The global Open Banking market is one of the fastest-growing markets in the world. The following report contains all the statistics and facts & figures related to the global Open Banking market. Their business strategies, sales data, projections, and a host of other important data have been covered for an in-depth outlook. The report also has PEST analysis, SWOT analysis, risk analysis, and regional analysis. BBVA Open Platform Inc., Credit Agricole Group, DemystData Ltd., Figo GmbH, Finastra, FormFree Holdings Corporation, Jack Henry & Associates Inc., Mambu GmbH and more - all the leading companies operating in the global Open Banking market and their business strategies have been profiled in this research report.
Global Open Banking Market is valued at approximately USD 9,045 million in 2019 and is anticipated to grow with a healthy growth rate of more than 24% over the forecast period 2020-2027. Open banking is a financial service term that considers as a part of financial technology, which allows the transfer of digital data associated with the customer’s bank account. The data is usually exchanged between the banks and third-party organizations. Further, the account has financial information which is primarily used by the third-party providers to develop applications and services, which can then offer to the account holder (i.e. customer). Also, the analysis of this financial data allows to create more personalized and advanced applications aimed at the enhancement of the customer experience associated with financial services. Some of the open banking financial services offered in the market includes banking and capital markets, payments, and digital currencies, etc. Therefore, these factors are anticipated to accelerate market growth around the world. Moreover, the increasing usage of mobile banking services in the developed & developing countries, along with the rising concern towards customer engagement and attending banking customer needs are few other factors responsible for the market growth over the forecast period. According to the Reserve Bank of India (RBI), mobile banking services observed a growth of 92% and 13% in volume and value terms respectively, although the number of registered customers increased to 54% with 251 million in March 2018 from 163 million in -March 2017. Similarly, as per the U.S. Federal Reserve, the digital banking users in the United States have increased from 26% to 51% between 2012 and 2017. This, in turn, is expected to accelerate the demand for Open Banking around the world. Recently, the COVID-19 is widely spread throughout the world, thus various regional governments are putting temporary restrictions on the movement of people, goods, and services to prevent the spread of novel coronavirus. This is likely to strengthen the usage of open banking financial services due to it provides financial information without visiting banks, and often can reduce operating costs with an increase in customer experience during the renewal process, claims, and other services, Therefore, the market would grow significantly in the forthcoming year. However, data security & privacy concern are the major factors impeding the market growth over the forecast period of 2020-2027.
The regional analysis of the global Open Banking market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing adoption of advanced banking technologies, along with the presence of new technology-based vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in the number of banks, along with the high investment in open application programming interface (API) management platform would create lucrative growth prospects for the Open Banking market across the Asia-Pacific region.
Major market player included in this report are:
BBVA Open Platform Inc.
Credit Agricole Group
DemystData Ltd.
Figo GmbH
Finastra
FormFree Holdings Corporation
Jack Henry & Associates, Inc.
Mambu GmbH
MineralTree Inc.
NCR Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Financial Services:
Banking & Capital Markets
Payments
Digital Currencies
Value Added Services
By Distribution Channel:
Event Management and Scheduling
Bank Channel
App market
Distributors
Aggregators
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Open Banking Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
The market research report paints a clear picture of the global Open Banking market by providing you with qualitative research and quantitative research based on which you can assess the market to make entry into the market, make investments, or make reports & presentations. Get in touch with Market Research Port for the most competitively priced report on the global Open Banking market.
