Key regions: Germany, Brazil, Australia, Israel, United States
The Crowdfunding market in Iran has been experiencing significant growth in recent years, driven by customer preferences for alternative financing options and the unique local circumstances in the country.
Customer preferences: In Iran, there is a growing demand for alternative financing options, as traditional banking services may not always be accessible or suitable for individuals and small businesses. Crowdfunding provides an opportunity for Iranians to raise funds for various purposes, including business ventures, social projects, and personal needs. The ease of use and convenience of online platforms have made crowdfunding an attractive option for many Iranians.
Trends in the market: One of the key trends in the Iranian crowdfunding market is the rise of reward-based crowdfunding. This type of crowdfunding allows individuals or businesses to offer rewards or incentives to backers in exchange for their financial support. This trend is driven by the desire of Iranians to support local initiatives and receive tangible benefits in return. Additionally, equity-based crowdfunding is gaining traction in Iran, as it allows investors to become shareholders in promising startups or businesses.
Local special circumstances: Iran has a young and tech-savvy population, which has contributed to the growth of crowdfunding in the country. Many Iranians are active users of social media platforms and are familiar with online transactions, making it easier for them to participate in crowdfunding campaigns. Furthermore, the Iranian government has shown support for crowdfunding initiatives, recognizing the potential of this financing model to stimulate economic growth and innovation.
Underlying macroeconomic factors: Several macroeconomic factors have contributed to the development of the crowdfunding market in Iran. Economic sanctions imposed on the country have limited access to traditional financing options, leading individuals and businesses to seek alternative sources of funding. Additionally, the high rate of unemployment in Iran has created a need for job creation and entrepreneurship, which crowdfunding can help address. The Iranian government has also implemented policies to encourage the growth of small and medium-sized enterprises, further driving the demand for crowdfunding. In conclusion, the Crowdfunding market in Iran is experiencing growth due to customer preferences for alternative financing options, the rise of reward-based and equity-based crowdfunding, the tech-savvy population, government support, and underlying macroeconomic factors such as economic sanctions and unemployment. These factors have created a favorable environment for crowdfunding to thrive in Iran, providing individuals and businesses with new opportunities for funding and investment.
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.
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