Crowdfunding Market is expected to grow with a CAGR 16.50% from 2022 to 2028
As stated in our extensive report; providing insights on Product Type, End-User Applications and Region; the Global Crowdfunding Market accounted for USD 17.39 Billion in the year 2021.
Crowdfunding as its name indicates, the funding or venture by raising money from many people with the help of an online platform. The concept is among one of the most prominent and successful as in 2015, over USD 34 Billion were raised by Crowdfunding. During the last few years, there is a significant increase in mobile users which has led to an increase in the Crowdfunding across the globe. Continuously increasing competition has led the companies to adopt new techniques for promotion and funding. Continuously increasing internet accessibility, social medial channels, and increasing awareness among the people have boosted the growth of the market.
Free-of-charge promotion through social media is among the prominent factor for the market growth across the globe. The social media platform is most successful as it is the best way to reach a group of people in a short time and low cost.
However, as it is mainly operated through online channels, the risk of a cyberattack is very high; which is among the major restraining factor for the growth of the market. To overcome this, many government organizations are helping to develop trusted platforms to minimize the cyberattack.
Europe holds the major share in the market, whereas, Asia Pacific holds the fastest growth for the market. High awareness, availability of funding, and well-established technology have driven the growth of the market. Continuously increasing number of startups in Asia Pacific Especially in India and China have boosted the growth of the market. The presence of developing economies in the Asia Pacific will drive the growth of the market
Some of the key players in the Global Crowdfunding Market include Kickstarter PBC, Indiegogo Inc., GoFundMe Inc., Fundable LLC, Crowdcube Limited, GoGetFunding, Crowdfunder Inc., Alibaba Group Holding Limited, Wefunder Inc., Fundly, Jingdong Inc., Suning.com Co. Ltd, Owners Circle, Realcrowd Inc. and others.
Browse the full Report - Crowdfunding Market Size, Share & Trends Analysis Report by Product Type (Reward-based Crowdfunding, Equity Crowdfunding, Donation and Others), by End-user Applications (Cultural Sector, Technology, Product, Healthcare), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)