Global Open Banking API Market Growth (Status and Outlook) 2025-2031

Publication ID:

LPI02253972

Publication Date:

February 27, 2025

Pages:

104

Publisher:

LPI

Countries:

Global [1]

USD 3,660.00

IT Services [2]

Software [3]

Computing & Electronics [4]

Description:

The global Open Banking API market size is predicted to grow from US$ 28950 million in 2025 to US$ 70450 million in 2031; it is expected to grow at a CAGR of 16.0% from 2025 to 2031.
Open banking APIs, or application program interfaces, facilitate open banking and enable financial institutions to share financial data with one another, typically through a third-party-developed application. Banking API providers such as emerging FinTech companies and collaborators create those third-party-developed applications to improve traditional banking systems and make the digital banking industry better for everyone.
The global open banking API (application programming interface) market growth is being driven by several factors, including:
Increasing Demand for Financial Transparency and Control: Open banking APIs enable third-party providers to access customer financial data with their consent, providing consumers with greater transparency and control over their finances. This aligns with the growing demand for personalized financial services and enhanced user experiences.
Rise of Innovative Financial Products and Services: Open banking APIs facilitate the development of innovative financial products and services, such as personalized financial advice, automated savings tools, and seamless payment solutions. This fosters competition and drives innovation within the financial services industry.
Growing Adoption by Financial Institutions: Financial institutions are increasingly adopting open banking APIs to enhance customer engagement, expand their product offerings, and improve operational efficiency. This is driven by the recognition of the benefits of open banking and the potential to gain a competitive edge.
Regulatory Support and Open Banking Initiatives: Governments and regulatory bodies worldwide are supporting open banking initiatives to promote financial inclusion, increase competition, and protect consumer rights. This creates a favorable environment for the growth of the open banking API market.
Expansion of Open Banking beyond Traditional Banking: Open banking is expanding beyond traditional banking to include insurance, investment, and wealth management sectors. This broadening of scope further drives market growth and creates new opportunities for innovation.
Integration with Emerging Technologies: Open banking APIs are being integrated with emerging technologies such as artificial intelligence (AI), machine learning (ML), and blockchain, enabling the development of even more sophisticated and personalized financial solutions.
Focus on Data Security and Privacy: Data security and privacy are paramount in open banking, and providers are investing heavily in robust security measures and data governance practices to protect consumer information. This is essential to ensure consumer trust and adoption.
Standardization and Interoperability Efforts: Standardization and interoperability efforts are underway to ensure seamless data exchange and compatibility between different open banking platforms. This will further facilitate the adoption and growth of the open banking ecosystem.
Growing Demand in Emerging Markets: Open banking is gaining traction in emerging markets as economies develop and financial inclusion becomes a focus. This presents significant growth opportunities for open banking API providers.
Potential for Cross-Border Transactions: Open banking APIs can facilitate cross-border transactions, enabling consumers and businesses to make payments and manage finances seamlessly across different countries. This opens up new possibilities for international trade and financial services.
In conclusion, the open banking API market is poised for continued growth and expansion in the coming years, driven by the increasing demand for financial transparency, innovation, and regulatory support. As open banking APIs become more widely adopted and integrated with emerging technologies, they will play a transformative role in shaping the future of financial services and empowering consumers with greater control over their finances.
The 鈥淥pen Banking API Industry Forecast鈥� looks at past sales and reviews total world Open Banking API sales in 2024, providing a comprehensive analysis by region and market sector of projected Open Banking API sales for 2025 through 2031. With Open Banking API sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Open Banking API industry.
This Insight Report provides a comprehensive analysis of the global Open Banking API landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Open Banking API portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms鈥� unique position in an accelerating global Open Banking API market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Open Banking API and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Open Banking API.
This report presents a comprehensive overview, market shares, and growth opportunities of Open Banking API market by product type, application, key players and key regions and countries.
Segmentation by Type:
Payment Initiation Sevice API
Account Information Service API
Others
Segmentation by Application:
Consumer
Enterprise
Financial Institution
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Google
SAS
Mastercard
Salt Edge
Yodlee
TrueLayer
Plaid
Token
Tink
Bud Financial
Yapily
Klarna
Impress Solutions
Trovata
Basiq

Please Note - This is an on demand report and will be delivered in 2 business days (48 hours) post payment.

