日本嵌入式金融市場：依金融類型、商業模式、經銷模式、最終用途、地區、機會、預測，2018-2032 年

根據預測，日本嵌入式金融市場規模將從2024年的69.2億美元成長到2032年的790.1億美元，在2025-2032年的預測期間內複合年增長率為35.58%。嵌入式金融市場的成長是由智慧型手機和網路使用者的增加、人工智慧工具帶來的技術進步、金融和非金融平台的整合、消費者對便利性的需求、金融科技新創公司的增加、支援監管框架、金融IT所推動的。

嵌入式金融是指透過API和平台提供金融產品和服務的非金融公司。嵌入式金融使企業能夠存取和使用第三方提供的金融服務。這個市場為成熟的金融機構和金融科技新創公司提供了多種合作和創新擴大客戶範圍的機會。

隨著金融機構提供BaaS（銀行即服務），嵌入式金融呈現高成長率。在日本，虛擬卡和二維碼的使用對市場成長做出了重大貢獻。信用卡是日本最受歡迎的支付方式，到 2022 年將成長 16%，達到 6,015.54 億美元。

本報告調查了日本嵌入式金融市場，並提供了市場概述，以及我們提供的金融類型、商業模式、分銷模式、最終用途、地區和進入市場的公司概況的趨勢。

目錄

第一章研究方法

第 2 章專案範圍與定義

第 3 章執行摘要

第 4 章顧客回饋

第 5 章日本嵌入式金融市場展望，2018-2032

• 市場規模與預測
• 依金融類型
• 依商業模式
• 依分銷模式
• 依最終用途
• 依地區
• 各公司的市佔率 (%)，2024 年

第 6 章市場地圖，2024 年

第七章宏觀環境與產業結構

• 供應需求分析
• 價值鏈分析
• PESTEL 分析
• 波特五力分析

第 8 章市場動態

第九章主要參與企業狀況

第10章訂閱費用分析

第 11 章案例研究

第 12 章主要進入者展望

• Paidy Co. Limited
• Credit Saison Co. Limited
• Sumitomo Mitsui Financial Group Inc.
• Infcurion Inc.
• Net Protections Holdings Inc.
• Origami Inc.
• Kyash Inc.
• Credit Engine Inc.
• Upsider Inc.
• Smartpay K.K.

第 13 章策略建議

第十四章查詢及免責聲明

Japan embedded finance market is projected to witness a CAGR of 35.58% during the forecast period FY2025-FY2032, growing from USD 6.92 billion in FY2024 to USD 79.01 billion in FY2032. The growth in the embedded finance market is governed by factors such as the rise in usage of smartphones and internet users, technological advancements with AI tools, integrating finance with non-finance platforms, consumer demand for convenience, rise in fintech startups, supporting regulatory frameworks, financial inclusion initiatives, and rise in digitalization.

Embedded finance means a non-financial company provides financial products and services through APIs and platforms. It provides companies with access to and utilizes financial services provided by third parties. The market has presented several opportunities for established financial institutions and fintech startups to collaborate and expand their customer reach innovatively.

Embedded finance is growing at a high rate as financial institutions are providing Banking-as-a-service (BaaS) offerings. The use of virtual cards and QR codes are significant in Japan leading to the growth of the market. Credit cards are the most favorable method of payment in Japan with an increase of 16 percent amounting to USD 601,554 million in FY2022.

Integrating Financial Services into Non-Financial Platforms

The integration of financial services into non-financial platforms has emerged as a fundamental driver fueling the growth of global embedded finance market. This deliberate fusion flawlessly embeds financial services within the ecosystem of non-financial platforms, primarily transforming how consumers and businesses access and utilize financial tools. Traditional boundaries between financial and non-financial sectors are blurred, providing users with a comprehensive and unified experience. It facilitates non-financial businesses, such as e-commerce platforms, ride-sharing apps, and other digital service providers, to offer various financial services directly through their interfaces.

In 2023, Infcurion provided a wallet station to Tsuruha Group's smartphone payment service "Happay", where users can now conduct payments, and collect points and coupons in the app. As consumers increasingly seek flawless, one-stop solutions, the embedded finance market leverages this demand by embedding financial functionalities where users already engage with services in Japan.

