Crowdfunding Market Size Worth $1.30 Billion by 2028 - Million Insights

FELTON, Calif., March 16, 2022 /PRNewswire/ -- 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.

Browse more Research Reports published by Million Insights

• Musical Instruments Market - The global musical instruments market size is expected to reach USD 27.77 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 5.3% from 2021 to 2028. Technological innovations by manufacturing companies and increased consumer spending on music-related activities are driving the market. The growing popularity of live music festivals and concerts is one of the major factors influencing the market growth. Increased consumers' inclination toward attending live concerts and not restricting to recorded music is positively influencing the growth of the market.
• Summer Sports Equipment Market - The global summer sports equipment market size is expected to reach USD 35.60 billion by 2028, registering a CAGR of 3.6% over the forecast period, according to a new report by Million Insights. Growing awareness regarding rehabilitation and strength training across the globe will propel the market growth. The market growth is owing to the rising demand for machine-stitched balls, especially from the Europe region. Moreover, the growing demand for technologically advanced tennis racquets from global consumers is propelling the market growth.
• Skin Treatment Market - The global skin treatment market size is expected to reach USD 19.35 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 2.7% from 2021 to 2028. The market growth is attributed to the rising demand for soft gel products from consumers in the U.S. and China. Moreover, the increasing demand for oral capsules and external cream from Asia Pacific is anticipated to boost the market growth over the forecast period.

Explore Snapshots by Million Insights, for industry specific reports that provide real-time market trends and forecasts, by condensing the integral elements from our industry reports into bite-sized paragraphs, charts, and tables.

Access More Snapshot Reports and Press Releases.

About Million Insights:

Million Insights, is a market research and consulting company, provides syndicated as well as customized research reports and consulting services. We have a comprehensive marketplace, that will enable you to compare data points, before you make a purchase. Enabling informed buying, is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.

Contact:

Ryan Manuel
Research Support Specialist, USA
Million Insights
Phone: 1-408-610-2300
Toll Free: 1-866-831-4085
Email: sales@millioninsights.com
Web: https://www.millioninsights.com/
Follow Us: LinkedIn | Twitter