According to the latest report by IMARC Group, titled “Crowdfunding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” 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.
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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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.
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List of Key Companies Covered in this Market Report:
- CircleUp Network Inc.
- Crowdfunder Limited
- Fundable LLC
- Fundrise LLC
- GoFundMe Inc.,
- Indiegogo Inc.
- Patreon Inc.
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 Geography:
- 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
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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