Market Overview:
The global digitization in lending market is expected to grow at a CAGR of over 16% during the forecast period from 2018 to 2030. The increasing demand for online and mobile banking services is one of the key factors driving the growth of this market. In addition, the growing adoption of digital technologies by lenders for faster and more efficient processing of loans is also contributing to the growth of this market. On computer digitization in lending, North America held the largest share in 2017 and is projected to maintain its dominance during the forecast period. This can be attributed to rising demand for online banking services in this region.
Product Definition:
The digitization of documents and data refers to the conversion of information from physical or analog form into a digital format that can be processed, stored, and transmitted by electronic means. The importance of digitization in lending is that it allows for the efficient handling and tracking of loans throughout their lifecycle.
On Computer Digitization in Lending:
On computer digitization in lending is the process of converting paper documents into digital format and maintaining all the records in electronic form. It helps to speed up the entire lending process, from loan application to payment processing. Owing to its benefits, it has become one of the most important tools for banks and financial institutions for managing their vast portfolios of loans.
On Smartphone Digitization in Lending:
On smartphone digitization in lending.
The global on smartphone digitization in lending and its usage in Digitization In Lending market size was valued at USD 0.0004 billion as of 2016. The increasing penetration of smartphones across the globe is expected to propel the growth over the forecast period. Additionally, rising demand for mobile banking services is also anticipated to drive industry growth over the next seven years.
Application Insights:
The business loans segment dominated the global digitization in lending market, accounting for more than 50.0% share of the total revenue in 2017. The growth can be attributed to an increase in demand for working capital by SMEs and large businesses across the globe. The availability of various funding options such as e-commerce, online retailing, social networks and online gaming has led to an increased demand for digital payment modes such as e-wallets and mobile payments which is further driving the growth of this segment.
The personal loans segment is expected to grow at a significant rate over the forecast period owing to increasing consumer spending on education, home improvement projects & vehicles among other expenses like medical treatment & emergencies that require money quickly without waiting weeks or months for approval from banks or credit card companies.
Regional Analysis:
North America dominated the market in 2017 owing to the presence of a large number of financial institutions and growing adoption of digitization in business processes. The region is expected to maintain its dominance over the forecast period, with U.S. at the forefront, due to technological advancements and increasing penetration of mobile banking applications across all platforms.
Asia Pacific is projected to be one of the fastest-growing regions during 2018 - 2030 as there are still many rural areas where people do not have access to basic services such as electricity or bank accounts Therefore, banks are looking for innovative ways by which they can provide financial services even in these remote areas through digitization programs thus making it convenient for customers and boosting revenue generation from lending activities Digital transformation has also helped boost productivity by reducing manual processing time required between loan application.
Growth Factors:
- Increased demand for credit and loans from consumers and businesses
- Rapid technological advancements in the banking and lending sector
- Rising pressure on banks to reduce costs and increase efficiency
- Regulatory changes that open up new markets or opportunities for lenders
- Growing interest in alternative financing options such as peer-to-peer lending
Scope Of The Report
Report Attributes
Report Details
Report Title
Digitization in Lending Market Research Report
By Type
On Computer Digitization in Lending, On Smartphone Digitization in Lending
By Application
Business Loans, Personal Loans
By Companies
FirstCash, Speedy Cash, LendUp, Elevate, NetCredit, Avant, Opportunity Financial, Prosper Marketplace, The Business Backer, Headway Capital Partners, Blue Vine, Lendio, RapidAdvance, Amigo Loans, Lendico, Trigg
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
205
Number of Tables & Figures
144
Customization Available
Yes, the report can be customized as per your need.
