Product Code: GVR-4-68039-973-7
Open Banking Market Growth & Trends:
The global open banking market size is anticipated to reach USD 135.17 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 27.6% from 2025 to 2030. The market growth can be attributed to several factors, including enhanced customer participation achieved by open banking APIs, favorable government regulations, and increased adoption of innovative services and applications. In addition, the relocation of the focus of retail banks toward consolidated technological enhancements also bodes well for the growth.
Key companies are aggressively investing in offering enhanced services to their customers. For instance, in June 2022, Mastercard announced its latest feature, named 'Pay by link,' through its European platform Aiia. This feature helps eliminate needless payment stages for companies from any sector by developing a straightforward link that enables clients to pay instantaneously in any situation. The feature stems from Mastercard's open banking initiative, which seeks to usher in a new era of choice, convenience, and personalization securely.
Increased strategic initiatives in the market by prominent companies are expected to drive market growth over the forecast period. For instance, in October 2022, Visa Inc., a financial services company, announced the completion of the acquisition of Tink platform. As a result of this acquisition, Visa, Inc. and Tink enabled their clients to offer substantial benefits to consumers, allowing them better control over their financial experiences, including managing their financial data, money, and financial goals.
The outbreak of the COVID-19 pandemic played a vital role in driving the growth of the market. Since the pandemic, the industry has been continuously evolving to improve the customer experience and ease bank-related processes for consumers. In addition, the rapid adoption of digitalization is expected to result in a positive outlook for the market.
Open Banking Market Report Highlights:
- The banking & capital markets segment accounted for the largest share of 45.7% in 2024.
- The on-premise segment held the largest market share of 51.0% in 2024. It enables easy accessibility for customers, serving their needs better.
- The app market segment dominated the industry in 2024. The dominance can be attributable to the proliferation of smartphones globally. The growing adoption of mobile applications for buying and selling products and services is expected to drive the segment's growth.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Research Methodology
- 1.2.1. Information Procurement
- 1.3. Information or Data Analysis
- 1.4. Methodology
- 1.5. Research Scope and Assumptions
- 1.6. Market Formulation & Validation
- 1.7. Country Based Segment Share Calculation
- 1.8. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Open Banking Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.2. Market Restraint Analysis
- 3.2.3. Industry Challenge
- 3.3. Open Banking Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.1.1. Bargaining power of the suppliers
- 3.3.1.2. Bargaining power of the buyers
- 3.3.1.3. Threats of substitution
- 3.3.1.4. Threats from new entrants
- 3.3.1.5. Competitive rivalry
- 3.3.2. PESTEL Analysis
- 3.3.2.1. Political landscape
- 3.3.2.2. Economic landscape
- 3.3.2.3. Social landscape
- 3.3.2.4. Technological landscape
- 3.3.2.5. Environmental landscape
- 3.3.2.6. Legal landscape
Chapter 4. Open Banking Market: Services Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Open Banking Market: Services Movement Analysis, 2024 & 2030 (USD Million)
- 4.3. Banking & Capital Markets
- 4.3.1. Banking & Capital Markets Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Payments
- 4.4.1. Payments Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Digital Currencies
- 4.5.1. Digital Currencies Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Value Added Services
- 4.6.1. Value Added Services Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Open Banking Market: Deployment Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Open Banking Market: Deployment Movement Analysis, 2024 & 2030 (USD Million)
- 5.3. Cloud
- 5.3.1. Cloud Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. On-premise
- 5.4.1. On-premise Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Open Banking Market: Distribution Channel Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Open Banking Market: Distribution Channel Movement Analysis, 2024 & 2030 (USD Million)
- 6.3. Bank Channels
- 6.3.1. Bank Channels Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4. App Markets
- 6.4.1. App Markets Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5. Distributors
- 6.5.1. Distributors Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6. Aggregators
- 6.6.1. Aggregators Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. Open Banking Market: Regional Estimates & Trend Analysis
- 7.1. Open Banking Market Share, By Region, 2024 & 2030 (USD Million)
- 7.2. North America
- 7.2.1. North America Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.2. U.S.
- 7.2.2.1. U.S. Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.3. Canada
- 7.2.3.1. Canada Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.2.4. Mexico
- 7.2.4.1. Mexico Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3. Europe
- 7.3.1. Europe Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.2. U.K.
- 7.3.2.1. U.K. Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.3. Germany
- 7.3.3.1. Germany Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.3.4. France
- 7.3.4.1. France Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.2. China
- 7.4.2.1. China Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.3. Japan
- 7.4.3.1. Japan Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.4. India
- 7.4.4.1. India Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.5. South Korea
- 7.4.5.1. South Korea Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.4.6. Australia
- 7.4.6.1. Australia Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5. Latin America
- 7.5.1. Latin America Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.5.2. Brazil
- 7.5.2.1. Brazil Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6. Middle East and Africa
- 7.6.1. Middle East and Africa Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.2. Kingdom of Bahrain
- 7.6.2.1. Kingdom of Bahrain Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.3. KSA
- 7.6.3.1. KSA Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 7.6.4. South Africa
- 7.6.4.1. South Africa Open Banking Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Company Categorization
- 8.2. Company Market Positioning
- 8.3. Company Heat Map Analysis
- 8.4. Company Profiles/Listing
- 8.4.1. Banco Bilbao Vizcaya Argentaria, S.A.
- 8.4.1.1. Participant's Overview
- 8.4.1.2. Financial Performance
- 8.4.1.3. Product Benchmarking
- 8.4.1.4. Strategic Initiatives
- 8.4.2. Credit Agricole
- 8.4.2.1. Participant's Overview
- 8.4.2.2. Financial Performance
- 8.4.2.3. Product Benchmarking
- 8.4.2.4. Strategic Initiatives
- 8.4.3. DemystData, Ltd.
- 8.4.3.1. Participant's Overview
- 8.4.3.2. Financial Performance
- 8.4.3.3. Product Benchmarking
- 8.4.3.4. Strategic Initiatives
- 8.4.4. Qwist
- 8.4.4.1. Participant's Overview
- 8.4.4.2. Financial Performance
- 8.4.4.3. Product Benchmarking
- 8.4.4.4. Strategic Initiatives
- 8.4.5. Finastra
- 8.4.5.1. Participant's Overview
- 8.4.5.2. Financial Performance
- 8.4.5.3. Product Benchmarking
- 8.4.5.4. Strategic Initiatives
- 8.4.6. FormFree Holdings Corporation
- 8.4.6.1. Participant's Overview
- 8.4.6.2. Financial Performance
- 8.4.6.3. Product Benchmarking
- 8.4.6.4. Strategic Initiatives
- 8.4.7. Jack Henry & Associates, Inc.
- 8.4.7.1. Participant's Overview
- 8.4.7.2. Financial Performance
- 8.4.7.3. Product Benchmarking
- 8.4.7.4. Strategic Initiatives
- 8.4.8. Mambu
- 8.4.8.1. Participant's Overview
- 8.4.8.2. Financial Performance
- 8.4.8.3. Product Benchmarking
- 8.4.8.4. Strategic Initiatives
- 8.4.9. MineralTree, Inc.
- 8.4.9.1. Participant's Overview
- 8.4.9.2. Financial Performance
- 8.4.9.3. Product Benchmarking
- 8.4.9.4. Strategic Initiatives
- 8.4.10. NCR Corporation
- 8.4.10.1. Participant's Overview
- 8.4.10.2. Financial Performance
- 8.4.10.3. Product Benchmarking
- 8.4.10.4. Strategic Initiatives