Key regions: United States, Singapore, Brazil, Europe, Germany
The CrowdLending (Business) market in Ireland has been experiencing significant growth in recent years.
Customer preferences: Irish businesses are increasingly turning to CrowdLending as a source of funding due to its numerous benefits. CrowdLending platforms offer businesses a quick and efficient way to access capital, often with lower interest rates compared to traditional bank loans. Additionally, businesses can tap into a wider pool of potential lenders, allowing them to secure funding even if they have been turned down by traditional lenders. This flexibility and accessibility have made CrowdLending an attractive option for many Irish businesses.
Trends in the market: One of the key trends in the Irish CrowdLending market is the rise of sector-specific platforms. These platforms cater to businesses in specific industries, such as technology, renewable energy, or agriculture. By focusing on a particular sector, these platforms can better understand the needs and risks associated with businesses in that industry, leading to more tailored lending solutions. This trend reflects the growing demand for specialized financing options in Ireland. Another trend in the Irish CrowdLending market is the increasing participation of institutional investors. As the market matures, institutional investors such as pension funds and insurance companies are recognizing the potential of CrowdLending as an asset class. These investors bring additional capital and expertise to the market, further fueling its growth. Their involvement also signals the growing acceptance and credibility of CrowdLending as a legitimate financing option.
Local special circumstances: Ireland's strong entrepreneurial culture and vibrant start-up ecosystem have contributed to the growth of the CrowdLending market. The country has a high number of small and medium-sized enterprises (SMEs) that often face challenges in accessing traditional financing. CrowdLending provides these businesses with an alternative source of funding, enabling them to grow and contribute to the Irish economy. Furthermore, the Irish government has been supportive of the fintech sector, creating a favorable regulatory environment for CrowdLending platforms. This has encouraged the establishment and growth of these platforms in Ireland, attracting both domestic and international players to the market.
Underlying macroeconomic factors: The growth of the CrowdLending market in Ireland is also driven by macroeconomic factors. The country's strong economic performance and low interest rate environment have created favorable conditions for businesses to seek financing. Additionally, the uncertainty surrounding Brexit has led some businesses to explore alternative funding options, such as CrowdLending, to mitigate potential risks. In conclusion, the CrowdLending (Business) market in Ireland is experiencing significant growth due to customer preferences for quick and accessible funding, the rise of sector-specific platforms, and the increasing participation of institutional investors. Ireland's strong entrepreneurial culture, supportive government policies, and favorable macroeconomic conditions have also contributed to the market's development.
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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