Market Overview:
The global account aggregators market is expected to grow at a CAGR of over 16% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for account aggregation services by banks, financing institutions, and other end-users. Additionally, the growing need for real-time access to financial data is also propelling the growth of this market. The global account aggregators market can be segmented on the basis of type into software and service. The software segment is expected to hold a larger share of the global account aggregators market than the service segment during the forecast period from 2018 to 2030. This can be attributed to factors such as ease of use and low installation costs associated with software products.
Product Definition:
An account aggregator is a business or service that collects information from various financial institutions and provides it to the customer in one place. This can make it easier for customers to keep track of their finances and make better decisions about where to put their money. Account aggregators are important because they provide an easy way for people to see all of their financial information in one place, which can help them make more informed choices about their money.
Software:
Software is the Collection of Procedures, Systems or Tools which are used to carry out a specific task. In the case of account aggregators market, it means that software is used by these companies for collecting payment from different billing addresses and transferring them to a single billing address. The main function performed by this type of software includes customer database management and customer address book management among others.
Service:
Service is a generic term used to described work or activity performed by any person or company that provides products and/or services to another. In the account aggregators market, service generally refers to activities such as payment processing, customer support, fraud detection & prevention and risk management among others. Service can be provided in various forms such as professional service (consulting services), managed service (service portfolio management) and support & maintenance services among others.
Application Insights:
The others application segment accounted for the largest revenue share in 2017 and is expected to witness significant growth over the forecast period. Other applications include e-commerce, payment processing, risk management and compliance, research & advisory services. The global account aggregators market has witnessed tremendous growth in recent years owing to growing demand from customers desiring access to a wide range of financial products and services at low costs.
The need for automation has increased with an increase in number of transactions performed through online banking channels or mobile apps coupled with rising regulatory requirements regarding transparency & governance across banks globally. This trend is projected to drive the adoption of global account aggregator solutions over the forecast period as they offer a single point of contact that can assist customers with their queries regarding multiple accounts held by them at various banks or other financial institutions around the world.
Regional Analysis:
Asia Pacific accounted for the largest share of over 40% in 2017. The region is expected to maintain its lead throughout the forecast period owing to increasing internet penetration and technological advancements. Moreover, rising demand for mobile banking applications is also anticipated to drive regional market growth.
North America and Europe are relatively mature markets as compared to Asia Pacific and Latin America, thus, they are expected witness slower growth over the forecast period. However, steady growth in these regions can be attributed to increased adoption of online financial services by enterprises as well as consumers due their ease of use and availability at a low cost as compared to brick-and-mortar institutions such as banks or Financing Institutions (FIs).
Growth Factors:
- Increasing demand for account aggregation services from small and medium-sized businesses (SMBs) due to the growing need for cost-effective and efficient solutions to manage their finances.
- The increasing popularity of cloud-based account aggregation services, which allows users to access their financial data from any device or location with an internet connection.
- The increasing use of mobile devices for banking and financial transactions, which is driving demand for mobile account aggregation services that can provide real-time updates on financial accounts via smartphones and tablets.
- The growing trend of personal finance management (PFM) among consumers, who are looking for tools that can help them track spending, budgeting, and investment goals in one place. Account aggregators that offer PFM features are well positioned to capitalize on this trend.
Scope Of The Report
Report Attributes
Report Details
Report Title
Account Aggregators Market Research Report
By Type
Software, Service
By Application
Bank, Financing Institution, Others
By Companies
MX Technologies Inc, Finicity, Fiserv, Envestnet(Yodlee Finsoft Private Limited), Visa(Plaid), Cookiejar Technologies(Finvu), Fintech Products and Solutions India Pvt Ltd(onemoney), CAMS Financial Information Services Pvt Ltd, NESL Asset Data Limited, Perfios Account Aggregation Services Pvt. Ltd
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
225
Number of Tables & Figures
158
Customization Available
Yes, the report can be customized as per your need.
