Australia Embedded Finance (Business & Retail) Market Analysis Report 2022: Market is Expected to Reach a Value of $15.98 Billion by 2029
DUBLIN, Aug. 23, 2022 /PRNewswire/ -- The "Australia Embedded Finance Business and Investment Opportunities Databook - 50+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.
Australia's Embedded Finance industry is expected to grow by 46.4% on annual basis to reach US$3,853.2 million in 2022.
The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 29.4% during 2022-2029. The embedded finance revenues in the country will increase from US$3,853.2 million in 2022 to reach US$15,989.9 million by 2029.
Embedded finance is a new trend in Australia, but it's gaining traction at a significant pace. The Australian fintech industry is highly diverse and is one of the leading countries in the Asia-pacific region, in terms of product innovation. New-age fintech start-ups in Australia are capitalizing on the booming embedded payment market by catering to customers' ever-increasing needs for a seamless payment experience. The pandemic has further pushed the embedded payments demand growth alongside rising digital shopfronts.
In Australia, new-age insurtech startups are taking advantage of the growing embedded insurance industry by serving customers' ever-increasing demands. The traditional insurance industry in Australia has been transformed by the sluggish response of incumbents, easy availability of investment funds, and a high degree of flexibility and agility. Moreover, the embedded insurance industry is witnessing strong growth in Australia due to the rise of the e-commerce industry.
Market players in this industry are aggressively partnering with different businesses across industry verticals, including travel, auto, retail, fintech, and gig platform, to capitalize on the growing trend of embedded insurance services. Australian insurtech firms are also raising funds to expand their services globally and capture a larger market share.
in August 2021, Australian insurtech firm, Open raised US$31 million in its Series B funding round. The funding round led by Kiwi VC Movac and Latitude in the UK has brought the total capital raised by Open to US$53 million. Notably, the firm plans to use the recently raised funding round to expand its services in the United Kingdom and New Zealand over the next 12 months.
The publisher projects that market players in the embedded insurance industry in Australia will continue to expand their reach in this segment over the next four to eight quarters. The publisher expects traditional insurers and insurtech players to customize coverage to incorporate differing customer needs and extended data points with more data and greater computing power.
Moreover, foreign players are also eyeing to expand their services into the Australian embedded lending market through partnerships and collaborations.
The United States-based Tavant AI-powered digital technology provider announced today that it had formed a strategic alliance with Hay Group, an Australian fintech company, to bring the full range of payment and lending capabilities to the Australian financial market.
Moreover, foreign players are also eyeing to expand their services into the Australian embedded payment market through partnerships and collaborations. Additionally, the Australian government is searching for the best methods to upgrade its present financial regulatory infrastructure to improve digital wallets & contactless payments scenarios. The government's push towards technologically advanced payment methods is anticipated to propel market growth.
This report provides a detailed data centric analysis of market opportunity across 50+ segments in embedded finance industry covering lending, insurance, payment, and wealth sectors.
Scope
Australia Embedded Finance Market Size and Forecast
Australia Embedded Lending Market Size and Forecast
Embedded Lending by Consumer Segments, 2020 - 2029
Business Lending
Retail Lending
Embedded Lending by B2B Sectors, 2020 - 2029
Embedded Lending in Retail & Consumer Goods
Embedded Lending in IT & Software Services
Embedded Lending in Media, Entertainment & Leisure
Embedded Lending in Manufacturing & Distribution
Embedded Lending in Real Estate
Embedded Lending in Other
Embedded Lending by B2C Sectors, 2020 - 2029
Embedded Lending in Retail Shopping
Embedded Lending in Home Improvement
Embedded Lending in Leisure & Entertainment
Embedded Lending in Healthcare and Wellness
Embedded Lending in Other
Australia Embedded Insurance Market Size and Forecast
Embedded Insurance by Industry, 2020 - 2029
Embedded Insurance in Consumer Products
Embedded Insurance in Travel & Hospitality
Embedded Insurance in Automotive
Embedded Insurance in Healthcare
Embedded Insurance in Real Estate
Embedded Insurance in Transport & Logistics
Embedded Insurance in Others
Embedded Insurance by Insurance Type, 2020 - 2029
Embedded Insurance in Life Segment
Embedded Insurance in Non-Life Segment
Embedded Insurance by Type of Offering, 2020 - 2029
Embedded Insurance in Product Segment
Embedded Insurance in Service Segment
Australia Embedded Payment Market Size and Forecast
Embedded Payment by Consumer Segments, 2020 - 2029
B2B
B2C
Embedded Payment by End-Use Sector, 2020 - 2029
Embedded Payment in Retail & Consumer Goods
Embedded Payment in Digital Products & Services
Embedded Payment in Utility Bill Payment
Embedded Payment in Travel & Hospitality
Embedded Payment in Leisure & Entertainment
Embedded Payment in Health & Wellness
Embedded Payment in Office Supplies & Equipment
Embedded Payment in Other
Australia Embedded Wealth Management Market Size and Forecast
For more information about this report visit https://www.researchandmarkets.com/r/5w9ue3
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