace lending market in Spain, as these platforms offer more flexible lending criteria and faster approval processes for SMEs. Furthermore, the economic downturn in Spain following the global financial crisis led to a decrease in lending by traditional banks. This created an opportunity for marketplace lending platforms to enter the market and provide much-needed credit to individuals and businesses. As the economy has recovered, marketplace lending has continued to thrive, as borrowers appreciate the speed and convenience offered by these platforms.

Underlying macroeconomic factors: Spain's economic recovery and low interest rate environment have played a significant role in the growth of the marketplace lending market. As the economy has improved, consumer confidence has increased, leading to greater demand for credit. Additionally, the low interest rate environment has made borrowing more affordable, encouraging individuals and businesses to seek financing. Overall, the marketplace lending (consumer) market in Spain is experiencing growth due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers continue to seek more convenient and flexible borrowing options, marketplace lending platforms are likely to play an increasingly important role in the financial landscape of Spain.

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.