Press release
Global Open Banking Market to Reach $123.7 Billion by 2032
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It serves as a valuable source of information for major players, entrepreneurs, shareholders, and stakeholders, enabling them to develop new strategies and improve their market position. The report provides an in-depth quantitative analysis of the market from 2022 to 2031, assisting investors in making informed decisions regarding investments in this rapidly evolving industry.
Key participants in the global open banking market examined in the research include Banco Bilbao Vizcaya Argentaria, S.A., Crédit Agricole Group, Deposit Solutions, Finestra, Jack Henry & Associates, Inc., Nordigen Solutions, Revolut Ltd., Societe Generale S.A., Tink AB, and Yapily Ltd.
The report offers detailed segmentation of the global open banking market based on financial services, distribution channel, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures through which consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.
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In terms of financial services, the banking & capital markets segment was the largest in 2020, accounting for nearly half of the overall share of the global open banking market. Moreover, the Payments segment is predicted to dominate the overall market growth in 2031. However, the value-added services segment is set to record the highest CAGR of 27.2% from 2022 to 2031. The report also analysis other segments including Digital Currencies.
On basis of the distribution channel, the app market segment held the largest share in 2020, contributing to two-fifths of the overall open banking market share. Moreover, this segment is predicted to account for the highest market share in 2031. Furthermore, the Distributors segment is also anticipated to record the fastest CAGR of 25.9% during the forecast timeframe. The report also includes bank channel and aggregators.
Based on region, Europe contributed toward the highest market share in 2020, accounting for more than two-fifths of the global open banking market share. Furthermore, the Asia-Pacific region is set to contribute majorly toward the global market share in 2031. In addition, the region is predicted to register the fastest CAGR of 27.0% during the forecast timespan. The research also analyzes regions including LAMEA and North America.
The report evaluates these major players in the global open banking industry. These players have executed a gamut of major business strategies such as the expansion of regional and customer bases, new product launches, strategic alliances, and joint ventures for expanding product lines across global markets. The market research report supports the performance monitoring of each segment, positioning of each product in respective segments, and the impact of new technology and product innovations on the overall market size.
Key Benefits for Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the open banking market analysis from 2020 to 2031 to identify the prevailing open banking market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the open banking market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as open banking market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
Financial Services
Banking & Capital Markets
Payments
Digital Currencies
Value Added Services
Distribution Channel
Bank Channel
App market
Distributors
Aggregators
By Region
North America (U.S., Canada)
Europe (United Kingdom, Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin Amercia, Middle East, Africa)
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RPA and Hyperautomation in Banking Market : https://www.alliedmarketresearch.com/rpa-and-hyperautomation-in-banking-market-A31697
Commercial Banking Market : https://www.alliedmarketresearch.com/commercial-banking-market-A06184
Core Banking Solutions Market : https://www.alliedmarketresearch.com/core-banking-solutions-market-A08726
Voice Banking Market : https://www.alliedmarketresearch.com/voice-banking-market-A31730
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