Showing posts with label Competition in Digital Lending Market. Show all posts
Showing posts with label Competition in Digital Lending Market. Show all posts

Wednesday, August 10, 2022

India Digital Lending Market Is Driven By Rising Government Initiatives Towards Digitization In the Country: Ken Research

 Market Overview

Customers have started switching from conventional lending ways to digital lending methods as a result of the accessibility and simplicity of these platforms. Because of the advantages, it offers to consumers over digital platforms, the Indian market for digital lending is expanding positively. The variety of loans available, quick processing times, cheaper interest rates, and a surge in smartphone usage in India, among other advantages, have all helped the digital lending business expand. Additionally, the government is developing policies to encourage digital lending in the nation, and the RBI and other banks are continuously promoting digital development in India. As NBFC platforms have worked with other digital platforms like e-commerce, ride-hailing, travel, logistics, and more, digital lending has grown in popularity in India. This is because it is now more widely accepted across different customer segments.

Report Analysis

According to the research report, India Digital Lending Market Outlook to FY’2027– Driven by the Growing Internet Population, Increasing Demand for App-Based Instant Loans, and Variety of Consumer Loans being offered in the Market states that the market is propelled due to India's high number of platforms and the country's digitization, credit disbursed in the digital lending market is predicted to increase the market growth during the forecasted period. Due to the sustained and rapid digitization and escalating use of cutting-edge technologies, the penetration of digital banking has significantly expanded in India.

Companies are beginning to investigate emerging technologies such as data analytics, AI, ML, deep learning, and robotics in the financial industry as deeper digitalization of the financial sector including credit dispersion is possible. Many banks are projected to have a higher adoption rate for the model of dispensing credit via digital mode - from lead generation to loan disbursement - in the next years.

India Digital Lending Market is the number of Digital Loans provided to consumers in India via Digital Channels such as Online Platforms and Mobiles. The India Digital Lending Market by NBFCs is the total of Digital Loans made available to consumers through Digital Channels such as Online Platforms and Mobile Apps by Organized and Unorganized NBFCs in India.

Impact of COVID-19

People's lifestyles have changed as a result of the Covid outbreak. One example is the increase in online payments, which has fuelled the rise of the BNPL area of consumer financing. BNPL deals have increased significantly in the recent few years. Many people have begun to use this payment technology as a result of the crisis of shrinking jobs and unpredictable income following covid. The BNPL system is popular among young people and those who are taking out credit for the first time. The simplicity and low cost of the BNPL payment system are the main reasons for its popularity. Despite serving as a credit card substitute, it is interest-free for the vast majority of consumers.

Future Projections

India’s Digital Lending Market will grow rapidly in the impending years due to the growing digitization in the country. The digital lending market is fast expanding due to a rising number of affordable alternative lending methods, and it will continue to do so in the next years. Given the consistent adoption rate, digital lending is projected to expand in demand in the projected time period of 2027. Changes in consumer behaviour and the increased use of smartphones are also contributing to market growth.

For more information on the research report, refer to below link:-

India Digital Lending Market

Related Reports:-

India Buy Now Pay Later Market Outlook to 2026: Cascading Growth driven by one-click payment ease, unmatched expediency among lending solutions and free of cost deferment of payments, coupled with rising adoption by Merchant Payments due to increase in Customer Conversion and Sales Value

India ATM Managed Services Outlook to 2026 (Second Edition) – By Managed Services (ATM Repair & Maintenance, ATM Site Management, Transaction Processing, Cash Reconciliation Statement, Content and Electronic Journal Management), ATM Supply & Cash Management (ATM Replenishment, CIT, CPD)

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

Thursday, July 21, 2022

India Digital Lending Market Size and Research 2022, CAGR Status, Growth Analysis, Key Manufacturer and Strategies till 2027: Ken Research

The report titled India Digital Lending Market Outlook to 2027 provides a comprehensive analysis of the digital Lending market in India. The report covers an overview and genesis of the industry, and market size on the basis of credit disbursed and segmented on the basis of loan duration, type of lender, number of users, and type of loans. Further, NBFC’s market segmentation is also mentioned on the type of region and tier city, type of loan, type of business loan consumer and type of consumer loan in digital lending. The report also includes trends and developments, issues and challenges and comparative landscape including competition scenario, market shares of major brands based, financial and operational cross-comparison between major players, concluding with future projections for digital lending in India.

