Open Banking API Market was valued at USD 7.2 Billion in 2022 and is projected to reach USD 43.15 Billion by 2030, growing at a CAGR of 25.4% from 2024 to 2030.
Throughout this period, the market has seen various trends emerging. For instance, the adoption of open banking in Europe, where financial institutions have been forced to open their APIs for third-party access, has accelerated the growth of new banking models. Meanwhile, in North America, the Open Banking API market has been relatively slower to develop, but recent changes in the regulatory landscape, such as the introduction of the Consumer Financial Protection Bureau (CFPB) guidelines, have spurred interest from both banks and fintech companies alike.
The demand for Open Banking APIs has not only been fueled by regulatory pressures but also by the growing need for personalized financial solutions. APIs allow for the seamless integration of diverse financial services, ranging from budgeting tools to lending platforms, giving consumers more control over their financial well-being. With the increasing availability of data and the rise of artificial intelligence, the ability to offer hyper-personalized financial services has never been more achievable.
Looking ahead, the period from 2023 to 2033 is expected to see even more significant growth in the Open Banking API market. Demand for open banking solutions will surge as more countries introduce regulatory frameworks and as consumers demand enhanced digital banking experiences. By 2025, it is projected that over 70% of financial institutions will have embraced open banking initiatives, leading to increased competition and innovation in the industry.
As the market grows, APIs will continue to evolve. Financial institutions will adopt newer, more secure protocols for data sharing and begin leveraging APIs to create value-added services such as real-time payments, wealth management, and advanced fraud detection systems. Furthermore, blockchain technology is anticipated to play a crucial role in ensuring the security and transparency of data shared through APIs.
The key players in the Open Banking API market will need to collaborate with fintech companies to drive innovation. Startups are likely to be at the forefront of new technological advancements, while established financial institutions will seek to partner with them to bring innovative solutions to market faster.
Get an In-Depth Research Analysis of the Global Open Banking API Market Size And Forecast [2025-2032]
The Open Banking API market has experienced significant growth from 2018 to 2022, driven by advancements in financial technology, regulatory changes, and the increasing demand for consumer-centric financial services. By enabling third-party providers to access financial data with user consent, Open Banking has revolutionized the way consumers interact with their financial institutions. In the past few years, the implementation of open banking regulations, such as PSD2 in the EU and similar mandates in the UK and other regions, has further accelerated market growth, allowing fintechs to offer innovative products and services.
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Mastercard
Salt Edge
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TrueLayer
Plaid
Token
Tink
Bud Financial
Yapily
Klarna
Impress Solutions
Trovata
Basiq
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Open Banking API Market
Consumer
Enterprise
Financial Institution
Based on Types the Market is categorized into Below types that held the largest Open Banking API market share In 2023.
Payment Initiation Sevice API
Account Information Service API
Others
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Open Banking API Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Open Banking API Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Open Banking API Market, By Type
6. Global Open Banking API Market, By Application
7. Global Open Banking API Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Open Banking API Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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