Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - Australia

Australia

The total transaction value in the MarketMarketplace Lending (Consumer) market market in Australia is projected to reach €171.20m in 2024.
When compared globally, it is evident that the United States leads with a transaction value of €25,440m in 2024.
Key Market Indicators offer a glimpse into the social and economic landscape of Australia and offer valuable insights into specific market trends.
These indicators, combined with data from statistical offices, trade associations, and businesses, form the basis for the Statista market models.
Australia's Marketplace Lending sector is seeing a rise in alternative funding options for consumers, reshaping the Capital Raising landscape.

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

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Analyst Opinion

The Marketplace Lending (Consumer) market in Australia is experiencing significant growth and development.

Customer preferences: In recent years, there has been a shift in customer preferences towards online lending platforms. This can be attributed to the convenience and ease of access offered by these platforms. Consumers are increasingly turning to marketplace lending as a viable alternative to traditional banks and financial institutions. The ability to apply for loans online, receive quick approvals, and access funds within a short period of time has made marketplace lending an attractive option for many Australians.

Trends in the market: One of the key trends in the marketplace lending market in Australia is the increasing demand for personal loans. Australians are seeking personal loans for a variety of purposes, including debt consolidation, home improvements, and travel. The availability of online lending platforms has made it easier for consumers to access personal loans, leading to an increase in demand. Another trend in the market is the rise of peer-to-peer lending platforms. These platforms connect borrowers directly with individual lenders, cutting out the need for traditional financial intermediaries. This has resulted in lower interest rates for borrowers and higher returns for lenders, making peer-to-peer lending an attractive option for both parties.

Local special circumstances: Australia has a highly developed financial services sector, which has contributed to the growth of the marketplace lending market. The country has a strong regulatory framework that ensures consumer protection and promotes fair lending practices. This has instilled confidence in consumers and encouraged them to explore marketplace lending as a viable alternative to traditional lenders.

Underlying macroeconomic factors: The growth of the marketplace lending market in Australia can also be attributed to underlying macroeconomic factors. The country has experienced a period of economic stability and low interest rates, which has made borrowing more affordable for consumers. Additionally, the rise of the sharing economy and the increasing prevalence of online platforms have created a favorable environment for marketplace lending to thrive. In conclusion, the Marketplace Lending (Consumer) market in Australia is experiencing significant growth and development. Customer preferences have shifted towards online lending platforms, driven by the convenience and ease of access they offer. The demand for personal loans and the rise of peer-to-peer lending platforms are key trends in the market. Australia's highly developed financial services sector, strong regulatory framework, and underlying macroeconomic factors have contributed to the growth of the marketplace lending market in the country.

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.