As per the latest report by IMARC Group, titled “Crowdfunding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global crowdfunding market size reached US$ 1.02 Billion in 2019. Crowdfunding aids in raising capital for a project or venture from many individuals using the internet. It relies on different websites and social networking platforms to directly access the market and eliminate the dependence on banks or venture capitalists. Nowadays, social media platforms are being preferred for crowdfunding by various companies as it acts as a free promotion resource and can reach a global audience. Moreover, it enables the companies to pre-sell and market products at their convenience.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Crowdfunding Market Trends:
With the continuously rising competition in the global crowdfunding market, the leading players are focusing on differentiating themselves from competitors with their offerings, innovation, price point and attractive offers. Apart from this, the increasing influence of social media is fueling the growth of the market as they offer a platform to provide feedback and valuable information on developing a new product. Consequently, several enterprises are promoting ideas on social media platforms for gauging audience interest. Furthermore, due to the outbreak of the coronavirus disease (COVID-19), numerous countries are actively relying on crowdfunding platforms to raise money to support the healthcare staff and provide them with the required equipment. For instance, Malaysia Digital Economy Corporation (MDEC) recently announced a partnership with the crowdfunding platform for donation crowdfunding to support the front liners with the MKN20 protocol to distribute the items to hospitals nationwide. Besides this, the launch of Sponsorships, a crowdfunding feature of YouTube, is assisting creators on the platform to monetizing their content and increase their overall engagement with the audience. Looking forward, the market is expected to reach a transaction value of US$ 1.24 Billion by 2025, expanding at a CAGR of 4% during the forecast period (2020-2025).
- Based on the type, the market has been segmented into P2P lending, equity investments, hybrid, reward-based and others.
- On the basis of the end use, the market has been segregated into entrepreneurship, social cause, movies and theater, real estate, music, technology, publishing, and others.
- Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being CircleUp Network, Inc., Crowdfunder, Inc., Fundable LLC, GoFundMe Inc., Indiegogo, Inc., and Patreon Inc.
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