According to a new report Global Digital Lending Platform Market, published by KBV Research, The Global Digital Lending Platform Market size is expected to reach $11.6 billion by 2025, rising at a market growth of 20.3% CAGR during the forecast period. The advent of innovative technologies like block chain, artificial intelligence (AI), machine learning (ML), and robotic process automation helps financial institutions strengthen customer data security and make paperless loan processing transparent. Digital lending innovations have revolutionized financial sector companies and helped end-use industries including banks, credit unions, and insurance firms streamline their processes and improve the quality of their services.
The Solutions market dominated the Global Digital Lending Platform Market by Component 2018, and would continue to be a dominant market till 2025, growing at a CAGR of 19.2 % during the forecast period. The Services market experiencing significant growth rate CAGR of 22.4% during (2019 - 2025).
The on-premise segment dominated the market in 2018 and over the forecast period, it is expected to see remarkable growth. The growing number of data breaches and cyber-attacks encourages financial institutions to introduce digital lending platforms on-premise to reduce cyber risk. The Cloud market is expected to witness a CAGR of 23.7% during (2019 - 2025).
The bank segment was dominant in the market for the digital lending platform and is projected to maintain its dominance over the forecast period. Dominance can be attributed to implementing digitalization and growing banks' emphasis on digitizing their financial services, accompanied by strict government regulations. The Insurance Companies market is expected to witness a CAGR of 21.2% during (2019 - 2025). The Peer-to-Peer Lending market would witness a CAGR of 23.5% during (2019 - 2025). Additionally, The Credit Unions market is anticipated to witness CAGR of 21.8% during (2019 - 2025).
The North America market dominated the Global Digital Lending Platform Market by Region 2018. The regional market for Asia Pacific is expected to achieve substantial growth over the forecast period. This growth can be attributed to the region's growing number of fin-tech firms. The increasing number of smartphone users and the high penetration of the region's internet users are likely to drive the region's market growth.
Structural Insights: https://www.kbvresearch.com/digital-lending-platform-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Ellie Mae, Inc., Fidelity Information Services (FIS), Inc., Fiserv, Inc., Newgen Software Technologies Limited, Pegasystems, Inc., Roostify, Inc., Sigma Infosolutions Ltd., Tavant Technologies, Inc., Wizni, Inc., Temenos AG, and Abrigo, Inc.
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