New data indicates that the global crowdfunding transaction value will grow annually at the rate of 12% between 2020 and 2023.
The data, gathered by Learnbonds.com, shows that within the next three years, the value will be $11.98 billion.
Crowdfunding transaction value consistently grows over three years
According to the data in 2020 the total transaction value for crowdfunding is $8.53 billion while estimates for next year are $9.97 billion. In 2022, the value is set to be $11.11 billion.
Over the last three years, the transaction value has been growing steadily to register $3.98 billion (2017), $5.32billion (2018) and $6.92 billion (2019).
According to the report: “The data focuses on reward-based crowdfunding and pre-financing products like music through platforms like Kickstarter, Indiegogo.”
The growth in transaction value is reflected by the increasing number of crowdfunding campaigns. In 2023, the campaigns are set to stand at 12.06 million. This year, the campaigns will be 10.94 million.
In 2021 and 2022, the campaigns will be 11.82 million and 12.02 million campaigns respectively. The campaigns have been growing since 2017 when the figure stood at 5.20 million while 2018 recorded 6.46 campaigns. Last year the figure was 8.72 million.
The crowdfunding campaigns record varied average amounts per funding. This year the average funding per campaign is $780. Over the last three years, the figure has been fluctuating to record $765 (2017), $824 (2018) and $794 (2019).
By estimates, the average in 2021 will be $843, which will later grow by 8.7% in 2022 to hit $924. By 2023, the average will be $994.
On a global scale, the highest total transaction values went to East Asia at $7.08 billion with China accounting for $7.05 billion. North America has $830 million, with the United States taking $782 million. In total, central and western European countries accounted for $296 million of the crowdfunding transaction value.