Global Open Banking industry forecast to reach $135 billion by 2030.
The latest report on the open banking market was released this week by ResearchAndMarket. It expects the global Open Banking market size to reach $135.17 billion over the next eight years, growing at 26.9% a year from 2022 to 2030*.
Growth is being fuelled by:
Favorable government legislation.
Improved overall customer involvement made possible by open banking APIs.
An increase in the adoption of innovative applications and services.
The app-markets segment dominated the market in 2021, said the report, due to the rising use of smartphones and applications for numerous purposes, e.g. mobile banking. The report also highlights the changing investment needs of the new age population, which seeks more flexible and worthy investment options offered through advanced platforms.
Find the full report here.
*compound annual growth rate (CAGR)