The embedded banking market revenue is estimated to be totaled US$ 20,339.6 million in 2024. The market is expected to reach US$ 149,426.9 million by 2034, registering a CAGR of 22.10% over the forecast period.
Attributes | Key Statistics |
---|---|
Expected Base Year Value (2024) | US$ 20,339.6 million |
Anticipated Forecast Value (2034) | US$ 149,426.9 million |
Estimated Growth (2024 to 2034) | 22.10% CAGR |
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Embedded banking services, also known as ‘embedded financing’ or ‘banking as a service’, have been gaining widespread impetus since past few years. The market developed at a 19.90% CAGR between 2019 and 2023. Several reasons are attributed to this rapid growth:
The embedded banking market has witnessed several notable trends that are shaping its trajectory:
Despite the growing popularity of embedded banking services in the international marketplace, several factors are hindering the market growth:
On the basis of solutions, the embedded banking market is segmented into embedded banking platform API and services. The banking platform API segment is anticipated to hold a share of 66.40% of the overall embedded banking market in 2024.
Attributes | Details |
---|---|
Solutions | banking Platform API |
Market Share in 2024 | 66.40% |
On the basis of organization size, the large organization segment takes the majority share of the embedded banking market. It is anticipated to hold a market value of 57.30% in 2024.
Attributes | Details |
---|---|
Organization Type | Large Organizations |
Market Share in 2024 | 57.30% |
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This section offers a comprehensive analysis of the embedded banking market across various countries, including Australia, China, the United States, Germany, and Japan. The table presents the CAGR for each country, depicting the estimated market growth in these regions until 2034.
Countries | Forecasted CAGR from 2024 to 2034 |
---|---|
Australia | 25.60% |
China | 22.60% |
United States | 18.90% |
Germany | 17.50% |
Japan | 16.80% |
Australia is expected to exhibit significant market growth over the forecast period. The Australia embedded banking market is anticipated to develop at a CAGR of 25.60% through 2034.
Australia is blessed with a financial system that is very well-established and highly digitized. This allows companies offering embedded financing solutions to easily integrate their services into the existing financial system.
Besides this, the country’s highly competitive banking sector is also pushing companies in this market to offer innovative financial services through APIs. These factors have positioned Australia as one of the lucrative markets for embedded banking solutions.
China is also one of the lucrative markets in the embedded banking industry. The Chinese market for embedded banking is anticipated to progress at a CAGR of 22.60%.
The Chinese government, in the last few years, has been actively taking initiatives to bring their people into the country’s financial system. Due to this, the country now has a well-developed digital ecosystem with a substantial amount of internet companies expanding into embedded financial services. The embedded banking market is also touching the skies in China as many people make use of these platforms for their financial operations.
The United States also is a promising embedded banking industry. Over the next ten years, the demand for embedded banking in the United States is projected to rise at an 18.90% CAGR.
The United States is a global hub for the embedded banking industry with the presence of numerous industry giants such as Plaid, Stripe, Square, Adyen, Marqeta, Galileo Financial Technologies, Synapse, etc. These companies have a strong foothold in the domestic as well as international marketplace, bringing in an appreciable amount of expertise and revenue to the United States embedded banking market.
Germany is also one of the lucrative markets in the embedded banking industry. The Germany embedded banking market is anticipated to inflate at a CAGR of 17.50%.
Open banking systems have played a significant role in the growth of the embedded banking industry in Germany. With such a system, financial institutions in Germany find it relatively easier to collaborate with third-party providers. This has allowed them to offer innovative offers to their consumers, which is exponentially expanding the embedded banking solution market in the country.
Japan also exhibits a promising future in the global embedded banking industry. The market in Japan is anticipated to retain its position by progressing at a growth rate of 16.80% till 2034.
