Product Code: PM2577
The global open banking market size is expected to reach USD 128.12 billion by 2030, according to a new study by Polaris Market Research. The report "Open Banking Market Share, Size, Trends, Industry Analysis Report, By Financial services (Banking and capital markets, payments, digital currencies); By Distribution channels (Bank channels, App markets, Distributors, Aggregators); By Deployment type; By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for the industry is growing due to the increasing use of online payment platforms. Furthermore, the emergence of the system with the ever-increasing demand for various payment methods, improved broadband access, introduction to new technologies, and the amount of time spent by the consumer on the e-commerce platform are some of the key factors driving demand for the industry.
In addition, the growing awareness and benefits provided by the industry across developing economies such as India, Brazil, Mexico, South Korea, and China are likely to positively impact the demand for open banking over the coming years. In addition, increasing investments in digital banking are anticipated to provide many growth opportunities in this region.
The COVID-19 pandemic has created new opportunities for the open-banking industry due to consumer adoption and use of many applications and programming interfaces of open banking. The industry also gained momentum during the lockdown period due to technological breakthroughs.
Open Banking Market Report Highlights
With the development of an AI-based platform for online transactions and providing customer solutions, bank and capital segment is expected to drive product demand.
The app segment accounted for the highest revenue share in 2021 and is expected to continue its dominance owing to the high performance of various online platforms used for transactions as the convenience of the consumer with just a click.
The cloud segment is expected to witness faster growth over the forecast period as it is used to provide vast consumer data and offers customizable solutions to the consumer. Due to its real-time solutions, it is expected to drive the industry.
Asia Pacific is expected to grow at a CAGR over the forecast period on account of several expansions and investments for digital payments projects mandated by the government across developing nations in the region, such as India and China.
Polaris Market Research has segmented the Open Banking market report based on raw material, type, technology, end-use, and region:
Open Banking, Financial Services Outlook (Revenue - USD Billion, 2018 - 2030)
Bank and capital
Payments
Digital currencies
Value added services
Open Banking, Distribution channels Outlook (Revenue - USD Billion, 2018 - 2030)
Bank channels
App markets
Distributors
Aggregators
Open Banking, Deployment type Outlook (Revenue - USD Billion, 2018 - 2030)
Cloud
On-premise
Hybrid
Open Banking, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Open Banking Market Insights
- 4.1. Open Banking - Industry Snapshot
- 4.2. Open Banking Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Integration of big data analytics and AI
- 4.2.1.2. Adoption of digitalization
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Rising incidences of cyber crimes
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Open Banking Market Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Open Banking Market, by Financial services
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 5.3. Bank and capital markets
- 5.3.1. Global Open Banking Market, by Bank and capital markets, by Region, 2018 - 2030 (USD Billion)
- 5.4. Payments
- 5.4.1. Global Open Banking Market, by Payments, by Region, 2018 - 2030 (USD Billion)
- 5.5. Digital currencies
- 5.5.1. Global Open Banking Market, by Digital currencies, by Region, 2018 - 2030 (USD Billion)
- 5.6. Value added services
- 5.6.1. Global Open Banking Market, by Value added services, by Region, 2018 - 2030 (USD Billion)
6. Global Open Banking Market, by Distribution channels
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 6.3. Bank channels
- 6.3.1. Global Open Banking Market, by Bank channels, by Region, 2018 - 2030 (USD Billion)
- 6.4. App markets
- 6.4.1. Global Open Banking Market, by Elastomeric Pads, by Region, 2018 - 2030 (USD Billion)
- 6.5. Distributors
- 6.5.1. Global Open Banking Market, by Greases & Adhesives, by Region, 2018 - 2030 (USD Billion)
- 6.6. Aggregators
- 6.6.1. Global Open Banking Market, by Aggregators, by Region, 2018 - 2030 (USD Billion)
7. Global Open Banking Market, by Deployment type
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 7.3. Cloud
- 7.3.1. Global Open Banking Market, by Cloud, by Region, 2018 - 2030 (USD Billion)
- 7.4. On-premise
- 7.4.1. Global Open Banking Market, by On-premise, by Region, 2018 - 2030 (USD Billion)
- 7.5. Hybrid
- 7.5.1. Global Open Banking Market, by Hybrid, by Region, 2018 - 2030 (USD Billion)
8. Global Open Banking Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Open Banking Market Assessment, By Geography, 2018 - 2030 (USD Billion)
- 8.3. Open Banking Market - North America
- 8.3.1. North America: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.3.2. North America: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.3.3. North America: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.3.4. Open Banking Market - U.S.
