Global Open Banking Market Size study, by Services (Banking & Capital Markets, Digital Currencies), by Deployment (Cloud, On-premise), by Distribution Channel (Bank Channels, App Markets), and Regional Forecasts 2022-2032

May 2025 | 285 pages | ID: GB8538F3EE84EN
Bizwit Research & Consulting LLP

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Global Open Banking Market is valued approximately at USD 24.77 billion in 2023 and is anticipated to grow with an extraordinary compound annual growth rate of more than 27.60% over the forecast period 2024-2032. Open banking represents a paradigm shift in financial services, transforming traditional banking models by enabling third-party providers to securely access financial data through APIs. This data-sharing framework is redefining customer engagement, fostering fintech innovation, and driving hyper-personalized services. From real-time credit scoring to integrated financial dashboards, open banking is empowering consumers while enabling banks to become orchestrators in a connected financial ecosystem.

The explosive uptake of mobile banking and digital wallets, coupled with regulatory mandates such as PSD2 in Europe, is fueling the global proliferation of open banking frameworks. Financial institutions are leveraging cloud infrastructure and blockchain-based data architecture to offer seamless interoperability and robust security. Moreover, as banking becomes increasingly embedded into non-banking platforms like e-commerce and ride-sharing apps, the demand for frictionless financial services is rising sharply. Consumers now expect financial institutions to meet them where they are—whether in a banking app or a social media interface—ushering in an era of omnichannel financial connectivity.

However, the road to widespread adoption is riddled with challenges. Fragmented regulatory standards across jurisdictions, consumer data privacy concerns, and the lack of standardized API protocols can impede cross-border integration and innovation. Furthermore, the incumbent banks often face internal resistance and legacy infrastructure bottlenecks that slow down transformation. Despite this, rapid advancements in AI-based fraud detection, biometric authentication, and scalable API ecosystems are addressing these challenges head-on. These technologies are not only ensuring compliance and trust but are also creating new revenue streams through data monetization and value-added services.

From a geographical standpoint, Europe remains the front-runner, buoyed by a mature regulatory framework and early implementation of PSD2. North America is catching up, driven by tech-savvy consumers and a booming fintech landscape. Meanwhile, Asia Pacific is poised to witness the fastest growth over the forecast period, with nations like Singapore, India, and Australia championing open banking initiatives through sandboxes, pilot programs, and cross-sector collaborations. This regional diversity presents an opportunity for tailored open banking models that cater to local consumer behaviors while maintaining global interoperability.

Major market player included in this report are:
  • BBVA S.A.
  • HSBC Holdings plc
  • Barclays Bank PLC
  • JPMorgan Chase & Co.
  • Citigroup Inc.
  • Deutsche Bank AG
  • Banco Santander S.A.
  • BNP Paribas
  • Capital One Financial Corporation
  • Wells Fargo & Company
  • Societe Generale
  • Lloyds Banking Group
  • ING Group
  • Credit Agricole
  • Royal Bank of Canada
The detailed segments and sub-segment of the market are explained below:

By Services
  • Banking & Capital Markets
  • Digital Currencies
By Deployment
  • Cloud
  • On-premise
By Distribution Channel
  • Bank Channels
  • App Markets
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
Middle East & Africa
  • Saudi Arabia
  • South Africa
  • RoMEA
Years considered for the study are as follows:
  • Historical year – 2022
  • Base year – 2023
  • Forecast period – 2024 to 2032
Key Takeaways:
  • Market Estimates & Forecast for 10 years from 2022 to 2032.
  • Annualized revenues and regional level analysis for each market segment.
  • Detailed analysis of geographical landscape with Country level analysis of major regions.
  • Competitive landscape with information on major players in the market.
  • Analysis of key business strategies and recommendations on future market approach.
  • Analysis of competitive structure of the market.
  • Demand side and supply side analysis of the market.
Companies Mentioned
  • BBVA S.A.
  • HSBC Holdings plc
  • Barclays Bank PLC
  • JPMorgan Chase & Co.
  • Citigroup Inc.
  • Deutsche Bank AG
  • Banco Santander S.A.
  • BNP Paribas
  • Capital One Financial Corporation
  • Wells Fargo & Company
  • Societe Generale
  • Lloyds Banking Group
  • ING Group
  • Credit Agricole
  • Royal Bank of Canada
CHAPTER 1. GLOBAL OPEN BANKING MARKET EXECUTIVE SUMMARY

