Research and Markets have announced a new report they have published on the fast growing peer to peer (P2P) lending industry. Their numbers state the global market will top £40 billion (over $64 billion USD) by 2016. They break that out stating the UK will account for £5 billion of that amount with the US will register £20 billion and the balance coming from the rest of the world. They also echo the claim by Foundation Capital that P2P will hit $1 trillion by 2025. I must note that one of the leading P2P platforms in the US claims the total addressable market is a $2.7 trillion number.
This report is one that you have to pay for but if you are interested in an over view of the industry status around the world it may be worth it. According to the release though – few of the big names in the P2P space garner a mention – but then perhaps it is the big banks that Research and Markets is targeting (as they are the ones with the most to lose).
Research and Markets states that:
“By 2020 it will be common for businesses and individual to connect with lenders via peer-to-peer websites and market wide platforms. It allows for the lending of money while bypassing traditional banks. Returns are financial, but investors also have the benefit of having contributed to the success of an idea they believe in.”
This statement is one that is becoming more obvious by the day.