The global crowdfunding market size is estimated to reach USD 1.30 billion by 2028 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.4% from 2021 to 2028, according to a new report by Million Insights. Easy access to the capital as compared to the traditional funding is the crucial factor that drives the growth of the market. Social media as a source of free-of-cost promotion is another factor that drives the market. However, frauds and cyber-security breaches are observed as the important risks of crowdfunding globally and are the key factors restraining the growth of the market. Most of the major players operating in the market are implementing various strategies, such as new product launches, mergers, and acquisitions, to gain maximum share in the global market.
Crowdfunding Market Report Highlights:
- The startups segment is likely to register the fastest CAGR from 2021 to 2028. Crowdfunding popularity has increased globally in the last couple of years, as more and more startups have shifted towards these platforms to fund their projects.
- North America is expected to be the fastest-growing regional market from 2021 to 2028.
- The U.S. is the leading country in the North America market due to the high number of startups, which creates a lucrative opportunity for crowdfunding platforms.
- Asia Pacific accounted for the largest market share of more than 80% in 2020. In 2020, China was the major country in the world that contributed largely to this market.
- According to the Cambridge Centre for Alternative Finance, reward-based crowdfunding is the most popular crowdfunding platform in China, in terms of the number of participants.
- Moreover, reward-based crowdfunding platforms in Asia Pacific place “media and promotion” as their main focus of research and development, which contributes to the regional market growth.
Crowdfunding Market Growth & Trends
The COVID-19 pandemic has positively impacted the market. Crowdfunding platforms helped many start-up companies and small-scale businesses impacted by the pandemic. According to Enventys Partners, the number of Kickstarter projects from January to April 2020, experienced a surge of 8.93% over the previous year in spite of the COVID-19 pandemic. Thus, the pandemic has played an important role in pushing the growth of the market. The small businesses segment accounted for the largest revenue share in 2020.
Most of the small businesses are choosing crowdfunding platforms for raising funds for their project or business. According to The Wall Street Journal, numerous small businesses have launched GoFundMe campaigns in 19 nations in recent times. Thus, the crowdfunding demand for small businesses is high and contributed more to the market revenue.
Read synopsis or request for a free sample of market research report, “Crowdfunding Market Size, Share & Trends Analysis Report by Type (Small Businesses, Startups, Artists), By Region (Asia Pacific, North America, Europe, MEA), And Segment Forecasts, 2021 – 2028″, published by Million Insights.
Crowdfunding Market Segmentation
Million Insights has segmented the global crowdfunding market on the basis of type and region:
Crowdfunding Type Outlook (Revenue, USD Million, 2017 – 2028)
- Small Businesses
- Startups
- Artists
Crowdfunding Regional Outlook (Revenue, USD Million, 2017 – 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
List of Key Players of Crowdfunding Market
- GoFundMe, Inc.
- Indiegogo, Inc.
- Kickstarter, PBC
- Patreon, Inc.
- Pozible Pty Ltd.
- Thunder Fund
- Crowdfunder Ltd.
- Fundable LLC
- RocketHub Inc.
- Nav Technologies, Inc.
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