Driving Financial Innovation: Unraveling the Embedded Finance Market Landscape

Embedded Finance Market

Over the course of the projected period, the embedded finance market is anticipated to expand at a high CAGR of 16.5%. According to projections, the market would produce US$ 63.2 billion in sales in 2023 and reach a value of US$ 291.3 billion by 2033.

Embedded financial services, which involve integrating banking software directly into online storefronts of merchants or any other sort of business, have emerged on the global market. Numerous online merchants offering various goods and services, or e-commerce platforms, are putting this idea into practise for the benefit of their customers.

Application technology development or API solutions have taken the role of earlier, more time-consuming, and expensive online purchases.

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The number of internet connections and traffic to e-commerce websites have increased as a result of bettering economic conditions and rising levels of digital literacy among the general populace, particularly in developing nations. In the upcoming years, it is projected that this increase in demand for online transactions would indirectly fuel the worldwide embedded finance business.

The embedded finance market projection is anticipated to be significantly impacted by developments in banking technology such as unified payment systems (UPI) and mobile payment apps. Additionally, it is projected that the security risks and data privacy concerns would continue to slow the worldwide market’s expansion for a few more years.

Key Takeaways

  • The global embedded finance market size is estimated to be not worth US$ 54.3 Bn in 2022 and can witness a growth of US$ 194.1 Bn in absolute dollars until the end of this forecast time period.
  • Among the different types of services provided by the global embedded finance market, the embedded banking services sector is poised to be the highest-growing segment, with an estimated CAGR of 16.2% during the forecast timeframe.
  • Investment banks and investment companies are the top revenue-generating segments for the embedded finance fintech. This segment is predicted to witness a robust CAGR of 16.2% over the forecast years.
  • North America is the dominating region for embedded financial services, with the USA contributing more than 35% of the total revenue generated. The total net worth of the USA embedded finance market is predicted to be valued at about US$ 89 Bn in the year 2032.
  • The Asia Pacific follows North America in terms of growth rate in embedded financial services that have some emerging economies contributing significantly to the global market. China is the top-performing country with an overall valuation of US$ 17 Bn by the end of 2032.

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Competitive Landscape

The major players operating in the global embedded finance market include Bankable, Banxware, Cross River, Finix, Flywire, Marqeta, RailsBank, Openpayd, Plaid, and Q2.

Almost all financial institutions have started providing embedded services along with dedicated embedded finance fintech companies that have made the global embedded financial market highly competitive than ever before.

Some of the major strategies adopted by the top players in the market include the provision of innovative services such as embedded lending at the point of sale (PoS) for attracting retail customers.

In recent years inclusion of embedded insurance premiums has created great opportunities for the market growth of embedded finance service providers. The estimated value of insurance premiums contributed to the market through embedded financial services was around US$ 3.8 Bn in the year 2021. Integration of such new services is expected to boost the global embedded finance market.

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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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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