The Worldwide API Banking Market is Projected to reach USD 131.7 Billion by 2030, at a CAGR of 24.2%

API Banking Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global API Banking Market size is expected to reach $131.7 billion by 2030, rising at a market growth of 24.2% CAGR during the forecast period.

The Service segment would witness a CAGR of 24.9% during (2023 - 2030). This results from the expanding demand for open banking, a focus on digital transformation, the emergence of FinTech ecosystems, and the enhancement of consumer experience. In addition, the service segment emphasizes regulatory compliance and security considerations. Service providers implement security audits, API access controls, and encryption mechanisms to safeguard data privacy and prevent unauthorized access.

The On-premise segment acquired maximum revenue in the Global API Banking Market by Deployment in 2022; thereby, achieving a market value of $78.3 billion by 2030. Compared to cloud-based alternatives, it provides greater customization options and flexibility. Banks can customize the solution to suit their unique needs and incorporate it seamlessly with their current infrastructure, legacy systems, and internal procedures.

The Small & Medium-sized Enterprises segment would register a CAGR of 24.9% during (2023 - 2030). API banking gives small businesses access to various financial services without requiring in-house development. This access enables them to provide their consumers with a broader range of services, thereby enhancing their value proposition. Small businesses can avoid the high costs of developing and maintaining complex financial systems by integrating with third-party APIs.

The North America region dominated the Global API Banking Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $47.2 billion by 2030. The Europe market is poised to grow at a CAGR of 23.4% during (2023 - 2030). Additionally, The Asia Pacific market would witness a CAGR of 25.3% during (2023 - 2030).

Full Report: https://www.kbvresearch.com/api-banking-market/

The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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

Global API Banking Market Segmentation

By Component

• Solution
• Service

By Deployment

• On-premise
• Cloud

By Enterprise Size

• Large Enterprises
• Small & Medium-sized Enterprises

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Companies Profiled

• 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.

Related Reports:

North America API Banking Market Size & Forecast to 2030

• July-2023
• 107 Pages

LAMEA API Banking Market Size, Share & Forecast, 2023-2030

• July-2023
• 118 Pages

Europe API Banking Market Size, Share & Forecast to 2030

• July-2023
• 117 Pages

Asia Pacific API Banking Market Size, Share & Analysis, 2030

• July-2023
• 118 Pages