LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global crowdfunding market to grow at a CAGR of over 17% during the forecast period, according to their latest market research report. However, the market’s momentum will decelerate in the coming years because of the decrease in year-over-year growth.
The use of crowdfunding campaigns as avenues for crowdsourcing is one of the major trends being witnessed in the global crowdfunding market 2018-2022. Crowdfunding campaigns allows entrepreneurs to interact with customers and understand their expectations. This helps them to enhance product value proposition and measure product success before the actual launch. Thus, the use of crowdfunding campaigns has become a popular avenue for crowdsourcing.
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According to Technavio analysts, one of the key factors contributing to the growth of the global crowdfunding market is the use of social media as a free of cost promotion source:
Crowdfunding Market: Use of Social Media as a Free of Cost Promotion Source
Social media provides an opportunity to pre-sell a product and also acts as a free of cost marketing tool. Thus, an active crowdfunding campaign can go further than just acquiring the required funds. Social media campaigns are inexpensive and can rapidly access multiple channels. Thus, the use of social media as a free of cost promotion source will fuel the growth of the crowdfunding market size during the forecast period.
According to a senior analyst at Technavio for research on diversified consumer services, “Blockchain-based crowdfunding is gaining immense popularity as it decentralizes the funding model while eliminating the risks associated with data security. Blockchain allows startups to create their digital currencies and sell them, in turn, allowing them to raise funds from early birds. Thus, the emergence of blockchain technology will fuel the growth of the crowdfunding market during the forecast period.”
Crowdfunding Market: Segmentation Analysis
The global crowdfunding market research report provides market segmentation by business model (P2P lending, equity investment, reward, hybrid, and others) and geography (Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, accounting for more than 50% share, followed by EMEA and APAC, respectively. Although the APAC region held the smallest share of the market, it is expected to witness the highest crowdfunding market growth throughout the forecast period.
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