Global Account Aggregators Market Report Segments:
The global Account Aggregators market is segmented on the basis of:
Types
Software, Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Bank, Financing Institution, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- MX Technologies Inc
- Finicity
- Fiserv
- Envestnet(Yodlee Finsoft Private Limited)
- Visa(Plaid)
- Cookiejar Technologies(Finvu)
- Fintech Products and Solutions India Pvt Ltd(onemoney)
- CAMS Financial Information Services Pvt Ltd
- NESL Asset Data Limited
- Perfios Account Aggregation Services Pvt. Ltd
Highlights of The Account Aggregators Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Software
- Service
- By Application:
- Bank
- Financing Institution
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Account Aggregators Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Account aggregators are companies that help people manage their finances by consolidating their bank, credit card, and other accounts into one place. This can make it easier to track your spending and budgeting habits, as well as find deals on products and services.
Some of the key players operating in the account aggregators market are MX Technologies Inc, Finicity, Fiserv, Envestnet(Yodlee Finsoft Private Limited), Visa(Plaid), Cookiejar Technologies(Finvu), Fintech Products and Solutions India Pvt Ltd(onemoney), CAMS Financial Information Services Pvt Ltd, NESL Asset Data Limited, Perfios Account Aggregation Services Pvt. Ltd.
The account aggregators market is expected to register a CAGR of 16%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Account Aggregators Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Account Aggregators Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Account Aggregators Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Account Aggregators Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Account Aggregators Market Size & Forecast, 2018-2028
4.5.1 Account Aggregators Market Size and Y-o-Y Growth
4.5.2 Account Aggregators Market Absolute $ Opportunity
Chapter 5 Global Account Aggregators Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Account Aggregators Market Size Forecast by Type
5.2.1 Software
5.2.2 Service
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Account Aggregators Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Account Aggregators Market Size Forecast by Applications
6.2.1 Bank
6.2.2 Financing Institution
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Account Aggregators Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Account Aggregators Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Account Aggregators Analysis and Forecast
9.1 Introduction
9.2 North America Account Aggregators Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Account Aggregators Market Size Forecast by Type
9.6.1 Software
9.6.2 Service
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Account Aggregators Market Size Forecast by Applications
9.10.1 Bank
9.10.2 Financing Institution
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Account Aggregators Analysis and Forecast
10.1 Introduction
10.2 Europe Account Aggregators Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Account Aggregators Market Size Forecast by Type
10.6.1 Software
10.6.2 Service
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Account Aggregators Market Size Forecast by Applications
10.10.1 Bank
10.10.2 Financing Institution
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Account Aggregators Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Account Aggregators Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Account Aggregators Market Size Forecast by Type
11.6.1 Software
11.6.2 Service
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Account Aggregators Market Size Forecast by Applications
11.10.1 Bank
11.10.2 Financing Institution
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Account Aggregators Analysis and Forecast
12.1 Introduction
12.2 Latin America Account Aggregators Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Account Aggregators Market Size Forecast by Type
12.6.1 Software
12.6.2 Service
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Account Aggregators Market Size Forecast by Applications
12.10.1 Bank
12.10.2 Financing Institution
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Account Aggregators Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Account Aggregators Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Account Aggregators Market Size Forecast by Type
13.6.1 Software
13.6.2 Service
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Account Aggregators Market Size Forecast by Applications
13.10.1 Bank
13.10.2 Financing Institution
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Account Aggregators Market: Competitive Dashboard
14.2 Global Account Aggregators Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 MX Technologies Inc
14.3.2 Finicity
14.3.3 Fiserv
14.3.4 Envestnet(Yodlee Finsoft Private Limited)
14.3.5 Visa(Plaid)
14.3.6 Cookiejar Technologies(Finvu)
14.3.7 Fintech Products and Solutions India Pvt Ltd(onemoney)
14.3.8 CAMS Financial Information Services Pvt Ltd
14.3.9 NESL Asset Data Limited
14.3.10 Perfios Account Aggregation Services Pvt. Ltd
