The North America API Banking Market would witness market growth of 22.8% CAGR during the forecast period (2023-2030).
The market is driven by the rising demand for personalized and convenient banking services, the emergence of fintech businesses, regulatory support for open banking, and the requirement for efficient data sharing and integration. Innovations in technology, such as cloud computing and mobile devices, contribute to expanding the market. Possibilities exist in creating innovative API solutions, collaboration, growth in emerging economies, and incorporation of emerging technologies. The market dynamics are influenced by the ongoing development of the financial industry and a growing focus on digital transformation and customer-centric services.
By utilizing API, banks can integrate their systems with various applications, such as mobile banking apps, management tools, personal finance, and FinTech services. This integration permits a seamless and convenient user experience, which increases consumer satisfaction and loyalty. However, regulatory compliance and security concerns pose significant obstacles to expanding the market. In contrast, technological advancements like cloud computing, artificial intelligence (AI), and big data analytics have been instrumental in propelling the development of the market. In addition, shifting customer preferences and expectations are anticipated to create lucrative prospects for the market.
Numerous people access their bank accounts through mobile browsers or smartphones. As smartphone adoption increases, more individuals will use digital banking in the near future, increasing the requirement for a platform solution among banks. In addition, technologically advanced nations in the region, such as the United States, have greatly simplified the digital transformation of financial services. As Internet banking becomes more prevalent, the demand for enhanced customer services to enhance the customer experience increases, creating growth potential for the market in North America.
The US market dominated the North America API Banking Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $33,834.3 million by 2030. The Canada market is experiencing a CAGR of 25.5% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 24.4% during (2023 - 2030).
Based on Component, the market is segmented into Solution and Service. Based on Deployment, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide API Banking Market is Projected to reach USD 131.7 Billion by 2030, at a CAGR of 24.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC (Alphabet Inc.), BankProv (PROVIDENT BANCORP, INC.), TIBCO (The Information Bus Company) Software. Inc., FidyPay (Jambopay Express Pvt Ltd), Oracle Corporation, Razorpay Software Private Limited, Infosys Limited, IBM Corporation, SAP SE and Salesforce, Inc
Scope of the Study
Market Segments Covered in the Report:
By Component
By Deployment
By Enterprise Size
- Large Enterprises
- Small & Medium-sized Enterprises
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Google LLC (Alphabet Inc.)
- BankProv (PROVIDENT BANCORP, INC.)
- TIBCO (The Information Bus Company) Software. Inc.
- FidyPay (Jambopay Express Pvt Ltd)
- Oracle Corporation
- Razorpay Software Private Limited
- Infosys Limited
- IBM Corporation
- SAP SE
- Salesforce, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America API Banking Market, by Component
