Dallas, Texas, Oct. 05, 2022 (GLOBE NEWSWIRE) -- The global crowdfunding market reached a value of US$ 15.37 Billion in 2022 and is expected to reach US$ 27.96 Billion by 2029, exhibiting a CAGR of 13.66% during the prediction period of 2022 to 2029. The free social media promotion is one of the key factors that will favorably affect market growth throughout the projection period. Social networking is a prominent technique that many crowdfunding initiatives utilize because it allows for tracking of website referral traffic. Social media might therefore be utilized by companies to promote products without investing any money, which is anticipated to drive the global crowdfunding market throughout the forecast period.
The usage of campaigns as platforms for crowdfunding is a significant factor in the growth of the crowdfunding market share. One of the major factors promoting the development of crowdfunding globally is the rising frequency of chronic illnesses among the general population. Additionally, a number of steps done by the governing authorities to reduce healthcare costs are promoting market expansion. As social media makes it possible to track website referral traffic, many crowdfunding campaigns employ it as a distribution channel. A business can now freely support an idea on social media as a result, which is expected to stimulate the expansion of the global crowdfunding industry throughout the course of the predicted year.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| CAGR | 13.66% |
| Historical Data | 2019-2020 |
| Segment Covered | Deployment Model, Industry, End-Use, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Crowdfunder, RocketHub, IFunding, GoFundMe, Teespring, Crowdcube, Wefunder, Patreon, and Kickstarter. |
Crowdfunding is the practice of soliciting modest donations from a large number of people in order to raise money for a certain cause or project. It is done using social networks online, which makes it simpler for supporters to spread the word about a cause or initiative. It can be used to generate money for a worthwhile endeavor, a creative undertaking, the launch of a business, college tuition, and other costs. The need for crowdfunding is growing globally because it is a scalable, adaptable, and effective method of raising money. Equity investment, donation-based, reward-based, peer-to-peer lending, and hybrid models are just a few of the ways it offers financial assistance. Usually, it takes place online on websites and forums for social networking. Without the assistance of banks or venture capitalists, crowdfunding enables direct market access. It is seen as a flexible, scalable, and successful alternative to conventional fund-raising strategies.
In 2021, the P2P lending segment dominated with majority of the share. Throughout the anticipated term, the segment will maintain its dominant market share. Numerous international government programmes that assist the expansion of the market in this sector can be blamed for the market's growth. P2P lenders liquidate the fund before the loan's terms expire, enabling borrowers to get access to the funds sooner for planned expenses.
APAC will be the most revenue-generating region during the anticipated period. Due to increased Internet and smartphone penetration in APAC during the projected period, the global crowdfunding industry would grow there.
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In May 2020, BuildHer, a UK-based crowdfunding platform for women of African descent, will formally launch. BuildHer, a company that was founded in 2018, says it trains underprivileged young women in Kenya in licensed construction skills, which boosts their financial well-being, modifies masculine attitudes, and advances gender equality in the sector.
Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Crowdfunding Market by Deployment Model, 2019-2029 (USD Billion)
4.1. Cloud-based
4.2. On-premise
5. Crowdfunding Market by Industry, 2019-2029 (USD Billion)
5.1. Technology
5.2. Healthcare
5.3. Cultural sector
5.4. Product-based
6. Crowdfunding Market by End Use, 2019-2029 (USD Billion)
6.1. Donation
6.2. Equity Crowdfunding
6.3. Reward-based Crowdfunding
6.4. Equity Investments
6.5. P2P Lending
7. Crowdfunding Market by Price Range, 2019-2029 (USD Billion)
7.1. Starter
7.2. Mid-range
7.3. Enterprise
8. Crowdfunding Market by Region 2019-2029 (USD Billion)
9. Competitive Landscape
10. Company Profiles
11. Appendix
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