Crowdfunding Statistics 2024: Key Insights and Global Market Trends

WHAT WE HAVE ON THIS PAGE

1 Editor’s Choice: Key Crowdfunding Milestones
2 Global Market Size and Growth Projections
3 Crowdfunding by Region
4 Average Success Rate
5 Demographics of the Crowd
6 Platform-Specific Statistics
7 Trends in Crowdfunding Campaign Types (Equity, Donation-based, Reward-based)
8 Statistics of Crowdfunding Campaigns
9 Regional Insights and Geographical Growth
10 Recent Developments
11 Conclusion
12 References

Crowdfunding has transformed the way individuals, startups, and even established businesses raise funds. From grassroots efforts to massive global campaigns, it has evolved into a dynamic industry with significant growth year after year. In 2024, crowdfunding is expected to continue its upward trajectory, fueled by the increasing demand for alternative financing methods. Whether you’re a budding entrepreneur looking to launch a product or someone keen on supporting meaningful causes, crowdfunding offers a powerful tool for making dreams a reality. Let’s explore the key milestones, market growth, and emerging trends that define the 2024 crowdfunding landscape.

Editor’s Choice: Key Crowdfunding Milestones

Crowdfunding revenue is projected to reach $25.8 billion globally by the end of 2024, marking a significant increase from $20.7 billion in 2020.
More than 6.5 million crowdfunding campaigns were launched worldwide in 2023, showcasing the platform’s increasing adoption.
Equity crowdfunding is expected to see a 27% growth rate in 2024, driven by investor interest in startups and early-stage businesses.
The average crowdfunding success rate across all platforms is 22.4%, with reward-based campaigns boasting the highest success rate at 39.6%.
The number of backers contributing to campaigns grew to over 12.3 million in 2023, emphasizing the broadening base of supporters for crowdfunding projects.
Kickstarter remains the most popular platform, with over $7 billion pledged across 230,000 successfully funded projects by the end of 2023.
Real estate crowdfunding saw significant growth, with $10 billion raised in the sector in 2023, a trend that is expected to continue as investors seek diversified assets.

Global Market Size and Growth Projections

The global crowdfunding market is forecast to grow at a 12.5% CAGR (compound annual growth rate) from 2023 to 2028, reaching an estimated $39 billion by 2028.
Asia-Pacific is expected to dominate the market with a projected market share of $16.7 billion by 2024, driven primarily by platforms in China.
North America will maintain strong growth, with a projected value of $9.2 billion by 2024, continuing its position as the second-largest crowdfunding region.
Europe will experience moderate growth, reaching $5.1 billion in crowdfunding investments by 2024, fueled by innovative platforms and relaxed regulations.
In 2023, over 60% of all crowdfunding revenue was generated via online platforms, highlighting the increasing digitalization of fundraising efforts.
Donation-based crowdfunding is expected to surpass $5 billion in global market value by the end of 2024, driven by charitable causes and social impact campaigns.
Blockchain-powered crowdfunding solutions are gaining traction, with expected growth of 40% year-over-year as more campaigns adopt decentralized funding models.

Region	Crowdfunding Market Size (in billion USD)
Asia-Pacific	16.7
North America	9.2
Europe	5.1

Crowdfunding by Region

China continues to lead the global crowdfunding market, contributing $8.8 billion to the global crowdfunding revenue in 2023.
The United States ranks second, accounting for $5.5 billion in crowdfunding revenue in 2023, with expectations to grow further in 2024.
The United Kingdom remains the top performer in Europe, with $1.8 billion raised in 2023 through equity and reward-based platforms.
Australia saw rapid growth in 2023, with crowdfunding investments rising by 15%, making it one of the fastest-growing regions in the Asia-Pacific market.
Germany and France collectively raised over $1 billion in crowdfunding investments in 2023, with both countries increasingly adopting equity crowdfunding for startups.
Latin America is projected to see an 18% growth in crowdfunding campaigns by 2024, driven by platforms focused on small businesses and social enterprises.
Africa remains an emerging market in crowdfunding, with South Africa leading the region with $75 million raised in 2023.