Japan, as a country, is very tech-savvy when it comes to their financial capabilities. This has made the adoption of these complex embedded financial systems very easy for businesses as well as individual owners. Besides this, the country’s lenient banking regulations have also enabled the entry of numerous companies into Japan’s market, which has substantially spurred its growth in the past few years.
The embedded banking market consists of numerous companies that cater to businesses in a wide array of industries and sectors, as well as individual consumers in developed and developing economies.
Companies invest a hefty amount of their financial capital in smoothening the integration of modern financial services into conventional ones. These companies are also offering various financial services such as credit cards and post-paid payments to attract more consumers to the market.
Recent Developments
The market is expected to be worth US$ 20,339.6 million in 2024.
The embedded banking market is expected to reach US$ 149,426.9 million by 2034.
The market is growing at a CAGR of 22.10% from 2024 to 2034.
Bankable, Banxware, Bond, Cross River, Finix, Flywire, Marqeta, Plaid, Stripe, etc., are some of the key market players.
The market valuation in 2023 was US$ 16,881.3 million.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Solution
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Solution, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Solution, 2024 to 2034
5.3.1. Platform API
5.3.2. Services
5.3.2.1. Payment Processing
5.3.2.2. Lending
5.3.2.3. Contactless Payment
5.3.2.4. Card Issuing
5.3.2.5. Bank Transfer
5.3.2.6. Others
5.4. Y-o-Y Growth Trend Analysis By Solution, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Solution, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Organization Size
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Organization Size, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Organization Size, 2024 to 2034
6.3.1. Small and Mid-Sized Enterprises
6.3.2. Large Enterprises
6.4. Y-o-Y Growth Trend Analysis By Organization Size, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By Organization Size, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By End-User, 2019 to 2023
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-User, 2024 to 2034
7.3.1. Banks
7.3.2. FinTech Corporations
7.3.3. Investment Firms
7.3.4. Others
7.4. Y-o-Y Growth Trend Analysis By End-User, 2019 to 2023
7.5. Absolute $ Opportunity Analysis By End-User, 2024 to 2034
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034
8.3.1. North America
8.3.2. Latin America
8.3.3. Western Europe
8.3.4. Eastern Europe
8.3.5. South Asia and Pacific
8.3.6. East Asia
8.3.7. Middle East and Africa
8.4. Market Attractiveness Analysis By Region
9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. USA
9.2.1.2. Canada
9.2.2. By Solution
9.2.3. By Organization Size
9.2.4. By End-User
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Solution
9.3.3. By Organization Size
9.3.4. By End-User
9.4. Key Takeaways
10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Brazil
10.2.1.2. Mexico
10.2.1.3. Rest of Latin America
10.2.2. By Solution
10.2.3. By Organization Size
10.2.4. By End-User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Solution
10.3.3. By Organization Size
10.3.4. By End-User
10.4. Key Takeaways
11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Germany
11.2.1.2. UK
11.2.1.3. France
11.2.1.4. Spain
11.2.1.5. Italy
