DUBLIN–(BUSINESS WIRE)–The “Vietnam 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.
Vietnam’s Embedded Finance industry is expected to grow by 66.3% on annual basis to reach US$336.4 million in 2022.
The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 40.5% during 2022-2029. The embedded finance revenues in the country will increase from US$336.4 million in 2022 to reach US$2,188.4 million by 2029.
Growth in technology adoption in the country’s insurance sector supported the embedded insurance market. Market players are pioneering AI technologies and digitization for sales and distribution activities and strategizing to seize the opportunities prevailing in the industry.
The government of Vietnam has established a program with a vision to transform Vietnam into a digital country. The program includes the plans and objectives to be achieved by the year 2025. The Vietnam government’s development efforts for the country’s digital transformation are expected to fuel the embedded insurance market in the forthcoming years.
Insurtechs are raising funds to expand their product portfolio in the Vietnamese embedded insurance industry. In 2020, Papaya Insurtech, a Vietnam-based insurtech company, raised pre-seed money and is now looking forward to raising US$1 million. The company is planning to invest funding into automation and digitization technologies. As per the publisher’s analysis, the growth in funding activities by insurtech players in Vietnam is expected to rope in technological advancements in the sector, consequently supporting the development of the embedded insurance market.
Like other embedded finance offerings, embedded lending is relatively new in Vietnam. The unregulated market is also allowing market players to enter the market without difficulty. The young and digital-savvy population, low rates of formal financial inclusion, and strong smartphone and Internet penetration have made the country a point of attention among foreign fintech players
- In September 2021, Indonesia-based buy now, pay later (BNPL) start-up Kredivo entered into a partnership with Vietnam-based family investment office Phoenix Holdings. Kredivo is planning to capitalize on Phoenix Holding’s existing client base and expand its foothold in the Vietnamese embedded lending market.
Furthermore, conventional financial institutions are also launching BNPL lending options to provide a seamless customer experience to customers.
- In October 2021, Vietnam-based Lotte Finance launched the BNPL service to improve the online buying experience of Vietnamese customers.
Like other embedded finance offerings, embedded payment is relatively new in Vietnam. However, the unregulated market also allows new entrants to enter the market without difficulty, resulting in the growing attention of embedded payment providers towards the country.
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.
Vietnam Embedded Finance Market Size and Forecast
Vietnam 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
Vietnam 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
Vietnam Embedded Payment Market Size and Forecast
Embedded Payment by Consumer Segments, 2020 – 2029
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
Vietnam Embedded Wealth Management Market Size and Forecast
For more information about this report visit https://www.researchandmarkets.com/r/lvv2xk
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