1.4.2 North America API Banking Market, by Deployment
1.4.3 North America API Banking Market, by Enterprise Size
1.4.4 North America API Banking Market, by Country
1.5 Methodology for the research
Chapter 2. Market at a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
Chapter 4. Competition Analysis - Global
4.1 KBV Cardinal Matrix
4.2 Recent Industry Wide Strategic Developments
4.2.1 Partnerships, Collaborations and Agreements
4.2.2 Product Launches and Product Expansions
4.2.3 Acquisition and Mergers
4.2.4 Trials and Approvals:
4.3 Market Share Analysis, 2022
4.4 Top Winning Strategies
4.4.1 Key Leading Strategies: Percentage Distribution (2019-2023)
4.4.2 Key Strategic Move: (Product Launches and Product Expansions: 2021, Feb – 2023, Feb) Leading Players
4.5 Porter’s Five Forces Analysis
Chapter 5. North America API Banking Market by Component
5.1 North America Solution Market by Country
5.2 North America Service Market by Country
Chapter 6. North America API Banking Market by Deployment
6.1 North America On-premise Market by Country
6.2 North America Cloud Market by Country
Chapter 7. North America API Banking Market by Enterprise Size
7.1 North America Large Enterprises Market by Country
7.2 North America Small & Medium-sized Enterprises Market by Country
Chapter 8. North America API Banking Market by Country
8.1 US API Banking Market
8.1.1 US API Banking Market by Component
8.1.2 US API Banking Market by Deployment
8.1.3 US API Banking Market by Enterprise Size
8.2 Canada API Banking Market
8.2.1 Canada API Banking Market by Component
8.2.2 Canada API Banking Market by Deployment
8.2.3 Canada API Banking Market by Enterprise Size
8.3 Mexico API Banking Market
8.3.1 Mexico API Banking Market by Component
8.3.2 Mexico API Banking Market by Deployment
8.3.3 Mexico API Banking Market by Enterprise Size
8.4 Rest of North America API Banking Market
8.4.1 Rest of North America API Banking Market by Component
8.4.2 Rest of North America API Banking Market by Deployment
8.4.3 Rest of North America API Banking Market by Enterprise Size
Chapter 9. Company Profiles
9.1 BankProv (Provident Bancorp, Inc.)
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Recent strategies and developments:
9.1.3.1 Partnerships, Collaborations, and Agreements:
9.1.4 SWOT Analysis
9.2 Razorpay Software Private Limited
9.2.1 Company Overview
9.2.2 Recent strategies and developments:
9.2.2.1 Product Launches and Product Expansions:
9.2.2.2 Acquisition and Mergers:
9.2.2.3 Trials and Approvals:
9.2.3 SWOT Analysis
9.3 Jambopay Express Pvt Ltd
9.3.1 Company Overview
9.3.2 Recent strategies and developments:
9.3.2.1 Partnerships, Collaborations, and Agreements:
9.4 Google LLC (Alphabet Inc.)
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent strategies and developments:
9.4.5.1 Product Launches and Product Expansions:
9.4.6 SWOT Analysis
9.5 Tibco Software, Inc. (Vista Equity Partners)
9.5.1 Company Overview
9.6 Oracle Corporation
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental and Regional Analysis
9.6.4 Research & Development Expense
9.6.5 Recent strategies and developments:
9.6.5.1 Product Launches and Product Expansions:
9.6.6 SWOT Analysis
9.7 Infosys Limited
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Segmental and Regional Analysis
9.7.4 Research & Development Expense
9.7.5 Recent strategies and developments:
9.7.5.1 Acquisition and Mergers:
9.7.6 SWOT Analysis
9.8 IBM Corporation
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.8.4 Research & Development Expenses
9.8.5 Recent strategies and developments:
9.8.5.1 Partnerships, Collaborations, and Agreements:
9.8.5.2 Product Launches and Product Expansions:
9.8.6 SWOT Analysis
9.9 SAP SE
9.9.1 Company Overview
9.9.2 Financial Analysis
9.9.3 Segmental and Regional Analysis
9.9.4 Research & Development Expense
9.9.5 SWOT Analysis
9.10. Salesforce, Inc.
9.10.1 Company Overview
9.10.2 Financial Analysis
9.10.3 Regional Analysis
9.10.4 Research & Development Expense
TABLE 1 North America API Banking Market, 2019 - 2022, USD Million
TABLE 2 North America API Banking Market, 2023 - 2030, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– API Banking Market
TABLE 4 Product Launches And Product Expansions– API Banking Market
TABLE 5 Acquisition and Mergers– API Banking Market
TABLE 6 Trials and Approvals – API Banking Market
TABLE 7 North America API Banking Market by Component, 2019 - 2022, USD Million
TABLE 8 North America API Banking Market by Component, 2023 - 2030, USD Million
TABLE 9 North America Solution Market by Country, 2019 - 2022, USD Million
TABLE 10 North America Solution Market by Country, 2023 - 2030, USD Million
TABLE 11 North America Service Market by Country, 2019 - 2022, USD Million
TABLE 12 North America Service Market by Country, 2023 - 2030, USD Million
TABLE 13 North America API Banking Market by Deployment, 2019 - 2022, USD Million
TABLE 14 North America API Banking Market by Deployment, 2023 - 2030, USD Million
TABLE 15 North America On-premise Market by Country, 2019 - 2022, USD Million
TABLE 16 North America On-premise Market by Country, 2023 - 2030, USD Million
TABLE 17 North America Cloud Market by Country, 2019 - 2022, USD Million
TABLE 18 North America Cloud Market by Country, 2023 - 2030, USD Million
