Between 2022 and 2032, the embedded finance industry is anticipated to expand its dominance of the worldwide market at a robust CAGR of 16.4%. The market is expected to grow from its current value of $54.3 billion in 2022 to $248.4 billion by 2032. Prior to this, the market grew at a faster CAGR of 26.9% (2016–2021), reaching a value of US$ 43 Bn in that year.
Growing fintech companies are forging deeper roots in the insurance industry and strengthening cutting-edge platforms to provide contextual insurance products and services. As a result, the embedded finance sector is growing more quickly in new market areas.
The corporate landscape is becoming more and more digitalized, and this has a positive impact on the digital lending industry.
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What Are The Key Drivers And Restraints For Growth Of The Embedded Finance Market?
“Concepts like UPIs, consumer lending, SME lending, and insurance are helping the embedded finance market grow and are expected to push the market upward in the forecast period, digitizing multiple sectors from finance to retail.”
The major factors driving the growth of the embedded finance market are growing digitization in multiple spaces, acceptance of UPI payments, and increased consumer and SME lending.
Embedded finance can be known as financial services that are not integrated with the banks.
The use of these services has increased lately due to the transformation of each sector and the fourth industrial revolution, also known as industries 4.0. Covid-19 has also pushed the cashless economy and increased the consumption of embedded finance.
SME lending is another growing sector, accelerating the growth of the embedded finance market worldwide. Small and medium-sized enterprises seek financial aid to expand their distribution channels and supply chains; especially the covid-19 has impacted these SMEs adversely.
How Is The Competition In The Embedded Finance Market?
The competitive landscape of embedded finance is diversified and makes the market more exclusive for new players. Companies also collaborate and merge with other companies, which enhances operability. The vendors focus on expanding their supply chain and distribution channels.
Recent Developments in the Embedded finance Market
- Bankable
- Banxware
- Cross River
- Finix
- Flywire
Key Players
- Bankable has introduced its series of virtual ledger managers, payment card programms, digital banking and e-wallet. This pushes the sales of embedded finance services.
- Crossriver has launched its multiple embedded finance services like payment, lending, banking, traditional banking and compliance. These fuel the sales of embedded finance services.
- Flywire has upgraded its set of services covering multiple industries like education, healthcare, travel and B2B, fueling the sales of embedded finance solutions.
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What Are The Key Drivers And Restraints For Growth Of The Embedded Finance Market?
“Concepts like UPIs, consumer lending, SME lending, and insurance are helping the embedded finance market grow and are expected to push the market upward in the forecast period, digitizing multiple sectors from finance to retail.”
The major factors driving the growth of the embedded finance market are growing digitization in multiple spaces, acceptance of UPI payments, and increased consumer and SME lending.
Embedded finance can be known as financial services that are not integrated with the banks.
The use of these services has increased lately due to the transformation of each sector and the fourth industrial revolution, also known as industries 4.0. Covid-19 has also pushed the cashless economy and increased the consumption of embedded finance.
SME lending is another growing sector, accelerating the growth of the embedded finance market worldwide. Small and medium-sized enterprises seek financial aid to expand their distribution channels and supply chains; especially the covid-19 has impacted these SMEs adversely.
Key Segments
By Type:
- Embedded Banking
- Embedded Insurance
- Embedded Investments
- Embedded Lending
- Embedded Payment
By End User:
- Loans Associations
- Investment Banks & Investment Companies
- Brokerage Firms
- Insurance Companies
- Mortgage Companies
By Region:
- United States
- Canada
- Austria
- Germany
- France
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Fact.MR Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Embedded Finance Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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