$0.00

Global Open Banking Market

Category: Technology

Report Preview

Open banking is known as a service that authorizes the digital transfer of data related to bank account of a customer. The exchange of data is carried out between banks and third party organizations. Furthermore, this account related financial information is utilized by the third party providers to design applications and services, which are provided to the customer.

Additionally, the analysis of this data also permits to design more advanced and personalized applications concentrated at improvement of the customer experience related to financial services.

Moreover, some of the open banking financial services offered in the market consists of banking and capital markets, payments, digital currencies, and value added services.

The Global Open Banking Market: Overview

The global open banking market size accounted for $9074.98 Million in 2022, and is expected to reach $52048.58 Million by 2030 registering a CAGR of 24.4%. The major factor which contribute to the growth of open banking market include increase in the number of people using new wave apps and services.

Attribute	Key Insights
Estimated Market Value (2021)	9.074USD Billion
Forecasted Market Value (2030)	52.048 USD Billion
CAGR % 2023-2028	24.4%`
Leading Region	Europe

In addition, rise in customer engagement and attending banking customers need boosts the growth of the open banking market. Furthermore, the rise in advantages of an open banking platform that makes beneficial to all stakeholders in the financial services industry includes consumers, businesses, Fintech, innovators, and banks.

This is an important factor that fosters the growth of the open banking market. However, an increase in events of online fraud and data insecurity is expected to restrict the open banking market growth. On the contrary, significant increase in the collaboration of financial service providers, and traditional banking with Fintech is expected to boost the growth of the open banking market.

Key Trends of Global Open Banking Market:

Increase in adoption of mobile devices

The key factor which is fueling the market growth of Open Banking Market include rise in the number of people who are using new services and apps is augmenting the market growth. In addition, increase in engagement of customer and attending banking need of customers quickly thrust the market growth in Open Banking Market. Also, a significant rise in benefits of a platform for Open Banking Market which makes beneficial to all stakeholders in the industry for financial services includes businesses, Fintech, innovators, consumers, and banks. This is a major factor that supports the growth of the Open Banking Market.

Enhanced customer services

Strong backed up government regulations, enhanced overall customer engagement with the help of open banking APIs, and rise in adoption of new applications and services drive the growth of the global open banking market. However, lack of awareness regarding data security and management of threats regarding security restrain the market growth. On the other hand, increase in collaboration activities between banks and Fintech firms present new opportunities in the coming years.

Segmental Analysis of Global Open Banking Market

Based on Service

Transactional Services
Communicative Services
Information Services

Based on Financial Services

Digital Currencies
Payments
Banking and Capital Markets
Value Added Services

Financial services, banking and capital markets occupied the largest market share. The growth of the segment is attributable to surge in use of online platforms for making payments. Furthermore, the other factors that contribute to the growth of the market include the surge in the accessibility of internet across the globe.

Based on Distribution Channel

Bank Channel
App Market
Distributors
Aggregators

The application market segment occupied the largest open banking market, owing to increase in adoption of new applications, which help customers to make purchases related to product and services.

Based on Deployment Type

On-cloud
On-premises
Hybrid

Geographical analysis of Global Open Banking Market

The market is segmented into three major regions as follows; North America, Europe, Asia-pacific. Where in North America holds the largest market share and is expected to continue this trend, amid the anticipated quick adoption of advanced technologies and presence of majority of key players. Moreover, robust innovation in the banking sector, is another major reason that contributes toward the growth of this market.

Competitive Landscape

Tink, Cross River Bank, TrueLayer, Cashfree Payments, Plaid, Solarisbank, Railsbank, Yapily, MX, Minna Technologies, Cloudentity, Acorns, Affirm, American Express, Aspiration, Azlo, Zeta, BBVA Open Platform Inc., Credit Agricole, DemystData , Finastra, Figo, Jack Henry & Associates, FormFree, Mambu, NCR Corporation, Mineral Tree Inc. and Others

Scope of the report:

Base Year- 2022
Historical Year- 2019-2021
Forecast Year- 2023-2030
CAGR- 24.4%
USD Value in 2022- $9074.98 Million
USD Value in 2030- $52048.58 Million
Segments Covered- Distribution Channel, Services, Financial Services, Deployment Type and Region.

Regions Covered-

North America (US, Canada, Mexico)
Europe (UK, Germany, Netherlands, Spain)

• Asia-pacific (China, Singapore, Australia and Hong-Kong)”

Global Open Banking Market Introduction and Market Overview
- Objectives of the Study
- Global Open Banking Market Scope and Market Estimation
  - Global Open Banking Overall Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast (2019-2032)
  - Global Open Banking Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2032
- Market Segmentation
  - Service of Global Open Banking Market
  - Financial Services of Global Open Banking Market
  - Deployment Type of Global Open Banking Market
  - Distribution Channel of Global Open Banking Market
  - Region of Global Open Banking Market