TABLE 19 North America API Banking Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 20 North America API Banking Market by Enterprise Size, 2023 - 2030, USD Million
TABLE 21 North America Large Enterprises Market by Country, 2019 - 2022, USD Million
TABLE 22 North America Large Enterprises Market by Country, 2023 - 2030, USD Million
TABLE 23 North America Small & Medium-sized Enterprises Market by Country, 2019 - 2022, USD Million
TABLE 24 North America Small & Medium-sized Enterprises Market by Country, 2023 - 2030, USD Million
TABLE 25 North America API Banking Market by Country, 2019 - 2022, USD Million
TABLE 26 North America API Banking Market by Country, 2023 - 2030, USD Million
TABLE 27 US API Banking Market, 2019 - 2022, USD Million
TABLE 28 US API Banking Market, 2023 - 2030, USD Million
TABLE 29 US API Banking Market by Component, 2019 - 2022, USD Million
TABLE 30 US API Banking Market by Component, 2023 - 2030, USD Million
TABLE 31 US API Banking Market by Deployment, 2019 - 2022, USD Million
TABLE 32 US API Banking Market by Deployment, 2023 - 2030, USD Million
TABLE 33 US API Banking Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 34 US API Banking Market by Enterprise Size, 2023 - 2030, USD Million
TABLE 35 Canada API Banking Market, 2019 - 2022, USD Million
TABLE 36 Canada API Banking Market, 2023 - 2030, USD Million
TABLE 37 Canada API Banking Market by Component, 2019 - 2022, USD Million
TABLE 38 Canada API Banking Market by Component, 2023 - 2030, USD Million
TABLE 39 Canada API Banking Market by Deployment, 2019 - 2022, USD Million
TABLE 40 Canada API Banking Market by Deployment, 2023 - 2030, USD Million
TABLE 41 Canada API Banking Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 42 Canada API Banking Market by Enterprise Size, 2023 - 2030, USD Million
TABLE 43 Mexico API Banking Market, 2019 - 2022, USD Million
TABLE 44 Mexico API Banking Market, 2023 - 2030, USD Million
TABLE 45 Mexico API Banking Market by Component, 2019 - 2022, USD Million
TABLE 46 Mexico API Banking Market by Component, 2023 - 2030, USD Million
TABLE 47 Mexico API Banking Market by Deployment, 2019 - 2022, USD Million
TABLE 48 Mexico API Banking Market by Deployment, 2023 - 2030, USD Million
TABLE 49 Mexico API Banking Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 50 Mexico API Banking Market by Enterprise Size, 2023 - 2030, USD Million
TABLE 51 Rest of North America API Banking Market, 2019 - 2022, USD Million
TABLE 52 Rest of North America API Banking Market, 2023 - 2030, USD Million
TABLE 53 Rest of North America API Banking Market by Component, 2019 - 2022, USD Million
TABLE 54 Rest of North America API Banking Market by Component, 2023 - 2030, USD Million
TABLE 55 Rest of North America API Banking Market by Deployment, 2019 - 2022, USD Million
TABLE 56 Rest of North America API Banking Market by Deployment, 2023 - 2030, USD Million
TABLE 57 Rest of North America API Banking Market by Enterprise Size, 2019 - 2022, USD Million
TABLE 58 Rest of North America API Banking Market by Enterprise Size, 2023 - 2030, USD Million
TABLE 59 Key Information – BankProv
TABLE 60 Key Information – Razorpay Software Private Limited
TABLE 61 Key Information – Jambopay Express Pvt Ltd
TABLE 62 Key Information – Google LLC
TABLE 63 Key Information – Tibco Software, Inc.
TABLE 64 Key Information – Oracle Corporation
TABLE 65 Key Information – Infosys Limited
TABLE 66 Key Information – IBM Corporation
TABLE 67 Key Information – SAP SE
TABLE 68 Key Information – Salesforce, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America API Banking Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting API Banking Market
FIG 4 KBV Cardinal Matrix
FIG 5 Market Share Analysis, 2022
FIG 6 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 7 Key Strategic Move: (Product Launches and Product Expansions : 2021, Feb – 2023, Feb) Leading Players
FIG 8 Porter’s Five Forces Analysis - API Banking Market
FIG 9 North America API Banking Market share by Component, 2022
FIG 10 North America API Banking Market share by Component, 2030
FIG 11 North America API Banking Market by Component, 2019 - 2030, USD Million
FIG 12 North America API Banking Market share by Deployment, 2022
FIG 13 North America API Banking Market share by Deployment, 2030
FIG 14 North America API Banking Market by Deployment, 2019 - 2030, USD Million
FIG 15 North America API Banking Market share by Enterprise Size, 2022
FIG 16 North America API Banking Market share by Enterprise Size, 2030
FIG 17 North America API Banking Market by Enterprise Size, 2019 - 2030, USD Million
FIG 18 North America API Banking Market share by Country, 2022
FIG 19 North America API Banking Market share by Country, 2030
FIG 20 North America API Banking Market by Country, 2019 - 2030, USD Million
FIG 21 SWOT Analysis: BankProv
FIG 22 Recent strategies and developments: Razorpay Software Private Limited
FIG 23 SWOT Analysis: Razorpay Software Private Limited
FIG 24 SWOT Analysis: Google LLC. (Alphabet Inc)
FIG 25 SWOT Analysis: Oracle Corporation
FIG 26 SWOT Analysis: Infosys Limited
FIG 27 Recent strategies and developments: IBM corporation
FIG 28 Swot Analysis: IBM Corporation
FIG 29 SWOT Analysis: SAP SE
FIG 30 SWOT Analysis: Salesforce.com, Inc.