Peer to Peer Lending Market By Global Industry Size, Share, Trends, Opportunity and Forecast 2026 - TechSci Research
Global peer to peer lending market is valued at around $ 18 billion in 2019 and the market is poised to grow at CAGR of over 19% by 2026 due to increasing number of borrowers over the past few years. Peer to peer lending market allows borrowers to directly interact with the lender with the P2P lending platform. Use of such platforms helps to reduce costs by excluding operational expenses such as cost of staffing and maintenance, physical branches, among others, which is promoting the growth of the market. Moreover, a dvancements in the technology and low cost associated with operations is further driving the global peer to peer lending market. Nowadays, increasing student population is preferring loans at cheaper interest rate which is anticipated to promote the growth of peer to peer lending market until 2026. Additionally, increasing awareness pertaining to clearing personal debt as soon as possible is another reason for increased acceptance of peer to peer lending market, glob...