Executive Summary
Market Factor Analysis
- Global Open Banking Market Industry Trends under COVID-19 Outbreak
  - Global COVID-19 Status Overview
  - Influence of COVID-19 Outbreak on Global Open Banking Market Industry Development
- Market Dynamics, By Region
  - Drivers
  - Limitations
  - Opportunities
  - Impact Analysis of Drivers and Restraints
- Global Open Banking Market – Pricing Trends Analysis & Average Selling Prices (ASPs)
- End-User / Customer Preferences & Consumer Surveys
- Technology Roadmap & Key Innovations /Developments
- Key Mandates & Regulatory Scenario Analysis
- Patents Landscape
- Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
- Porter’s Five Forces Analysis
  - Bargaining Power of Suppliers
  - Bargaining Power of Buyers
  - Threat of Substitutes
  - Threat of New Entrants
  - Competitive Rivalry
- PEST Analysis
  - Political Factors
  - Economic Factors
  - Social Factors
  - Technological Factors
- SWOT Analysis
- ANSOFF Matrix
  - Market Penetration Strategy
  - Product Development Strategy
  - Market Development Strategy
  - Diversification Strategy
- Market Investment Feasibility Analysis
- Opportunity Map Analysis
- Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Regions
Global Open Banking Market Estimates & Historical Trend Analysis (2019 – 2022)
Global Open Banking Market Estimates & Forecast Trend Analysis, by Service
- Global Open Banking Market Revenue (US$ Mn) Estimates and Forecasts, by Service, 2019 to 2032
  - Transactional Services
  - Communicative Services
  - Information Services

Global Open Banking Market Estimates & Forecast Trend Analysis, by Financial Service
- Global Open Banking Market Revenue (US$ Mn) Estimates and Forecasts, by Financial Service, 2019 to 2032
- Digital Currencies
- Payments
- Banking and Capital Markets
- Value Added Services
Global Open Banking Market Estimates & Forecast Trend Analysis, by Distribution Channel
- Global Open Banking Market Revenue (US$ Mn) Estimates and Forecasts, by Distribution Channel, 2019 to 2032
  - Bank Channel
  - App Market
  - Distributors
  - Aggregators

Global Open Banking Market Estimates & Forecast Trend Analysis, by Deployment
- Global Open Banking Market Revenue (US$ Mn) Estimates and Forecasts, by Deployment, 2019 to 2032
  - On-cloud
  - On-premises
  - Hybrid

Global Open Banking Market Estimates & Forecast Trend Analysis, by Region
- Global Open Banking Market Revenue (US$ Mn) Estimates and Forecasts, by Region, 2019 to 2032
  - North America
  - Europe
  - Asia Pacific
  - Middle East & Africa
  - South America

North America Open Banking Market: Estimates & Forecast Trend Analysis
- North America Open Banking Market Assessments & Key Findings
  - Open Banking Market Introduction
  - Open Banking Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
    - By Services
    - By Financial Services
    - By Distribution Channel
    - By Deployment
    - By Country
      - The U.S.
      - Canada
      - Mexico

Europe Open Banking Market: Estimates & Forecast Trend Analysis
- Europe Open Banking Market Assessments & Key Findings
  - Open Banking Market Introduction
  - Open Banking Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
    - By Services
    - By Financial Services
    - By Distribution Channel
    - By Deployment
    - By Country
      - Germany
      - K.
      - France
      - Italy
      - Spain
      - Russia
      - Rest of Europe

Asia Pacific Open Banking Market: Estimates & Forecast Trend Analysis
- Asia Pacific Market Assessments & Key Findings
  - Open Banking Market Introduction
  - Open Banking Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
    - By Services
    - By Financial Services
    - By Distribution Channel
    - By Deployment
    - By Country
      - China
      - Japan
      - India
      - Australia
      - South Korea
      - ASEAN
      - Rest of Asia Pacific

Middle East & Africa Open Banking Market: Estimates & Forecast Trend Analysis
- Middle East & Africa Market Assessments & Key Findings
  - Open Banking Market Introduction
  - Open Banking Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
    - By Services
    - By Financial Services
    - By Distribution Channel
    - By Deployment
    - By Country
      - A.E.
      - Saudi Arabia
      - Egypt
      - South Africa
      - Rest of Middle East & Africa

South America Open Banking Market: Estimates & Forecast Trend Analysis
- South America Market Assessments & Key Findings
  - Open Banking Market Introduction
  - Open Banking Market Size Estimates and Forecast (US$ Million) (2019 – 2031)
    - By Services
    - By Financial Services
    - By Distribution Channel
    - By Deployment
    - By Country
      - Brazil
      - Argentina
      - Colombia
      - Rest of South America

Competition Landscape
- Open Banking Market Competition Index, By Leading Players
- Open Banking Market Competition White Space Analysis, By Application / End-user
- Open Banking Market Competition Heat Map Analysis, By Products / Services / Solutions
- Open Banking Market Competition Regional Intensity Map Analysis, By Geographies Served
- Open Banking Market Concentration & Company Market Shares (%) Analysis, 2022
- Open Banking Market Competition Quadrant Analysis, By Leading Players / Innovators / Emerging Players / New Entrants
Company Profiles
- Bannco Bilbao Vizcaya Argentaria, S.A.
  - Company Overview & Key Stats
  - Financial Performance & KPIs
  - Product / Service / Solutions Portfolio & Applications / End-uses
  - Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below

Crédit Agricole
DemystData, Ltd.
Finleap connect
Finastra
FormFree Holdings Corporation
Jack Henry & Associates, Inc.
Mambu
MineralTree, Inc.
NCR Corporation
Others

Research Methodology
- External Sources / Databases
- Internal Proprietary Database
- Primary Research
- Secondary Research
- Assumptions
- Limitations
- Report FAQs
Research Findings & Conclusion

Quick Contact

+13217109863

info@markettreeresearch.com

Global Open Banking Market

Report Preview

ToC

Related products

Global Forestry Software Market

Global B2B Legal Services Market

Healthcare BPO Market

Global Smart Meter Market