The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rapid EMV technology adoption is expected to drive innovation in financial services manufacturing, driving the market during the forecast period.

The global financial services market is expected to grow from $25848.74 billion in 2022 to $28115.02 billion in 2023 at a compound annual growth rate (CAGR) of 8.8The financial services market is expected to grow to $37484.37 billion in 2027 at a CAGR of 7.5%.

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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 & Payments, Insurance, Insurance Brokers & 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 is the largest region in the global financial services market in 2021.

Major Market Players in the financial services market include Allianz Group, Industrial and Commercial Bank of China, JPMorgan Chase & Co., Ping An Insurance, Axa Group, Anthem, Inc., Agricultural Bank Of China.

Banks and financial institutions are embracing digitization in order to modernise their commercial lending operations. This move is primarily the result of increased bank competition and rising demand for a simplified and quick commercial lending process. Digitization improves customer satisfaction in the otherwise complex and time-consuming process of obtaining a commercial loan. It also allows banks to target new customer segments and provide customer-centric solutions, resulting in increased efficiencies in the commercial lending business. Commonwealth Bank of Australia, Hana Bank, and Fidor Bank are among the banks that have incorporated digitization into lending.

The Financial Services Global Market Report 2023  provides a financial services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The financial services market forecast analyzes financial services market size, financial services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Financial services are financial institutions’ products and services that facilitate various financial transactions and other financial activities such as loans, insurance, credit cards, investment opportunities, and money management.

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