United Arab Emirates Embedded Finance Business and Investment Opportunities Databook - 75+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments - Q1 2024 Update

According to the publisher, the Embedded Finance industry in United Arab Emirates is expected to grow by 39.3% on annual basis to reach US$ 1.87 billion in 2024.

The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 28.6% during 2024-2029. The embedded finance revenues in the country will increase from US$ 1.87 billion in 2024 to reach US$ 6.60 billion by 2029.

The United Arab Emirates (UAE) is rapidly emerging as a hub for innovation in financial technology (FinTech). Embedded finance, a trend where financial services are seamlessly integrated within non-financial platforms, is gaining significant traction in the region.

Market Drivers of United Arab Emirates Embedded Finance Market:

• Strong Government Support: The UAE government actively promotes FinTech adoption through initiatives like Dubai Future and the Dubai International Financial Centre (DIFC). This fosters a regulatory environment conducive to embedded finance experimentation. The CEO of Coinbase, Brian Armstrong, also announced the global crypto exchange’s plan to explore the UAE as a hub for operations in the Middle East, Africa, and Asia.
• High Smartphone Penetration & Digital Adoption: The UAE boasts a highly tech-savvy population with widespread smartphone usage. This creates a fertile ground for embedded financial services accessible through mobile applications. GSMA Intelligence's numbers indicate that mobile connections in the UAE were equivalent to 219.4 percent of the total population in January 2024. The number of mobile connections in the United Arab Emirates increased by 963 thousand (+4.8 percent) between the start of 2023 and the start of 2024.
• Demand for Convenience: Consumers increasingly seek seamless financial experiences. Embedded finance offers the convenience of accessing financial services within the context of their daily activities, eliminating the need for separate applications.
• Growing E-commerce: The UAE's flourishing e-commerce market presents a significant opportunity for embedded finance solutions like Buy Now, Pay Later (BNPL) options and integrated payment gateways. The rise of online shopping sales expected to reach $9.2bn in 2026 and the general trend of more people buying online, 73% of total sales in the UAE back in 2022 were done online.

Major Deals and Innovation of United Arab Emirates Embedded Finance Market:

• MarTech giant Mitgo Group is launching a new cutting-edge business division - fintech services for affiliate publishers. According to conservative estimates, affiliate marketing spending reached $14.4 billion in 2023 and will exceed $15.7 billion this year. In the next three years, Mitgo plans to become a conduit for more than 7% of that transaction volume, which can be valued at more than $1.5 billion given the sector's growth. The first step in this direction is the acquisition of UAE-based embedded finance platform Embedded, whose team has extensive experience in fintech and will complement Mitgo's technology stack needed to enter a new market.
• In March 2024, Mitgo Group, a German marketing technology provider, has acquired the UAE-based embedded finance platform Embedded for an undisclosed amount. The acquisition will enable Mitgo Group to provide embedded finance solutions to its affiliate customers.
• In 2024, Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has signed a partnership with Core42, a G42 company and full-spectrum AI enablement solutions provider to mark the commencement of the implementation of Open Finance within the UAE, one of the nine initiatives within the CBUAE’s Financial Infrastructure Transformation (FIT) Programme.

Prominent Players: There are 32 key embedded finance startups in the UAE which include NymCard, Cashew Payments Technology, Fintech Galaxy, Spotii, Postpay. Other prominent players of the market, include Mashreq Bank, Emirates NBD, Sharaf DG, and Noon.

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.

It breaks down market opportunities by type of business model, consumer segment, and distribution models. In addition, it also provides detailed information across a range of different segment in each sector of embedded finance. KPI revenue help in getting an in-depth understanding of end market dynamics.

The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.

Scope

This report provides in-depth, data-centric analysis of Embedded Finance industry in United Arab Emirates. Below is a summary of key market segments:

United Arab Emirates Embedded Finance Market Size and Forecast

Embedded Finance by Key Sectors

• Retail
• Logistics
• Telecommunications
• Manufacturing
• Consumer Health
• Others

Embedded Finance by Business Model

• Platforms
• Enabler
• Regulatory Entity

Embedded Finance by Distribution Model

• Own Platforms
• Third Party Platforms

United Arab Emirates Embedded Insurance Market Size and Forecast

Embedded Insurance by Industry

• 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 Consumer Segments

• B2B
• B2C

Embedded Insurance by Type of Offering

• Embedded Insurance in Product Segment
• Embedded Insurance in Service Segment

Embedded Insurance by Business Model

• Platforms
• Enabler
• Regulatory Entity

Embedded Insurance by Distribution Model

• Own Platforms
• Third Party Platforms

Embedded Insurance by Distribution Channel

• Embedded Sales
• Bancassurance
• Broker’s/IFA’s
• Tied Agents

Embedded Insurance by Insurance Type

• Embedded Insurance in Life Segment
• Embedded Insurance in Non-Life Segment

Embedded Insurance in Non-Life Segment

• Motor Vehicle
• Fire and Property
• Accident and Health
• General Liability
• Marine, Aviation and other Transport
• Other

United Arab Emirates Embedded Lending Market Size and Forecast

Embedded Lending by Consumer Segments

• Business Lending
• Retail Lending

Embedded Lending by B2B Sectors

• 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

• 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

Embedded Lending by Type

• BNPL Lending
• POS Lending
• Personal Loans

Embedded Lending by Business Model

• Platforms
• Enabler
• Regulatory Entity

Embedded Lending by Distribution Model

• Own Platforms
• Third Party Platforms

United Arab Emirates Embedded Payment Market Size and Forecast

Embedded Payment by Consumer Segments

• B2B
• B2C

Embedded Payment by End-Use Sector

• 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

Embedded Payment by Business Model

• Platforms
• Enabler
• Regulatory Entity

Embedded Payment by Distribution Model

• Own Platforms
• Third Party Platforms

United Arab Emirates Embedded Wealth Management Market Size and Forecast

United Arab Emirates Asset Based Finance Management Industry Market Size and Forecast

Asset Based Finance by Type of Asset

• Hard Assets
• Soft Assets

Asset Based Finance by End Users

• SME’s
• Large Enterprises

Reasons to buy

• In-depth Understanding of Embedded Finance Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028).
• Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
• Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate embedded finance strategy; assess market specific key trends, drivers, and risks in the industry.
• Get Sector Insights: Drawing from proprietary survey results, this report identifies opportunities across embedded lending, embedded insurance, embedded finance, and embedded wealth sectors.
• Get insights at segment level, by the distribution model and by business model in key embedded finance segments
• Insights into the asset based finance market size and by type of assets, by end users.