India Digital Lending Overview and Market Size

India’s digital lending market has presented remarkable growth in the historical period FY’2017-FY’2022P with a CAGR of 132%. As a result of the need for superior customer experiences, emerging business models, faster turnaround time, and the adoption of technology such as artificial intelligence, the sector has grown steadily over the past few years. Since more and more consumers are using digital avenues, the use of smartphones has increased significantly over the past few years, resulting in an increase of 40-60% in the purchase of digital loans.

Detailed Analysis of India Digital Lending Market by NBFCs

The market for digital lending by NBFCs is on an upward trend and shows double digit positive growth. The growing use of new technologies and digital tools, including artificial intelligence (AI), machine learning, and data analytics, is fostering this high-potential, high-value space and is also contributing to an increase in purchasing of digital loans. The digital lending loans offered by NBFCs are dominated by B2B and B2C business models.

Request for Free Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTc0NDQ2

Competitive Landscape in India’s Digital Lending Market

The competition was observed to be highly fragmented, many players in the market provide consumer loans and Business loans. There are few companies that operate in the loan marketplace space.

India’s digital lending Market Future Outlook and Projections

The seamless customer experience offered by digital lending will result in more borrowing in the coming years. There may be a convenience fee associated with these apps, but they would meet people's immediate needs for funds quickly and without hassle. The companies that are providing digital lending are coming up with new technology which will make the process overall even more seamless for the customers and will eventually increase customer satisfaction. Using advanced AI and machine learning will reduce the cost in the future hence improving the customer acquisition rate.

Key Segments Covered

Digital Lending

  • By Duration of the loan
  • By Type of Lender
  • By User Split
  • By Type of loan
  • By Type of loan

Digital Lending – NBFCs

  • Type of Loans
  • Type of Consumer Loans
  • Type of Business Loans
  • Type of Business Loan Consumers
  • Type of Duration of Loan
  • Type of Region
  • Type of Zone

Credit Disbursed through Digital Channels in India

Time Period Captured in the Report:

Base Year: 2022P

Historical Period: 2017-2021

Forecast Period: 2023F–2027F

Companies Covered:

  • Pine Labs
  • PayU
  • Faircent
  • Capital Float
  • Lending Kart
  • Aye Finance
  • Moneyview
  • Kissht and other

Key Topics Covered in the Report

  • India’s Digital Lending Market Research Report
  • Supply side ecosystem
  • SWOT Analysis of India’s Digital Lending Market
  • Impact of Covid-19 on Digital Lending
  • Challenges and Bottle Necks in India’s Digital Lending Market
  • Growth Drivers and Enablers for the Digital Lending Market in India
  • Traditional and Non Traditional Operating Models
  • Funding Scenario in Digital Lending Market
  • Detailed Analysis of India Digital Lending Market (Market size on the basis of Credit Disbursed, Market Segmentations by Type of Lenders, Type of Loans and Loan Durations)
  • Detailed Analysis of India Digital Lending – By NBFCs (Market size on the basis of Credit Disbursed, Market Segmentations by Type of Loans, Type of End Users, Type of Region and Zone, Type of Loan Security and Loan Durations)
  • Government initiatives and regulations, growth drivers
  • Future Market Projections for Digital Lending Market in India, FY’2027
  • Future Trends and Technologies
  • Details analysis of Competition in India Digital Lending Market (Market Shares; Cross Competition, Financial Cross comparison of Major Players, Strength and Weakness of Major players).

Related Reports:

India Buy Now Pay Later Market Outlook to 2026: Cascading Growth driven by one-click payment ease, unmatched expediency among lending solutions and free of cost deferment of payments, coupled with rising adoption by Merchant Payments due to increase in Customer Conversion and Sales Value

India ATM Managed Services Outlook to 2026 (Second Edition) – By Managed Services (ATM Repair & Maintenance, ATM Site Management, Transaction Processing, Cash Reconciliation Statement, Content and Electronic Journal Management), ATM Supply & Cash Management (ATM Replenishment, CIT, CPD)

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249