Digital Lending Platform Market Is Witnessing High Growth Of $15.3 Billion By 2026 “The global digital lending platform market is projected to account for USD 15.3 billion by the end of forecasted year 2026, registering CAGR of 20.7% over the forecast period, from 2019 to 2026.”
The report on the Digital Lending Platform market report includes future industry Trends, Size, Share, Past, current data and deep analysis, and forecast. This market offers a coordinated and orderly methodology for the foremost important aspects that have influenced the market within the past and also the forthcoming market prospects on which the organizations can rely on before investing. It furnishes with an inexpensive examination of the marketplace for better decision-making and assessment to put resources into it. The report analyses the weather and a whole detailed outlook of the foremost players that are likely to feature to the demand within the worldwide Digital Lending Platform market within the upcoming years. Main features of the report: • To provide detailed analysis of the market structure together with forecast of the varied segments and sub-segments of the world Digital Lending Platform Market. • A perfect background analysis, which has an evaluation of the parent market. • Important changes in market dynamics • Track and analyze competitive developments like joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments within the global Digital Lending Platform Market. • Emerging niche segments and regional markets The global digital lending platform market is projected to account for USD 15.3 billion by the end of forecasted year 2026, registering CAGR of 20.7% over the forecast period, from 2019 to 2026. Digitalization is the most common strategy adopted by financial institutions to enhance their customer services and to expand their core processing competencies. In financial institutions, digitalization in financing services helps them in the disbursement process, as well as in taking better decisions regarding loan management. The growing emphasis of financial institutions on digitalization to increase business productivity for better outcomes is projected to witness a positive impact on market growth.
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Favourable government initiatives to promote the digital lending platform among businesses is anticipated to fuel the market growth during the forecast period. For example, in 2018, the Government of India introduced this platform for small, medium, and micros businesses in India. Digital lending platform allows these businesses to apply up to 10 million loan within 59 minutes. In addition, regulators by various economies including Hong Kong, U.K. Singapore, Australia, and U.S. have formed sandboxes to support innovation in financial services. Such initiatives adopted by regulators across several nations are expected to boost the growth of digital lending platform market over the forecast period. Advent of new technologies such as Artificial Intelligence (AI), block chain, robotic process automation, and Machine Learning (ML) is helping the financial institutions to make loan processing transparent without paperwork and helps to secure customer’s personal information. The technological advancement in digital lending platform has reshaped the businesses in the financial sector along with streamlining their operations. Further, it has improved the quality of services among end-use industries such as insurance companies, credit unions, and banks. For example, AI-based digital lending platform has capabilities to minimalize loan processing time and operating cost, thereby, expected to drive the market growth in the next seven years.
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Further key findings from the report suggest: • Among solutions, the lending analytics segment is projected to grow at the highest CAGR of over 21.0% over the forecast period. This growth is attributed to growing adoption of several technologies such as artificial intelligence, machine learning, and IoT. • The risk management segment is anticipated to exhibit with fastest CAGR of more than 23.0% during the forecast period. This is due to rising demand to proactively respond to several cyber-attacks and growing need to bring back all financial activities to normal state.
• The cloud segment is projected to grow with higher CAGR from 2019 to 2026, as it reduces the up-front costs among new entrants in this industry. • Peer-to-peer category is projected to emerge as the highest growth segment over the next few years due to growing number of digital savvy consumers coupled with emergence of paperless financial services for retail propositions. • In 2018, North America dominated the global digital lending platform market owing to the presence of a large number of tech giants coupled with robust infrastructure for this industry. • FIS; Sigma Infosolutions; Newgen Software; Pegasystems Inc.; Roostify; Nucleus Software; Ellie Mae, Inc.; Wizni, and Tavan are key players operating in the market.
Million Insights has segmented the global digital lending platform market on the basis of solution, service, deployment, end use, and region: Digital Lending Platform Solution Outlook (Revenue, USD Billion, 2015 - 2026) • Business Process Management • Lending Analytics • Loan Management • Loan Origination • Risk & Compliance Management • Others Digital Lending Platform Service Outlook (Revenue, USD Billion, 2015 - 2026) • Design & Implementation • Training & Education • Risk Assessment • Consulting • Support & Maintenance Digital Lending Platform Deployment Outlook (Revenue, USD Billion, 2015 - 2026)
• On-premise • Cloud Digital Lending Platform End-use Outlook (Revenue, USD Billion, 2015 - 2026) • Banks • Insurance Companies • Credit Unions • Savings & Loan Associations • Peer-to-Peer Lending • Others Digital Lending Platform Regional Outlook (Revenue, USD Billion, 2015 - 2026) • North America • U.S. • Canada • Europe • U.K. • Germany • Asia Pacific • China • India • Japan • Latin America • Brazil • Middle East & Africa Table of Contents:Chapter 1 Methodology and Scope Chapter 2 Executive Summary Chapter 3: Market Variables, Trends & Scope Chapter 4 Digital Lending Platform: Product Estimates & Trend Analysis Chapter 5 Digital Lending Platform: Application Estimates & Trend Analysis Chapter 6 Digital Lending Platform: End-use Estimates & Trend Analysis Chapter 7 Digital Lending Platform: Industrial End-use Estimates & Trend Analysis Chapter 8 Digital Lending Platform: Regional Estimates & Trend Analysis Chapter 9 Competitive Landscape Chapter 10 Digital Lending Platform: Manufacturers Company Profiles
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