According to the latest report by IMARC Group, titled “Crowdfunding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global crowdfunding market exhibited strong growth during 2015-2020. Looking forward, the market is expected to grow at a CAGR of around 17% during 2021-2026.
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.
Crowdfunding constitutes of raising funds for a project, business, or charitable cause with small contributions from a large group of people. It utilizes various means for funding, including equity investment, P2P lending, reward-based, donation-based, and hybrid crowdfunding models. Crowdfunding is majorly carried out online through websites and social media platforms by making the market directly accessible for the funders without any involvement of banks or venture capitalists. It is a more scalable, flexible, and efficient fund-raising solution as compared to the conventional methods.
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The sudden outbreak of the COVID-19 pandemic has propelled several non-profit organizations to provide financial support via crowdfunding campaigns. These campaigns give access to more extensive networks of people in a shorter timeframe. Moreover, the growing social media influence enables individuals to provide feedback and vital information for the demand and development of the product. Furthermore, the launch of crowdfunding features, such as Sponsorships by YouTube, facilitates platform creators to monetize their content and enhance audience engagement, thereby driving the market growth. Moreover, the emergence of peer-to-peer (P2P) lending is expected to drive the market for crowdfunding in the coming years.
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The report has segmented the market on the basis of type, end use and geography.
Breakup by Type:
Breakup by End Use:
Breakup by Geography:
The report has also analysed the competitive landscape of the market with some of the key players being CircleUp Network Inc., Crowdfunder Inc., Fundable LLC, Fundrise LLC, GoFundMe Inc., Indiegogo Inc. and Patreon Inc.
Key highlights of the report:
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