11.2.1.6. Rest of Western Europe
11.2.2. By Solution
11.2.3. By Organization Size
11.2.4. By End-User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Solution
11.3.3. By Organization Size
11.3.4. By End-User
11.4. Key Takeaways
12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. Poland
12.2.1.2. Russia
12.2.1.3. Czech Republic
12.2.1.4. Romania
12.2.1.5. Rest of Eastern Europe
12.2.2. By Solution
12.2.3. By Organization Size
12.2.4. By End-User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Solution
12.3.3. By Organization Size
12.3.4. By End-User
12.4. Key Takeaways
13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. India
13.2.1.2. Bangladesh
13.2.1.3. Australia
13.2.1.4. New Zealand
13.2.1.5. Rest of South Asia and Pacific
13.2.2. By Solution
13.2.3. By Organization Size
13.2.4. By End-User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Solution
13.3.3. By Organization Size
13.3.4. By End-User
13.4. Key Takeaways
14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. China
14.2.1.2. Japan
14.2.1.3. South Korea
14.2.2. By Solution
14.2.3. By Organization Size
14.2.4. By End-User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Solution
14.3.3. By Organization Size
14.3.4. By End-User
14.4. Key Takeaways
15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023
15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034
15.2.1. By Country
15.2.1.1. GCC Countries
15.2.1.2. South Africa
15.2.1.3. Israel
15.2.1.4. Rest of MEA
15.2.2. By Solution
15.2.3. By Organization Size
15.2.4. By End-User
15.3. Market Attractiveness Analysis
15.3.1. By Country
15.3.2. By Solution
15.3.3. By Organization Size
15.3.4. By End-User
15.4. Key Takeaways
16. Key Countries Market Analysis
16.1. USA
16.1.1. Market Share Analysis, 2023
16.1.1.1. By Solution
16.1.1.2. By Organization Size
16.1.1.3. By End-User
16.2. Canada
16.2.1. Market Share Analysis, 2023
16.2.1.1. By Solution
16.2.1.2. By Organization Size
16.2.1.3. By End-User
16.3. Brazil
16.3.1. Market Share Analysis, 2023
16.3.1.1. By Solution
16.3.1.2. By Organization Size
16.3.1.3. By End-User
16.4. Mexico
16.4.1. Market Share Analysis, 2023
16.4.1.1. By Solution
16.4.1.2. By Organization Size
16.4.1.3. By End-User
16.5. Germany
16.5.1. Market Share Analysis, 2023
16.5.1.1. By Solution
16.5.1.2. By Organization Size
16.5.1.3. By End-User
16.6. UK
16.6.1. Market Share Analysis, 2023
16.6.1.1. By Solution
16.6.1.2. By Organization Size
16.6.1.3. By End-User
16.7. France
16.7.1. Market Share Analysis, 2023
16.7.1.1. By Solution
16.7.1.2. By Organization Size
16.7.1.3. By End-User
16.8. Spain
16.8.1. Market Share Analysis, 2023
16.8.1.1. By Solution
16.8.1.2. By Organization Size
16.8.1.3. By End-User
16.9. Italy
16.9.1. Market Share Analysis, 2023
16.9.1.1. By Solution
16.9.1.2. By Organization Size
16.9.1.3. By End-User
16.10. Poland
16.10.1. Market Share Analysis, 2023
16.10.1.1. By Solution
16.10.1.2. By Organization Size
16.10.1.3. By End-User
16.11. Russia
16.11.1. Market Share Analysis, 2023
16.11.1.1. By Solution
16.11.1.2. By Organization Size
16.11.1.3. By End-User
16.12. Czech Republic
16.12.1. Market Share Analysis, 2023
16.12.1.1. By Solution
16.12.1.2. By Organization Size
16.12.1.3. By End-User
16.13. Romania
16.13.1. Market Share Analysis, 2023
16.13.1.1. By Solution
16.13.1.2. By Organization Size
16.13.1.3. By End-User
16.14. India
16.14.1. Market Share Analysis, 2023
16.14.1.1. By Solution
16.14.1.2. By Organization Size
16.14.1.3. By End-User
16.15. Bangladesh
