The Crowdfunding market in North America has experienced significant growth in recent years, driven by changing customer preferences and the emergence of new trends in the market.
Customer preferences: Customers in North America are increasingly turning to crowdfunding as a way to support innovative projects and ideas. The ability to contribute to a project and become part of its success is a key driver for customers. Additionally, crowdfunding allows individuals to support causes and initiatives that align with their personal values, providing a sense of fulfillment and impact.
Trends in the market: One of the key trends in the North American crowdfunding market is the rise of reward-based crowdfunding. This type of crowdfunding allows backers to receive a tangible reward in return for their contribution, such as a product or service. This trend has gained popularity due to the unique offerings and exclusive access that backers receive, creating a sense of exclusivity and value. Another trend in the market is the growth of equity crowdfunding. This type of crowdfunding allows individuals to invest in early-stage companies and startups in exchange for equity. This trend has been facilitated by regulatory changes that have made it easier for individuals to invest in private companies. Equity crowdfunding provides investors with the opportunity to support promising startups and potentially earn a financial return on their investment.
Local special circumstances: The North American crowdfunding market is characterized by a high level of entrepreneurial activity and a strong startup ecosystem. The region is home to many innovative companies and entrepreneurs who are seeking alternative sources of funding to fuel their growth. This has created a fertile ground for crowdfunding platforms to thrive and attract a diverse range of projects and campaigns.
Underlying macroeconomic factors: The strong economic growth and relatively high disposable income levels in North America have contributed to the development of the crowdfunding market. As individuals have more financial resources available, they are more inclined to support projects and causes that resonate with them. Additionally, the prevalence of digital platforms and online payment systems has made it easier for individuals to participate in crowdfunding campaigns, further fueling the growth of the market. In conclusion, the Crowdfunding market in North America has experienced significant growth due to changing customer preferences, the emergence of new trends, the region's entrepreneurial activity, and favorable macroeconomic factors. As the market continues to evolve, it is expected to provide more opportunities for individuals to support innovative projects and initiatives.
Data coverage:
The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.Modeling approach / Market size:
Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.
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