Crowdfunding refers to a way to raise funds for a specific cause donated by a large number of interested people in small amounts and usually during a relatively short period of time, such as a few months. This is frequently done through social networks, which allow supporters to easily share a cause or project cause with their social networks. It allows fundraisers to collect funds from a huge number of individuals using online channels.
Sizing and Forecast
The crowdfunding market size has grown rapidly in recent years. It will grow from $15.42 billion in 2023 to $17.87 billion in 2024 at a compound annual growth rate (CAGR) of 15.9%. The growth in the historic period can be attributed to start-up and small business funding needs, access to global capital, support for creative projects, crowdfunding for social causes, regulatory environment and frameworks.
The crowdfunding market size is expected to see rapid growth in the next few years. It will grow to $32.93 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to diversification of crowdfunding models, real estate crowdfunding growth, increased adoption by established businesses, technological integration and platforms, global expansion of crowdfunding ecosystem. Major trends in the forecast period include cross-border crowdfunding campaigns, introduction of non-fungible tokens (NFTs) in crowdfunding, rise of community-powered crowdfunding, use of smart contracts for crowdfunding execution, increased crowdfunding for real estate projects.
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Segmentation & Regional Insights
The crowdfunding market covered in this report is segmented –
1)By Type: Equity-based Crowdfunding, Debt-based Crowdfunding, Others Types
2)By Platform Type: Open Service Platform, Managed Service Platform
3)By Application: Food And Beverage, Technology, Media, Real Estate, Healthcare, Others Applications
North America was the largest region in the crowdfunding market in 2023. Asia-pacific is expected to be the fastest-growing region in the global crowdfunding market during the forecast period. The regions covered in the crowdfunding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increasing the use of social media platforms is expected to boost the growth of the crowdfunding market going forward. A social media platform offers a service to the general public for the purpose of disseminating communication, speech, news, or other content, usually in the form of messages, videos, pictures, or sound files. Social media acts as a tool to promote and publicize crowdfunding initiatives and also fetch funds for crowdfunding campaigns using an internet platform, as a result, the increasing use of social media increases the demand for crowdfunding. For instance, in January 2023, according to Hootsuite, a Canada-based social media management platform, globally, 4.2 billion people used social media regularly. This suggests that social media is continuing rapidly developing, with 490 million more users than at the start of 2020. It also has 53.6% of the world’s population (around 7.8 billion people). Therefore, the increasing use of social media platforms is driving the growth of the crowdfunding market.
Key Industry Players
Major companies operating in the crowdfunding market report are JD.com Inc. (Jingdong), Alibaba Group Holding Limited, Suning Holdings Group Co. Ltd., BNP Paribas Securities Services, LendingClub Corporation, GoGetFunding Inc., bitFlyer Inc., Thunder Funding, GoFundMe Inc., Indiegogo Inc., Public Good Inc., StartEngine Inc., AngelList LLC, Wefunder Inc., Nav Technologies Inc., Crowdfunder, Kiva, Fundable, Crowdcube Limited, Kickstarter PBC, Ulule, SeedInvest Technology LLC, Owners Circle, Realcrowd Inc., Pozible Pty Ltd, CircleUp, Mightycause, Fundly, Patreon Inc., DuckDAO, Funderbeam Inc., MintMe, Gronns Protocol, Prosper Funding LLC, RocketHub, Fundrise LLC, RealtyMogul LLC
The crowdfunding market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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