Peer-to-Peer Lending Market: Size, Growth, Regional Analysis, And Market Analysis
Peer to Peer lending: Peer-to-peer lending is the practice of a person borrowing money from another person without the participation of a bank or other financial organization. The primary goal of peer-to-peer lending is to increase returns for lenders while lowering interest rates for borrowers. Furthermore, because P2P lending is exclusively conducted online, it aids in providing quick and convenient loans. Market Analysis: The global Peer-to-Peer Lending Market was valued at $67.93 billion in 2019 and is expected to increase at a CAGR of 29.7% from 2020 to 2027, reaching $558.91 billion. The rise of the worldwide peer-to-peer lending business is fueled by lower operational costs and decreased market risk for both lenders and borrowers. Furthermore, digitalization in the banking sector increases transparency compared to traditional banking systems, which is projected to drive market growth. The growth of the Peer-to-Peer Lending Market is hampered by the risk of losing money, the i