Chapter 1.Executive Summary
1.1.Market Snapshot
1.2.Global & Segmental Market Estimates & Forecasts, 2018-2027 (USD Million)
1.2.1.Open Banking Market, by Region, 2018-2027 (USD Million)
1.2.2.Open Banking Market, by Financial Services, 2018-2027 (USD Million)
1.2.3.Open Banking Market, by Distribution Channel, 2018-2027 (USD Million)
1.3.Key Trends
1.4.Estimation Methodology
1.5.Research Assumption
Chapter 2.Global Open Banking Market Definition and Scope
2.1.Objective of the Study
2.2.Market Definition & Scope
2.2.1.Scope of the Study
2.2.2.Industry Evolution
2.3.Years Considered for the Study
2.4.Currency Conversion Rates
Chapter 3.Global Open Banking Market Dynamics
3.1.Open Banking Market Impact Analysis (2018-2027)
3.1.1.Market Drivers
3.1.2.Market Challenges
3.1.3.Market Opportunities
Chapter 4.Global Open Banking Market Industry Analysis
4.1.Porter’s 5 Force Model
4.1.1.Bargaining Power of Suppliers
4.1.2.Bargaining Power of Buyers
4.1.3.Threat of New Entrants
4.1.4.Threat of Substitutes
4.1.5.Competitive Rivalry
4.1.6.Futuristic Approach to Porter’s 5 Force Model (2017-2027)
4.2.PEST Analysis
4.2.1.Political
4.2.2.Economical
4.2.3.Social
4.2.4.Technological
4.3.Investment Adoption Model
4.4.Analyst Recommendation & Conclusion
Chapter 5.Global Open Banking Market, by Financial Services
5.1.Market Snapshot
5.2.Global Open Banking Market by Financial Services, Performance - Potential Analysis
5.3.Global Open Banking Market Estimates & Forecasts by Financial Services 2017-2027 (USD Million)
5.4.Open Banking Market, Sub Segment Analysis
5.4.1.Banking & Capital Markets
5.4.2.Payments
5.4.3.Digital Currencies
5.4.4.Value Added Services
Chapter 6.Global Open Banking Market, by Distribution Channel
6.1.Market Snapshot
6.2.Global Open Banking Market by Distribution Channel, Performance - Potential Analysis
6.3.Global Open Banking Market Estimates & Forecasts by Distribution Channel 2017-2027 (USD Million)
6.4.Open Banking Market, Sub Segment Analysis
6.4.1.Event Management and Scheduling
6.4.2.Bank Channel
6.4.3.App market
6.4.4.Distributors
6.4.5.Aggregators
Chapter 7.Global Open Banking Market, Regional Analysis
7.1.Open Banking Market, Regional Market Snapshot
7.2.North America Open Banking Market
7.2.1.U.S. Open Banking Market
7.2.1.1.Financial Services breakdown estimates & forecasts, 2017-2027
7.2.1.2.Distribution Channel breakdown estimates & forecasts, 2017-2027
7.2.2.Canada Open Banking Market
7.3.Europe Open Banking Market Snapshot
7.3.1.U.K. Open Banking Market
7.3.2.Germany Open Banking Market
7.3.3.France Open Banking Market
7.3.4.Spain Open Banking Market
7.3.5.Italy Open Banking Market
7.3.6.Rest of Europe Open Banking Market
7.4.Asia-Pacific Open Banking Market Snapshot
7.4.1.China Open Banking Market
7.4.2.India Open Banking Market
7.4.3.Japan Open Banking Market
7.4.4.Australia Open Banking Market
7.4.5.South Korea Open Banking Market
7.4.6.Rest of Asia Pacific Open Banking Market
7.5.Latin America Open Banking Market Snapshot
7.5.1.Brazil Open Banking Market
7.5.2.Mexico Open Banking Market
7.6.Rest of The World Open Banking Market
Chapter 8.Competitive Intelligence
8.1.Top Market Strategies
8.2.Company Profiles
8.2.1.BBVA Open Platform Inc.
8.2.1.1.Key Information
8.2.1.2.Overview
8.2.1.3.Financial (Subject to Data Availability)
8.2.1.4.Product Summary
8.2.1.5.Recent Developments
8.2.2.Credit Agricole Group
8.2.3.DemystData Ltd.
8.2.4.Figo GmbH
8.2.5.Finastra
8.2.6.FormFree Holdings Corporation
8.2.7.Jack Henry & Associates, Inc.
8.2.8.Mambu GmbH
8.2.9.MineralTree Inc.
8.2.10.NCR Corporation
Chapter 9.Research Process
9.1.Research Process
9.1.1.Data Mining
9.1.2.Analysis
9.1.3.Market Estimation
9.1.4.Validation
9.1.5.Publishing
9.2.Research Attributes
9.3.Research Assumption
