Digital Lending Platform Market Size To Be Valued At $15.3 Billion By 2026 Owing To Rising Emphasis On Digitalization Of Financial Processes To Increase Business Productivity | Million Insights
FELTON, Calif., Feb. 8, 2021 /PRNewswire/ -- The global digital lending platform market is projected to account for USD 15.3 billion by the end of forecasted year 2026, according to new report by Million Insights, 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.
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.
Please click here to get the sample pdf and find more details on "Digital Lending Platform Market" Report 2026.
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.
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.
Browse 120 page research report with TOC on "Global Digital Lending Platform Market" at: https://www.millioninsights.com/industry-reports/global-digital-lending-platform-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
Explore the Latest Press Releases by Million Insights:
-- Anti-Fatigue Cosmetics Market - The global anti-fatigue cosmetics market
size is expected to register revenue of USD 18.9 Million by the end of
2025. It is expected to grow with a CAGR of 4.5% from 2019 to 2025. This
growth can be attributed to increasing skin related diseases owing to
work life imbalance, unhealthy eating habits and stressful lifestyle.
-- Chandelier Market - The global chandelier market size is anticipated to
reach USD 8.5 billion by the end 2025. The market is anticipated to grow
at a CAGR of 3.4% during the forecast period, 2019 to 2025. This growth
is attributed to rising demand for decorative lighting fixtures and
rising consumption from residential as well as commercial sector.
-- Watermelon Seeds Market - The global watermelon seeds market size is
projected to attain USD 751.0 million by the end of 2025. It is
estimated to grow at a CAGR of 5.8% from 2019 to 2025. Rising incidences
of serious health issues such as coronary heart diseases, obesity, and
others due to lack of physical activity in lifestyles of people and poor
eating habits are the factors expected to drive the demand for
watermelon seeds.
-- Sports Luggage Market - The global sports luggage market is anticipated
to reach USD 2.47 billion by the end 2025. The market is anticipated to
grow at a CAGR of 3.5% during the forecast period, 2019 to 2025. This
growth is attributed to increasing participation and interest in various
sporting activities coupled with rising consciousness for obesity in
children.
About Million Insights:
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Contact:
Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: sales@millioninsights.com
Web: https://www.millioninsights.com/
Follow Us: LinkedIn | Twitter
SOURCE Million Insights
