The P2P lending market is forecast to reach $370 billion by 2025, after growing at a CAGR of 5.6% during forecast period 2019-2025. The growth in the [FURL=https://www.industryarc.com/PressRelease/1648/P2P-Lending-Market-Research.html]P2P Lending market[/FURL] can be attributed to increasing transparency in P2P lending with technologies such as blockchain and smart contracts being incorporated into lending platforms.The P2P lending market is poised to witness accelerated growth owing to increased awareness among the public regarding the lower rates of interests and greater transparency offered by lending platforms, as compared to financial institutions. The real estate application is expected to witness the fastest growth at a CAGR of 14.7% during the forecast period. The real estate industry is looking at P2P lending as the best alternative to traditional financial institutions. Real estate projects often require large amounts of investment which makes it difficult for developers to acquire loans from financial institutions. This is a major reason driving developers to opt for P2P lending platforms. Hence, growth in the real estate sector will offer opportunities for the P2P lending market.
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Blockchain based P2P Lending
Blockchain technology eliminates intermediaries in the P2P lending process. Hence, adoption of blockchain in P2P lending will make the entire process transparent and reliable for both lenders and borrowers. The increased transparency is expected to help the declining market in China, which is severely dented by fraudulent activities, as well as weakened investor and borrower sentiments. Hong Kong-based Alchemy Coin is a blockchain-based P2P lending market place that facilitates instant and direct lending between borrowers and lenders by leveraging blockchain and smart contracts.
The Major Players in this Market Include
Major players in the P2P lending market include Upstart, Funding Circle, LendingTree, Prosper Lending, LendingClub, Peerform, Mintos, Grupeer, Circleback Lending, Zopa, Social Finance Inc., and Kiva Microfunds.
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