Lending Technology (LendTech) Market Size Latest Trends Analysis, Industry Advancement, And Forecast To 2031

According to Report Ocean, the global LendTech market will grow at a rate of over 24% during the forecast period 2019-2025. The market for LendTech is predominantly driven by the increasing penetration of the Internet and the rapid adoption of technology by all levels of lending service providers. Increasing adoption of cloud services and automation in the lending process is resulting in reduced cost, rapid implementation, and ease of lending processes.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments’ success, ICT vendors now annually set aside funding for the growth of the online market.  Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy ha s decreased by 0.2%. 

According to the LendTech market analysis, North America accounted for the largest share of the global LendTech market in 2018. With the presence of the highest number of technology innovators and increasing adoption of lending technology by the lending corporations to enhance customer’s buying experience, this region is expected to dominate the market during the forecast period. The Asia Pacific region is expected to witness the fastest growth rate during the forecast period due to the rising adoption of LendTech solutions for reforming the lending landscape and growing number of start-ups catering to most of the financial areas, including banking, insurance, lending and wealth management.

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LendTech Market Research Competitive Analysis and Key Vendors

The report covers and analyzes the key vendors in the global LendTech market. Major vendors across different verticals are increasingly developing products and investing in this market, and as a result, the LendTech market is expected to grow at a good pace in the coming years. The key players in the LendTech market are adopting various organic as well as inorganic growth strategies such as mergers & acquisitions, collaborations & partnerships, joint ventures, and few other strategies to gain a competitive advantage in the market.

Few of the Key Vendors in the LendTech Market

– Blend

– Fiserv

– Finastra

– Lending Solutions

– Nelito Systems Ltd.

– Q2 Software

– Tavantas

These companies are providing LendTech solutions across multiple functions. There are numerous other vendors that have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.

LendTech Market Research By Deployment

– On-premises

– Cloud-based

On the basis of deployment mode, the global LendTech market is segmented into on-premises and cloud-based. The cloud-based segment is expected to grow significantly during the forecast period, owing to the low-cost availability as well as its user-friendly nature.

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LendTech Market Research By Organization Size

– SMEs

– Large Enterprises

On the basis of organization size, the global LendTech market is segmented into SMEs and large enterprises. SMEs are expected to grow at a significant rate due to the low-cost availability of lending technology, thereby resulting in increased scalability and rapid deployment.

LendTech Market Research By Type

– Syndicated Lending

– Commercial Lending

– Consumer Lending

– Mortgage Lending

Based on type, the market is segmented into syndicated lending, commercial lending, consumer lending, and mortgage lending. Among these, syndicated lending and commercial lending will have a significant contribution during the forecast period 2019-2025, predominately due to the non-stringent lending policies when compared to financial institutions and demand for quick sources of funding.

LendTech Market Research Benefits

The report provides an in-depth analysis of the lending technology (LendTech) market. LendTech enables lenders to adopt technologies, including artificial intelligence, big data, and blockchain, to enhance the lending process. The mortgage industry is expected to benefit significantly from lending technology, owing to the execution of transparent loan agreements for personalized loans.

The new lending technology empowered by cloud and automation is reforming loan origination, thereby enhancing efficiency to the process. However, the high cost of deployment, as well as the stringent lending regulations, will create a challenging environment for the LendTech market growth.

The deployment of cloud services will enable lenders to implement the loan origination software (LOS) without the requirement for extra on-premise investments in IT infrastructure and operational overhead, and also will be accessible to lenders irrespective of the location. Similarly, automation enables the rapid processing of loan applications efficiently and precisely by evaluating data collected from the loan application. It is expected that lenders will leverage these lending technologies and result in gaining a competitive advantage in the current fast-paced lending environment.

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The growing adoption of new-age technologies, such as AI, will further boost the adoption of lending technology. This adoption is resulting in reduced cost of operations and ease in the lending process. There are several FinTechs in the market that are developing and using lending technology. Prosper, which is a peer-to-peer lending company, allows borrowers and lenders to collaborate and provides new-age lending technology benefits, including affordable rates, good terms, and evaluation, which are not dependent only on credit score.

Currently, many LendTech players are offering several solutions that are being used across lenders globally. The report discusses the market in terms of deployment, type, organization size, and regions. Further, the report provides details about the major challenges and drivers impacting the market growth.

Client Focus Area in this Report

Is the influence of COVID-19 and the Russia-Ukraine conflict on the global market taken into account in this report?

Yes. We have definitely taken COVID-19 and the Russia-Ukraine war into account throughout the research because of their significant effects on the global supply chain relationships and raw material price system. We also go into great detail about the effects of the pandemic and the war on the industry.

Can I change the report’s scope and make it my own to meet my needs?

Yes. Multidimensional, deep-level, and high-quality requirements that are specifically tailored to our customers can help them accurately grasp market opportunities, easily confront market challenges, properly formulate market strategies, and act quickly, giving them enough time and space for market competition.

How did the list of important players for the report come about?

We specifically study both the top businesses that are influential on a worldwide scale as well as the regional small and medium-sized businesses that play vital roles and have significant growth potential in order to clearly reflect the competitive condition of the industry.

What are the key sources of your data?

In putting together the report, both primary and secondary data sources were consulted. Comprehensive interviews with important thought leaders, subject-matter specialists (such as directors, CEOs, and marketing executives), downstream distributors, and end-users are examples of primary sources. Research of major firms’ annual and financial reports, public records, fresh journals, etc., are examples of secondary sources. We also collaborate with a few outside datasets.

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