PUBLISHER: Grand View Research | PRODUCT CODE: 1726350
PUBLISHER: Grand View Research | PRODUCT CODE: 1726350
Open Banking Market Size, Share & Trends Analysis Report By Services (Banking & Capital Markets, Digital Currencies), By Deployment (Cloud, On-premise), By Distribution Channel (Bank Channels, App Markets), By Region, And Segment Forecasts, 2025 - 2030
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
Chapter 3. Open Banking Market Variables, Trends, & Scope
Chapter 4. Open Banking Market: Services Estimates & Trend Analysis
Chapter 5. Open Banking Market: Deployment Estimates & Trend Analysis
Chapter 6. Open Banking Market: Distribution Channel Estimates & Trend Analysis
Chapter 7. Open Banking Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
List of Tables
- Table 1 Global open banking market size estimates & forecasts 2018 - 2030 (USD Million)
- Table 2 Global open banking market, by region 2018 - 2030 (USD Million)
- Table 3 Global open banking market, by services 2018 - 2030 (USD Million)
- Table 4 Global open banking market, by deployment 2018 - 2030 (USD Million)
- Table 5 Global open banking market, by distribution channel 2018 - 2030 (USD Million)
- Table 6 Banking & capital markets market, by region 2018 - 2030 (USD Million)
- Table 7 Payments market, by region 2018 - 2030 (USD Million)
- Table 8 Digital currencies market, by region 2018 - 2030 (USD Million)
- Table 9 Value added services market, by region 2018 - 2030 (USD Million)
- Table 10 Cloud market, by region 2018 - 2030 (USD Million)
- Table 11 On-premise market, by region 2018 - 2030 (USD Million)
- Table 12 Bank channels market, by region 2018 - 2030 (USD Million)
List of Figures
