IMARC Group, a leading market research company, has recently releases report titled “Crowdfunding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global crowdfunding market report, share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the crowdfunding market?
The global crowdfunding market size reached US$ 14.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.9 Billion by 2028, exhibiting a growth rate (CAGR) of 11.6% during 2023-2028.
What is crowdfunding?
Crowdfunding is a method used to raise capital to finance a venture or project from numerous individuals through the internet. It relies on several websites and social media platforms to reach entrepreneurs and investors together. It is a creative method of acquiring capital for new enterprises, concepts, and endeavors. It aids in raising funds for a charitable cause, creative project, business startup, school tuition, and personal expenses by asking a large number of individuals to donate money in small amounts. In addition, it allows companies to pre-sell at their convenience and promote their products. As a result, crowdfunding is widely adopted in the publishing, technology, social cause, entrepreneurship, real estate, and technology sectors.
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What are the growth prospects and trends in the crowdfunding industry?
The market is primarily driven by the increasing incidence of chronic ailments among individuals. In addition, the rising crowdfunding activities on social media platforms, extensive advertising campaigns, and celebrity endorsements are encouraging people to support, which is contributing to the market growth. Moreover, technological innovations, such as the integration of artificial intelligence (AI) and machine learning (ML) in crowdfunding platforms, represent other major growth-inducing factors. Besides this, the implementation of various government policies to support crowdfunding platforms, creative ideas, and projects and minimize healthcare costs are accelerating the product adoption rate. Furthermore, non-governmental organizations (NGOs) are investing in and promoting crowdfunding campaigns to increase financial support and organizing sports events to raise funds in a shorter time frame, which is creating a positive market outlook
What is included in market segmentation?
The report has segmented the market into the following categories:
The report has segmented the market on the basis of type, end use and geography.
Breakup by Type:
- P2P Lending
- Equity Investment
- Hybrid
- Reward-based
- Others
Breakup by End Use:
- Entrepreneurship
- Social Cause
- Movies and Theater
- Real Estate
- Music
- Technology
- Publishing
- Others
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- CircleUp Network Inc.
- Crowdfunder Limited
- Fundable LLC
- Fundrise LLC
- GoFundMe Inc.,
- Indiegogo Inc.
- Patreon Inc.
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