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Embedded Finance Market worth $251.5 billion by 2029 – Exclusive Report by MarketsandMarkets™
CHICAGO, July 5, 2024 /PRNewswire/ — The Embedded Finance Market is expected to reach USD 251.5 billion by 2029 from USD 115.8 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “Embedded Finance Market“
250 – Tables
50 – Figures
255 – Pages
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Scope of the Report
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Report Metrics |
Details |
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Market size available for years |
2020-2029 |
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Base year considered |
2023 |
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Forecast period |
2024–2029 |
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Forecast units |
Value (USD) Billion |
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Segments Covered |
by type (embedded payments, embedded lending, embedded insurance, embedded investment/wealth management, other types), business model (B2B, B2C), industry (retail & eCommerce, healthcare, education, telecom, transportation, mobility and logistics, travel & hospitality, other industries) |
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Region covered |
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. |
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Companies covered |
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), Wise Payments Limited (UK), Goldman Sachs (UK), JPMorgan Chase & Co. (US), Alipay+ (China), Unit Finance Inc. (US), Solaris SE (Germany), Parafin, Inc. (US), Belvo (Mexico), Kasko Ltd. (UK), Tint Technologies Inc. (US), Mezu, Inc. (US), Fortis Payment Systems (US), Additiv AG (Switzerland), Galileo Financial Technologies, LLC (US), Trevipay (US). |
The embedded finance market is experiencing a massive disruption because of the development of technologies such as API, AI, blockchain, etc. This capability allows companies to incorporate financial services into their platforms, delivering consistent and unique solutions. Furthermore, demand for new complex, value-added, readily available services that can be offered in real-time has pressured firms in almost all industries to embrace embedded finance. This shift helps non-financial firms to provide banking, lending, insurance, and payment services, which fortifies customer relations and generates more revenues. This market is divided into segments based on different aspects, such as the type, business model, and industry. Type includes solutions such as embedded payments, embedded lending, embedded insurance, embedded investment/wealth management, and others such as issuance and deposits. The business model includes both B2B and B2C. The industry segment focuses on retail & eCommerce, healthcare, education, telecom, transportation, mobility and logistics, travel & hospitality, and other industries, namely real estate, energy, media & entertainment, and agriculture. These segments collectively offer a comprehensive overview of the evolving embedded finance landscape and its potential business implications.
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Based on industry, retail & eCommerce sector to hold the largest market size during the forecast period.
The research identified several drivers that would make the retail and e-commerce sector the most significant market for embedded finance throughout the forecast period, including the steady growth in online purchasing coupled with the rising number of digital consumers requires effective financial services integrated into the e-commerce platforms; BNPL products increase consumers’ purchasing capacity, leading to increased spending. Personalization capabilities enable retailers to offer customized financial products to their customers, enhancing satisfaction and loyalty. Secure payment gateways and other algorithms in fintech underline smooth transaction processes, leading to higher consumer confidence. An omnichannel approach that integrates both online and offline experiences has financial services that help improve the shopping experience. Growing cooperation between fintech and retailers helps to achieve significant integration and compliance with the requirements to introduce new services. At the same time, the growth of mobile commerce enhances the demand for integrated mobile payments. Collectively, these factors explain the large market size of the retail and e-commerce segment in the embedded finance market during the forecast period.
Based on the business model, the B2C model is expected to hold a higher growth rate during the forecast period.
The B2C model for embedded finance is expected to experience tremendous growth primarily because of the rising customer expectations for integrated and omnichannel financial solutions. The development of digital channels and e-commerce fuels the need for broader implementation. Innovation experiences in fintech, APIs, and AI, for instance, have helped ease integration, lowering entry barriers. Moreover, the strategic B2C model increases customer loyalty and customer retention since it provides them with individualized financial services, thus building lasting partnerships. It also widens the market since consumers who used to be locked out from accessing financial facilities due to various factors can access business ventures. Favorable economic and demographic indicators, such as improved disposable income, especially in emerging markets, as well as enhanced access to the Internet, have also boosted the demand for integrated financial services. These factors have made it evident that the B2C embedded finance model will likely realize faster growth during the forecast period under consideration.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
The Asia Pacific region will have the highest growth rate in the Embedded Finance Market for the next forecast period because of several factors. The constantly expanding digitally linked economy due to the rise in Internet connection and smartphone use makes it easier to incorporate financial services into consumer apps. The growth of e-commerce and a continuously increasing volume of online purchases, the development of the middle class and a gradual increase in the available amount of money encourage the desire to have non-cash payment solutions such as digital wallets and BNPL. State programs aimed at developing digital financial services make a helping condition, and significant investments in fintech start-ups and technological development fuel the market’s growth. A large population of the countries in this region presents a substantial demand for financial services. The tech firms collaborate with different institutions and businesses to ensure that financial services are integrated into a universal platform. All these factors combined make it possible to affirm that the Asia Pacific region will maintain a favorable, capturing growth rate in the forecast period.