Rise in Smartphone and Internet Users

The adoption rate of smartphones has significantly increased in the past few years. The proliferation of 4G and 5G connectivity has enabled customers to have hassle-free access to conduct payments through smartphones. Moreover, comprehensive growth in the distribution network of smartphone companies has made smartphone devices easily available for end-users. For instance, Samsung and MI are major mobile phone brands in rural India, owing to their pan-India distribution channel, making online payments accessible to the rural population via their mobile phones. According to the Iron Source, Japan has 107.12 million smartphone users, which is 85 percent of the population. Furthermore, the increase in the use of smartphones and the expansion in faster connectivity have enabled retailers and customers to transact payments through their smartphones, which is indirectly propelling the growth of Japan embedded finance market.

Kanto to Dominate Japan Embedded Finance Market

Kanto dominated the Japanese market share in FY2023 owing to the dominance of key market players in the region. Moreover, various embedded finance startups in Tokyo are actively engaging in fundraising initiatives to accelerate the adoption of embedded finance. The regulatory bodies in Japan are actively contemplating policies and regulations to foster innovation and competition in the embedded finance market. They are aiming to maintain a balance between consumer protection and enabling partnerships between financial and non-financial entities. Recently, Smartpay secured USD 7 million in pre-Series A funding to promote expansion and business development efforts in the payment sector.

Also, Kansai is growing faster as Osaka is emerging due to a strong economy and growing tech scenario. The adoption of fintech startups is growing indirectly, leading to the growth of the embedded finance market in the region.

Embedded Payment Segment to Dominate the Market

The embedded payment segment dominated the market as traditional invoicing techniques were replaced with embedded payments, which gave firms a faster and more effective means to receive payments. These payments give customers, an access to other funding sources and make shopping simpler, leading to customer delight. Moreover, partnerships between non-financial platforms and payment provide access to secure, reliable, and flexible payment solutions, facilitating the adoption of embedded payments. In 2024, Infcurion and FreeWay started a business-to-business payment service "FreeWay Invoice Card Payment, Powered by Winvoice" allowing users the facility to switch their payment method, delay payment deadlines, and resolve issues related to sudden financing needs.

The embedded lending segment has the highest CAGR due to the increasing demand for seamless and quick access to funds. With lending options at relevant touch points within non-lending platforms, users are exposed to lending products and encouraged to consider their lending needs. The increased awareness is attributed to the growth of the embedded lending segment.

Future Market Scenario (FY2025 - FY2032)

The embedded finance solution vendors are integrating their services, making them personalized for end-users, which includes AI integration into lending platforms, machine learning for embedded investment programs, and Internet of Things (IoT) integration with embedded payment options which enhance the end-user experience and continuously transform the market.

In February 2024, Credit Engine launched an "AI Negotiation Chat" in its CE Collection service, which is designed to handle overdue receivables.

Key Players Landscape and Outlook

The market is competitive due to the presence of many prominent players. The industry players aim for new product launches and partnerships and collaboration as a strategic method to improve their offerings and expand their customer base. Together with the advancement in technologies, such as AI and ML, the market players are reaching newer heights and boosting the growth of Japan embedded finance market.

In March 2024, Chubb Insurance partnered with Smartpay to develop digital insurance products focusing on the embedded insurance sector in the Japanese market. These products will allow consumers to purchase insurance that suits the product they are purchasing at the point of checkout, at a price that caters to their needs.

Table of Contents

1.Research Methodology

2.Project Scope and Definitions

3.Executive Summary

4.Voice of Customer

• 4.1.Demographics (Age/Cohort Analysis - Baby Boomers and GenX, Millennials, Gen Z; Gender; Income - Low, Mid and High; Geography; Nationality; etc.)
• 4.2.Market Awareness and Product Information
• 4.3.Brand Awareness and Loyalty
• 4.4.Factors Considered in Purchase Decision
  • 4.4.1.Brand Name
  • 4.4.2.Finance Type
  • 4.4.3.Fees and Costs
  • 4.4.4.Awareness
  • 4.4.5.Ease of Use
  • 4.4.6.Security
  • 4.4.7.Promotional Offers and Discounts
• 4.5.Purpose of Purchase
• 4.6.Frequency of Purchase
• 4.7.Customer Support

