The GMI Research’s latest analysis illustrates that the global crowdfunding market is slated to register a higher CAGR over the forecast period. This is mainly due to the increasing popularity of different social media platforms, which include Twitter, LinkedIn, and Facebook, followed by the rising awareness related to the various advantages offered by crowdfunding, such as decreased financial risks, improves time efficiency and helps in brand promotion.
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Global Crowdfunding Industry Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
One of the major factors that is boosting the growth of the crowdfunding market size includes the growing popularity of social media platforms including Facebook, LinkedIn, Twitter, and Instagram. Crowdfunding is one of the most affordable promotion sources, offers an efficient method of measuring public interest and various channel accessibility. The crowdfunding market analysis states that various crowdfunding platforms provide advantages such as broad reach, brand promotion, validation of the concept, decreases financial risks, time efficiency, and helps in marketing via social media, email newsletters, and other online marketing methods.
As per the crowdfunding market research, the outbreak of the coronavirus has further helped the crowdfunding market to grow at a significant rate. This is mainly due to the various donation crowdfunding to support people, communities, small businesses, and companies who are fighting against the COVID-19. In 2020, Facebook, Inc. increased its Community Help feature at the global level, which is a part of its COVID-19 efforts. This has allowed individuals to request or offer help to those impacted by the coronavirus pandemic and donate non-profit fundraisers. This feature was launched first in the U.S., France, Canada, the U.K., and Australia. Thus, this will further surge the crowdfunding market growth.
Global Crowdfunding Market’s leading Manufacturers:
- Kickstarter
- PBC
- EIT Health e.V.
- BuildHer
- Indiegogo, Inc.
- GoFundMe
- com
- Crowdcube Capital Ltd.
- GoGetFunding
- Patreon
- Crowdfunder Ltd.
Product Type Segment Drivers
Based on the product type, donation based crowdfunding is projected to witness a faster CAGR over the forecast period. This is mainly due to its rising popularity as it is a highly preferable mode of fundraising for organizations, entrepreneurs, and individuals who need funding for a social cause, medical expenses, education expenses, emergencies. Kickstarter, PBC, Ketto Online Ventures Pvt Ltd., and Indiegogo, Inc. are the leading companies in the donation-based crowdfunding market.
End-Use Application Segment Drivers
Based on the end-use application, healthcare application is anticipated to grow at a higher CAGR during the forecast period. This is attributed to the rising crowdfunding, particularly for initiatives, financing health expenses, research, and innovation in the healthcare industry. In 2020, the EIT Health e.V. and Aescuvest launched the crowdfunding campaign for German start-up Emperra GmbH E-Health Technologies, with an aim to offer digital technology for enhancing the lives of people with diabetes. This will help in increasing the growth of the crowdfunding market share in terms of revenue.
Global Crowdfunding Market Segmentation:
Segmentation by Product Type:
- Reward-Based Crowdfunding
- Equity Crowdfunding
- Donation
- Others
Segmentation by End-Use Application:
- Cultural Sector
- Technology
- Education
- Healthcare
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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