Global Crowdfunding Market Size, Share, Growth & Trends Analysis Report By Product Type (Reward-Based Crowdfunding, Equity Crowdfunding, Donation, and Others),
The GMI Research forecasts that the Crowdfunding Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the enormous benefits compared to traditional methods like time efficiency and broad reach.
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Introduction of the Crowdfunding Market:Crowdfunding refers to the concept of crowdsourcing and microfinancing by reuniting various individuals who commit a particular amount of money to projects and entities they want to support. It is done through online via social media and crowdfunding platforms and is one of the popular ways for people, businesses, and charities to raise money through online platforms.
Key Players of the Global Crowdfunding Market:The crowdfunding market is forecasted to witness significant growth in the near future. The immense prominence of social media platforms which include Twitter, LinkedIn, Instagram, and Facebook, is one of the crucial drivers supplementing the market growth. Moreover, this is the most economical source of promotion, and effective way to measure public interest, the availability of enormous channels, and pre-selling of a product. Also, the platform provides various advantages over conventional modes of fundraising, which include wide reach, less financial risk, brand promotion, validation of the concept, and marketing with the assistance of social media and email newsletters.
Additionally, the widespread outbreak of the coronavirus pandemic has positively influenced market growth. This is primarily attributed to the donation by crowdfunding to strengthen people, communities, and small businesses & organizations to fight against this virus. For example, Facebook, Inc., in 2020, enlarged its Community Help feature on a worldwide scale as part of its COVID-19 efforts. This will enable people to request or provide aid to those affected by the coronavirus, as well as donate to non-profit fundraisers. This feature was initiated first in the U.S., Canada, France, U.K., and Australia.
However, the probability of inspection and rejection, theft of ideas, seeping out of valuable information, immense effort, and time consumption will hinder the market growth. Moreover, the absence of direct control over the business by investors and chances of losing investment will curb the crowdfunding market share.
Crowdfunding Market Segmentation: Segmentation by Product TypeAbout GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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