5.Japan Embedded Finance Market Outlook, FY2018-FY2032

• 5.1.Market Size & Forecast
  • 5.1.1.By Value
• 5.2.By Finance Type
  • 5.2.1.Embedded Payment
  • 5.2.2.Embedded Insurance
  • 5.2.3.Embedded Investment
  • 5.2.4.Embedded Banking
  • 5.2.5.Embedded Lending
• 5.3.By Business Model
  • 5.3.1.Platforms
  • 5.3.2.Enabler
  • 5.3.3.Regular Entity
• 5.4.By Distribution Model
  • 5.4.1.Own Platform
  • 5.4.2.Third Party Platforms
• 5.5.By End-use
  • 5.5.1.Retail and E-Commerce
  • 5.5.2.Healthcare
  • 5.5.3.Transportation and Logistics
  • 5.5.4.Manufacturing
  • 5.5.5.Travel and Entertainment
  • 5.5.6.Others
• 5.6.By Region
  • 5.6.1.Hokkaido
  • 5.6.2.Tohoku
  • 5.6.3.Kanto
  • 5.6.4.Chubu
  • 5.6.5.Kinki/Kansai
  • 5.6.6.Chugoku
  • 5.6.7.Shikoku
  • 5.6.8.Kyushu
• 5.7.By Company Market Share (%), FY2024

6.Market Mapping, FY2024

• 6.1.By Finance Type
• 6.2.By Business Model
• 6.3.By Distribution Model
• 6.4.By End-use
• 6.5.By Region

7.Macro Environment and Industry Structure

• 7.1.Supply Demand Analysis
• 7.2.Value Chain Analysis
• 7.3.PESTEL Analysis
  • 7.3.1.Political Factors
  • 7.3.2.Economic System
  • 7.3.3.Social Implications
  • 7.3.4.Technological Advancements
  • 7.3.5.Environmental Impacts
  • 7.3.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)
• 7.4.Porter's Five Forces Analysis
  • 7.4.1.Supplier Power
  • 7.4.2.Buyer Power
  • 7.4.3.Substitution Threat
  • 7.4.4.Threat from New Entrant
  • 7.4.5.Competitive Rivalry

8.Market Dynamics

• 8.1.Growth Drivers
• 8.2.Growth Inhibitors (Challenges and Restraints)

9.Key Players Landscape

• 9.1.Competition Matrix of Top Five Market Leaders
• 9.2.Market Revenue Analysis of Top Five Market Leaders (in %, FY2024)
• 9.3.Mergers and Acquisitions/Joint Ventures (If Applicable)
• 9.4.SWOT Analysis (For Five Market Players)
• 9.5.Patent Analysis (If Applicable)

10.Subscription Fee Analysis

11.Case Studies

12.Key Players Outlook

• 12.1.Paidy Co. Limited
  • 12.1.1.Company Details
  • 12.1.2.Key Management Personnel
  • 12.1.3.Products and Services
  • 12.1.4.Financials (As reported)
  • 12.1.5.Key Market Focus and Geographical Presence
  • 12.1.6.Recent Developments
• 12.2.Credit Saison Co. Limited
• 12.3.Sumitomo Mitsui Financial Group Inc.
• 12.4.Infcurion Inc.
• 12.5.Net Protections Holdings Inc.
• 12.6.Origami Inc.
• 12.7.Kyash Inc.
• 12.8.Credit Engine Inc.
• 12.9.Upsider Inc.
• 12.10.Smartpay K.K.

Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

13.Strategic Recommendations

14.About Us and Disclaimer

List of Tables

• Table 1. Pricing Analysis of Products from Key Players
• Table 2. Competition Matrix of Top 5 Market Leaders
• Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)
• Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

List of Figures

• Figure 1.Japan Embedded Finance Market, By Value, In USD Billion, FY2018-FY2032F
• Figure 2.Japan Embedded Finance Market Share (%), By Finance Type, FY2018-FY2032F
• Figure 3.Japan Embedded Finance Market Share (%), By Business Model, FY2018-FY2032F
• Figure 4.Japan Embedded Finance Market Share (%), By Distribution Model, FY2018-FY2032F
• Figure 5.Japan Embedded Finance Market Share (%), By End-use, FY2018-FY2032F
• Figure 6.Japan Embedded Finance Market Share (%), By Region, FY2018-FY2032F
• Figure 7.By Finance Type Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 8.By Business Model Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 9.By Distribution Model Size Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 10.By End-use Map-Market Size (USD Billion) & Growth Rate (%), FY2024
• Figure 11.By Region Map-Market Size (USD Billion) & Growth Rate (%), FY2024