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Global Account Aggregators Market Size, Share, Analysis: By Component: Software, Service; By Application: Banks, Financial Institutions, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Account Aggregators Market Outlook
The global account aggregators market size reached approximately USD 1.80 billion in 2023. The market is further projected to grow at a CAGR of 10.3% between 2024 and 2032, reaching a value of USD 4.42 billion by 2032.
Key Trends in the Market
An account aggregator allows an individual to digitally and securely share and access information from one financial institution to other regulated institution within the AA network. They also aid in simple and secure exchange of data between mutual fund companies, banks, and insurance agencies.
- The rising requirement for personal loans is bolstering the account aggregators market growth as under the AA network, the data is gathered from FIPs and sent to various FIUs with the help of a simple content-based approach. This eliminates the user requirement to visit multiple websites, provide physical copies of documents, and share confidential login information.
- The market expansion is also supported by increased demand for financial services, growing adoption of digital payment solutions, and rapid expansion of fintech startups. The services provide insights into customer preference and behaviour, allowing institutions to offer personalised products and services.
- Increasing emphasis on data privacy owing to rising incidences of cyber attacks on financial institutions is providing lucrative growth opportunities to the market. AA allows financial institutions to streamline their operations by reducing risk of fraud, improving customer experience, and enable faster credit approval.
Global Account Aggregators Market Analysis
On the basis of component, the market is bifurcated into software and service. Based on application, the market is classified into banks and financial institutions, among others. On the basis of region, the account aggregators market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- MX Technologies Inc.
- Mastercard International Inc.
- NeSL Asset Data Limited (NADL)
- Cookiejar Technologies Pvt. Ltd.
- Perfios Account Aggregation Services Pvt. Ltd.
- Others
Market Share by Application
Financial institutions are anticipated to account for a significant account aggregators market share in the coming years. This growth can be attributed to the expansion of the fintech startups and increasing adoption of digital payments. The increased adoption of account aggregators by financial institutions can also be attributed to their rising requirement for streamlining of operations for enhancing customer experience and supporting rapid credit approval.
Market Share by Region
The Asia Pacific is anticipated to witness significant growth over the forecast period. This growth can be attributed to the rising adoption of account aggregators in countries such as India. The rising initiatives of the government of India, including Digital India, have bolstered the adoption of online transactions and digital payments, increasing the accessibility of financial services for the masses. The transformative impact of the AA services on the banking sector is further boosting the account aggregators market demand.
Competitive Landscape
MX Technologies Inc. is a fintech company dedicated towards connecting individuals with their financial data in a manner that automates their financial experiences. The company was founded in 2010 and is headquartered in Utah, United States.
Mastercard International Inc. is a finance and insurance company that offers a wide range of services including commercial, credit, debit, contactless cards, and fraud management services, among others. The company was founded in 1966 and is headquartered in New York, United States.
NeSL Asset Data Limited (NADL) is one of the leading account aggregators that allows the individuals to view real time information for all the financial accounts. The company was founded in 2017 and is headquartered in Karnataka, India.
Other account aggregators market key players include Cookiejar Technologies Pvt. Ltd., and Perfios Account Aggregation Services Pvt. Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Account Aggregators Market Analysis
8.1 Key Industry Highlights
8.2 Global Account Aggregators Historical Market (2018-2023)
8.3 Global Account Aggregators Market Forecast (2024-2032)
8.4 Global Account Aggregators Market by Component
8.4.1 Software
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Service
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Account Aggregators Market by Application
8.5.1 Banks
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Financial Institutions
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Others
8.6 Global Account Aggregators Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Account Aggregators Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Account Aggregators Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Account Aggregators Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Account Aggregators Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Account Aggregators Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 MX Technologies Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Mastercard International Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 NeSL Asset Data Limited (NADL)
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Cookiejar Technologies Pvt. Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Perfios Account Aggregation Services Pvt. Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Account Aggregators Market: Key Industry Highlights, 2018 and 2032
2. Global Account Aggregators Historical Market: Breakup by Component (USD Billion), 2018-2023
3. Global Account Aggregators Market Forecast: Breakup by Component (USD Billion), 2024-2032
4. Global Account Aggregators Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Account Aggregators Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Account Aggregators Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Account Aggregators Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Account Aggregators Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Account Aggregators Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Account Aggregators Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Account Aggregators Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Account Aggregators Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Account Aggregators Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Account Aggregators Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Account Aggregators Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Account Aggregators Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Account Aggregators Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Account Aggregators Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 1.80 billion in 2023.
The market is projected to grow at a CAGR of 10.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 4.42 billion by 2032.
The major market drivers include rapid expansion of fintech startups and rising requirement for faster credit approval.
The key trends fuelling the growth of the market include rising requirement for personal loans and increasing emphasis on data privacy.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The applications of account aggregators include banks and financial institutions, among others.
The key players in the market are MX Technologies Inc., Mastercard International Inc., NeSL Asset Data Limited (NADL), Cookiejar Technologies Pvt. Ltd., and Perfios Account Aggregation Services Pvt. Ltd., among others.
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