Table Of Contents:

1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Open Banking API Market Size (2020-2031)
2.1.2 Open Banking API Market Size CAGR by Region (2020 VS 2024 VS 2031)
2.1.3 World Current & Future Analysis for Open Banking API by Country/Region (2020, 2024 & 2031)
2.2 Open Banking API Segment by Type
2.2.1 Payment Initiation Sevice API
2.2.2 Account Information Service API
2.2.3 Others
2.3 Open Banking API Market Size by Type
2.3.1 Open Banking API Market Size CAGR by Type (2020 VS 2024 VS 2031)
2.3.2 Global Open Banking API Market Size Market Share by Type (2020-2025)
2.4 Open Banking API Segment by Application
2.4.1 Consumer
2.4.2 Enterprise
2.4.3 Financial Institution
2.5 Open Banking API Market Size by Application
2.5.1 Open Banking API Market Size CAGR by Application (2020 VS 2024 VS 2031)
2.5.2 Global Open Banking API Market Size Market Share by Application (2020-2025)
3 Open Banking API Market Size by Player
3.1 Open Banking API Market Size Market Share by Player
3.1.1 Global Open Banking API Revenue by Player (2020-2025)
3.1.2 Global Open Banking API Revenue Market Share by Player (2020-2025)
3.2 Global Open Banking API Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2023-2025)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Open Banking API by Region
4.1 Open Banking API Market Size by Region (2020-2025)
4.2 Global Open Banking API Annual Revenue by Country/Region (2020-2025)
4.3 Americas Open Banking API Market Size Growth (2020-2025)
4.4 APAC Open Banking API Market Size Growth (2020-2025)
4.5 Europe Open Banking API Market Size Growth (2020-2025)
4.6 Middle East & Africa Open Banking API Market Size Growth (2020-2025)
5 Americas
5.1 Americas Open Banking API Market Size by Country (2020-2025)
5.2 Americas Open Banking API Market Size by Type (2020-2025)
5.3 Americas Open Banking API Market Size by Application (2020-2025)
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Open Banking API Market Size by Region (2020-2025)
6.2 APAC Open Banking API Market Size by Type (2020-2025)
6.3 APAC Open Banking API Market Size by Application (2020-2025)
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
7 Europe
7.1 Europe Open Banking API Market Size by Country (2020-2025)
7.2 Europe Open Banking API Market Size by Type (2020-2025)
7.3 Europe Open Banking API Market Size by Application (2020-2025)
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Open Banking API by Region (2020-2025)
8.2 Middle East & Africa Open Banking API Market Size by Type (2020-2025)
8.3 Middle East & Africa Open Banking API Market Size by Application (2020-2025)
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Global Open Banking API Market Forecast
10.1 Global Open Banking API Forecast by Region (2026-2031)
10.1.1 Global Open Banking API Forecast by Region (2026-2031)
10.1.2 Americas Open Banking API Forecast
10.1.3 APAC Open Banking API Forecast
10.1.4 Europe Open Banking API Forecast
10.1.5 Middle East & Africa Open Banking API Forecast
10.2 Americas Open Banking API Forecast by Country (2026-2031)
10.2.1 United States Market Open Banking API Forecast
10.2.2 Canada Market Open Banking API Forecast
10.2.3 Mexico Market Open Banking API Forecast
10.2.4 Brazil Market Open Banking API Forecast
10.3 APAC Open Banking API Forecast by Region (2026-2031)
10.3.1 China Open Banking API Market Forecast
10.3.2 Japan Market Open Banking API Forecast
10.3.3 Korea Market Open Banking API Forecast
10.3.4 Southeast Asia Market Open Banking API Forecast
10.3.5 India Market Open Banking API Forecast
10.3.6 Australia Market Open Banking API Forecast
10.4 Europe Open Banking API Forecast by Country (2026-2031)
10.4.1 Germany Market Open Banking API Forecast
10.4.2 France Market Open Banking API Forecast
10.4.3 UK Market Open Banking API Forecast
10.4.4 Italy Market Open Banking API Forecast
10.4.5 Russia Market Open Banking API Forecast
10.5 Middle East & Africa Open Banking API Forecast by Region (2026-2031)
10.5.1 Egypt Market Open Banking API Forecast
