Chicago, July 18, 2024 (GLOBE NEWSWIRE) -- The Embedded Finance Market is estimated at USD 115.8 billion in 2024 to USD 251.5 billion by 2029, at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period, according to a new report by MarketsandMarkets™. The market for embedded finance is fueled by the requirement to deliver financial services through platforms beyond traditional financial ones. They have made customers stick to their accounts and keep transacting with them by offering accessible and readily available financial solutions combined with the user’s everyday activities. It is evident that by deploying embedded finance, operational efficiency and effectiveness are improved, additional revenues will be generated, and customer loyalty will be fostered and deepened. It is further driven by the progress in the fin-tech industry, a higher level of digital penetration, and the need for better and refined solutions fully integrated into clients’ lives.
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Embedded Finance Market Dynamics:
Drivers:
- Digitization of Financial Services
- Instant Financial Operations
- Consumer Accessibility
Restraints:
- Data privacy concerns
- Data Protection Policies
- Regulatory Compliance
Opportunities:
- Financial Inclusion
- Empowering Businesses
List of Key Players in Embedded Finance Market:
- Stripe, Inc. (US)
- PayPal Holdings, Inc. (US)
- Amazon.com, Inc. (US)
- Plaid, Inc. (US)
- Klarna Bank AB (Sweden)
- FIS (US)
- Visa Inc. (US)
- Cross River Bank (US)
- Zeta Services Inc. (US)
- Marqeta, Inc. (US)
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By business model, the B2B model is expected to have the largest market size during the forecast period.
The B2B segment will dominate the embedded finance industry by 2029 owing to efficient and fast financial processes and customer experiences, which help to lower the cost of intermediaries and automate processes. Implementing these financial services enables efficient operations of an enterprise and the provision of information to allow for the analysis for efficiency in financial undertakings. The need for digital services in the B2B segment during and after the pandemic, combined with increased regulation, is fueling the process of embedding finance. Innovation and establishing integrated partnerships promote a suitable environment for developing embedded financial frameworks to ensure sustainable and adaptable financial support that will grow in parallel with the business. It has become evident that companies are using these solutions to create a competitive advantage over rivals, besides offering distinct products and enhancing profitability, boosting the B2B model for market growth.
By industry, the healthcare sector is expected to hold a higher growth rate during the forecast period.
The healthcare sector will likely report a higher growth rate within the Embedded Finance Market up to 2029 due to the more significant usage of digital health solutions, including telemedicine and distant patient monitoring incorporating payments and insurance. The need for and accessibility to essential and affordable healthcare services is being addressed by flex-pay and micro-insurance solutions, and the transition to value-based care delivery is supported by healthcare financial products that reward patient outcomes and promote value-based efficiency. Most current health tech startups are using embedded finance to change the ways of performing financial transactions in healthcare. Significant investment into increasing the healthcare infrastructure is opting to use embedded finance for operations such as establishing infrastructure, including facilities and other medical devices. Moreover, supportive regulatory frameworks support integrated billing and financing for patients, which further stimulates growth and presents a solid framework to support embedded finance solutions in the healthcare industry.
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Based on region, North America is expected to hold the most significant size share during the forecast period.
North America is expected to account for the largest market size of embedded finance during the forecast period, owing to some of its unique attributes. Leading in technology and innovation coupled with well-developed financial systems are vital factors that realize the scale of growth and impact of embedded finance solutions. Also, the favorable legal climate regarding consumer protection, elaborated reliable investments, and funding sources for fintech startups contribute to the further enhancement and growth of the concept of embedded finance. The industry-specific and geographic-specific market requirements, such as retail and e-commerce mobility, healthcare, and automotive, bring a wide range of integration points for financial services, making North America the largest market for Embedded Finance.
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