Global crowdfunding market expected to grow to USD 4.41 billion by 2033

From GlobeNewswire: 2024-06-06 07:00:00

The global crowdfunding market is expected to grow from USD 1.19 billion in 2023 to USD 4.41 billion by 2033, with a CAGR of 14.00%. Crowdfunding allows entrepreneurs and creators to raise money from the public. Debt-based crowdfunding is forecasted to hold the largest market share. The food and beverages segment is also expected to lead in market share. North America is projected to dominate the market, with Asia Pacific expected to grow rapidly. Notably, CircleUp Network Inc. was acquired by Brightflow AI in June 2023.

This growth is attributed to factors such as the rise of social media and digital platforms, which have increased visibility and accessibility for crowdfunding campaigns. However, challenges such as time-consuming processes and lack of awareness among the general public might hinder market growth. The global crowdfunding market is segmented by type (debt-based, equity-based, reward-based, donation-based, others) and application (food and beverages, technology, media and entertainment, real estate, healthcare, others). Major vendors in the market include Fundly, Indiegogo, Kickstarter, StartSomeGood, and more.

In terms of regions, North America is expected to lead the market due to increased competition and funding raised in the region. Asia Pacific is predicted to grow the fastest, driven by digitalization and access to the internet in developing economies. Market segmentation includes type (debt-based, equity-based, reward-based, donation-based, others) and application (food and beverages, technology, media and entertainment, real estate, healthcare, others). Spherical Insights & Consulting provides market research and consulting services to industries like finance, government, non-profits, and more. Contact them for more information.



Read more at GlobeNewswire: Global Crowdfunding Market Trends To Worth USD 4.41 Billion