Report Ocean published a recovery-based report for Global LendTech Market that provides crucial details on company opportunities, growth plans, trends, innovations, the competitive landscape in 2022, and the geographic outlook. Based on relevant market and regional segmentation, a thorough assessment of this worldwide market includes the historical analysis of this market (from 2023 to 2030) and develops reliable and approximative timeline estimations up to 2030.
Global LendTech Market is valued at approximately USD 8 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 23.2% over the forecast period 2022-2029.
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LendTech refers to the application of an intuitive loan point-of-sale platform from banks, credit unions, and private lenders connecting to borrowers. There are certain benefits offered by digital lending platforms, including improved loan optimization, quicker decision-making, compliance with regulations and norms, and greater company efficiency. The increasing unmet financing needs of SMEs and growing internet penetration and adoption of smartphone devices are key factors driving the market growth.
With the rise of startup culture, the unmet financing needs of SMEs are increasing which is likely to drive the adoption of LendTech platforms and services over the forecast period. For instance – as per International Finance Corporation (IFC) estimates, 65 million businesses, or 40% of formal micro, small, and medium-sized enterprises (MSMEs) in developing nations, have an annual unmet financing need of $5.2 trillion, or 1.4 times the amount of worldwide MSME lending at present. The largest portion of the global finance gap (46%) is accounted for by East Asia and the Pacific, which is followed by Latin America and the Caribbean (23%) and Europe and Central Asia (15%). The gap volume varies greatly from one place to another. Particularly in the Middle East and North Africa, Latin America, the Caribbean, and the Caribbean have the largest ratios of the funding gap to potential demand, 87% and 88%, respectively. Also, growing digitization in BFSI sector and rising adoption of cloud services and automation in the lending process would create a lucrative growth prospectus for the market over the forecast period. However, the high cost of LendTech platforms and services stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global LendTech Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the increasing spending on digitization from leading banks and credit unions as well as presence of leading market players in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising expansion of digital banking units and growing emergence of private sector banks and non-banking financial institutions in the region.
Major market players included in this report are:
Visa Inc.
American Express Company
Finastra
Q2 Software, Inc.
Newgen Software Technologies Limited
Fis
Pegasystems Inc.
Fiserv, Inc.
Nelito Systems Pvt. Ltd.
Roostify, Inc.
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Recent Developments in the Market:
In January 2023, BUSINESSNEXT, launched its cloud-based Digital Lending Platform 3.0. Leveraging AI-driven automation, code-less digital journey designers, and private cloud landing zones. The platform aims to provide end-to-end modernized lending solutions with absolute regulatory compliance to deliver a superfast lending experience for banks and NBFCs.
Global LendTech Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component, Deployment Mode, Type, Organization Size, End-User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below.
By Component
Solution
Services
By Deployment Mode
On-Premises
Cloud
By Type
Consumer Lending
Business Lending
By Organization Size
Large Enterprises
Small and Medium-sized Enterprises
By End-User
Banks
Credit Unions
NBFCs
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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Some Questions Answered in the LendTech Market Report:
- What is the projected size of the global LendTech market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global LendTech industry?
- What are the major market trends that are affecting the expansion of the LendTech market?
- What obstacles must be overcome in order to achieve sustained growth in the LendTech market?
- What opportunities and threats do vendors in the global LendTech market face?
- What are the raw materials and manufacturing equipment used in the production of LendTech, and what is the manufacturing process?
- What are the different types and applications of LendTech, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the LendTech market?
- What factors are driving the growth of the LendTech market in the top regions worldwide?
- Who are the major players in the global LendTech market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the LendTech market?
- What are the main findings of a five forces analysis of the global LendTech market?
Here are the key highlights of the report:
- Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
- In-depth analysis of the competitive landscape, identifying key trends within the industry.
- Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER’s five forces.
- Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
- Guidance provided for new market entrants, assisting them in navigating the industry landscape.
- Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
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