The commercial banking global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Commercial Banking Market, 2024The commercial banking global market report 2024
Market Size –
The commercial banking market size has grown rapidly in recent years. It will grow from $3,355.63 billion in 2023 to $3,841.58 billion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth in the historic period can be attributed to increases in global trade among various countries, increasing digitization in the banking sector, the rising threat of cyber-attacks and the need for robust cybersecurity, increasing focus on environmental, social, and governance (ESG) criteria, and increasing bank profitability.
The commercial banking market size is expected to see rapid growth in the next few years. It will grow to $6,650.25 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to increasing economic stability and integration into global markets, increasing the need for business loans and financial services, rising interest rates, increasing need for financial services, and increasing internet banking. Major trends in the forecast period include advances in technology, such as the introduction of automated teller machines (ATMs), the use of artificial intelligence (AI) and machine learning to enhance customer service, technological innovation, fintech collaborations, and integration of cloud technology.
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Scope Of Commercial Banking Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Commercial Banking Market Overview
Market Drivers –
The rising demand for financial services is poised to significantly contribute to the growth of the commercial banking market in the future. Financial services encompass a wide range of economic services provided by the finance industry, including activities related to managing money and facilitating financial transactions. The increasing demand for financial services is fueled by several factors, such as economic growth and development, evolving consumer expectations, and the regulatory environment. Commercial banking is crucial for the functionality of the financial services sector, as it offers essential financial products and services to businesses, promotes economic growth, and enhances financial stability. For example, according to YCharts in July 2024, the total amount of commercial and industrial loans from US commercial banks increased from $2.493 trillion in January 2023 to $2.759 trillion in January 2024. Therefore, the growing demand for financial services is driving the growth of the commercial banking market.
Market Trends –
Major companies operating in the commercial banking market are focused on developing innovative platforms such as fintech platforms to enhance their service offerings, improve operational efficiency, and provide customers with more seamless digital banking experiences. A fintech platform refers to a digital platform or software that leverages technology to deliver financial services innovatively and efficiently. For instance, in May 2024, FIS Global, a US-based company that offers financial services, launched an innovative new fintech platform, Atelio. The platform is designed to provide advanced core banking, payments, and digital banking capabilities. This platform allows companies to create financial experiences such as collecting deposits, moving money, issuing cards, sending invoices, fighting fraud, forecasting cash flows, and understanding customer behavior.
The commercial banking market covered in this report is segmented –
1) By Products: Syndicated Loans, Capital Market, Commercial Lending, Treasury Management, Project Finance, Other Products
2) By Function: Accepting Deposits, Advancing Loans, Credit Creation, Financing Foreign Trade, Agency Services, Other Functions
3) By Application: Construction, Transportation And Logistics, Healthcare, Media And Entertainmnet, Other Applications
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Regional Insights –
North America was the largest region in the commercial banking market in 2023. The regions covered in the commercial banking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are JPMorgan Chase & Co., Bank Of America Corporation, Agriculture Bank Of China, Wells Fargo & Company, HSBC Holdings PLC, Citigroup Inc., BNP Paribas Group, Capital One Financial Corporation, Barclays Bank PLC, Standard Chartered PLC, The PNC Financial Services Group Inc., ICICI Bank Limited, Axis Bank Limited, Kotak Mahindra Bank Limited, Santander Bank N. A, RBL Bank Ltd., Crédit Agricole S.A, China Investment Corporation, TD Bank N.A., First Busey Corporation
Table of Contents
1. Executive Summary
2. Commercial Banking Market Characteristics
3. Commercial Banking Market Trends And Strategies
4. Commercial Banking Market – Macro Economic Scenario
5. Global Commercial Banking Market Size and Growth
…
32. Global Commercial Banking Market Competitive Benchmarking
33. Global Commercial Banking Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Commercial Banking Market
35. Commercial Banking Market Future Outlook and Potential Analysis
36. Appendix
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