Global Digitization in Lending Market Report Segments:
The global Digitization in Lending market is segmented on the basis of:
Types
On Computer Digitization in Lending, On Smartphone Digitization in Lending
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Business Loans, Personal Loans
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- FirstCash
- Speedy Cash
- LendUp
- Elevate
- NetCredit
- Avant
- Opportunity Financial
- Prosper Marketplace
- The Business Backer
- Headway Capital Partners
- Blue Vine
- Lendio
- RapidAdvance
- Amigo Loans
- Lendico
- Trigg
Highlights of The Digitization in Lending Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- On Computer Digitization in Lending
- On Smartphone Digitization in Lending
- By Application:
- Business Loans
- Personal Loans
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Digitization in Lending Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Digitization in lending is the process of converting a physical asset, such as a loan document or note, into an electronic format. This allows lenders to more easily access and manage the asset, as well as make it available for use in underwriting new loans.
Some of the major players in the digitization in lending market are FirstCash, Speedy Cash, LendUp, Elevate, NetCredit, Avant, Opportunity Financial, Prosper Marketplace, The Business Backer, Headway Capital Partners, Blue Vine, Lendio, RapidAdvance, Amigo Loans, Lendico, Trigg.
The digitization in lending market is expected to grow at a compound annual growth rate of 16%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Digitization in Lending Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Digitization in Lending Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Digitization in Lending Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Digitization in Lending Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Digitization in Lending Market Size & Forecast, 2018-2028
4.5.1 Digitization in Lending Market Size and Y-o-Y Growth
4.5.2 Digitization in Lending Market Absolute $ Opportunity
Chapter 5 Global Digitization in Lending Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Digitization in Lending Market Size Forecast by Type
5.2.1 On Computer Digitization in Lending
5.2.2 On Smartphone Digitization in Lending
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Digitization in Lending Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Digitization in Lending Market Size Forecast by Applications
6.2.1 Business Loans
6.2.2 Personal Loans
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Digitization in Lending Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Digitization in Lending Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Digitization in Lending Analysis and Forecast
9.1 Introduction
9.2 North America Digitization in Lending Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Digitization in Lending Market Size Forecast by Type
9.6.1 On Computer Digitization in Lending
9.6.2 On Smartphone Digitization in Lending
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Digitization in Lending Market Size Forecast by Applications
9.10.1 Business Loans
9.10.2 Personal Loans
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Digitization in Lending Analysis and Forecast
10.1 Introduction
10.2 Europe Digitization in Lending Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Digitization in Lending Market Size Forecast by Type
10.6.1 On Computer Digitization in Lending
10.6.2 On Smartphone Digitization in Lending
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Digitization in Lending Market Size Forecast by Applications
10.10.1 Business Loans
10.10.2 Personal Loans
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Digitization in Lending Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Digitization in Lending Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Digitization in Lending Market Size Forecast by Type
11.6.1 On Computer Digitization in Lending
11.6.2 On Smartphone Digitization in Lending
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Digitization in Lending Market Size Forecast by Applications
11.10.1 Business Loans
11.10.2 Personal Loans
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Digitization in Lending Analysis and Forecast
12.1 Introduction
12.2 Latin America Digitization in Lending Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Digitization in Lending Market Size Forecast by Type
12.6.1 On Computer Digitization in Lending
12.6.2 On Smartphone Digitization in Lending
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Digitization in Lending Market Size Forecast by Applications
12.10.1 Business Loans
12.10.2 Personal Loans
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Digitization in Lending Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Digitization in Lending Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Digitization in Lending Market Size Forecast by Type
13.6.1 On Computer Digitization in Lending
13.6.2 On Smartphone Digitization in Lending
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Digitization in Lending Market Size Forecast by Applications
13.10.1 Business Loans
13.10.2 Personal Loans
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Digitization in Lending Market: Competitive Dashboard
14.2 Global Digitization in Lending Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 FirstCash
14.3.2 Speedy Cash
14.3.3 LendUp
14.3.4 Elevate
14.3.5 NetCredit
14.3.6 Avant
14.3.7 Opportunity Financial
14.3.8 Prosper Marketplace
14.3.9 The Business Backer
14.3.10 Headway Capital Partners
14.3.11 Blue Vine
14.3.12 Lendio
14.3.13 RapidAdvance
14.3.14 Amigo Loans
14.3.15 Lendico
14.3.16 Trigg