1.1. Global Open Banking Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
  1.3.1. By Services
  1.3.2. By Deployment
  1.3.3. By Distribution Channel
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

CHAPTER 2. GLOBAL OPEN BANKING MARKET DEFINITION AND RESEARCH ASSUMPTIONS

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
  2.3.1. Inclusion & Exclusion
  2.3.2. Limitations
  2.3.3. Supply Side Analysis
    2.3.3.1. Availability
    2.3.3.2. Infrastructure
    2.3.3.3. Regulatory Environment
    2.3.3.4. Market Competition
    2.3.3.5. Economic Viability (Provider’s Perspective)
  2.3.4. Demand Side Analysis
    2.3.4.1. Regulatory Frameworks
    2.3.4.2. Technological Advancements
    2.3.4.3. Environmental Considerations
    2.3.4.4. Consumer Acceptance & Trust
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

CHAPTER 3. GLOBAL OPEN BANKING MARKET DYNAMICS

3.1. Market Drivers
  3.1.1. Regulatory Mandates (e.g., PSD2)
  3.1.2. Rising Consumer Demand for Fintech Innovation
  3.1.3. Expansion of API and Cloud Ecosystems
3.2. Market Challenges
  3.2.1. Fragmented Global Regulatory Standards
  3.2.2. Data Privacy and Security Concerns
  3.2.3. Legacy Infrastructure Integration
3.3. Market Opportunities
  3.3.1. AI-Driven Fraud Detection and Personalization
  3.3.2. Blockchain-Enabled Data Integrity
  3.3.3. Value-Added Services and Data Monetization

CHAPTER 4. GLOBAL OPEN BANKING MARKET INDUSTRY ANALYSIS

4.1. Porter’s Five Forces 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 Five Forces
  4.1.7. Porter’s Impact Analysis
4.2. PESTEL Analysis
  4.2.1. Political
  4.2.2. Economic
  4.2.3. Social
  4.2.4. Technological
  4.2.5. Environmental
  4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL OPEN BANKING MARKET SIZE & FORECASTS BY SERVICES 2022-2032

5.1. Segment Dashboard
5.2. Revenue Trend Analysis by Services, 2022 & 2032 (USD Million/Billion)
  5.2.1. Banking & Capital Markets
  5.2.2. Digital Currencies

CHAPTER 6. GLOBAL OPEN BANKING MARKET SIZE & FORECASTS BY DEPLOYMENT 2022-2032

6.1. Segment Dashboard
6.2. Revenue Trend Analysis by Deployment, 2022 & 2032 (USD Million/Billion)
  6.2.1. Cloud
  6.2.2. On-premise

CHAPTER 7. GLOBAL OPEN BANKING MARKET SIZE & FORECASTS BY DISTRIBUTION CHANNEL 2022-2032

7.1. Segment Dashboard
7.2. Revenue Trend Analysis by Distribution Channel, 2022 & 2032 (USD Million/Billion)
  7.2.1. Bank Channels
  7.2.2. App Markets

CHAPTER 8. GLOBAL OPEN BANKING MARKET SIZE & FORECASTS BY REGION 2022-2032

8.1. North America
  8.1.1. U.S. Open Banking Market
    8.1.1.1. Services breakdown size & forecasts, 2022-2032
    8.1.1.2. Deployment breakdown size & forecasts, 2022-2032
  8.1.2. Canada Open Banking Market
8.2. Europe
  8.2.1. UK Open Banking Market
  8.2.2. Germany Open Banking Market
  8.2.3. France Open Banking Market
  8.2.4. Spain Open Banking Market
  8.2.5. Italy Open Banking Market
  8.2.6. Rest of Europe Open Banking Market
8.3. Asia Pacific
  8.3.1. China Open Banking Market
  8.3.2. India Open Banking Market
  8.3.3. Japan Open Banking Market
  8.3.4. Australia Open Banking Market
  8.3.5. South Korea Open Banking Market
  8.3.6. RoAPAC Open Banking Market
8.4. Latin America
  8.4.1. Brazil Open Banking Market
  8.4.2. Mexico Open Banking Market
  8.4.3. Rest of Latin America Open Banking Market
8.5. Middle East & Africa
  8.5.1. Saudi Arabia Open Banking Market
  8.5.2. South Africa Open Banking Market
  8.5.3. RoMEA Open Banking Market

