Embedded Finance Market Size Worth $379 Billion By 2030: IndustryARC

 Global Embedded Finance Market size is predicted to reach $379 billion by 2030, growing at a CAGR of 25.7% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. The rising demand of mobile commerce and the rise of Fintech and increasing adoption of smartphones are poised to propel the market growth, finds IndustryARC in its recent report, titled “Embedded Finance Market Size, Share & Trends Analysis Report By Type (Embedded Insurance, Embedded Payment, Embedded Lending, Embedded Investment, Embedded Banking), By Business Model (B2B, B2C, B2B2B, B2B2C, Others), By Industry Vertical (Retail and E-commerce, Education, Telecommunications, Consumer Health, Others), By Region and Segment Forecasts, 2023–2030”

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Asia-Pacific to Register Highest Growth:

The Embedded Finance industry in this region is expanding due to the increasing adoption of digital financial services, rising investments in Fintech and the growing trend of digital transformation across various industries such as retail, healthcare and transportation. Additionally, rapidly growing economies have a large population base and a high level of mobile and internet penetration are the major factors propelling the market growth in this region. In 2023, as per Times of India, India surpassed the global average in FinTech adoption with a rate of 87%, significantly higher than the global average of 64%.

 Embedded Finance Market 2023-2030: Scope of the Report

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Embedded Finance Market Report – Key Takeaways:

Dominance of Embedded Payments

The Embedded Payments segment had the largest market valuation of $45 billion in 2022. The growth is attributed to the increasing adoption of embedded finance solutions across various industries, including e-commerce, Fintech, healthcare, and more. The growing demand for seamless and secure payment experiences, coupled with advancements in technology, such as APIs, blockchain, and tokenization is driving the expansion of the Embedded Payments market. As per a Forbes report, the embedded payments industry is experiencing robust growth, with projected revenues set to surge from $43 billion in 2021 to a staggering $138 billion by 2026.

Retail and E-commerce to Register Highest Growth

Retail and E-commerce is analyzed to grow with the highest CAGR of 26.4% during the forecast period owing to the growing need for hassle-free and easy payment methods for online transactions. The rise of e-commerce has led to a surge in businesses integrating payment solutions directly into their platforms, which has resulted in a more efficient and simplified customer experience. This has given rise to the adoption of embedded payments and other embedded finance solutions in the e-commerce sector and making it a significant contributor to the growth of the embedded finance market.

North America is Leading the Market

North America region held a major market share of 38% in 2022. The strong presence in this region can be attributed to the advanced Fintech infrastructure, high digital adoption rate, and increasing demand for embedded finance services. In addition, the presence of leading Fintech companies and financial institutions in North America has further accelerated the adoption of embedded finance solutions. According to a report from Bain & Company, the integration of financial services into e-commerce and other software platforms accounted for $2.6 trillion and projected to surpass $7 trillion by 2026.

Burgeoning Opportunities in Financial Services

Increased access to financial services is creating opportunities in embedded finance services are going to create growth opportunities for the market during the forecast period. The growth of digital technologies and the increasing adoption of mobile devices have created higher access to financial services. This has created opportunities for Fintech companies to develop embedded finance solutions that leverage digital platforms to offer more accessible and efficient financial services.

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Key Opportunity Analysis:

Emergence of Cashless Transactions

Embedded finance solutions such as digital wallets and payment gateways, enable fast, secure and convenient cashless transactions providing a more seamless payment experience for consumers and businesses alike. These solutions are also increasingly being integrated into non-financial products and services, such as e-commerce platforms and mobile apps are fueling the embedded finance industry.

According to a PwC Strategy report, the global cashless payment volumes are projected to surge by over 80% which is nearly 1.9 trillion transactions by 2025.

High Demand for Buy Now Pay Later Services

Buy Now Pay Later (BNPL) services are becoming integral to embedded finance, benefiting both businesses and consumers. By enabling deferred payments, consumers can conveniently manage their finances while enhancing their purchasing power. BNPL reduces friction in e-commerce, improving the customer experience. The integration of BNPL benefits businesses with increased order values, conversion rates and new customer acquisition. Fintech firms have the opportunity to develop innovative BNPL solutions to cater to the growing demand from millennials and Gen Z.  Partnerships with merchants offer additional revenue streams, making BNPL an attractive and essential component in the embedded finance ecosystem. In 2023, According to a Unnax report, the BNPL payments in the UK is projected to experience an annual growth rate of 35%, resulting in a value of $42 billion by 2050.

The Integration of Latest Technologies

Integrating embedded finance solutions with the latest technologies like AI, machine learning, and IoT offers several benefits to embedded finance solutions including enhanced security, greater efficiency and more personalized services. Additionally, AI and machine learning is used to enhance security and prevent fraud in embedded finance solutions. These technologies can identify potential fraud and security risks, allowing embedded finance providers to take proactive measures to protect user accounts and data.

In 2022, As per a Cios EA report, the integration of AI and IoT is expected to fuel up to 27% of new AI systems integration by 2027.

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The Report also Covers the Following Areas:

• Embedded Finance Market Size and Forecast
• Embedded Finance Market Trends
• Embedded Finance Market Analysis by Type

Embedded Finance Market 2023-2030: Key Highlights

• CAGR of the market during the forecast period 2023-2030
• Value Chain analysis of key stake holders
• Detailed analysis of market drivers and opportunities during the forecast period
• Embedded Finance Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Embedded Finance Market

Covid and Ukrainian Crisis Impact:

• The Covid-19 pandemic accelerated the adoption of contactless payments, as consumers were more concerned about the risk of virus transmission from handling cash or touching point-of-sale devices. However, the pandemic disrupted supply chains and caused delays in the delivery of goods and services, impacting the embedded finance market by reducing demand for financial services related to trade finance and supply chain finance.
• The Russia-Ukraine war highlighted the importance of cross-border payments in the face of unstable political situations. This created opportunities for embedded finance providers that offered cross-border payment solutions, including international money transfers and foreign exchange services.

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List of Key Market Players in Embedded Finance Market:

The Global Embedded Finance Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

• Bnkbl Ltd
• Banxware GmbH
• Flywire Corporation.
• Finix Payments, Inc.
• Cross River Bank
• Plaid Inc.
• Akulaku Inc.
• 10x Banking Technology Services Ltd.
• TrueLayer Ltd.
• ClearBank Ltd
• Starling Bank
• bolttech Inc
• Modulr Finance Limited.
• One Sigma Technologies Private Ltd.

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