Crowdfunding platforms raised $16.2 billion in 2014, more than doubling the $6.1 billion amassed in 2013.
Collecting information from 1,250 active Crowdfunding Platforms (CFPs), the research firm Massolution, who specialise in crowdsourcing and crowdfunding industries, released its annual Crowdfunding Industry Report this week. The report reveals the staggering global increases in revenue for the market.
Territorially, North America maintains its dominance from 2013, with crowdfunding volumes growing 145 per cent to $9.46 billion. The second largest region for Crowdsourcing levels has changed hands to Asia, who marginally overtakes Europe with volumes of $3.4 billion compared to Europe’s $3.26 billion. Asia is now seen as the fastest growing nation for Crowdsourcing activity.
There are five major forms of crowdsourcing that have been accounted for in Massolution’s report. Lending-based crowdsourcing saw an unprecedented amount of growth in 2014, with a 223 per cent increase in funding, totalling $11.08 billion for the year. But Lending-based crowdsourcing is not the fastest growing form. Equity-based crowdfunding has grown 182 per cent, meaning that the allocation of funding volume across different models could be more highly distributed over the coming years. This would allow financial progression for hybrid, donation and royalty-based crowdfunding.
The high growth in Crowdfunding platforms for 2014 signals even further development for the future.
‘‘Acceleration continued in 2014 achieving an impressive $16.2 billion in funding volume and we are forecasting that worldwide crowdfunding volumes will more than double again in 2015, to reach $34.4 billion,’’ said Carl Esposti, CEO of Massolution.
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