Global Open Banking Market Report (2022 to 2030) - Featuring Banco Bilbao Vizcaya Argentaria, Credit Agricole and Finastra Among Others

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Sep 28, 2022, 08:15 ET

DUBLIN, Sept. 28, 2022 /PRNewswire/ -- The "Open Banking Market Size, Share & Trend Analysis Report by Services, by Deployment, by Distribution Channel, by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global open banking market size is expected to reach USD 135.17 billion by 2030, growing at a CAGR of 26.9% from 2022 to 2030, according to this study conducted.

The global open banking market is expanding as a result of favorable government legislation, improved overall customer involvement made possible by open banking APIs, and an increase in the adoption of innovative applications and services. In addition, the relocation in the focus of retail banks toward consolidated technological enhancements also bodes well with the market's growth.

Key industry players are aggressively investing in offering enhanced services to their customers. For instance, in June 2022, Mastercard announced its latest open banking feature, named Pay by link, through its banking pioneer in Europe, Aiia. This feature is expected to eliminate needless payment stages for companies from any sector by developing a straightforward link that enables clients to pay instantaneously in any situation. It is closely related to Mastercard's open banking agenda, which seeks to usher in a new era of choice, convenience, and personalization in a secure manner.

Increased investment in the open banking space by prominent players is expected to drive market growth over the forecast period. For instance, Visa, Inc. purchased Tink in June 2021 for USD 2.15 billion. The acquisition is anticipated to hasten the adoption of open banking in Europe through the provision of a reliable and secure platform for innovation. As a result, consumers have more control over their finances, including money management and financial goals.

The outbreak of the COVID-19 pandemic is expected to play a vital role in driving the growth of the open banking market over the forecast period. Since the pandemic, the banking industry has been continuously evolving to improve the customer experience and ease the process of banking for consumers. In addition, the rapid adoption of digitalization is expected to create a positive outlook for the market.

Open Banking Market Report Highlights

The banking & capital markets segment dominated the market in 2021. The changing investment needs of the new age population are expected to propel segment growth. People are looking for more flexible and worthy investment options offered through advanced platforms.
The cloud segment is anticipated to witness the fastest growth owing to the increased adoption of cloud technology across the banking sector.
The app markets segment dominated the market in 2021. The segment growth can be attributed to the rising utilization of smartphones and applications for numerous purposes, such as mobile banking.
The Asia Pacific regional market is anticipated to witness the fastest growth over the forecast period. The growing technological awareness in developing countries of the region is expected to play a decisive role in driving the growth of the regional market.

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Open Banking Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Open banking market - Value Chain Analysis
3.4 Open banking market - Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Integration of big data analytics and AI
3.4.1.2 Adoption of digitalization
3.4.2 Market challenge analysis
3.4.2.1 Rising incidences of cyber crimes
3.5 Penetration and Growth Prospect Mapping
3.6 Open banking market - Porter's Five Forces Analysis
3.7 Open banking market - PESTEL Analysis

Chapter 4 Investment Landscape Analysis
4.1 Investor Strategies
4.2 Investor Vision & Goal Analysis
4.3 Funding Raised By Open Banking Providers

Chapter 5 Open Banking Services Outlook
5.1 Open banking market Share By Services, 2021
5.2 Banking & Capital Markets
5.2.1 Banking & capital markets open banking market, 2017 - 2030
5.3 Payments
5.3.1 Payments open banking market, 2017 - 2030
5.4 Digital Currencies
5.4.1 Digital currencies open banking market, 2017 - 2030
5.5 Value Added Services
5.5.1 Value added services open banking market, 2017 - 2030

Chapter 6 Open Banking Deployment Outlook
6.1 Open banking market Share By Deployment, 2021
6.2 Cloud
6.2.1 Cloud open banking market, 2017 - 2030
6.3 On-premise
6.3.1 On-premise open banking market, 2017 - 2030

Chapter 7 Open Banking Distribution Channel Outlook
7.1 Open banking market Share By Distribution Channel, 2021
7.2 Bank Channels
7.2.1 Open banking market for bank channels, 2017 - 2030
7.3 App Markets
7.3.1 Open banking market for app markets, 2017 - 2030
7.4 Distributors
7.4.1 Open banking market for distributors, 2017 - 2030
7.5 Aggregators
7.5.1 Open banking market for aggregators, 2017 - 2030

Chapter 8 Open Banking Regional Outlook

Chapter 9 Competitive Analysis
9.1 Recent Developments & Impact Analysis, By Key Market Participants
9.2 Company Categorization
9.3 Vendor Landscape
9.3.1 Key company market share analysis, 2021
9.4 Company Analysis Tools
9.4.1 Company market position analysis
9.4.2 Competitive dashboard analysis

Chapter 10 Competitive Landscape
10.1 Banco Bilbao Vizcaya Argentaria, S.A.
10.1.1 Company overview
10.1.2 Financial performance
10.1.3 Product benchmarking
10.1.4 Strategic initiatives
10.2 Credit Agricole
10.2.1 Company overview
10.2.2 Financial performance
10.2.3 Product benchmarking
10.2.4 Strategic initiatives
10.3 DemystData, Ltd.
10.3.1 Company overview
10.3.2 Financial performance
10.3.3 Product benchmarking
10.3.4 Strategic initiatives
10.4 finleap connect
10.4.1 Company overview
10.4.2 Financial performance
10.4.3 Product benchmarking
10.4.4 Strategic initiatives
10.5 Finastra
10.5.1 Company overview
10.5.2 Financial performance
10.5.3 Product benchmarking
10.5.4 Strategic initiatives
10.6 FormFree Holdings Corporation
10.6.1 Company overview
10.6.2 Financial performance
10.6.3 Product benchmarking
10.6.4 Strategic initiatives
10.7 Jack Henry & Associates, Inc
10.7.1 Company overview
10.7.2 Financial performance
10.7.3 Product benchmarking
10.7.4 Strategic initiatives
10.8 Mambu
10.8.1 Company overview
10.8.2 Financial performance
10.8.3 Product benchmarking
10.8.4 Strategic initiatives
10.9 MineralTree, Inc
10.9.1 Company overview
10.9.2 Financial performance
10.9.3 Product benchmarking
10.9.4 Strategic initiatives
10.10 NCR Corporation
10.10.1 Company overview
10.10.2 Financial performance
10.10.3 Product benchmarking
10.10.4 Strategic initiatives