Press release
Open Banking Market in Europe Forecasted to Exceed $48.3 Billion by 2030, Anticipating a 23.18% CAGR
Open banking is a type of financial service that involves electronic sharing of financial data. In addition, application programming interfaces (APIs) are used by open banking services to ensure the transfer movement of financial data. Moreover, financial data is sent between banks and third-party service providers. An open API protects customers' private data such as transaction history and patterns collected by third-party service providers, while allowing simple access to publicly available data, such as a bank's product offerings. As a result, the financial data obtained for a client is used to build more complex apps targeted at improving the user experience when using financial services.According to the report published by Allied Market Research, the Europe open banking market stood at a revenue of $6.14 billion in 2020, and is predicted to reach 48.30 billion by 2030, witnessing a CAGR of 23.18% from 2021 to 2030. The report provides a detailed analysis of the changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
๐น๐๐๐๐๐๐ ๐บ๐๐๐๐๐ ๐ช๐๐๐ ๐๐ ๐น๐๐๐๐๐- https://www.alliedmarketresearch.com/request-sample/16388
Rise in internet usage for making payments brought in by the introduction of new payment methods in European nations, greater use of ecommerce, enhanced internet connectivity, and the rise in the adoption of big data analytics are the main driving forces behind the Europe open banking market. However, increase in data breaches and cyber-attacks in the banking industry impede the growth of the market. On the contrary, improved decision-making for customers due to open banking and technological advancements in the banking industry are expected to provide potential opportunities for expansion of the industry.
COVID-19 scenario:
The Covid-19 pandemic had a positive impact on the Europe open banking market due to increased adoption of online and digitalized payment methods among consumers.
Consumers got acquainted with new types of banking services and their benefits, which in turn, augmented the market growth.
Initiatives taken by governing bodies across European nations to curb the spread of the virus by bringing several policies for conducting banking processes also promoted the market growth.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐จ๐ฎ๐ซ ๐๐ฏ๐๐ซ๐ฒ ๐๐จ๐ฎ๐๐ญ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/purchase-enquiry/16388
The report offers a detailed segmentation of the Europe open banking market based on financial service, distribution channel, application, and region.
Based on financial service, the banking & capital markets segment held the lion's share, grabbing nearly half of the total market in 2020, and is predicted to continue its dominance through 2030. However, the value added services segment is likely to exhibit the fastest CAGR of 28.2% during the forecast period.
By distribution channel, the app market segment captured the largest market share of around two-fifths of the global market in 2020. On the other hand, the aggregators segment is anticipated to grow at the highest CAGR of 28.2% through 2030.
By country, the UK held the largest share, accounting for more than one-fourth of the global market in 2020 and is expected to lead the trail through the forecast period, However, Italy is expected to grow at the fastest CAGR of 29.7% through 2030.
๐๐๐๐๐ฌ๐ฌ ๐๐๐๐๐๐ - ๐ ๐๐ฎ๐๐ฌ๐๐ซ๐ข๐ฉ๐ญ๐ข๐จ๐ง-๐๐๐ฌ๐๐ ๐๐ข๐๐ซ๐๐ซ๐ฒ (๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐ง-๐๐๐ฆ๐๐ง๐, ๐๐ฎ๐๐ฌ๐๐ซ๐ข๐ฉ๐ญ๐ข๐จ๐ง-๐๐๐ฌ๐๐ ๐๐ซ๐ข๐๐ข๐ง๐ ๐๐จ๐๐๐ฅ) @ https://shorturl.at/tDEF4
Key players of the Europe open banking market analyzed in the research include Banco Bilbao Vizcaya Argentaria, S.A., Deposit Solutions, Finastra, Klarna Inc., Nordigen Solutions, Plaid Inc., Revolut Ltd., Tink (Visa Inc.), TrueLayer, Yapily Ltd.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Europe open banking market forecast from 2020 to 2030 to identify the prevailing Europe open banking market opportunity.
The market research is offered along with information related to key drivers, restraints, and opportunities.
The 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 Europe open banking market segmentation assists to determine the prevailing market opportunities.
Major countries in Europe 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 global Europe open banking market trends, key players, market segments, application areas, and market growth strategies
Buy Now@ https://www.alliedmarketresearch.com/checkout-final/48d4c4554d06a8cff7d04cb31aabf35a
Europe Open Banking Market Report Highlights
By Financial Services:
Banking & Capital Markets
Payments
Digital Currencies
Value-added Services
By Distribution Channel:
Bank Channel
App Market
Distributors
Aggregators
By Region:
UK
Germany
France
Italy
Spain
Sweden
Netherlands
Rest of Europe
๐๐ญ๐ก๐๐ซ ๐๐จ๐ฉ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ข๐ง ๐๐๐ฆ๐ ๐๐จ๐ฆ๐๐ข๐ง -
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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