Top Companies in Embedded Finance Market:
The major vendors covered in the Embedded Finance Market are 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), Wise Payments Limited (UK), Goldman Sachs (UK), JPMorgan Chase & Co. (US), Alipay+ (China), Unit Finance Inc. (US), Solaris SE (Germany), Parafin, Inc. (US), Belvo (Mexico), Kasko Ltd. (UK), Tint Technologies Inc. (US), Mezu, Inc. (US), Fortis Payment Systems (US), Additiv AG (Switzerland), Galileo Financial Technologies, LLC (US), Trevipay (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Embedded Finance Market.
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Switzerland has achieved an impressive milestone by ranking second in the 2024 European Fintech Index. This ranking reflects the country’s robust fintech ecosystem, innovative financial services, and supportive regulatory environment. Switzerland’s position in the index underscores its status as a leading hub for fintech innovation in Europe.
Factors Contributing to Switzerland’s High Ranking
Several factors have contributed to Switzerland’s strong performance in the 2024 European Fintech Index:
- Regulatory Support: Switzerland has a well-developed regulatory framework that supports fintech innovation while ensuring consumer protection. The Swiss Financial Market Supervisory Authority (FINMA) plays a key role in fostering a conducive environment for fintech companies.
- Financial Expertise: Switzerland’s long-standing reputation as a global financial center provides a solid foundation for fintech development. The country’s expertise in banking, wealth management, and insurance has facilitated the growth of innovative financial services.
- Access to Capital: Switzerland offers excellent access to capital for fintech startups. A strong network of venture capital firms, angel investors, and financial institutions provides the necessary funding to support fintech innovation and growth.
- Talent Pool: The country boasts a highly skilled workforce with expertise in finance, technology, and regulatory compliance. Switzerland’s universities and research institutions also contribute to the development of fintech talent through specialized programs and research initiatives.
- Collaborative Ecosystem: Switzerland’s fintech ecosystem is characterized by strong collaboration between startups, financial institutions, regulators, and academic institutions. This collaborative approach fosters innovation and accelerates the development of new financial technologies.
Key Areas of Fintech Innovation in Switzerland
Switzerland’s fintech sector is diverse, with innovation occurring across various domains:
- Blockchain and Cryptocurrency: Switzerland is a global leader in blockchain and cryptocurrency innovation. The country’s Crypto Valley, centered in Zug, is home to numerous blockchain startups and initiatives.
- WealthTech: Leveraging its expertise in wealth management, Switzerland has seen significant advancements in WealthTech solutions, including robo-advisors, digital asset management, and personalized financial planning tools.
- RegTech: Regulatory technology (RegTech) is another area of strength for Switzerland. Fintech companies are developing advanced solutions to help financial institutions comply with complex regulatory requirements more efficiently.
- InsurTech: Innovation in the insurance sector is driven by InsurTech startups, which are developing new products and services to enhance customer experience and streamline insurance processes.
Impact on Switzerland’s Economy
Switzerland’s strong performance in the European Fintech Index has several positive implications for its economy:
- Job Creation: The growth of the fintech sector has created numerous high-skilled job opportunities, contributing to economic development and reducing unemployment.
- Foreign Investment: Switzerland’s reputation as a fintech hub attracts foreign investment, further boosting the country’s economic growth and innovation capabilities.
- Global Competitiveness: The country’s leadership in fintech innovation enhances its global competitiveness, positioning Switzerland as a key player in the international financial landscape.
Future Outlook
Switzerland’s fintech sector is poised for continued growth and innovation. Ongoing regulatory support, access to capital, and a collaborative ecosystem will drive the development of new financial technologies and services. As Switzerland continues to build on its strengths, it is well-positioned to maintain its leadership in the European and global fintech landscape.
In conclusion, Switzerland’s second-place ranking in the 2024 European Fintech Index reflects its robust fintech ecosystem and innovative financial services. With strong regulatory support, access to capital, and a highly skilled talent pool, Switzerland is a leading hub for fintech innovation in Europe.
Source of the news: Fintech News
The post Switzerland Ranks 2nd in 2024 European Fintech Index appeared first on HIPTHER Alerts.
