PUBLISHER: KBV Research | PRODUCT CODE: 1292660
PUBLISHER: KBV Research | PRODUCT CODE: 1292660
The Asia Pacific Embedded Finance Market would witness market growth of 31.1% CAGR during the forecast period (2023-2029).
Increasing numbers of fintech companies are forging new ground in the insurance industry by developing cutting-edge platforms and creating contextual insurance goods and services. As a result, the market's expansion into new market segments is accelerated. The corporate structure is becoming more digitalized, leading to a flourishing and evolving digital lending market. Companies in the fintech sector are developing and introducing new technology to improve the client experience. Through cutting-edge fintech, the Indian insurance sector has also contributed to the growth of the business.
Embedded finance, characterized by integrating financial services with non-financial products & services like mobile applications and online markets, signifies a paradigm shift in how financial services are provided. For instance, social networking sites like WhatsApp and Facebook now support digital payments and peer-to-peer money transactions.
The Asia-Pacific region is also anticipated to grow significantly, which will improve the popularity of mobile and Internet banking in the region's developing countries like Singapore, China, and India. A substantial rise in e-commerce is fueling the sector's expansion. In addition, the high degree of Internet and mobile banking adoption in the area promotes using digital banking services for retail payments.
In addition, several regional governments are launching programs to improve access to financial services. For example, the Reserve Bank of India (RBI) has promoted mobile payments, one of the main factors influencing the rise of embedded banking, by abolishing the transaction limit of $745 and allowing banks to set their limitations. Due to all these factors, the market has expanded significantly in this region.
The China market dominated the Asia Pacific Embedded Finance Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $31,505.1 Million by 2029. The Japan market is anticipated to grow at a CAGR of 30.3% during (2023 - 2029). Additionally, The India market would exhibit a CAGR of 31.9% during (2023 - 2029).
Based on End-use, the market is segmented into Retail, Travel & Entertainment, Manufacturing, Logistics, Healthcare and Others. Based on Business Model, the market is segmented into B2B, B2C, B2B2B and B2B2C. Based on Type, the market is segmented into Embedded Payment, Embedded Insurance, Embedded Investment, Embedded Lending and Embedded Banking. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Stripe, Inc., Finastra Group Holdings Limited (Vista Equity Partners), Zopa Bank Limited, Fidelity Information Services (FIS), Inc. (Payrix Solutions, LLC), Transcard Payments, LLC, Fluenccy Pty Ltd., Cybrid Technology Inc., Walnut Insurance Inc., Fortis Payment Systems, LLC, and Lendflow Inc.
Market Segments covered in the Report:
By End-use
By Business Model
By Type
By Country
Companies Profiled
Unique Offerings from KBV Research
List of Figures