These insights and trends showcase the growing impact of crowdfunding across various regions, reflecting its status as a viable financing alternative for diverse projects.

Average Success Rate

The average success rate of crowdfunding campaigns across all platforms is 22.4% as of 2024, showing a slight decline from 23.2% in 2023.
Reward-based campaigns have the highest success rate at 39.6%, driven by tangible incentives and strong community engagement.
Equity crowdfunding sees a success rate of approximately 20%, largely due to the higher financial thresholds required to meet campaign goals.
Donation-based crowdfunding maintains a 25% success rate, especially for charitable and social impact campaigns where emotional appeals are powerful.
Crowdfunding campaigns with clear and compelling videos are 60% more likely to succeed than those without multimedia content, emphasizing the importance of visual storytelling.
Campaigns that raise 30% of their goal within the first week have a 75% chance of success, underlining the importance of early momentum.
Projects in the technology and design categories tend to have higher success rates, with hardware and gadget projects showing a 50% success rate in 2023.

Demographics of the Crowd

Millennials (aged 25-40) continue to be the most active group in crowdfunding, representing 42% of total backers in 2023.
The Gen Z demographic (aged 18-24) is emerging as a significant contributor, making up 20% of all crowdfunding supporters, a jump from 15% in 2021.
Women now account for 47% of crowdfunding participants, with many supporting campaigns focused on social causes and entrepreneurship.
Men are still slightly more dominant, contributing to 53% of crowdfunding campaigns, particularly in the technology and gaming sectors.
The average pledge per backer was $96 in 2023, a slight increase from $91 in 2022, reflecting growing consumer trust in crowdfunding platforms.
Urban dwellers make up the bulk of backers, with 65% of supporters living in metropolitan areas, where tech adoption is higher.
High-income earners ($100,000+ annual income) are more likely to contribute to equity and real estate crowdfunding campaigns, representing 30% of total investments in 2023.

Demographic Group	Percentage of Backers (%)
Millennials (25–40)	42
Gen Z (18–24)	20
Women	47
Men	53
Urban Dwellers	65
High-Income Earners	30

Platform-Specific Statistics

Kickstarter remains the leader in reward-based crowdfunding, with $7 billion pledged to 230,000 successfully funded projects by the end of 2023.
GoFundMe, primarily donation-based, facilitated over $15 billion in donations since its inception, with $2.5 billion raised in 2023 alone.
Indiegogo continues to diversify, with 10 million backers contributing to various campaigns, making it one of the top global platforms for both reward-based and equity crowdfunding.
Seedrs, a leading equity crowdfunding platform in Europe, raised £2 billion for startups and growing companies as of 2023.
Crowdcube saw £1.5 billion in equity funding campaigns, particularly in the UK and Europe, by the end of 2023.
Real estate crowdfunding platforms like Fundrise and CrowdStreet collectively raised over $10 billion in 2023, signaling growing interest from investors seeking diversified portfolios.
Newer platforms, such as Republic, have seen a rapid rise in user adoption, with $500 million raised across 500+ campaigns in 2023, particularly in the blockchain and fintech sectors.

Trends in Crowdfunding Campaign Types (Equity, Donation-based, Reward-based)

Equity crowdfunding continues to grow, with $6 billion raised globally in 2023, as more startups and small businesses seek alternative financing options.
Donation-based crowdfunding is expected to surpass $5 billion in market value by 2024, driven by an increase in social impact campaigns and community-led initiatives.
Reward-based crowdfunding remains the most popular form, with platforms like Kickstarter and Indiegogo accounting for over 60% of all crowdfunding campaigns.
Real estate crowdfunding is gaining traction, with $10 billion raised in 2023 alone, as more investors seek alternative investments in the property market.
Blockchain-based crowdfunding is on the rise, with an estimated growth of 40% year-over-year, as decentralized platforms become more popular among early adopters.
Social equity campaigns are gaining momentum, with a 15% increase in projects focused on diversity, equity, and inclusion in 2023.
The rise of subscription-based crowdfunding, especially on platforms like Patreon, saw creators raise over $3.5 billion in 2023 through continuous patronage.

