Open Banking Market 2024-2028
The open banking market is forecasted to grow by USD 57657.4 mn during 2023-2028, accelerating at a CAGR of 27.2% during the forecast period. The report on the open banking market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increased demand for fast and seamless payments, high credit and lending requirements, and adoption of pay-by-bank methods of transaction.
Technavio's open banking market is segmented as below:
- By Service
- Banking and capital markets
- Payments
- Digital currencies
- By Deployment
- On premise
- Cloud
- By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the integration of ai into open banking services as one of the prime reasons driving the open banking market growth during the next few years. Also, strategic partnerships and introduction of risk signals in open banking technology will lead to sizable demand in the market.
The report on the open banking market covers the following areas:
- Open Banking Market sizing
- Open Banking Market forecast
- Open Banking Market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading open banking market vendors that include Airwallex, American Express Co., Australia and New Zealand Banking Group Ltd, Banco Bilbao Vizcaya Argentaria SA, Bank of Ireland, Caixa Geral de Depósitos SA, Citigroup Inc., Credit Agricole SA, Finastra, HSBC Holdings Plc, ING Groep NV, Jack Henry and Associates Inc, Mambu BV, Nationwide Mutual Insurance Co., NCR Voyix Corp., Qwist GmbH, Revolut Ltd., Royal Bank of Scotland plc, Societe Generale SA, and Wise Payments Ltd.. Also, the open banking market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.