According to a new report, 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, a press release states.
Easy access to capital as compared to 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.
BIG PLAYERS MOVES
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.