DUBLIN–(BUSINESS WIRE)–The “Taiwan 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 Taiwan is expected to grow by 35.1% on annual basis to reach US$ 1.63 billion in 2024.
The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 25.1% during 2024-2029. The embedded finance revenues in the country will increase from US$ 1.63 billion in 2024 to reach US$ 5.00 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.
Market Drivers of Taiwan Embedded Finance Market:
High smartphone penetration and tech adoption: Taiwan boasts a high smartphone penetration rate and a population comfortable with digital solutions, creating a prime environment for mobile-first embedded finance. According to Taiwan’s National Communications Commission (NCC), the smartphone penetration rate in Taiwan reached 88.4% in the first quarter of 2024.
Government support: The Taiwanese government actively promotes financial technology (fintech) innovation, including embedded finance, to enhance financial inclusion and economic competitiveness. The Taiwanese government launched the ‘Financial Technology Development and Innovation Sandbox’ initiative in 2018, providing a regulatory sandbox environment for fintech startups to test and pilot innovative solutions, including embedded finance.
Rise of e-commerce and on-demand services: The rapid growth of e-commerce and on-demand services like food delivery necessitates seamless payment and financial solutions, fostering embedded finance adoption.
Open Banking regulations: The implementation of Open Banking regulations enables secure data sharing between financial institutions and fintech companies, facilitating collaboration and innovation in embedded finance. The Financial Supervisory Commission (FSC) of Taiwan implemented the first phase of Open Banking regulations in 2022, allowing consumers to share their financial data securely with authorized third-party providers.
Key Trends of Taiwan Embedded Finance Market:
Focus on B2B embedded finance: Embedded finance solutions are increasingly targeting businesses, offering features like automated invoice payments, supply chain financing, and embedded lending for small and medium enterprises (SMEs).
Integration with AI and Big Data: Artificial Intelligence (AI) and Big Data are being used to personalize financial offerings within embedded finance platforms. This allows for risk assessment, fraud detection, and tailored financial products based on user behaviour.
Regulatory focus on security and privacy: As the market evolves, regulations around data security and consumer privacy become paramount. Ensuring a robust regulatory framework will be crucial for building trust and fostering long-term growth.
Emergence of new players: Alongside established players, new fintech startups are entering the market, offering specialized embedded finance solutions for specific industries.
Major Deals and Innovation of Taiwan Embedded Finance Market:
Line Pay (2023): Messaging platform Line Pay partnered with a leading Taiwanese e-commerce platform to offer BNPL (Buy Now, Pay Later) options within the e-commerce platform, streamlining the online shopping experience with embedded financing.
Fubon Bank (2024): Fubon Bank collaborated with a ride-hailing service to provide embedded insurance within the ride-hailing app, allowing users to purchase trip cancellation or personal accident insurance during the booking process.
Competitive Landscape: The competition in Taiwan’s embedded finance market is multifaceted, with established players like banks and telecom companies collaborating with fintech startups. Global tech giants are also eyeing the market, offering embedded finance solutions alongside their core services. The competitive landscape is constantly evolving, with new entrants and strategic partnerships reshaping the market dynamics.
Traditional Banks:
Telecommunication Companies:
Fintech Startups:
Key Attributes:
Report Attribute | Details |
No. of Pages | 130 |
Forecast Period | 2024 – 2029 |
Estimated Market Value (USD) in 2024 | $1.6 Billion |
Forecasted Market Value (USD) by 2029 | $5 Billion |
Compound Annual Growth Rate | 25.1% |
Regions Covered | Taiwan |
Scope
Taiwan Embedded Finance Market Size and Forecast
Embedded Finance by Key Sectors
Embedded Finance by Business Model
Embedded Finance by Distribution Model
Taiwan 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
Taiwan 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
Taiwan 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
Taiwan Embedded Wealth Management Market Size and Forecast
Taiwan 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/nf3r2g
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