(MENAFN- GlobeNewsWire - Nasdaq)
Portland, OR, June 23, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Europe open banking market stood at a revenue of $6.14 billion in 2020, and is predicted to reach 48.30 billion by 2030, witnessing a CAGR of 23.18% from 2021 to 2030. The report provides a detailed analysis of the changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in internet usage for making payments brought in by the introduction of new payment methods in European nations, greater use of ecommerce, enhanced internet connectivity, and the rise in the adoption of big data analytics are the main driving forces behind the Europe open banking market. However, increase in data breaches and cyber-attacks in the banking industry impede the growth of the market. On the contrary, improved decision-making for customers due to open banking and technological advancements in the banking industry are expected to provide potential opportunities for expansion of the industry.
Download Sample Report (Get Detailed Analysis in PDF – 150+ Pages):
COVID-19 scenario:
- The Covid-19 pandemic had a positive impact on the Europe open banking market due to increased adoption of online and digitalized payment methods among consumers. Consumers got acquainted with new types of banking services and their benefits, which in turn, augmented the market growth.
- Initiatives taken by governing bodies across European nations to curb the spread of the virus by bringing several policies for conducting banking processes also promoted the market growth.
The report offers a detailed segmentation of the Europe open banking market based on financial service, distribution channel, application, and region.
Based on financial service, the banking & capital markets segment held the lion's share, grabbing nearly half of the total market in 2020, and is predicted to continue its dominance through 2030. However, the value added services segment is likely to exhibit the fastest CAGR of 28.2% during the forecast period.
Interested to Procure the Data? Inquire Here:
By distribution channel, the app market segment captured the largest market share of around two-fifths of the global market in 2020. On the other hand, the aggregators segment is anticipated to grow at the highest CAGR of 28.2% through 2030.
By country, the UK held the largest share, accounting for more than one-fourth of the global market in 2020 and is expected to lead the trail through the forecast period, However, Italy is expected to grow at the fastest CAGR of 29.7% through 2030.
Get detailed COVID-19 impact analysis on the Europe Open Banking Market @
Key players of the Europe open banking market analyzed in the research include Banco Bilbao Vizcaya Argentaria, S.A., Deposit Solutions, Finastra, Klarna Inc., Nordigen Solutions, Plaid Inc., Revolut Ltd., Tink (Visa Inc.), TrueLayer, Yapily Ltd.
Access AVENUE - A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Tags Europe Open Banking Market Digital Currencies Online Payments Financial Transactions Banking And Capital Markets Related Links
- Robotic Process Automation (RPA) in Financial Services Market
- Financial Protection Market
- Letter of Credit Confirmation Market
- Hybrid Cloud in BFSI Market
- AI in Banking Market
- India Dental Insurance Market
- Trade Finance Market
- Banking Encryption Software Market
- Employment Screening Services Market
- BFSI Crisis Management Market
- Digital Transformation in BFSI Market
- Vietnam Mobile Payment Market
- Investment Banking & Trading Services Market
- UAE Core Banking Solutions Market
- Revenue-Based Financing Market
- Core Banking Solutions Market
- Core Banking Solutions Market
- Digital Banking Platforms Market
- ATM Managed Services Market
- Open Banking Market
MENAFN23062022004107003653ID1104419128
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.