- 8.3.4.1. U.S.: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.3.4.2. U.S.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.3.4.3. U.S.: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.3.5. Open Banking Market - Canada
- 8.3.5.1. Canada: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.3.5.2. Canada.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.3.5.3. Canada: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.4. Open Banking Market - Europe
- 8.4.1. Europe: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.4.2. Europe.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.4.3. Europe: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.4.4. Open Banking Market - UK
- 8.4.4.1. UK: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.4.4.2. UK.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.4.4.3. UK: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.4.5. Open Banking Market - France
- 8.4.5.1. France: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.4.5.2. France.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.4.5.3. France: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.4.6. Open Banking Market - Germany
- 8.4.6.1. Germany: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.4.6.2. Germany.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.4.6.3. Germany: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.4.7. Open Banking Market - Italy
- 8.4.7.1. Italy: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.4.7.2. Italy.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.4.7.3. Italy: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.4.8. Open Banking Market - Spain
- 8.4.8.1. Spain: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.4.8.2. Spain.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.4.8.3. Spain: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.4.9. Open Banking Market - Netherlands
- 8.4.9.1. Netherlands: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.4.9.2. Netherlands.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.4.9.3. Netherlands: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.4.10. Open Banking Market - Russia
- 8.4.10.1. Russia: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.4.10.2. Russia.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.4.10.3. Russia: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.5. Open Banking Market - Asia Pacific
- 8.5.1. Asia Pacific: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.5.2. Asia Pacific.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.5.3. Asia Pacific: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.5.4. Open Banking Market - China
- 8.5.4.1. China: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.5.4.2. China.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.5.4.3. China: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.5.5. Open Banking Market - India
- 8.5.5.1. India: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.5.5.2. India.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.5.5.3. India: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.5.6. Open Banking Market - Malaysia
- 8.5.6.1. Malaysia: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.5.6.2. Malaysia.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.5.6.3. Malaysia: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.5.7. Open Banking Market - Japan
- 8.5.7.1. Japan: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.5.7.2. Japan.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.5.7.3. Japan: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.5.8. Open Banking Market - Indonesia
- 8.5.8.1. Indonesia: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.5.8.2. Indonesia.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.5.8.3. Indonesia: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.5.9. Open Banking Market - South Korea
- 8.5.9.1. South Korea: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.5.9.2. South Korea.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.5.9.3. South Korea: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.6. Open Banking Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.6.2. Middle East & Africa.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.6.3. Middle East & Africa: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.6.4. Open Banking Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.6.4.3. Saudi Arabia: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.6.5. Open Banking Market - UAE
- 8.6.5.1. UAE: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.6.5.2. UAE.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.6.5.3. UAE: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.6.6. Open Banking Market - Israel
- 8.6.6.1. Israel: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.6.6.2. Israel.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.6.6.3. Israel: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.6.7. Open Banking Market - South Africa
- 8.6.7.1. South Africa: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.6.7.2. South Africa.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.6.7.3. South Africa: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.7. Open Banking Market - Latin America
- 8.7.1. Latin America: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.7.2. Latin America.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.7.3. Latin America: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.7.4. Open Banking Market - Mexico
- 8.7.4.1. Mexico: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.7.4.2. Mexico.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.7.4.3. Mexico: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.7.5. Open Banking Market - Brazil
- 8.7.5.1. Brazil: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.7.5.2. Brazil.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.7.5.3. Brazil: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
- 8.7.6. Open Banking Market - Argentina
- 8.7.6.1. Argentina: Open Banking Market, by Financial services, 2018 - 2030 (USD Billion)
- 8.7.6.2. Argentina.: Open Banking Market, by Deployment type, 2018 - 2030 (USD Billion)
- 8.7.6.3. Argentina: Open Banking Market, by Distribution channels, 2018 - 2030 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Banco Bibao Vizcaya Argentaria S.A.
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Barclays
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. BBVA Open platform Inc.
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Capital One
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Clarity Group Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Citigroup
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. Conduct Inc
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. Credit Agricole
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. DBS Bank
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. Demystdata
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. Figo GmbH
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
- 10.12. Finastra
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development
- 10.13. Formfree
- 10.13.1. Company Overview
- 10.13.2. Financial Performance
- 10.13.3. Product Benchmarking
- 10.13.4. Recent Development
- 10.14. HSBC Bank plc
- 10.14.1. Company Overview
- 10.14.2. Financial Performance
- 10.14.3. Product Benchmarking
- 10.14.4. Recent Development
- 10.15. Jack Henry & Associate Inc
- 10.15.1. Company Overview
- 10.15.2. Financial Performance
- 10.15.3. Product Benchmarking
- 10.15.4. Recent Development
- 10.16. Mambu GmbH
- 10.16.1. Company Overview
- 10.16.2. Financial Performance
- 10.16.3. Product Benchmarking
- 10.16.4. Recent Development
- 10.17. MineralTree Inc. NCR Corporation
- 10.17.1. Company Overview
- 10.17.2. Financial Performance
- 10.17.3. Product Benchmarking
- 10.17.4. Recent Development
- 10.18. Prista Corporation
- 10.18.1. Company Overview
- 10.18.2. Financial Performance
- 10.18.3. Product Benchmarking
- 10.18.4. Recent Development
- 10.19. Quantros Inc.
- 10.19.1. Company Overview
- 10.19.2. Financial Performance
- 10.19.3. Product Benchmarking
- 10.19.4. Recent Development
- 10.20. RL Datix
- 10.20.1. Company Overview
- 10.20.2. Financial Performance
- 10.20.3. Product Benchmarking
- 10.20.4. Recent Development
- 10.21. Smart gate Solutions Ltd.
- 10.21.1. Company Overview
- 10.21.2. Financial Performance
- 10.21.3. Product Benchmarking
- 10.21.4. Recent Development
- 10.22. Verge Health
- 10.22.1. Company Overview
- 10.22.2. Financial Performance
- 10.22.3. Product Benchmarking
- 10.22.4. Recent Development