Definition:
Reward-Based Crowdfunding is a financing form independent from financial institutions, location of the campaign creator or investor. Reward-Based Crowdfunding campaigns can be initiated for a wide range of different purposes such as product launches, art-, music- and film-financing, software development, scientifc research etc. Usually there is a financing goal defined by funding volume and time to reach this goal for every campaign. The campaign creator publishes engaging content (e.g. photos, videos, text) that explain the goal and motivation of the fundraising. Almost everyone can participate in reward-based crowdfunding campaigns as an investor. The only prerequisite is a valid payment account.Additional Information:
Key players in the reward-based crowdfunding campaigns are Kickstarter and Indiegogo.Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Mar 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
Most recent update: Oct 2024
Source: Statista Market Insights
The Crowdfunding market in Canada has been experiencing significant growth in recent years.
Customer preferences: Canadian consumers are increasingly turning to crowdfunding as a way to support innovative projects and businesses. They are attracted to the idea of being able to contribute to ideas and ventures that they believe in, and crowdfunding provides them with a platform to do so. Additionally, crowdfunding allows individuals to feel a sense of ownership and connection to the projects they support, which is appealing to many Canadians.
Trends in the market: One of the key trends in the Canadian crowdfunding market is the rise of equity crowdfunding. This allows individuals to invest in businesses in exchange for equity or shares. Equity crowdfunding has gained popularity in Canada due to changes in regulations that have made it easier for businesses to raise capital through this method. This trend has opened up new opportunities for both entrepreneurs and investors, and has contributed to the overall growth of the crowdfunding market in Canada. Another trend in the Canadian crowdfunding market is the increasing use of crowdfunding for social causes and charitable projects. Canadians are known for their generosity and willingness to support causes that they believe in, and crowdfunding provides them with a convenient and accessible way to do so. This trend is particularly evident in the non-profit sector, where organizations are using crowdfunding to raise funds for various initiatives and projects.
Local special circumstances: One of the unique aspects of the Canadian crowdfunding market is the presence of regional crowdfunding platforms. While there are several national crowdfunding platforms in Canada, there are also platforms that cater specifically to certain regions or provinces. This reflects the diverse nature of the Canadian market and the different needs and preferences of consumers in different regions. These regional platforms often focus on supporting local businesses and projects, which resonates with Canadian consumers who value local entrepreneurship and community development.
Underlying macroeconomic factors: The growth of the crowdfunding market in Canada can be attributed to several underlying macroeconomic factors. Firstly, Canada has a strong entrepreneurial culture, with many individuals seeking to start their own businesses or pursue innovative projects. Crowdfunding provides these entrepreneurs with an alternative source of funding, allowing them to bring their ideas to life. Secondly, the regulatory environment in Canada has become more supportive of crowdfunding in recent years. Changes in securities regulations have made it easier for businesses to raise capital through crowdfunding, particularly through equity crowdfunding. This has helped to fuel the growth of the crowdfunding market and attract more entrepreneurs and investors to the space. Lastly, the increasing use of technology and the widespread adoption of the internet have made crowdfunding more accessible to Canadians. The ease of creating and promoting crowdfunding campaigns online has made it easier for individuals and businesses to reach a wider audience and attract support for their projects. This has contributed to the overall growth of the crowdfunding market in Canada.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights