Open Banking Market 2023: Size, Share, Segments, And Forecast 2032

Open Banking Market Segments

By Service Type

Transactional Services, Communicative Services, Information Services

Bank And Capital Markets, Payments, Digital Currencies, Value Added Services By Financial Services

Cloud, On-Premises, Hybrid By Deployment Type

The Business Research Company segments it’s open banking market report as: By Distribution Channel Bank Channels, App Market, Distributors, Aggregators

Market Statistics

The global open banking market size grew from $19.24 billion in 2022 to $24.26 billion in 2023 at a compound annual growth rate (CAGR) of 26.1%.

The open banking market size is expected to grow to $62.37 billion in 2027 at a CAGR of 26.6%.

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Global Open Banking Market Size Forecast To 2032

Key Market Drivers And Trends

Drivers

The surge in the use of online platforms for making payments is contributing to the growth of the open banking market.

Trends

Big data analytics is a key trend gaining popularity in the open banking market.

Region

North America was the largest region in the open banking market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in open banking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Key Market Players

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