DUBLIN--(BUSINESS WIRE)--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.
According to the Q4 2021 Embedded Finance Survey, Embedded Finance industry in the country 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/xl5ebz
