Global Embedded Finance Market projected to grow to $1160 billion by 2033, driven by embedded payments.

From GlobeNewswire: 2024-08-14 01:00:00

The Global Embedded Finance Market is projected to grow from $81.4 billion in 2023 to $1160 billion by 2033, at a CAGR of 30.43%. Embedded finance integrates financial services with non-financial products, offering opportunities for businesses to offer credit, digital wallets, and more. North America leads the market, with Asia Pacific showing rapid growth due to high smartphone and internet users. Major players include Zopa Bank, Plaid, Stripe, and PayPal.

Embedded payments are expected to dominate the global embedded finance market. B2C segment is projected to grow rapidly, offering financial services directly to consumers. Retail sector holds the largest share, attracting customers with credit solutions and rewards. Asia Pacific is predicted to see the fastest growth due to the increasing number of smartphone and internet users, especially in countries like India and China.

Major vendors in the embedded finance market include Zopa Bank, Cross River Bank, and Finastra. Recent developments include Fortis boosting its embedded payment solutions with the acquisition of NetSuite payments division. The market is segmented based on finance type, business model, end-use, and region, showcasing robust growth potential across various sectors like retail, healthcare, and logistics.

Overall, the Global Embedded Finance Market is on track to witness significant growth driven by increasing opportunities in embedded payments, insurance, investment, lending, and banking. Enhanced customer engagement, convenience, and security measures are key factors shaping the market landscape. With North America leading and Asia Pacific growing rapidly, key players like Zopa Bank and Plaid are poised for continued success.



Read more at GlobeNewswire: Global Embedded Finance Market Size To Worth USD 1160