What is the global market size of Crowdfunding Market?

Global Crowdfunding Market size was valued at USD 1.43 billion in 2021 and is poised to grow from USD 1.67 billion in 2022 to USD 6.7 billion by 2030, growing at a CAGR of 16.7% in the forecast period (2023-2030).

Crowdfunding Market Size, Share, Growth Analysis, By Product Type(Reward-based Crowdfunding, Equity Crowdfunding, Donation, Others.), By Sales Model(Reward, P2P Lending, Equity Investment, Hybrid), By End-user(Cultural Sector, Technology, Product, Healthcare), By Deployment(On Premise, Cloud), By Region - Industry Forecast 2024-2031

Report ID: SQSG40D2002 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 120 | Figures: 77

Crowdfunding Market Insights

Global Crowdfunding Market size was valued at USD 1.43 billion in 2022 and is poised to grow from USD 1.67 billion in 2023 to USD 6.7 billion by 2031, growing at a CAGR of 16.7% in the forecast period (2024-2031).

Crowdfunding is the process of attaining a huge number of small donations from a crowd of people from various landscapes and areas. Contribution and charity for a specific cause and need could also be defined as crowdfunding. The contributor’s decision to participate in crowdfunding could be driven by various marketing strategies that are being performed on various social and mass media platforms by influencing the crowd to donate towards a greater cause. Crowdfunding organizations are expanding their influence to a global audience through various social media platforms nowadays. This is an easier way of promoting and conducting sales marketing of products for various businesses. So, increasing crowdfunding activities in social media is expected to increase the demand, and various models such as P2P funding, and growing smartphone and internet usage in return will push crowdfunding market growth in the forecast period.

US Crowdfunding Market is poised to grow at a sustainable CAGR for the next forcast year.

Crowdfunding Market Report Snapshots

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The Crowdfunding market is relatively fragmented, with a high level of competition. Few large players, like Kickstarter, Patreon, and Indiegogo Inc., now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Indiegogo Inc.', 'GoFundMe Inc', 'Crowdcube Limited', 'Kickstarter', 'Crowdfunder', 'Patreon', 'Fundable', 'RocketHub', 'Seedrs', 'CircleUp', 'Kiva', 'FundRazr', 'Ulule', 'FundedByMe', 'Tilt', 'Chuffed', 'Experiment', 'AngelList', 'Fundly', 'Razoo'

With the increasing use of crowdfunding platforms in supporting and helping with donations to people who have lost a lot in the pandemic in driving the awareness and utility of these platforms. Capital donations for charities that support and empower people are some of the social causes that are fulfilled by these crowdsourcing platforms which in turn is driving the demand in the market globally.

The raising demand for seed capital through online platforms and offering investors the perk for their contribution to the development of a company is reward-based crowdfunding. Here the capital is raised from a bank by the company on the basis of its project and the bank receives a reward. This type of funding is raised by early-stage companies or for a specific project that needs to be executed which will generate higher revenue in the future. This all enables the crowdfunding market to grow at a faster rate.

In 2021, the global crowdfunding market was dominated by Europe which accounts for 44% of the total market revenue globally. This market size and revenue growth are expected to boom at the same pace because of the growing participation of countries in the region to accept and adapt the process of crowdfunding. The European Union has decided to expand the use of the crowdfunding system beyond the EU countries to various other regions present in Europe. North America and the Asia Pacific are expected to grow at the highest CAGR in the coming time period and this will be driven by penetration of the internet and the growing use of social media for supporting a cause by doing crowdfunding. These initiatives taken up by crowdsourcing organizations and various multimedia platforms will enable growth in the sector in the coming years.

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