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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.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
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
Lucintel 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: Lucintel 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, Lucintel 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?
For any questions related to Open Banking Market, Open Banking Market Size, Open Banking Market Growth, Open Banking Market Analysis, Open Banking Market Report, Open Banking Market Share, Open Banking Market Trends, Open Banking Market Forecast, Open Banking Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Open Banking Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Open Banking Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Open Banking Market by Services
3.3.1: Banking & Capital Markets
3.3.2: Payments
3.3.3: Digital Currencies
3.3.4: Value Added Services
3.4: Global Open Banking Market by Deployment
3.4.1: Cloud
3.4.2: On-premise
3.5: Global Open Banking Market by Distribution Channel
3.5.1: Bank Channels
3.5.2: App Markets
3.5.3: Distributors
3.5.4: Aggregators
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Open Banking Market by Region
4.2: North American Open Banking Market
4.2.3: North American Open Banking Market by Distribution Channel : Bank Channels, App Markets, Distributors, and Aggregators
4.3: European Open Banking Market
4.3.1: European Open Banking Market by Services: Banking & Capital Markets, Payments, Digital Currencies, and Value Added Services
4.3.3: European Open Banking Market by Distribution Channel : Bank Channels, App Markets, Distributors, and Aggregators
4.4: APAC Open Banking Market
4.4.1: APAC Open Banking Market by Services: Banking & Capital Markets, Payments, Digital Currencies, and Value Added Services
4.4.3: APAC Open Banking Market by Distribution Channel : Bank Channels, App Markets, Distributors, and Aggregators
4.5: ROW Open Banking Market
4.5.1: ROW Open Banking Market by Services: Banking & Capital Markets, Payments, Digital Currencies, and Value Added Services
4.5.3: ROW Open Banking Market by Distribution Channel : Bank Channels, App Markets, Distributors, and Aggregators
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Open Banking Market by Services
6.1.2: Growth Opportunities for the Global Open Banking Market by Deployment
6.1.3: Growth Opportunities for the Global Open Banking Market by Distribution Channel
6.1.4: Growth Opportunities for the Global Open Banking Market by Region
6.2: Emerging Trends in the Global Open Banking Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Open Banking Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Open Banking Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Bannco Bilbao Vizcaya
7.2: Crédit Agricole
7.3: DemystData
7.4: Finleap connect
7.5: Finastra
7.6: FormFree Holdings
7.7: Jack Henry & Associates
7.8: Mambu
7.9: MineralTree
7.10: NCR
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's 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 this 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 Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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