Is philanthropic crowdfunding a growing industry?

Crowdfunding markets have experienced a severe growth in recent years; however, this was mostly among non-philanthropic platforms. Philanthropic crowdfunding builds on a large group of individuals each donating a small amount online. Worldwide, philanthropic crowdfunding fulfills a small role, since only 15% of the total amount raised through crowdfunding is raised through philanthropic crowdfunding. The global crowdfunding activity mostly exists out of platforms from the United States, Asia and Europe. The US has the largest percentage of philanthropic crowdfunding projects. China focusses mostly on reward-based crowdfunding. In Europe the largest crowdfunding markets are the UK, France, Germany, and the Netherlands. Crowdfunding is not yet a growing industry in every region, with decreasing market-values among European-based platforms.