Open Banking Market Growth Drivers, Trends and Report Analysis 2025
The global open banking market size was valued at USD 26.16 billion in 2023 and is poised to grow at a significant CAGR of 23.6% during the forecast period 2024-2030. It also includes market size and projection estimations for each of the five major regions from 2024 to 2030. The research report includes historical data, trending features, and market growth estimates for the future. Furthermore, the study includes a global and regional estimation and is further split by nations and categories within each region. The research also includes factors and barriers to the open banking market growth, as well as their impact on the market's future growth. The report gives a comprehensive overview of both primary and secondary data.
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The global open banking market segmentation:
1) By Financial Services: Banking & Capital, Payments, Digital
Currencies, and Value Added Services
2) By Distribution Channel: Bank Channel, App market, Distributors, and
Aggregators
The primary factors of the open banking market drivers are
the banks and third-party suppliers connected to open banking have created
applications that assist users in obtaining consolidated account information
from many financial service providers. The open banking market report helps to
provide the best results for business enhancement and business growth. It
further helps to obtain the reactions of consumers to a novel product or
service. It becomes possible for business players to take action for changing
perceptions. It uncovers and identifies potential issues of the customers. It
becomes easy to obtain the reactions of the customers to a novel product or
service. It also enlightens further advancement, so it suits its intended
market.
The open banking market research report gives a
comprehensive outlook across the region with special emphasis on key regions
such as North America, Europe, Asia Pacific, Latin America, and the Middle East
and Africa. North America was the largest region in the open banking market
report, accounting for the highest share in 2022. It was followed by Asia
Pacific, and then the other regions.
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The important profiles and strategies adopted by the open
banking market key players are Capital One, NatWest Group plc., HSBC Bank plc.,
Banco Bilbao Vizcaya Argentaria S.A, DBS Bank, Barclays, Lloyds Banking Group,
NCR Corporation, Citigroup, Banco Santander S.A.is covered here to help them in
strengthening their place in the market.
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