USD 1.43 billion
Report ID: SQSG40D2002 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 120 | Figures: 77
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 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.
Global Market Size
USD 1.43 billion
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The Global Crowdfunding Market is segmented on the basis of Product Type, End-user, and region. Based on Product Type, the Crowdfunding Market is segmented into Reward-based Crowdfunding, Equity Crowdfunding, Donation, and Others. Based on End-user, the Crowdfunding Market is segmented into Cultural Sector, Technology, Product, and Healthcare. Based on sales type the Crowdfunding Market is segmented into Reward, P2P Lending, Hybrid, Equity Investment, and Others. In terms of deployment the Crowdfunding Market is bifurcated into on-premise and cloud. Based on region, the global Crowdfunding market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Crowdfunding Market Analysis by Product Type
The global crowdfunding market is segmented into Reward-based Crowdfunding, Equity Crowdfunding, Donation, and Others. Equity crowdfunding holds the largest revenue share of the total funding market in 2021, as the seed capital is an important expectation to keep the business running in the long run. As start-ups when in the pre-profit-making stage need this large capital, they prefer raising it through equity crowdfunding and attracting investors to the company. This all enables the companies to engage and build new networks and socialize that could be leveraged later. Reward-based crowdfunding and donations are the fastest growing method for doing so as it is driven by a specific cause and many people want to associate themselves with a greater cause that is why donations have seen a significant increase in revenue and are expected to grow more during the analysis period.
Crowdfunding Market Analysis by End-user
In 2021, the technological and product segment holds the largest revenue share for the crowdfunding market and some other segments of the crowdfunding market are the cultural and healthcare sector. Increasing the use of various AI and ML technological advancements in various fields is one of the reasons for increasing funding and growing revenue share of the technological and product sector. The increasing internet usage and growing awareness regarding individual health is expected to drive the cultural and healthcare sector in the coming years.
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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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Crowdfunding Market Driver
Crowdfunding Market Restraint
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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.
Crowdfunding Market Top Player’s Company Profiles
Crowdfunding Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global crowdfunding market was dominated by Europe in 2021. Equity crowdfunding holds the largest revenue share of the total funding in 2021, as the seed capital is an important expectation to keep the business running in the long run. As start-ups when in the pre-profit-making stage need this large capital, they prefer raising it through equity crowdfunding and attracting investors to the company. 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 during the analysis period of 2022 - 2028.
|Market size value in 2021||USD 1.43 billion|
|Market size value in 2030||USD 1.67 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Crowdfunding Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Crowdfunding Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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