Latest News
Wagner Forest Management Ltd. Considers Strategic Alternatives for 480,000-Acre Carbon-Forward Property
LYME, N.H., July 8, 2024 /PRNewswire/ — Wagner Forest Management, Ltd., a prominent manager of timberland investments, announced today that it is considering strategic alternatives, including the potential sale of 480,000 acres of timberlands in Ontario, Canada.
This property offers a unique opportunity for an investor to develop one of the largest nature-based carbon removal projects in the Voluntary Carbon Market. The project is anticipated to generate millions of emission reduction and removal credits, significantly contributing to climate change mitigation through sustainable forestry and land use practices.
The company has retained TAP Securities as its financial advisor. TAP is preparing marketing materials describing the property and the carbon opportunity. Interested parties should contact:
Rabih Hasbini
[email protected]
(212) 909-9014
505 Park Ave, 9th Floor, New York, NY 10022
About Wagner Forest Management Ltd.:
Wagner Forest Management, Ltd. is a privately owned Timberland Investment Management Company providing forestry consulting and land management services, focusing on sustainable production of renewable forest products, vital ecological services, and recreational opportunities. Headquartered in Lyme, New Hampshire, Wagner Forest Management manages over 2.25mm acres of timberland throughout Northeastern United States and Eastern Canada
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DAMAC Group Announces Increased Investment in Artificial Intelligence Sector with Notable Investments in Anthropic, xAI and Mistral
Through strategic investments, DAMAC is dedicated to fostering innovation and driving the next wave of technological advancements
DUBAI, UAE, July 8, 2024 /PRNewswire/ — DAMAC Group, a leading conglomerate known for its diverse investment portfolio, has announced a significant increase in its investment in the rapidly evolving Artificial Intelligence (AI) sector.
DAMAC Group announced notable investments in leading AI companies including a $50 million in the AI startup, Anthropic – as one of the top investors who have bought into the company from the cryptocurrency exchange, FTX. The Group has also made investments in xAI – an American AI startup founded by Elon Musk and in Mistral – a France-based AI company which is one of the best European large-language model open source. This strategic move aligns with the Group’s vision to support and develop cutting-edge AI technologies and infrastructure.
The DAMAC Group’s diversified family office has already invested in over 70 funds across various strategies, demonstrating its commitment to fostering innovation and growth across multiple industries. With this new focus on AI, the Group aims to further enhance its role in advancing foundational AI models and infrastructure.
“As a forward-thinking organisation, we recognise the transformative potential of AI in shaping the future,” said Hussain Sajwani, Founder of DAMAC Group. “Our increased investment in AI reflects our commitment to supporting the development of groundbreaking technologies that can drive significant progress and create new opportunities across various sectors.”
“We are excited to be part of the AI revolution and to contribute to the growth of this dynamic industry,” added Sajwani. “Our investments in companies like Mistral, Anthropic, and xAI underscore our dedication to fostering innovation and driving the next wave of technological advancements.”
A study by PwC underscores the immense potential of AI to transform the productivity and GDP potential of the global economy. AI could contribute up to $15.7 trillion to the global economy by 2030. Initial GDP gains will be driven by improvements in labour productivity as firms augment their workforce with AI technologies and automate certain tasks and roles. By 2030, 45% of total economic gains will come from product enhancements, stimulating consumer demand through greater product variety, increased personalisation, and enhanced affordability.
The greatest economic gains from AI will be seen in China, with a 26% boost to GDP, and in North America, with a 14.5% boost. Together, these regions will account for almost 70% of the global economic impact, equivalent to a total of $10.7 trillion.
DAMAC Group’s increased focus on AI and technological infrastructure is expected to bolster its existing portfolio and pave the way for new strategic partnerships and collaborations. The Group aims to leverage advanced technologies to create value and drive sustainable growth.
ABOUT DAMAC GROUP
The DAMAC Group is the multi-billion-dollar business conglomerate of UAE based Hussain Sajwani. The Group’s investments are divided into seven core areas; real estate, capital markets, hotels & resorts, manufacturing, catering, high-end fashion and data centres.
Some of the Group’s most notable activities include DAMAC Properties, one of the region’s largest property developers, the acquisition of the Italian fashion house, Roberto Cavalli and luxury Swiss jewellery brand de GRISOGONO, the 50-storey development DAMAC Towers Nine Elms in London and a luxury resort in the Maldives.
In a bid to disrupt the global data centre landscape, the Group recently announced plans to build data centres through its digital infrastructure company, EDGNEX Data Centres by DAMAC, across different global locations.
Today, the Group’s global footprint extends across North America, Europe, Asia, Middle East and Africa. With its vision firmly set on growth and expansion, the Group continues in its quest for diversification and business excellence.
For more information, please contact:
Visit us at www.damacgroup.com
Email: [email protected]
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