16.15.1. Market Share Analysis, 2023
16.15.1.1. By Solution
16.15.1.2. By Organization Size
16.15.1.3. By End-User
16.16. Australia
16.16.1. Market Share Analysis, 2023
16.16.1.1. By Solution
16.16.1.2. By Organization Size
16.16.1.3. By End-User
16.17. New Zealand
16.17.1. Market Share Analysis, 2023
16.17.1.1. By Solution
16.17.1.2. By Organization Size
16.17.1.3. By End-User
16.18. China
16.18.1. Market Share Analysis, 2023
16.18.1.1. By Solution
16.18.1.2. By Organization Size
16.18.1.3. By End-User
16.19. Japan
16.19.1. Market Share Analysis, 2023
16.19.1.1. By Solution
16.19.1.2. By Organization Size
16.19.1.3. By End-User
16.20. South Korea
16.20.1. Market Share Analysis, 2023
16.20.1.1. By Solution
16.20.1.2. By Organization Size
16.20.1.3. By End-User
16.21. GCC Countries
16.21.1. Market Share Analysis, 2023
16.21.1.1. By Solution
16.21.1.2. By Organization Size
16.21.1.3. By End-User
16.22. South Africa
16.22.1. Market Share Analysis, 2023
16.22.1.1. By Solution
16.22.1.2. By Organization Size
16.22.1.3. By End-User
16.23. Israel
16.23.1. Market Share Analysis, 2023
16.23.1.1. By Solution
16.23.1.2. By Organization Size
16.23.1.3. By End-User
17. Market Structure Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Market Share Analysis of Top Players
17.3.1. By Regional
17.3.2. By Solution
17.3.3. By Organization Size
17.3.4. By End-User
18. Competition Analysis
18.1. Competition Deep Dive
18.1.1. Bankable Ltd
18.1.1.1. Overview
18.1.1.2. Product Portfolio
18.1.1.3. Profitability by Market Segments
18.1.1.4. Sales Footprint
18.1.1.5. Strategy Overview
18.1.1.5.1. Marketing Strategy
18.1.2. Banxware GmbH
18.1.2.1. Overview
18.1.2.2. Product Portfolio
18.1.2.3. Profitability by Market Segments
18.1.2.4. Sales Footprint
18.1.2.5. Strategy Overview
18.1.2.5.1. Marketing Strategy
18.1.3. Flywire
18.1.3.1. Overview
18.1.3.2. Product Portfolio
18.1.3.3. Profitability by Market Segments
18.1.3.4. Sales Footprint
18.1.3.5. Strategy Overview
18.1.3.5.1. Marketing Strategy
18.1.4. Marqeta
18.1.4.1. Overview
18.1.4.2. Product Portfolio
18.1.4.3. Profitability by Market Segments
18.1.4.4. Sales Footprint
18.1.4.5. Strategy Overview
18.1.4.5.1. Marketing Strategy
18.1.5. UNIPaaS Payments Technologies
18.1.5.1. Overview
18.1.5.2. Product Portfolio
18.1.5.3. Profitability by Market Segments
18.1.5.4. Sales Footprint
18.1.5.5. Strategy Overview
18.1.5.5.1. Marketing Strategy
18.1.6. Tink AB
18.1.6.1. Overview
18.1.6.2. Product Portfolio
18.1.6.3. Profitability by Market Segments
18.1.6.4. Sales Footprint
18.1.6.5. Strategy Overview
18.1.6.5.1. Marketing Strategy
18.1.7. Plaid Inc
18.1.7.1. Overview
18.1.7.2. Product Portfolio
18.1.7.3. Profitability by Market Segments
18.1.7.4. Sales Footprint
18.1.7.5. Strategy Overview
18.1.7.5.1. Marketing Strategy
18.1.8. OpenPayd Services Ltd
18.1.8.1. Overview
18.1.8.2. Product Portfolio
18.1.8.3. Profitability by Market Segments
18.1.8.4. Sales Footprint
18.1.8.5. Strategy Overview
18.1.8.5.1. Marketing Strategy
18.1.9. Cross River Bank
18.1.9.1. Overview
18.1.9.2. Product Portfolio
18.1.9.3. Profitability by Market Segments
18.1.9.4. Sales Footprint
18.1.9.5. Strategy Overview
18.1.9.5.1. Marketing Strategy
18.1.10. Finix Payments, Inc
18.1.10.1. Overview
18.1.10.2. Product Portfolio
18.1.10.3. Profitability by Market Segments
18.1.10.4. Sales Footprint
18.1.10.5. Strategy Overview
18.1.10.5.1. Marketing Strategy
19. Assumptions & Acronyms Used
20. Research Methodology
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