Global Financial Services Market Size, Forecasts, And Opportunities
Learn about the global financial services market through The Business Research Company, which provides information on financial services market size, financial services market drivers and restraints, financial services market players, the COVID-19 impact on the financial services market, and more.
The global financial services market size is expected to grow from $23,319.52 billion in 2021 to $25,839.35 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The global financial service market size is then expected to grow to $37,343.95 billion in 2026 at a CAGR of 9.6%.
The global payments industry has witnessed a rapid increase in the adoption of EMV technology.
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The financial services market consists of sales of financial or money-related services by entities (organizations, sole traders, and partnerships) that are engaged in financial services-related activities such as lending, investment management, insurance, brokerages, payments, and fund transfer services. The financial services industry is categorized based on the business model of the firms present in the industry, and most firms offer multiple services. Revenues include fees, interest payments, commissions, or transaction charges.
Global Financial Services Market Segments Include:
By Type: Lending and Payments, Insurance, Reinsurance and Insurance Brokerage, Investments, Foreign Exchange Services
By Size of Business: Small and Medium Business, Large Business
By End-User: Individuals, Corporates, Government, Investment Institution
Subsegments Covered: Lending, Cards and Payments, Insurance, Insurance Brokers and Agents, Reinsurance, Wealth Management, Securities Brokerage and Stock Exchange Services, Investment Banking
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe was the largest region in the global financial services market in 2021.
Many wealth management companies are investing in big data analytics capabilities to generate insights around clients. Big data solutions are being implemented to deliver insights around client segments, product penetration, and analyse training program effectiveness. These technologies are being implemented to assess existing and prospective clients’ inclination to purchase various products and services being offered by a wealth management company, their lifetime value, investment pattern, and the ability of the client to take risks. They are also helping wealth management companies to track business performance, increase client acquisition and retention rates, increase sales, and offer real-time investment advice.
TBRC’s financial services market report covers:
Major Market Players: Allianz Group, Industrial and Commercial Bank of China, JPMorgan Chase & Co., Ping An Insurance, Axa Group, Anthem, Inc., Agricultural Bank Of China, China Life Insurance, China Construction Bank, and Centene.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Financial Services Global Market Report 2022– Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides financial services market overviews, analyzes and forecasts market size, share, financial services market players, financial services market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s financial services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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