Asia-Pacific Digital Lending Platform Market, By Component (Solutions, Services), Deployment Model (On Premises, Cloud), Loan Amount Size (Less than US$ 7,000, US$ 7,001 to US$ 20,000, More than US$ 20,001), Subscription Type (Free, Paid), Loan Type (Automotive Loan, SME Finance Loan, Personal Loan, Home Loan, Consumer Durable, Others), Vertical (Banking, Financial Services, Insurance Companies, P2P (Peer-to-Peer) Lenders, Credit Unions, Saving and Loan Associations), Country (Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific) Industry Trends and Forecast to 2027
Digital lending platform market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with the highest CAGR of 19.8% in the forecast period of 2020 to 2027 and is expected to reach USD 5,288.36 million by 2027. Increasing usage of smartphones is a driving factor for the market growth.
The government regulations offer standardization among the lending platform and also, creates stability and healthy competition within the market. The regulations have aided the FinTech in developing more digital platform form customers and bring lending solutions to online platform acting as a major driver for the digital lending platform market. High penetration of internet services is increasing the consumption of digital lending platform products which drives the market. Government launching new projects to increase the growth of digitalization is creating an opportunity for the digital lending platform market.
Low literacy rate in some of the underdeveloped countries is acting as a restraint for the digital lending platform market. The threat to theft of financial records and money will be the major concern for the organization and will act as major challenge for digital lending platform market.
This digital lending platform market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Digital lending platform market is segmented on the basis of component, deployment model, loan amount size, subscription type, loan type and vertical. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the market is segmented into solutions and services. In 2020, solutions segment holds the largest share in component segment as it requires high initial cost, on the other hand services incur low cost expenditure on occasional basis.
- On the basis of deployment model, the market is segmented into cloud, and on premises. In 2020, on premises segment dominates the deployment model segment considering large enterprises opt for on premises installations, however cloud is growing at higher rate due to specifications based costing.
- On the basis of loan amount size, the market is segmented into less than US$ 7,000, US$ 7,001 to US$ 20,000, and more than US$ 20,001. In 2020, loan amount size segment is dominated by less than US$ 7,000 segment category majorly due to people preferring low amount of loan through digital lending platforms, however due to increasing assurance of these platforms US$ 7,001 to US$ 20,000 category is growing at higher CAGR.
- On the basis of subscription type, the market is segmented into free, and paid. In 2020, subscription type segment is dominated by free subscription segment since small enterprises opt for free services for cost cutting, on the other hand with rapidly growing market for digital lending platforms paid subscriptions are being adopted by lenders.
- On the basis of loan type, the market is segmented into automotive loan, SME finance loan, personal loan, home loan, consumer durable and others. In 2020, automotive loan segment holds the largest market share in the loan type segment due to growing vehicle sales in the region on instalment basis.
- On the basis of vertical, the market is segmented into banking, financial services, insurance companies, P2P (peer-to-peer) lenders, credit unions, saving and loan associations. In 2020, banking segment dominates vertical segment as solutions such as loan origination and loan managements which are major applications of digital lending platforms are usually completed through banks considering better services offered by banks. Also, other solutions such as portfolio management can also be done by banks using lending platforms.
Digital Lending Platform Market Country Level Analysis
Digital lending platform market is analysed and market size information is provided by country, component, deployment model, loan amount size, subscription type, loan type and vertical as referenced above.
The countries covered in Asia-Pacific digital lending platform market report are Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, and rest of Asia-Pacific.
China is dominating the market in Asia-Pacific region due to the presence of high number of smartphones and customers being more accustomed to digital platforms in the region along with digital transformation of business are leading the companies to digitalize all their operations, services and marketing on online basis in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Digital Lending Platform in Digital Lending Platform Market
Digital lending platform market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in digital lending platform and changes in regulatory scenarios with their support for the DIGITAL LENDING platform market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Digital Lending Platform Market Share Analysis
Digital lending platform market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to digital lending platform market.
The major players covered in the report are Finastra, Fiserv, Inc., Newgen Software Technologies Limited, Nucleus Software Exports Ltd., Intellect Design Arena Ltd, Sigma Infosolutions, FIS, Pegasystems Inc., Tavant, Decimal Technologies, Mambu GmbH, Turnkey Lender, DocuSign Inc. among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of digital lending platform market.
- In May 2020, Tavant announced the launch of AI-Powered Instant Refi Advisor. The new solution aids the customer to modify their results for the best product they need for refinancing, once the inquiries are completed by the borrower the information is received by the lender on CRM system. This makes the transaction of information between borrower and lender more efficient and thus leading to increase in customer base of the company.
- In September 2019, Nucleus Software Exports Ltd. announced the extension of services to Indonesian bank. The company is trying to expand more into Asia-Pacific region with their FinnOne Neo solution. This aided the company in expanding geographical reach of the company.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for digital lending platform through expanded range of size.
Customization Available: Asia-Pacific Digital Lending Platform Market
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