The Global 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.   

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.

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Key Market Reports Highlights

·        Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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Open Banking Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2024

-Historical Period: 2020 to 2023

-Forecast Period: 2025 to 2030

• 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
• 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
• By Region
• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - 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

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