The “Canada 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, Canada’s Embedded Finance industry is expected to grow by 42.5% on annual basis to reach US$4,700.8 million in 2022.
The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 25.2% during 2022-2029. The embedded finance revenues in the country will increase from US$4,700.8 million in 2022 to reach US$15,878.2 million by 2029.
The Canadian embedded insurance industry has gained rapid momentum over the last four quarters, primarily accelerated by the global pandemic. Consequently, insurtech firms are raising funds to boost their growth and expand their distribution network in Canada.
In January 2021, APOLLO Insurance Solutions raised US$10.6 million. Moreover, with the growing success in the Canadian insurance industry, insurtech startups are now eyeing to expand their services in the United States. The publisher projects that the funding activities in the industry are expected to grow further in Canada over the next four to eight quarters.
Embedded insurance providers are aggressively partnering with businesses across industry verticals to increase their market share in Canada. The Canadian embedded insurance market is also experiencing growing mergers and acquisitions among market players to gain a competitive advantage in the market.
While the commercial insurance space lags behind innovation, the personal insurance sector is experiencing innovation from both insurtech startups and incumbent insurers in the country. The publisher expects the commercial insurance space to see much deeper innovation over the next four to eight quarters in Canada.
The pandemic has boosted the growth of the embedded lending industry globally, and Canada is no exception. Fintech firms are raising funds to accelerate their growth and expand their distribution network to take advantage of the embedded lending industry’s strong growth potential in Canada.
These fundings are expected to grow further in Canada over the next four to eight quarters. The market players are also making efforts to introduce innovative offerings and the latest technologies in the sector, which is expected to further drive the market growth.
Furthermore, the considerable dependence of SMEs on informal sources of financing and loans reflects a significant in the Canadian financing system. Market players have an opportunity to fill this gap through innovative embedded lending offerings.
Canada-based e-commerce platform Shopify has already leveraged the opportunity by introducing Shopify Capital for its merchants in Canada. Shopify is making efforts to fill the funding gap in the country and provide enhanced experiences to its merchants. The publisher projects an increased number of e-commerce platforms to offer embedded lending to take advantage of the enormous growth opportunity prevailing in the e-commerce market in Canada.
Fintech firms are raising funds to accelerate their growth and expand their foothold in the embedded payment industry. Furthermore, fintech firms are planning to take advantage of the embedded payment industry’s strong growth potential in Canada. Consequently, the publisher expects fund raising activities are expected to grow further in Canada in the forthcoming quarters.
The market players are also making efforts to introduce innovative offerings and the latest technologies in the sector, which is anticipated to fuel the market growth in 2022. International embedded payment providers are also eyeing the growing opportunity in the region. These companies are joining hands with Canadian firms to introduce their offerings to Canadian clients.
In October 2021, European payment provider Worldline partnered with Canada-based live shopping solution provider Livescale. Under this collaboration, the companies will provide an embedded commerce solution with in-video checkout features that will work across social media and websites.
Scope
Canada Embedded Finance Market Size and Forecast
Canada 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
Canada 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
Canada 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
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