Statistics of Crowdfunding Campaigns

In 2023, the average crowdfunding campaign raised $8,000, reflecting a 5% increase from 2022.
Tech and design projects raised the most funds, averaging $15,000 per successful campaign.
Health-related crowdfunding experienced a surge, with $3.7 billion raised globally for medical expenses and innovations in 2023.
Film and video projects continue to be popular, with Kickstarter projects alone raising over $620 million for creative projects since its inception.
Campaigns that are able to secure their first 20% of funding within the initial 48 hours have a 78% chance of reaching their goals.
Shorter campaigns (30 days or less) tend to have higher success rates, achieving their funding goals 26% more often than longer campaigns.
Repeat campaign creators (those who have run multiple crowdfunding campaigns) have a 70% higher success rate compared to first-time creators.

Metric	Value
Average Campaign Fund Raised	$8,000
Tech and Design Projects Average	$15,000
Health-Related Crowdfunding	$3.7 billion
Film/Video Projects (Kickstarter)	$620 million

Regional Insights and Geographical Growth

China dominates the crowdfunding market, contributing $8.8 billion to the global crowdfunding revenue in 2023, with the majority of projects focused on tech and real estate.
The United States ranked second globally, accounting for $5.5 billion in crowdfunding revenue, led by platforms like Kickstarter, GoFundMe, and Indiegogo.
In Europe, the UK remains the top performer, raising $1.8 billion in 2023, driven largely by equity crowdfunding platforms like Seedrs and Crowdcube.
Germany and France saw moderate growth, collectively raising $1 billion in 2023, with Germany focusing on renewable energy projects.
Australia has emerged as a fast-growing region, with crowdfunding investments rising by 15% in 2023, particularly in real estate and technology.
Latin America is seeing crowdfunding growth, with Brazil leading the region, contributing $75 million in 2023, predominantly from donation-based campaigns.
In Africa, South Africa leads with $60 million raised in 2023, with increasing interest in donation-based and social impact campaigns.

Recent Developments

The rise of blockchain-powered crowdfunding is expected to revolutionize the sector, with decentralized platforms growing 40% annually.
In 2024, equity crowdfunding regulations are expected to be relaxed in the US and Europe, making it easier for smaller investors to participate in startup funding.
Artificial intelligence (AI) is being integrated into crowdfunding platforms to predict campaign success rates, optimize funding strategies, and analyze backer behavior.
Sustainability-focused crowdfunding campaigns are growing in popularity, with 30% of all new campaigns in 2023 having an eco-friendly focus.
NFT-based crowdfunding is gaining traction, with creators offering digital assets in exchange for backer support, a trend expected to grow by 25% in 2024.
Platforms are increasingly adopting subscription-based crowdfunding models, where backers can provide recurring monthly support. This model is particularly successful for creators on platforms like Patreon, which raised $3.5 billion in 2023.
The integration of social media and crowdfunding has increased, with 80% of successful campaigns leveraging platforms like Instagram and Twitter to drive engagement.

Conclusion

The crowdfunding industry is continuing its upward trajectory, with new technologies and evolving platforms driving more growth in 2024. As alternative funding models gain more acceptance, both startups and creators are increasingly looking towards crowdfunding as a viable option. With the rise of equity crowdfunding, blockchain-based campaigns, and the expansion into new geographical markets, the future looks bright for this innovative financial model. However, success will depend on strong community engagement, clear storytelling, and leveraging new tools to optimize campaign performance. As we move forward, crowdfunding will undoubtedly continue to shape how entrepreneurs, creators, and everyday people bring their ideas to life.

References

Barry is a lover of everything technology and finance (FinTech). Figuring out how the software works and creating content to shed more light on the value it offers users is his favorite pastime. When not evaluating apps or programs, he's busy trying out new healthy recipes, doing yoga, meditating, or taking nature walks with his little one.