Crowdfunding Market is forecast to witness a promising growth over the coming years, owing to the growing use of social media as a promotional source.
Crowdfunding is an economical promotional source which offers an efficient way to measure public interest and help an organization raising funds in a shorter time, which stands to be a major driver fueling the crowdfunding market share. Growing prominence of social media platforms including Instagram, Facebook, and Twitter is expected to contribute to the market growth. Additionally, the coronavirus pandemic left a positive impact on the crowdfunding market size, primarily donating crowdfunding as it helped and supported communities, and small businesses organizations to fight against this virus.
By product type, donation-based crowdfunding is predicted to grow at a faster CAGR during the forecast period, as it is one of the most used fundraising modes by organizations, entrepreneurs, and individuals who need funding for an education expense, social cause, medical expenses, emergencies.
By end-use application, healthcare segment is forecast to expand at a faster CAGR during the forecast period owing to the expansion in the healthcare sector. For example, in 2020, the EIT Health e.V. and Aescuvest launched a crowdfunding campaign for German start-up, Emperra GmbH E-Health Technologies, intending to offer digital technology for upgrading the lives of people with diabetes.
By regional coverage, Asia-Pacific is estimated to lead the market over the forecast period, owing to the expansion of crowdfunding market in UK, Germany, Netherlands, and France. As per the Crowdfunding Market report, the strong presence of various companies, including Crowdcube Capital Ltd, Funding Circle, Our Crowd, FundByMe, and Spreds, are further propelling the crowdfunding market growth.
Crowdfunding Market Segmentation:
Crowdfunding Market by Product Type
- Reward-Based Crowdfunding
- Equity Crowdfunding
Crowdfunding Market by End-Use Application
- Cultural Sector
Crowdfunding Market by Region:
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
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