Open Banking Market Growth, Trends, Revenue, Size, Future Plans and Forecast 2030
The latest report by MarkNtel Advisors, titled “Open Banking Market” Size study report 2024-30 provides an in-depth examination of revenue growth, market definition, segmentation, industry potential, and influential trends to help comprehend the market’s future outlook and existing prospects. Open Banking Market Share, Size, and Industry Analysis. By Service (By Retail Banking, [Aggregation & Financial Management, Credit Risk Decisioning, Payments, Origination & Onboarding, Others], By Corporate Banking [Corporate Treasury, Financial Management, Credit Decisioning, Payments, Value Added Services, Others], Capital Markets, Others), By Distribution Channel (Bank Channel, App Market, Distributors, Aggregators), By Deployment (On-premise, Cloud, Hybrid), Others. The Global Open Banking Market size was valued at around USD 22.31 billion in 2023 and is estimated to grow at a CAGR of about 25.47% during the forecast period, i.e., 2024-30.
Key Highlights of the Market Report:
- Detailed overview of the market share
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Open Banking Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising market growth
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Global Open Banking Market Driver:
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.
Open Banking Market Segmentation
By Service
-Retail Banking
–Aggregation & Financial Management – Market Size & Forecast 2019-2030F, USD Million
–Credit Risk Decisioning- Market Size & Forecast 2019-2030F, USD Million
–Payments- Market Size & Forecast 2019-2030F, USD Million
–Origination & Onboarding- Market Size & Forecast 2019-2030F, USD Million
–Others
-Corporate Banking
–Corporate Treasury- Market Size & Forecast 2019-2030F, USD Million
–Financial Management- Market Size & Forecast 2019-2030F, USD Million
–Credit Decisioning- Market Size & Forecast 2019-2030F, USD Million
–Payments- Market Size & Forecast 2019-2030F, USD Million
–Value Added Services- Market Size & Forecast 2019-2030F, USD Million
–Others
-Capital Markets
-Others
By Distribution Channel
-Bank Channel- Market Size & Forecast 2019-2030F, USD Million
-App Market- Market Size & Forecast 2019-2030F, USD Million
-Distributors- Market Size & Forecast 2019-2030F, USD Million
-Aggregators- Market Size & Forecast 2019-2030F, USD Million
By Deployment
-On-premise- Market Size & Forecast 2019-2030F, USD Million
-Cloud- Market Size & Forecast 2019-2030F, USD Million
-Hybrid- Market Size & Forecast 2019-2030F, USD Million
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
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Major Key Players in Open Banking Market research report:
F5 Solutions
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financia Details
-Others
Finleap
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Revolut Ltd
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About MarkNtel Advisors
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