Embedded finance, simply put, is when a non-financial company offers financial products and services through APIs and platforms. In addition, embedded finance allows companies to access and utilize financial services provided by third parties. Furthermore, the market has presented a number of opportunities for both established financial institutions and innovative fintech startups to collaborate and expand their customer reach in new and innovative ways.
Allied Market Research published a report, titled, “Embedded Finance Market by Type (Embedded Payment, Embedded Lending, Embedded Investment, and Embedded Insurance), and Industry Vertical (Retail and E-Commerce, Transportation & Logistics, Healthcare, Media & Entertainment, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032.” According to the report, the global embedded finance market was valued at $66.8 billion in 2022, and is projected to reach $622.9 billion by 2032, growing at a CAGR of 25.4% from 2023 to 2032.
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Prime Determinants of Growth
The embedded finances market is driven by the rising trend of digital transformation in several sectors and the evolving demands of customers in the digital world to embrace embedded finance as a means to enhance their products and services. However, regulatory challenges indeed act as a significant restraint for the embedded finance market. On the contrary, with the integration of financial services into non-financial platforms, such as e-commerce websites, ride-sharing apps, and social media platforms, embedded finance has the potential to reach a much larger audience than traditional financial institutions alone.
COVID-19 Scenario
- The COVID-19 pandemic had a positive impact on the embedded finance market. With the widespread adoption of remote work, online shopping, and digital services, the need for seamless financial transactions became more pronounced.
- The pandemic accelerated the shift towards digital channels, and embedded finance emerged as a key solution to meet the growing demand for convenient financial services. The integration of financial services into non-financial platforms became even more crucial as businesses sought to offer comprehensive solutions to their customers.
- From contactless payments to digital lending and insurance, embedded finance provided a way for businesses to adapt to the changing landscape and enhance customer experience. As a result, the embedded finance market experienced rapid growth during the pandemic, and its importance and potential for further expansion became increasingly evident.
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The embedded payment segment to maintain its leadership status throughout the forecast period
Based on type, the embedded payment segment held the highest market share in 2022, accounting for around two-fifths of the global embedded finance market revenue. This can be attributed to the widespread adoption of payment service across various demographics and regions. However, the embedded lending segment is projected to manifest the highest CAGR of 28.7% from 2023 to 2032, this is attribute to the fact that it enables businesses to provide rapid and personalized lending options right within their platforms, satisfying the increased demand for quick access to finance and improving the overall customer experience.
The retail and e-commerce segment to maintain its leadership status throughout the forecast period
Based on industry vertical, the retail and e-commerce segment held the highest market share in 2022, accounting for nearly two-fifths of the global embedded finance market revenue. This is attributed to the increasing demand for integrated payment solutions, personalized financing options, and streamlined customer experiences within these sectors. However, the media and entertainment segment is projected to manifest the highest CAGR of 29.7% from 2023 to 2032. This is owing to the integration of microtransactions and digital currencies into media platforms has the potential to revolutionize content monetization models.
North America to maintain its dominance in 2022
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global embedded finance market revenue. This is because regulatory bodies in North America are actively considering policies and regulations to foster innovation and competition in the embedded finance space. However, the Asia-Pacific region is expected to witness the fastest CAGR of 28.7% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the fact that Asia-Pacific region witnessing significant digital transformation across various sectors, including finance.
Leading Market Players: –
- Block, Inc.
- Cybrid Technology Inc
- Fortis Payment Systems, LLC (“Fortis”)
- Finastra International Limited
- FinBox
- Lendflow
- PAYRIX
- PayPal Holdings, Inc
- Stripe
The report provides a detailed analysis of these key players of the global embedded finance market. These players have adopted different strategies such as expansion and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the embedded finance market forecast from 2023 to 2032 to identify the prevailing embedded finance market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the embedded finance market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global embedded finance market trends, key players, market segments, application areas, and market growth strategies.
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