Crowdfunding Industry Development: Gaining Leading Role in Digital Economy and Future Trends
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Date
2020-01
Authors
Andriushchenko, Kateryna
Андрющенко, Катерина Анатоліївна
Андрющенко, Екатерина Анатольевна
Tepliuk, Mariia
Теплюк, Марія Анатоліївна
Теплюк, Мария Анатольевна
Pokotylska, Nataliia
Vinichenko, Igor
Kuchai, Oksana
Mishchenko, Dmytro
Journal Title
Journal ISSN
Volume Title
Publisher
Sciedu Press
Abstract
In the course of the study, it was found that crowdfunding companies follow a certain stage in their functioning and
development: choosing a platform; category selection; the wording of the crowdfunding campaign; definition of a
financial goal; determination of the project duration; definition of a reward system; creating a video message;
description of the project; regular updates; monitoring the fundraising process. By conducting research on the
international market, it was found that with a market size of $ 358.28 billion and a share of 85.99%, China is the
largest crowdfunding market in the world. Also, it should be noted the Asia-Pacific region, as Australia took 4th
place with funding of $ 1.49 billion, and South Korea - 5th place with $ 1.13 billion, we also find other countries in
the Asia-Pacific region in the list of the largest crowdfunding countries in the world. The results of our study
concluded that there are many players in crowdfunding in Europe, especially in the field of P2P lending, compared
with the Americas and the Asia-Pacific region, as a whole it is a small region. The article also notes the advantages
and disadvantages of the crowdfunding development in modern conditions of market functioning.
Description
Keywords
crowdfunding, crowdfunding companies, market size, fourth industrial revolution, digitization
Citation
Crowdfunding Industry Development: Gaining Leading Role in Digital Economy and Future Trends / Kateryna Andriushchenko, Mariia Tepliuk, Nataliia Pokotylska [et al.] // Research in World Economy. – 2020. – Vol. 11, Iss. 6, January. – P. 311–323.