Market Size –
The alternative finance market size has grown exponentially in recent years. It will grow from $216.08 billion in 2023 to $260.65 billion in 2024 at a compound annual growth rate (CAGR) of 20.6%. The growth in the historic period can be attributed to the rise of online platforms and social media, increasing adoption of peer-to-peer lending, increasing use of cryptocurrency and blockchain, rise in sustainability and green finance, and rise of embedded finance.
The alternative finance market size is expected to see exponential growth in the next few years. It will grow to $559.92 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%. The growth in the forecast period can be attributed to the rising number of technology-driven lenders, growing adoption of decentralized finance, increasing application of artificial intelligence, growing popularity of initial coin offerings, and growing microfinance activities. Major trends in the forecast period include technological advancements, utilization of AI and data analytics, rise in adoption of internet-of-things, and blockchain-based alternative lending platforms.
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Scope Of Alternative Finance Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Alternative Finance Market Overview
Market Drivers –
The increasing number of small and medium-sized businesses is expected to propel the growth of the alternative finance market going forward. Small and medium-sized businesses (SMBs) are companies whose size falls within specific parameters regarding number of employees, annual revenue, or assets. The growing number of small and medium-sized businesses (SMBs) is due to several factors, such as crowdfunding, peer-to-peer lending, tax benefits, and business development programs. Alternative finance helps small and medium-sized businesses (SMBs) by providing diverse and accessible funding options that address some of the limitations and challenges of traditional financing methods. For instance, in October 2023, according to the Department for Business and Trade, a UK-based government department, the number of small and medium-sized businesses (SMBs) grew from 5.50 million in 2022 to 5.54 million in 2023. Therefore, the increasing number of small and medium-sized businesses drives the growth of the alternative finance market.
Market Trends –
Major companies operating in the alternative finance market are focused on developing innovative technologies, such as alternative financing platforms, to sustain their position in the market. Alternative financing platforms are digital or online platforms that enable individuals, businesses, and organizations to raise funds and acquire capital through methods like crowdfunding, peer-to-peer lending, invoice financing, equity crowdfunding, and other innovative financial services, bypassing traditional banking channels. For instance, in July 2021, Copernicus Group, a Spain-based asset management company, announced the launch of its alternative financing platform, Copernicus Credit. This platform offers diverse, innovative financial services, including crowdfunding, peer-to-peer lending, and specialized investment opportunities. Users can benefit from streamlined processes that simplify fundraising efforts and connect them directly with potential investors or lenders. The platform prioritizes user-friendly interfaces and robust security measures to ensure a safe and efficient transaction environment.
The alternative finance market covered in this report is segmented –
1) By Type: Peer-To-Peer Lending, Crowdfunding, Invoice Trading, Other Types
2) By Business Model: Traditional Lending, Alternate Marketplace Lending
3) By End User: Enterprise, Individuals
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Regional Insights –
North America was the largest region in the alternative finance market in 2023. The regions covered in the alternative finance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the alternative finance market are PayPal Holdings Inc., Rocket Mortgage, Bread Financial Holdings, Coinbase Global Inc., Social Finance Inc., Affirm Inc., LendingClub Corporation, OnDeck Capital Inc., Fiverr International Ltd., Betterment Holdings Inc., Funding Circle Holdings plc, Prosper Marketplace Inc., RateSetter, Wealthfront Corporation, OurCrowd Ltd., Freelancer Technology Pty Limited, FundingKnight, Indiegogo Inc., Landbay Partners Limited, Assetz Capital, Kiva Microfunds, Kickstarter PBC
Table of Contents
1. Executive Summary
2. Alternative Finance Market Report Structure
3. Alternative Finance Market Trends And Strategies
4. Alternative Finance Market – Macro Economic Scenario
5. Alternative Finance Market Size And Growth
…..
27. Alternative Finance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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