Europe Peer to Peer (P2P) Lending Market Size By Type (Consumer Lending, Business Lending), By End-User (onsumer Credit Loans, Small Business Loans, Student Loans, Real Estate Loans), And Forecast
Europe Peer to Peer (P2P) Lending Market Size By Type (Consumer Lending, Business Lending), By End-User (onsumer Credit Loans, Small Business Loans, Student Loans, Real Estate Loans), And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Europe Peer to Peer (P2P) Lending Market Size And Forecast
Europe Peer to Peer (P2P) Lending Market size was valued at USD 29.823 Billion in 2024 and is projected to reach USD 180.853 Billion by 2031, growing at a CAGR of 25.27 % from 2024 to 2031.
Individuals and businesses are increasingly adopting peer-to-peer lending practices due to the low operating costs and market risk, which will drive the European market’s growth in the coming years. The Europe report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Europe Peer to Peer (P2P) Lending Market Definition
Think of peer-to-peer lending, or crowdlending, as skipping the bank and borrowing directly from people like you and me! Instead of one big loan, businesses can get funding from potentially dozens or even hundreds of individual lenders. These lenders often compete by offering different interest rates, and borrowers get to choose the best deal – usually the one with the lowest rate. These connections all happen through online platforms. Now, don't worry, these platforms do their homework! They check out each loan request carefully, because they want to protect both the businesses seeking funds and the investors providing them. That means things like looking at financial records and past performance. One of the big upsides is that interest rates can be more flexible. Plus, loan sizes can vary quite a bit, which helps meet different needs. And because you can start with a small loan, lots of people can participate as lenders! Repayment is usually easydirect debits go to the platform, and they take care of distributing the payments to all the lenders.
Forget those old-school banks with all their branches and staff! Peer-to-peer lending is different. It's all happening online, so no need for brick-and-mortar buildings. Because P2P lending platforms use the internet, they're super efficient.
Plus, the data is often pretty transparent. You can hop onto their websites and get a much better sense of what loans are out there. They make money by charging fees to borrowers and taking a cut from investor repayments, which is why we expect to see this market keep growing.
And get this these platforms use tech to quickly figure out the risk and set interest rates, helping everyone make smarter decisions, which also fuels growth. Finally, with more and more people using smartphones and getting online around the world, online lending has exploded, further boosting the market.
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Europe Peer to Peer (P2P) Lending Market Overview
More and more people and companies are jumping on the peer-to-peer lending bandwagon! Why? Well, it keeps costs down and the market risks are lower, so it's expected to really boost the European market in the next few years. Think of it as a modern alternative to going to the bank, especially if you're looking for small consumer credit. P2P lending is where investors – regular folks like you and me – basically give loans (or promise to) directly to borrowers through a P2P platform. The cool thing is, lenders using these platforms might actually earn a better return on their investment compared to sticking their money in a bank deposit or other traditional financial instruments. This popularity is largely because P2P lending doesn't need fancy infrastructure or a huge workforce like those old-school banks.
The UK's P2P lending scene really took off, thanks to the Financial Conduct Authority's tough rules. And let's not forget Germany! It's a huge player in the European peer-to-peer lending world. Since 2016, it's been the second-biggest market in Europe (even including the UK!), making up over 5% of all the peer-to-peer lending action. These platforms are pretty smart too – they use tech to quickly figure out risk levels and set interest rates for borrowers. This helps everyone make decisions faster, which is a big win for the market. Plus, with more and more people using smartphones and getting online, the whole online lending process has become super popular, really boosting the growth of the European peer-to-peer lending market. They use tech to quickly figure out risk levels and set interest rates for borrowers. This helps everyone make decisions faster, which is a big win for the market. Plus, with more and more people using smartphones and getting online, the whole online lending process has become super popular, really boosting the growth of the European peer-to-peer lending market.
Europe Peer to Peer (P2P) Lending MarketSegmentation Analysis
The Europe Peer to Peer (P2P) Lending Market is segmented on the basis of Type and End-User.
Europe Peer to Peer (P2P) Lending Market, By Type
• Consumer Lending• Business Lending
To Get Summarized Market Report By Type-
Think of the lending market as having two main branchesConsumer Lending and Business Lending. Right now, Consumer Lending is the bigger piece of the pie, and it's expected to keep growing fast, around 24.45% each year! Basically, Consumer Lending is all about providing money for things like your family, personal needs, or household expenses. You can get these loans from places like your bank or even online lending platforms. This covers everything from your home and auto loans to a Home Equity Line of Credit and even those personal loans you might use for a vacation or home improvement. A lot of these are "unsecured," meaning you don't need to put anything up as collateral. But some, like car loans, usually do require you to pledge the vehicle as assurance you'll pay it back.
Europe Peer to Peer (P2P) Lending Market, By End-User
• Consumer Credit Loans• Small Business Loans• Student Loans• Real Estate Loans
To Get Summarized Market Report By End-User-
When we look at who's actually using these loans – the End-Users – the market breaks down into a few key areasConsumer Credit Loans, Small Business Loans, Student Loans, and Real Estate Loans. Right now, Small Business Loans are leading the pack, holding the biggest slice of the market back in 2020. And we're expecting them to keep growing at a steady pace, around 4.07% each year for the foreseeable future. Think of a small business loan as a financial tool designed specifically for small to medium-sized businesses. If you're just starting out or looking to grow, you'll likely need some extra cash to make it happen. That's where these loans come in – they let you get the money you need without giving up ownership in your company. They help entrepreneurs get their ideas off the ground and stay in charge. Plus, it's worth remembering that Small and medium-sized enterprises (SMEs) are the backbone of the global economy, making up around 90% of all companies and providing about half of all jobs. And that's especially true in the European Union, where SMEs represent a whopping 99% of all businesses.
Key Players
The "Europe Peer to Peer (P2P) Lending Market" report gives you the inside scoop on the European market, focusing on the big names like On Deck Capital, Inc. (Enova International), LendingTree, Funding Circle Holding Plc., Avant Inc., and Kabbage Inc. We dive deep into these major players, with our analysts offering insights into their financial statements, product comparisons, and a full SWOT analysis. Plus, we break down the competitive scene, highlighting key strategies, market share, and how these companies stack up against each other.
Key Developments
Company Name
Key Development
Description
On Deck Capital, Inc. (Enova International).
Acquisition
• Enova International has acquired Pangea Universal Holdings, a Chicago-based payments platform offering mobile international money transfer services.
LendingTree
Acquisition
• On February 28, 2020, the company acquired an equity interest in Stash Financial, Inc.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
On Deck Capital, Inc. (Enova International), LendingTree, Funding Circle Holding Plc., Avant Inc., and Kabbage Inc.
SEGMENTS COVERED
By Type
By End-User
CUSTOMIZATION SCOPE
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