Open Banking Trends and Forecast
The future of the global open banking market looks promising with opportunities in the bank channels, app markets, distributors, and aggregators markets. The global open banking market is expected to reach an estimated $99.67 billion by 2030 with a CAGR of 25.7% from 2024 to 2030. The major drivers for this market are collaboration between financial institutions and fintech firms and application programming interfaces (APIs) being more widely used and the shifting payment landscape.
Open Banking by Segment
The study includes a forecast for the global open banking by services, deployment , distribution channel, and region.
Open Banking Market by Services [Shipment Analysis by Value from 2018 to 2030]
- Banking & Capital Markets
- Payments
- Digital Currencies
- Value Added Services
Open Banking Market by Deployment [Shipment Analysis by Value from 2018 to 2030]
- Cloud
- On-Premise
Open Banking Market by Distribution Channel [Shipment Analysis by Value from 2018 to 2030]
- Bank Channels
- App Markets
- Distributors
- Aggregators
Open Banking Market by Region [Shipment Analysis by Value from 2018 to 2030]
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Open Banking Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies open banking companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the open banking companies profiled in this report include-
- Bannco Bilbao Vizcaya
- Crédit Agricole
- DemystData
- Finleap connect
- Finastra
- FormFree Holdings
- Jack Henry & Associates
- Mambu
- MineralTree
- NCR
Open Banking Market Insights
The publisher forecasts that banking & capital will remain the largest segment over the forecast period due to increasing need for efficient money management and a shift in public attention from conventional investing strategies to cutting-edge investment solutions.
Within this market, app market will remain the largest segment due to rapidly increasing usage of mobile applications.
Europe will remain the largest region over the forecast period due to escalating need for enhancing online payment security measures within the region.
Features of the Global Open Banking Market
- Market Size Estimates: Open banking market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Open banking market size by services, deployment , distribution channel , and region in terms of value ($B).
- Regional Analysis: Open banking market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different services, deployment , distribution channel , and regions for the open banking market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the open banking market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the open banking market size?
Answer: The global open banking market is expected to reach an estimated $99.67 billion by 2030.
Q2. What is the growth forecast for open banking market?
Answer: The global open banking market is expected to grow with a CAGR of 25.7% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the open banking market?
Answer: The major drivers for this market are collaboration between financial institutions and fintech firms and application programming interfaces (APIs) being more widely used and the shifting payment landscape.
Q4. What are the major segments for open banking market?
Answer: The future of the open banking market looks promising with opportunities in the bank channels, app markets, distributors, and aggregators markets.
Q5. Who are the key open banking market companies?
Answer: Some of the key open banking companies are as follows:
- Bannco Bilbao Vizcaya
- Crédit Agricole
- DemystData
- Finleap connect
- Finastra
- FormFree Holdings
- Jack Henry & Associates
- Mambu
- MineralTree
- NCR
Q6. Which open banking market segment will be the largest in future?
Answer: The publisher forecasts that banking & capital will remain the largest segment over the forecast period due to increasing need for efficient money management and a shift in public attention from conventional investing strategies to cutting-edge investment solutions.
Q7. In open banking market, which region is expected to be the largest in next 5 years?
Answer: Europe will remain the largest region over the forecast period due to escalating need for enhancing online payment security measures within the region.
Q.8 Do we receive customization in this report?
Answer: Yes,the publisher provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the open banking market by services (banking & capital markets, payments, digital currencies, and value added services), deployment (cloud and on-premise), distribution channel (bank channels, app markets, distributors, and aggregators), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
This product will be delivered within 1-3 business days.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Bannco Bilbao Vizcaya
- Crédit Agricole
- DemystData
- Finleap connect
- Finastra
- FormFree Holdings
- Jack Henry & Associates
- Mambu
- MineralTree
- NCR
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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