MarkNtel Advisors recently published a detailed industry analysis of the Global Open Banking Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Global Open Banking Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Open Banking Market size was valued at around USD 31.54 billion in 2024 and is projected to reach USD 136.13 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 27.60 % during the forecast period, i.e., 2025-30.
Key Findings in Global Open Banking Market:
- Historical Analysis: 2020–2023
- Base Year: 2024
- Forecast Period: 2025–2030
Leading Market Players- Finleap, Revolut Ltd., Tink AB, Salesforce Inc., Worldline S.A., Tata Consultancy Services Limited, Capgemini, Oracle, Finicity (Mastercard), Jack Henry & Associates, Inc., Finastra, Payments, Virtusa Corp, Plaid Inc, etc, and others
Key Highlights of the Report
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the Global Open Banking industry?
Surging Government Support to Augment the Market Growth – In an era of globalization, governments worldwide recognize the significance of fostering connections between their financial institutions & consumers and their international counterparts. This has led countries like the UK, Mexico, and the US to actively endorse the adoption of open banking services, simplifying cross-border financial transactions & enriching global trade relationships. Moreover, over the past decade, North American and European nations have taken a proactive stance in democratizing access to financial products & services.
Notably, the European Banking Authority introduced the Payment Services Directive Two (PSD2) in 2015, formally inaugurating the era of open banking. Subsequently, the UK's Competition and Markets Authority (CMA) issued progressive guidelines mandating banks to embrace open banking practices by 2018. These regulatory mandates compel banks to open up their closely held financial data to third-party providers, an initiative that has encouraged a growing number of entities to participate, further driving the Global Open Banking Market.
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What segments define the Global Open Banking Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?
By Service
- Retail Banking
- Aggregation & Financial Management - Market Size & Forecast 2020-2030F, USD Billion
- Credit Risk Decisioning- Market Size & Forecast 2020-2030F, USD Billion
- Payments- Market Size & Forecast 2020-2030F, USD Billion
- Origination & Onboarding- Market Size & Forecast 2020-2030F, USD Billion
- Others
- Corporate Banking
- Corporate Treasury- Market Size & Forecast 2020-2030F, USD Billion
- Financial Management- Market Size & Forecast 2020-2030F, USD Billion
- Credit Decisioning- Market Size & Forecast 2020-2030F, USD Billion
- Payments- Market Size & Forecast 2020-2030F, USD Billion
- Value Added Services- Market Size & Forecast 2020-2030F, USD Billion
- Others
- Capital Markets
- Others
According to report, Payments, a segment under Corporate Banking & Retail Banking, is gaining momentum across the Open Banking Market, seizing a substantial share in the years to come.
By Distribution Channel
- Bank Channel- Market Size & Forecast 2020-2030F, USD Billion
- App Market- Market Size & Forecast 2020-2030F, USD Billion
- Distributors- Market Size & Forecast 2020-2030F, USD Billion
- Aggregators- Market Size & Forecast 2020-2030F, USD Billion
By Deployment
- On-premise- Market Size & Forecast 2020-2030F, USD Billion
- Cloud- Market Size & Forecast 2020-2030F, USD Billion
- Hybrid- Market Size & Forecast 2020-2030F, USD Billion
According to report, Cloud-based deployment has showcased a steady growth rate by financial institutions across the globe.
Explore the Complete Global Open Banking Market Analysis Report – https://www.marknteladvisors.com/research-library/open-banking-market.html
Geographical Analysis: Global Open Banking Market
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Global Open Banking Market Recent Development:
- 2024: Paysend formed a partnership with Tink, an open banking platform and Visa solution provider, to strengthen and speed up money transfers powered by open banking. Through the integration of Tink’s advanced open banking technology, Paysend now allows customers, especially within the EU, to verify and fund international transfers directly from their bank accounts. This removes the need for manual data input or complex security procedures, offering a faster, smoother, and more secure payment process while minimizing errors and the risk of fraud.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the Open Banking Market?
- How is the Open Banking Market expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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