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Wireless/Telecom News Releases
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(Wireless-NewsWire.Com, October 24, 2018 ) The unprecedented penetration of internet across the globe that is allowing borrowers to seek funds is propelling the global peer-to-peer lending (P2P) market. Technological advancements that are permitting users to have a smooth access to interfaces that offer quick updates is also augmenting this market. The research report published by Transparency Market Research states that the opportunity in the global P2P lending market was worth US$26.16 bn in 2015. Analysts predict that the market valuation will reach US$897.85 bn by 2024, as it expands at a significant CAGR of 48.2% from 2016 to 2024.
Simplification of Modes Used for P2P Lending Spurs Demand
Demand for P2P lending is anticipated to gain impetus in the near future due to the availability of simplified modes such as enhanced online interfaces. Technological advancement could be key for the growth of the world P2P lending market. Borrowers could receive instant updates about the amount of funds present in their bank accounts and completion of the lending process or seek funding online. Massive demand for simpler ways of getting student loans sanctioned supported by rising population of students is expected to bode well for the market. It could be cashed in on by vendors for gaining traction in terms of revenue share.
Today, lending and borrowing are said to have become an easier process due to the advent of advanced technologies such as prediction software that estimates the borrower’s financial capability to repay loans and also calculates loan amounts based on different factors.
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Borrowers Turning to Banks could Pose Possible Risk to Market
The international P2P lending market could be risked by the turning away of borrowers and finding more interest in other professional lenders including banks. There is a huge pressure on conventional lenders as well as banks to improve their interest rates owing to the ongoing battle of securing a larger market share. Consequently, the future of the market could be dented due to the rise of schemes offering high interest rates on savings. Moreover, defaults in loan repayment increasing direct risks that investors are exposed to are foreseen to hamper the demand in the market.
However, there could be strong growth opportunities available in China and India because of their colossal population base. Furthermore, there is a wide gap between the willingness of P2P lending vendors to expand their business and inaccessibility to credit modes that needs to be fulfilled. Asia Pacific could also offer lucrative prospects on the back of rising loan requirement of SMEs in its emerging economies.
Request TOC @ https://www.transparencymarketresearch.com/report-toc/10835
Transparency Market Research
Ganesh Rajput
9923093622
ganesh.r@transparencymarketresearch.com
Source: EmailWire.Com 
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