Digital Lending Platform Market USD 7.59 Billion in 2020, CAGR of 18.30%, Emergence of new opportunities for banking automation with more secured processes
NEW YORK, NY, UNITED STATES, November 4, 2021 /EINPresswire.com/ — The growth of the market is governed by various factors such as growing demand for consumer electronics and reliable and safe methods for various lending purposes
The Digital Lending Platform Market is expected to reach USD 28.65 Billion by 2028, according to a new report by Reports and Data. The increase in growth is mainly associated with the increase in consumer electronics like smart phones, laptop among others coupled with the adoption of advanced cloud technology services that allows thousands of customers to access similar resources helping companies to cut down their expenses. Based on statistics, the penetration of advanced cloud based platforms that helps to develop new technology is also a significant factor stimulating market demand.
A digital lending system is a software system practiced to execute, deploy and solve the complications associated with conventional form of lending with the help of technology. The precise implementation of digital lending automates the method practices for various lending purposes. Thus, digital lending is assumed to be adopted at a large scale in the future. Also, it is growing in popularity as it is time saving and customers can operate their services just at the ease of their comfort efficiently. Due to these specialties, the Digital Lending Platform Market is anticipated to have latent growth during the forecast period.
Due the presence of advanced economies, like the United States (US) and Canada, North America is estimated to hold the largest share of 37.3% in 2018. North America is the most developed region in the market, as almost all large enterprises are located in this region. The region’s powerful financial position also allows it to invest heavily in advanced testing tools and technologies. These improvements have provided North American organizations a competitive edge in the market.
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The Key players in the Digital Lending Platform Market include Ellie Mae, Fiserv, Intellect Design Arena, Nucleus Software, Finantix S.p.A, Newgen Software, Symitar Systems Inc, Sigma Infosolutions, CU Direct, Juris Technologies, FIS Global, Roostify, Mambu, HiEnd Systems, Roostify, Finastra, Argo, Decimal Technologies, Built Technologies, Argo, Rupeepower, TurnKey Lender, Sageworks, Docutech, Tavant Technologies, Temenos, and Pegasystems, HiEnd Systems
Further key findings from the report suggest
• The Digital Lending Platform Market is estimated to reach USD 28.65 Billion by 2028, at a CAGR of 18.30% during the forecast period.
• The Decision Automation solution segment is anticipated to grow at the highest rate of 18.8% during the forecast period.
• The demand for this method is increasing, along with the growing adoption of the Digital lending platforms among corporate since it is effortless and time efficient.
• Cloud deployment is anticipated to grow at a higher rate of 18.4% during the forecast period.
• The application in Banking accounts for the largest share of 27.3% of the market in 2018.
• Digital lending in banks has emerged rapidly due to the growing preference of customers to perform transactions effortlessly without any inconvenience.
• APAC is forecasted to be the fastest growing market with the highest rate of 18.6% during the forecast period. The drivers for the growth of this region are the presence of key players, favorable reimbursement policies, and rising use of technology in the emerging countries like India, and China, along with several initiatives taken by the government.
• Various players are developing strategies to mark their presence in the industry.
• R&D initiatives by companies to improve healthy products that have a broad application base are anticipated to create tremendous growth possibilities for industry participants.
• It is expected that, with the evolving technological advancements, Banks will include sources of deep business focus, pervasive analytics, pure agnosticism, open source, and extensive automation as architectural policies, to attain new levels of agility, scalability, and flexibility.
• Fiserv partnered with a provider of payment processing solutions, Dade Systems in October 2018.
• This acquisition was made to work together to improve and offer SaaS-based or standalone banking solution to their integrated business clients.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/digital-lending-platform-market
For the purpose of this study, Reports and Data have segmented the market on the basis of Deployment, Solution, Services, Application and region:
Deployment Outlook (Revenue, USD Million; 2018-2026)
Solutions Outlook (Revenue, USD Million; 2018-2026)
Business Process Management
Services Outlook (Revenue, USD Million; 2018-2026)
Design and Implementation
Training and Education
Support and Maintenance
Application Outlook (Revenue, USD Million; 2018-2026)
Regional Outlook (Revenue, USD Billion ; 2018-2026)
Middle East and Africa
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Market Report includes major TOC points:
• Digital Lending Platform market Overview
• Global Economic Impact on Industry
• Global Market Competition by Manufacturers
• Global Production, Revenue (Value) by Region
• Global Supply (Production), Consumption, Export, Import by Regions
• Global Production, Revenue (Value), Price Trend by Type
• Global Market Analysis by Application
• Manufacturing Cost Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Market Effect Factors Analysis
• Digital Lending Platform market Forecast
Conclusively, all aspects of the Digital Lending Platform market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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