Digitization in Lending Market Segments by Deployment (Smartphone and Computer); by Type (Business, and Consumer) and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030
Exclusive deal : 20% Instant discount on Direct purchases! Don't wait—claim your discount today!
Product Overview
Innovation in the process of lending & borrowing that is carried out digitally without the use of paperwork is digitization in lending. Digitization lets lenders target end-users across offerings in real-time. Digitization in lending, in addition, automates complex processes and lessens manual interventions. Digitalization has become a benchmark for retail lending throughout the banking sector. With the beginning of the digital revolution and the growing digitization in lending, personal loan requests are now being submitted via mobile phone swiping. Nowadays, the banks have the digital priority of small and medium-sized companies. Traditional banks and FinTech companies have begun to offer online lending plans for SMEs.
Market Highlights
Global Digitization in Lending Market is expected to project a notable CAGR of 46.02% in 2030.
Global Digitization in Lending Market to surpass USD 84,359 million by 2030 from USD 4,177 million in 2020 at a CAGR of 46.02% in the coming years, i.e., 2021-30. Owing to enhanced smartphone use and digitalization in the banking sector, the worldwide digitization in the lender market is estimated to expand in the prediction period. The development of the digitalization of linking market with the automation of advanced processes and decreased paperwork. A growing number of SMEs provide lucrative growth prospects for key digital players in the credit sector in the near term.
Global Digitization in Lending Market: Segments
Business segment to grow with the highest CAGR during 2020-30
Global Digitization in Lending Market is segmented by Type into Business and Consumer. Business, the segment held the largest market share in the year 2020. During the period from 2020 to 2030, the rise in the business loans segment is due to the growing number of small and medium-sized enterprises. In addition, the digitalization of loans reduces operating costs and helps to retain both customers and small businesses.
Smartphone segment to grow with the highest CAGR during 2020-30
Global Digitization in Lending Market is divided by deployment into Smartphone and Computer. The deployment segment "smartphone" is expected to record a CAGR growth between 2020 and 2030. Facility of access and support for various advanced applications drive the on-smartphone segment. The maximum dominance in the overall digitization of the lending market in 2020 was the computer deployment component. The wide use of computers for digital lending in different sectors is the major element to the segment's growth.
Global Digitization in lending Market Dynamics
Drivers
Lower Operational Cost
Digital lending platform aims to minimize operating costs by lowering the costs of physical branches, hiring, and branch management, thus increasing business growth. Digital lending network offers an effective framework to ensure repayment mechanism for borrowers, which reduces the investor's market risk. With the aid of digital lending service, investors can reduce various types of market risks such as interest rate, unemployment levels, and risk of property prices, which further positively impact global business development.
Greater Transparency
Digital network lending operates via Internet-based services. The data is publicly accessible and the online providers require access to their websites, giving customers a better image of the accessible loans and types of loans. Digital lending network has a creative advantage over conventional banking structures, owing to the fact that it offers greater market transparency. A prospective borrower submits an application to the platform for approval before a loan is placed on the platform’s website, with all of the risks and interest rates explicitly outlined along with the repayment period.
Restraint
Lack of Interoperability
The market growth during the projected timeframe can have a negative effect because of a lack of interoperability and standards. Furthermore, most people prefer to choose banks over digital loan services as they may pose potential risks and this is an important factor expected to hinder global digital lending market revenue growth. Consequently, service providers are at risk as they provide guarantees against the debt without any collateral, which can result in a loss to providers. That's another aspect that might negatively affect global digital lending market growth.
Global Digitization in Lending Market: Key Players
Lending Stream
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Trigg
Speedy Cash
LLC
FirstCash
Rise Credit
118118Money
Avant
Opportunity Financial
Wonga Group
Amigo Loans Ltd
Simplic
Prosper Marketplace
Other Prominent Players
Global Digitization in Lending Market: Regions
Global Digitization in Lending Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Global Digitization in Lending Market in Europe held the largest market share in the year 2020. The major percentage of digitalization in the lending market was Europe in 2020 of around percent. In Europe, the United Kingdom and France played the major role in digitization in the area's lending market. In nations such as France and the UK, the existence of major banking sectors significantly contributed to market growth. HSBC is one of Europe's leading banks, with total assets totaling less than trillion dollars. The region's financial sector is anticipated to continue to expand over the forecast period to create enormous growth opportunities for this market.
Global Digitization in Lending Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global Digitization in Lending Market report also contains analysis on:
Digitization in lending Segments:
By Deployment
Smartphone
Computer
By Type
Business
Consumer
Digitization in lending Dynamics
Digitization in lending Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Contents
1. Executive Summary
2. Global Digitization in lending Market
1. Product Overview
2. Market Definition
3. Segmentation
4. Assumptions and Acronyms
3. Research Methodology
1. Research Objectives
2. Primary Research
3. Secondary Research
4. Forecast Model
5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
1. Growth Drivers
2. Restraints
3. Opportunity
4. Trends
7. Correlation & Regression Analysis
1. Correlation Matrix
2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
1. Demand Risk Analysis
2. Supply Risk Analysis
10. Global Digitization in lending Market Analysis
1. Porters Five Forces
1. Threat of New Entrants
2. Bargaining Power of Suppliers
3. Threat of Substitutes
4. Rivalry
2. PEST Analysis
1. Political
2. Economic
3. Social
4. Technological
11. Global Digitization in lending Market
1. Market Size & forecast, 2020A-2030F
1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Global Digitization in lending Market: Market Segmentation
1. By Regions
1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. By Type into: Market Share (2020-2030F)
1. Business, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Consumer, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
3. By Deployment Type: Market Share (2020-2030F)
1. Smartphone, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
2. Computer, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
Company Profile
1. Wonga Group
1. Company Overview
2. Company Total Revenue (Financials)
3. Market Potential
4. Global Presence
5. Key Performance Indicators
6. SWOT Analysis
7. Product Launch
2. Lending Stream
3. Trigg
4. Speedy Cash
5. LLC
6. FirstCash
7. Rise Credit
8. 118118Money
9. Avant
10. Opportunity Financial
11. Amigo Loans Ltd
12. Simplic
13. Prosper Marketplace
14. Other Prominent Players
Consultant Recommendation
**The above-given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
Research Methodology:
Digitization in Lending Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
| Market Size |
|
|
| Market Position of Top Company |
|
|
| Qualitative Analysis |
|
|
Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
| Primary Sources | Parameters | Key Data |
| Market Segments(by Application, by Type) |
|
|
| Total Market |
|
|