10.5.2 South Africa Market Open Banking API Forecast
10.5.3 Israel Market Open Banking API Forecast
10.5.4 Turkey Market Open Banking API Forecast
10.6 Global Open Banking API Forecast by Type (2026-2031)
10.7 Global Open Banking API Forecast by Application (2026-2031)
10.7.1 GCC Countries Market Open Banking API Forecast
11 Key Players Analysis
11.1 Google
11.1.1 Google Company Information
11.1.2 Google Open Banking API Product Offered
11.1.3 Google Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.1.4 Google Main Business Overview
11.1.5 Google Latest Developments
11.2 SAS
11.2.1 SAS Company Information
11.2.2 SAS Open Banking API Product Offered
11.2.3 SAS Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.2.4 SAS Main Business Overview
11.2.5 SAS Latest Developments
11.3 Mastercard
11.3.1 Mastercard Company Information
11.3.2 Mastercard Open Banking API Product Offered
11.3.3 Mastercard Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.3.4 Mastercard Main Business Overview
11.3.5 Mastercard Latest Developments
11.4 Salt Edge
11.4.1 Salt Edge Company Information
11.4.2 Salt Edge Open Banking API Product Offered
11.4.3 Salt Edge Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.4.4 Salt Edge Main Business Overview
11.4.5 Salt Edge Latest Developments
11.5 Yodlee
11.5.1 Yodlee Company Information
11.5.2 Yodlee Open Banking API Product Offered
11.5.3 Yodlee Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.5.4 Yodlee Main Business Overview
11.5.5 Yodlee Latest Developments
11.6 TrueLayer
11.6.1 TrueLayer Company Information
11.6.2 TrueLayer Open Banking API Product Offered
11.6.3 TrueLayer Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.6.4 TrueLayer Main Business Overview
11.6.5 TrueLayer Latest Developments
11.7 Plaid
11.7.1 Plaid Company Information
11.7.2 Plaid Open Banking API Product Offered
11.7.3 Plaid Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.7.4 Plaid Main Business Overview
11.7.5 Plaid Latest Developments
11.8 Token
11.8.1 Token Company Information
11.8.2 Token Open Banking API Product Offered
11.8.3 Token Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.8.4 Token Main Business Overview
11.8.5 Token Latest Developments
11.9 Tink
11.9.1 Tink Company Information
11.9.2 Tink Open Banking API Product Offered
11.9.3 Tink Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.9.4 Tink Main Business Overview
11.9.5 Tink Latest Developments
11.10 Bud Financial
11.10.1 Bud Financial Company Information
11.10.2 Bud Financial Open Banking API Product Offered
11.10.3 Bud Financial Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.10.4 Bud Financial Main Business Overview
11.10.5 Bud Financial Latest Developments
11.11 Yapily
11.11.1 Yapily Company Information
11.11.2 Yapily Open Banking API Product Offered
11.11.3 Yapily Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.11.4 Yapily Main Business Overview
11.11.5 Yapily Latest Developments
11.12 Klarna
11.12.1 Klarna Company Information
11.12.2 Klarna Open Banking API Product Offered
11.12.3 Klarna Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.12.4 Klarna Main Business Overview
11.12.5 Klarna Latest Developments
11.13 Impress Solutions
11.13.1 Impress Solutions Company Information
11.13.2 Impress Solutions Open Banking API Product Offered
11.13.3 Impress Solutions Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.13.4 Impress Solutions Main Business Overview
11.13.5 Impress Solutions Latest Developments
11.14 Trovata
11.14.1 Trovata Company Information
11.14.2 Trovata Open Banking API Product Offered
11.14.3 Trovata Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.14.4 Trovata Main Business Overview
11.14.5 Trovata Latest Developments
11.15 Basiq
11.15.1 Basiq Company Information
11.15.2 Basiq Open Banking API Product Offered
11.15.3 Basiq Open Banking API Revenue, Gross Margin and Market Share (2020-2025)
11.15.4 Basiq Main Business Overview
11.15.5 Basiq Latest Developments
12 Research Findings and Conclusion

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