PUBLISHER: IMARC | PRODUCT CODE: 1702085
PUBLISHER: IMARC | PRODUCT CODE: 1702085
Open Banking Market Report by Services, Deployment, Distribution Channel, and Region 2025-2033
The global open banking market size reached USD 30.0 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 127.7 Billion by 2033, exhibiting a growth rate (CAGR) of 16.59% during 2025-2033. The market is primarily driven by rising fintech investment, regulatory initiatives promoting financial data sharing, the escalating customer demand for customized banking services, and a rapid shift to digital banking that calls for more transparency and collaboration between banks and third parties needed to promote innovation and offer customer-centric financial solutions.
Open banking involves the practice of sharing financial information electronically with third-party or independent financial service providers. The solution provides access to consumer banking information, such as transactions and payment history, from financial institutions using application programming interfaces (APIs). The technology delivers a secure network to share financial information between parties, making it easier for consumers to compare the details of accounts and other banking services. Open banking helps small businesses save time through online accounting and assists fraud detection companies in monitoring customer accounts and identifying problems. It also offers improved customer experience, new revenue streams, and a sustainable service model.
Open Banking Market Trends:
The increasing need for more flexible and worthy investment options across the globe is creating a positive outlook for the market. In line with this, the widespread utilization of new wave applications and services is acting as another growth-inducing factor. Open banking offers access to better banking services and innovative and personalized financial products. Additionally, the increasing adoption of new applications and services that help customers attain consolidated details of accounts from various financial service providers is favoring the market growth. Apart from this, the integration of big data analytics in open banking to collect, process, and analyze structured and unstructured data is providing a thrust to the market growth. Moreover, the utilization of artificial intelligence (AI) and the Internet of Things (IoT) to manage financial crime risk and control financial objectives, funds, and data, is propelling the market growth. Furthermore, the increasing demand for open banking across the value chain of the financial services industry, including consumers, businesses, Fintech companies, banks, and financial institutions, to provide more customized and relevant product offerings to customers is positively influencing the market growth. Other factors, including changing consumer preferences, the implementation of various government initiatives to mandatorily open APIs, and significant growth in the banking, financial services, and insurance (BFSI) industry, are supporting the market growth.
Key Market Segmentation:
Breakup by Services:
- Banking and Capital Markets
- Payments
- Digital Currencies
- Value Added Services
Breakup by Deployment:
- Cloud-based
- On-premises
Breakup by Distribution Channel:
- Bank Channels
- App Markets
- Distributors
- Aggregators
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Banco Bilbao Vizcaya Argentaria S.A., Clarity Group Inc., Credit Agricole (SAS Rue La Boetie), Finastra (Misys International Limited), Finleap connect, Jack Henry & Associates Inc, Mambu, NCR Corporation, Nordigen Solution, Revolut Ltd, Riskonnect Inc. and Societe Generale.
Key Questions Answered in This Report
- 1.What was the size of the global open banking market in 2024?
- 2.What is the expected growth rate of the global open banking market during 2025-2033?
- 3.What are the key factors driving the global open banking market?
- 4.What has been the impact of COVID-19 on the global open banking market?
- 5.What is the breakup of the global open banking market based on the services?
- 6.What is the breakup of the global open banking market based on deployment?
- 7.What is the breakup of the global open banking market based on the distribution channel?
- 8.What are the key regions in the global open banking market?
- 9.Who are the key players/companies in the global open banking market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Open Banking Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Services
- 6.1 Banking and Capital Markets
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Payments
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Digital Currencies
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Value Added Services
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Deployment
- 7.1 Cloud-based
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 On-premises
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Distribution Channel
- 8.1 Bank Channels
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 App Markets
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Distributors
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Aggregators
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Banco Bilbao Vizcaya Argentaria S.A.
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Clarity Group Inc.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Credit Agricole (SAS Rue La Boetie)
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Finastra (Misys International Limited)
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 SWOT Analysis
- 14.3.5 Finleap connect
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 Jack Henry & Associates Inc
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Mambu
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 NCR Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Nordigen Solution
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Revolut Ltd
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 Riskonnect Inc.
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Societe Generale
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.1 Banco Bilbao Vizcaya Argentaria S.A.
List of Figures
- Figure 1: Global: Open Banking Market: Major Drivers and Challenges
- Figure 2: Global: Open Banking Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Open Banking Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 4: Global: Open Banking Market: Breakup by Services (in %), 2024
- Figure 5: Global: Open Banking Market: Breakup by Deployment (in %), 2024
- Figure 6: Global: Open Banking Market: Breakup by Distribution Channel (in %), 2024
- Figure 7: Global: Open Banking Market: Breakup by Region (in %), 2024
- Figure 8: Global: Open Banking (Banking and Capital Markets) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 9: Global: Open Banking (Banking and Capital Markets) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 10: Global: Open Banking (Payments) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 11: Global: Open Banking (Payments) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 12: Global: Open Banking (Digital Currencies) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 13: Global: Open Banking (Digital Currencies) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 14: Global: Open Banking (Value Added Services) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: Open Banking (Value Added Services) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: Open Banking (Cloud-based) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: Open Banking (Cloud-based) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: Open Banking (On-premises) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: Open Banking (On-premises) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: Open Banking (Bank Channels) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: Open Banking (Bank Channels) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: Open Banking (App Markets) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: Open Banking (App Markets) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: Open Banking (Distributors) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: Open Banking (Distributors) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: Global: Open Banking (Aggregators) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: Global: Open Banking (Aggregators) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: North America: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: North America: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: United States: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: United States: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: Canada: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: Canada: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: Asia-Pacific: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: Asia-Pacific: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: China: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: China: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: Japan: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: Japan: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: India: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: India: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: South Korea: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: South Korea: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: Australia: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: Australia: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: Indonesia: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: Indonesia: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: Others: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: Others: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: Europe: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: Europe: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: Germany: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: Germany: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: France: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: France: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: United Kingdom: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: United Kingdom: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: Italy: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: Italy: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: Spain: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: Spain: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: Russia: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: Russia: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: Others: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: Others: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: Latin America: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: Latin America: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Brazil: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Brazil: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Mexico: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Mexico: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Others: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Others: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 74: Middle East and Africa: Open Banking Market: Sales Value (in Million USD), 2019 & 2024
- Figure 75: Middle East and Africa: Open Banking Market: Breakup by Country (in %), 2024
- Figure 76: Middle East and Africa: Open Banking Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 77: Global: Open Banking Industry: SWOT Analysis
- Figure 78: Global: Open Banking Industry: Value Chain Analysis
- Figure 79: Global: Open Banking Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Open Banking Market: Key Industry Highlights, 2024 and 2033
- Table 2: Global: Open Banking Market Forecast: Breakup by Services (in Million USD), 2025-2033
- Table 3: Global: Open Banking Market Forecast: Breakup by Deployment (in Million USD), 2025-2033
- Table 4: Global: Open Banking Market Forecast: Breakup by Distribution Channel (in Million USD), 2025-2033
- Table 5: Global: Open Banking Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 6: Global: Open Banking Market: Competitive Structure
- Table 7: Global: Open Banking Market: Key Players
