Published Date: 30-Sep-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Open Banking Market size is expected to reach $75.7 billion by 2028, rising at a market growth of 24.7% CAGR during the forecast period.
The Cloud market is showcasing a CAGR of 25.2% during (2022 - 2028). Cloud deployment services enable the bank to gather an unparalleled amount of consumer data, evaluate it, and offer tailored services where they are required. Cloud computing also offers the highest levels of security.
The App Markets market has acquired the maximum revenue share in the Global Open Banking Market by Distribution Channel in 2021, thereby, achieving a market value of $27.7 billion by 2028. The spread of cellphones all over the world as a result of modernization is responsible for the domination. The segment is anticipated to develop as a result of the increasing use of mobile applications for a variety of tasks, including the buying and selling of goods and services.
The Payments market has shown the high growth rate of 25% during (2022 - 2028). Increased internet use all over the world and a rise in the use of different online payment platforms are two components that are bolstering the expansion of this segment. These advancements provide banks with the chance to work with or partner with such platform providers to acquire a competitive edge and boost their market position.
The Europe market dominated the Global Open Banking Market by Region in 2021, thereby, achieving a market value of $26 billion by 2028. The North America market is estimated to witness a CAGR of 24.4% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 25.6% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/open-banking-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Banco Bilbao Vizcaya Argentaria SA, Finastra Group Holdings Limited, NCR Corporation, Crédit Agricole CIB, Demyst Data, Ltd., Finleap connect GmbH, FormFree Holdings Corporation, Jack Henry & Associates, Inc., Mambu B.V, and MineralTree, Inc.
By Distribution Channel
Unique Offerings from KBV Research