CHAPTER 9. COMPETITIVE INTELLIGENCE

9.1. Key Company SWOT Analysis
  9.1.1. BBVA S.A.
  9.1.2. HSBC Holdings plc
  9.1.3. Barclays Bank PLC
9.2. Top Market Strategies
9.3. Company Profiles
  9.3.1. BBVA S.A.
    9.3.1.1. Key Information
    9.3.1.2. Overview
    9.3.1.3. Financial (Subject to Data Availability)
    9.3.1.4. Product Summary
    9.3.1.5. Market Strategies
  9.3.2. HSBC Holdings plc
  9.3.3. Barclays Bank PLC
  9.3.4. JPMorgan Chase & Co.
  9.3.5. Citigroup Inc.
  9.3.6. Deutsche Bank AG
  9.3.7. Banco Santander S.A.
  9.3.8. BNP Paribas
  9.3.9. Capital One Financial Corporation
  9.3.10. Wells Fargo & Company
  9.3.11. Societe Generale
  9.3.12. Lloyds Banking Group
  9.3.13. ING Group
  9.3.14. Credit Agricole
  9.3.15. Royal Bank of Canada

CHAPTER 10. RESEARCH PROCESS

10.1. Research Steps
  10.1.1. Data Mining
  10.1.2. Analysis
  10.1.3. Market Estimation
  10.1.4. Validation
  10.1.5. Publishing
10.2. Research Attributes

LIST OF TABLES

TABLE 1. Global Open Banking market, report scope
TABLE 2. Global Open Banking market estimates & forecasts by Region 2022-2032 (USD Million/Billion)
TABLE 3. Global Open Banking market estimates & forecasts by Services 2022-2032 (USD Million/Billion)
TABLE 4. Global Open Banking market estimates & forecasts by Deployment 2022-2032 (USD Million/Billion)
TABLE 5. Global Open Banking market estimates & forecasts by Distribution Channel 2022-2032 (USD Million/Billion)
TABLE 6. Global Open Banking market by segment, estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 7. Global Open Banking market by region, estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 8. U.S. Open Banking market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 9. Canada Open Banking market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 10. UK Open Banking market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 11. Germany Open Banking market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 12. China Open Banking market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 13. Japan Open Banking market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 14. Brazil Open Banking market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 15. U.S. Open Banking market estimates & forecasts by Services 2022-2032 (USD Million/Billion)
TABLE 16. U.S. Open Banking market estimates & forecasts by Deployment 2022-2032 (USD Million/Billion)
TABLE 17. U.S. Open Banking market estimates & forecasts by Distribution Channel 2022-2032 (USD Million/Billion)
TABLE 18. Asia Pacific Open Banking market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 19. Latin America Open Banking market estimates & forecasts, 2022-2032 (USD Million/Billion)
TABLE 20. Middle East & Africa Open Banking market estimates & forecasts, 2022-2032 (USD Million/Billion)

LIST OF FIGURES

FIG 1. Global Open Banking market, research methodology
FIG 2. Global Open Banking market, estimation techniques
FIG 3. Global Open Banking market, size estimates & forecast methods
FIG 4. Global Open Banking market, key trends 2023
FIG 5. Global Open Banking market, growth prospects 2022-2032
FIG 6. Global Open Banking market, Porter’s Five Forces model
FIG 7. Global Open Banking market, PESTEL analysis
FIG 8. Global Open Banking market, value chain analysis
FIG 9. Global Open Banking market by segment, 2022 & 2032 (USD Million/Billion)
FIG 10. Global Open Banking market by region, 2022 & 2032 (USD Million/Billion)
FIG 11. North America Open Banking market 2022 & 2032 (USD Million/Billion)
FIG 12. Europe Open Banking market 2022 & 2032 (USD Million/Billion)
FIG 13. Asia Pacific Open Banking market 2022 & 2032 (USD Million/Billion)
FIG 14. Latin America Open Banking market 2022 & 2032 (USD Million/Billion)
FIG 15. Middle East & Africa Open Banking market 2022 & 2032 (USD Million/Billion)
FIG 16. Global Open Banking market, competitive landscape (2023)
FIG 17. Global Open Banking market, thematic analysis
FIG 18. Global Open Banking market, forecast scenario comparison 2022-2032
FIG 19. Open Banking API adoption rates by region
FIG 20. Innovations in Open Banking services


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