Market Insights Financial Capital Raising Digital Capital Raising

Marketplace Lending (Consumer) - United States

United States

Total transaction value in the MarketMarketplace Lending (Consumer) market market in the United States is expected to hit €25.70bn in 2024.
When compared globally, the United States leads with a transaction value of €25.70bn projected for 2024.
Key Market Indicators offer a glimpse into the social and economic landscape of the United States, shedding light on market-specific trends.
These indicators, combined with information from statistical agencies, trade organizations, and businesses, form the basis for Statista's market projections.
In the United States, Marketplace Lending for consumer capital raising is experiencing a surge in institutional investor participation, driving competition and innovation in the sector.

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

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Analyst Opinion

The Marketplace Lending (Consumer) market in United States has been experiencing significant growth and development in recent years.

Customer preferences: Customers in the United States have shown a strong preference for marketplace lending platforms due to their convenience and accessibility. These platforms provide borrowers with quick and easy access to funds, often with lower interest rates compared to traditional banks. Additionally, the ability to apply for loans online and receive funds within a short period of time has made marketplace lending an attractive option for many consumers.

Trends in the market: One of the key trends in the marketplace lending market in the United States is the increasing popularity of peer-to-peer lending platforms. These platforms connect borrowers directly with individual investors, cutting out the middleman and reducing costs for both parties. This trend has been driven by the rise of technology and the internet, which has made it easier for borrowers and lenders to connect and transact. Another trend in the marketplace lending market is the focus on niche lending categories. Many marketplace lending platforms in the United States have started to specialize in specific types of loans, such as student loans, small business loans, or real estate loans. This specialization allows these platforms to better cater to the specific needs of borrowers in these categories and provide them with tailored loan products.

Local special circumstances: The United States has a well-developed financial services industry, which has helped to foster the growth of marketplace lending in the country. The presence of a large number of banks and financial institutions has created a competitive environment, driving innovation and pushing marketplace lending platforms to offer more attractive loan products and services. Additionally, the United States has a strong culture of entrepreneurship and innovation, which has also contributed to the growth of marketplace lending. Many small businesses and startups in the country have turned to marketplace lending platforms as a source of funding, as they may have difficulty accessing traditional bank loans due to their limited operating history or lack of collateral.

Underlying macroeconomic factors: The growth of the marketplace lending market in the United States can also be attributed to underlying macroeconomic factors. In recent years, interest rates in the country have been relatively low, making borrowing more affordable for consumers. This has created a favorable environment for marketplace lending platforms, as borrowers are more likely to seek out alternative lending options when traditional bank loans are less attractive. Furthermore, the economic recovery following the global financial crisis has led to an increase in consumer confidence and spending. As consumers have become more willing to take on debt, marketplace lending platforms have been able to capitalize on this trend and offer loans to individuals who may not have qualified for traditional bank loans. In conclusion, the Marketplace Lending (Consumer) market in the United States has experienced significant growth and development due to customer preferences for convenience and accessibility, as well as the presence of a well-developed financial services industry and underlying macroeconomic factors. The increasing popularity of peer-to-peer lending platforms and the focus on niche lending categories are key trends driving the market forward.

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.