China Banking-as-a-Service (BaaS) Market to Experience Rapid Expansion: Projected to Reach USD 62.82 Billion by 2030 with a 17.3% CAGR

China Banking-as-a-Service (BaaS) Market size was valued at USD 20.56 Bn. in 2023 and the total revenue is expected to grow at 17.3 percent through 2024 to 2030, reaching nearly USD 62.82 Bn. Stellar Market Research, has published market intelligence and competitive landscape report on the China Banking-as-a-Service (BaaS) Market.

China Banking-as-a-Service (BaaS) Market Overview:

Banking-as-a-Service (BaaS) is an end-to-end digital banking procedure that enables seamless execution of web-based financial services. Available on demand and scheduled efficiently, BaaS integrates multiple service providers into a single streamlined procedure, ensuring compliance with local banking regulations. The rapid growth of China's retail banking sector over the past decade has been notable with retail deposits increasing six-fold and loans growing twenty-fold. This growth has propelled China to surpass the United States as the largest retail banking market globally. According to McKinsey & Company retail banking income in China is projected to reach USD 480 billion by 2029.

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China Banking-as-a-Service (BaaS) Market Dynamics: Key Drivers, Trends and Challenges

The integration of AI analytics is a major driver of the China Banking-as-a-Service (BaaS) Market. AI applications in banking encompass several key areas are Speech Recognition and NLP, Service Robotics, Machine Learning, Computer Vision, and Biometrics. These advancements contribute to the efficiency and effectiveness of financial services, driving the growth of the China Banking-as-a-Service (BaaS) Market.

SMEs face challenges such as unorganized data, limited data effectiveness, and diverse trade information. Fintech firms have digitized the financial services supply chain using 5G, AI, and big data analytics, addressing these issues through smart risk rating models and improved credit systems.

Growth of Online Payments

China's online payment sector continues to expand, with 810 million users by mid-2022. Mobile payments reached USD 30.9 trillion in the first half of the year, a year-on-year increase of 18.3%, representing the sector's integration with the broader digital economy.

Government Policies

Regulatory policies significantly impact the Fintech segment. For instance, in September 2017, China banned initial coin offerings and established the Central Bank Digital Currency Institute to develop a national digital currency. These regulations shape the market dynamics and influence the growth trajectories of various Fintech related business models.

The China Banking-as-a-Service (BaaS) Market is poised for robust growth, driven by technological progressions, increasing AI integration and evolving regulatory frameworks. The sector's rapid expansion reflects its critical role in the digital transformation of China's financial services industry.

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China Banking-as-a-Service (BaaS) Market Scope:

Market Size in 2023 USD 20.56 Bn.

Market Size in 2030 USD 62.82 Bn.

CAGR 17.3% (2024-2030)

Forecast Period 2024-2030

Base Year 2023

Number of Pages 255

No. of Tables 120

No. of Charts and Figures 115

Segment Covered by Type, Enterprise, and Service

Report Coverage Market Share, Size & Forecast by Revenue | 2024-2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, SMR Competition Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.

China Banking-as-a-Service (BaaS) Market Segmentation:

By Type

API-based BaaS

Cloud-based BaaS

By Enterprise

SMEs

Large Enterprises

By Service

Banking IaaS

Banking as a Platform

FinTech SaaS

NBFCs

During the projected period, the Fintech SaaS segment is anticipated to develop at the highest CAGR of 15.9%, according to service. Fintech in China encompasses three main areas: technology-driven business models and service innovations; online services and sales; and, most importantly, the use of internet technologies to improve financial institutions' operational efficiency. It is anticipated that fintech participation will increase along the course of the financial services transformation process. The use of data and analytics is becoming more and more necessary for making wise business decisions. New breakthroughs in technology and creative thinking are expected to lead to more innovations in business models.

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Some of the current players in the China Banking-as-a-Service (BaaS) Market are:

OneConnect

Du Xiaoman Financial

Jeidaibao

Shanghai Shudan Information Technology

DaoKou Fintech

Aibao Technology

Tigerobo

DataGrand

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Key questions answered in the China Banking-as-a-Service (BaaS) Market are:

What is the CAGR of the China Banking-as-a-Service (BaaS) Market in the forecast period (2024-2030)?

What are the drivers of the China Banking-as-a-Service (BaaS) Market?

Who are the key players in China Banking-as-a-Service (BaaS) Market?

Which segment has lucrative growth opportunities in the China Banking-as-a-Service (BaaS) Market?

Key Offerings:

Past Market Size and Competitive Landscape

China Banking-as-a-Service (BaaS) Market Size, Share, Size & Forecast by different segment

Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region

China Banking-as-a-Service (BaaS) Market Segmentation - A detailed analysis by Product

Competitive Landscape - Profiles of selected key players by region from a strategic perspective

Competitive landscape - Market Leaders, Market Followers, Regional player

Competitive benchmarking of key players by region

PESTLE Analysis

PORTER's analysis

Value chain and supply chain analysis

Legal Aspects of business by region

Lucrative business opportunities with SWOT analysis

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About Stellar Market Research:

Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. Firm research on many topics like Healthcare, Pharmaceuticals, Electronics and communications, Chemical and Material, Food and Beverages, Aerospace, and defense, and other sectors. The company provide numerous services i.e. consultancy, Market Intelligence, Syndicate Research etc. to help executives in any organization and consumers achieve their mission-critical goals.

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