The P2P lending market is expected to reach $1,709.6 billion by 2034, driven by increasing demand and decreasing operational costs.

The peer-to-peer lending market is expected to grow from $517.2 billion in 2024 to $1,709.6 billion by 2034. This market is projected to increase at a rate of 12.70% over the next decade. The growing popularity of peer-to-peer lending is prompting players to collaborate and contribute to market growth.

For example, the Indonesian travel platform Traveloka publicly announced a partnership with Bank Jago, supported by Gojek, to issue loans through Traveloka PayLater. This initiative opens up opportunities for the non-banking sector in Indonesia. With these initiatives, the growth of peer-to-peer lending is expected to increase during the forecast period.

Take note of the key findings from the Peer-to-Peer Lending Market report. The peer-to-peer lending market reached $295.34 billion in 2019.

As a result, the market analytics structure is participating in fierce competition due to the global presence of numerous small and medium suppliers offering a variety of solutions. Players in the global market are focusing on adopting alternative distribution channels, such as online sales, to increase their presence worldwide. Marketing strategies in the peer-to-peer lending sector are expected to be effective in strengthening the competitiveness of offerings and enhancing collective efforts within the industry.