DUBLIN–(BUSINESS WIRE)–The “India Embedded Finance Business and Investment Opportunities Databook – 75+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments – Q1 2024 Update” report has been added to ResearchAndMarkets.com’s offering.
Embedded Finance industry in India is expected to grow by 43.1% on annual basis to reach US$ 6.90 billion in 2024.
The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 37.8% during 2024-2029. The embedded finance revenues in the country will increase from US$ 6.90 billion in 2024 to reach US$ 34.32 billion by 2029.
This report provides a detailed data-centric analysis of the embedded finance industry, covering lending, insurance, payment, wealth and asset based finance sectors market opportunities and risks across a range of different sectors. With over 75+ KPIs at the country level, this report provides a comprehensive understanding of embedded finance market dynamics, market size and forecast.
Embedded finance is one of the fastest growing areas in the fintech industry, with a huge growth potential in a developing country like India, owing to the young population that is increasingly adopting new age technologies. Embedded Finance has the potential to revolutionize the delivery of financial services in India.
This innovation can enhance accessibility, affordability, and convenience for consumers, while simultaneously fostering business growth and innovation. Embedded finance represents not only a technological advancement but also a socio-economic transformation. By streamlining financial services, it holds the promise of integrating millions of individuals into the formal financial sector. India’s population of over 1.3 billion and its rapidly expanding digital economy, the country offers a substantial opportunity for fintech companies seeking to introduce groundbreaking financial services to consumers.
Growth Drivers in India: Embedded finance is expanding the availability of financial services in India. With embedded finance, individuals who were previously underserved or excluded from traditional banking services can now access financial products and services. Embedded finance is also improving financial inclusion in India by providing individuals with greater access to financial services.
Underbanked Population: A large underbanked population creates a significant demand for credit. Fintech firms are addressing this gap with innovative lending solutions, including short-term loans and BNPL (Buy Now, Pay Later) services. Demand for embedded credit is expected to rise in smaller cities. Providers such as KreditBee and Pine Labs are strategizing expansion into these areas, forging partnerships with stores and increasing their reach. Paytm, a major mobile wallet player, is leveraging its platform to offer BNPL, personal loans, and merchant loans. This trend is expected to continue with PhonePe potentially entering the consumer lending space soon.
Pandemic-Fueled Digitalization: The COVID-19 pandemic accelerated the adoption of online shopping and digital financial services. This created a fertile ground for embedded finance solutions, as consumers became comfortable managing finances online. E-commerce giants like Flipkart and Myntra embed lending at checkout via partnerships with NBFCs. This allows shoppers to split cart values into multiple interest-free EMIs, boosting sales.
In the mobility space, Ola Money embedded micro-insurance for cab rides covering theft or damage. This saw rapid adoption as it removed friction by bundling insurance directly with the cab booking experience. Healthcare platforms like Practo also let patients finance medical bills or premiums via embedded lending. Such embedded finance improves access to critical services for those with irregular incomes.
UPI’s Dominance in India’s Payment Landscape: One of the most notable examples of Embedded Finance’s impact is seen in the rise of the Unified Payments Interface (UPI) in India. With billions of transactions worth trillions of rupees recorded monthly, UPI has become a dominant force in the country’s payment ecosystem, replacing cash and driving digitization of the economy. The acceptance of UPI among merchants has also increased, enhancing credit eligibility for small businesses and consumers. As per 2024 UPI statistics, more than 260 million people uses UPI in India and 360 million UPI transaction are recorded per day.
Embedded finance aims to streamline financial processes in both consumer and business commerce by reducing barriers to entry for various products and services, enabling ease of payments at various touchpoints.
Reasons to buy
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $6.9 Billion |
| Forecasted Market Value (USD) by 2029 | $34.3 Billion |
| Compound Annual Growth Rate | 37.8% |
| Regions Covered | India |
Scope
India Embedded Finance Market Size and Forecast
Embedded Finance by Key Sectors
Embedded Finance by Business Model
Embedded Finance by Distribution Model
India Embedded Insurance Market Size and Forecast
Embedded Insurance by Industry
Embedded Insurance by Consumer Segments
Embedded Insurance by Type of Offering
Embedded Insurance by Business Model
Embedded Insurance by Distribution Model
Embedded Insurance by Distribution Channel
Embedded Insurance by Insurance Type
Embedded Insurance in Non-Life Segment
India Embedded Lending Market Size and Forecast
Embedded Lending by Consumer Segments
Embedded Lending by B2B Sectors
Embedded Lending by B2C Sectors
Embedded Lending by Type
Embedded Lending by Business Model
Embedded Lending by Distribution Model
India Embedded Payment Market Size and Forecast
Embedded Payment by Consumer Segments
Embedded Payment by End-Use Sector
Embedded Payment by Business Model
Embedded Payment by Distribution Model
India Embedded Wealth Management Market Size and Forecast
India Asset Based Finance Management Industry Market Size and Forecast
Asset Based Finance by Type of Asset
Asset Based Finance by End Users
For more information about this report visit https://www.researchandmarkets.com/r/r2ogga
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