The report provides a detailed analysis of these key players of the global alternative finance market. However, the Asia-Pacific region is expected to witness the fastest CAGR of 22.7% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the fact that the Asia Pacific region's alternative finance market is growing rapidly due to a combination of factors such as a large unbanked population, rapidly growing economies, technological innovation, and regulatory support. North America to maintain its dominance by 2031īased on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global alternative finance market revenue, as regulatory bodies in North America have generally been supportive of alternative finance platforms, which has encouraged the growth of the industry. However, the individuals segment is projected to manifest the highest CAGR of 20.3% from 2023 to 2032, as alternative finance has become increasingly popular among individuals who are looking for new ways to invest their money or access credit.
The businesses segment to maintain its leadership status throughout the forecast periodīased on end user, the businesses segment held the highest market share in 2022, accounting for nearly two-thirds of the global alternative finance market revenue, and is estimated to maintain its leadership status throughout the forecast period, as businesses are becoming more comfortable with alternative finance and are increasingly turning to these options to access the funding they need. Moreover, many governments around the world introduced measures to SMEs during the pandemic, such as loan guarantee schemes and grants, which helped to stimulate the demand for alternative finance products. However, the pandemic increased the risk of defaults and losses for alternative finance platforms, as many businesses were struggling to survive and repay their loans. Changing consumer preferences and regulatory environmentĭue to the COVID-19 pandemic and the subsequent global lockdowns, the alternative finance market faced a moderate impact.
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