7 Key Markets In The Financial Services Industry: By The Business Research Company
The Business Research Company’s latest reports now include updated market data for 2024 and projections up to 2033, offering stakeholders valuable insights for strategic decision-making in the ever-evolving global marketplace.
LONDON, March 07, 2024 (GLOBE NEWSWIRE) — Gain a competitive edge by tapping into The Business Research Company’s Financial Services industry reports. These reports provide essential insights for businesses operating in these dynamic sectors, covering market trends, growth drivers, challenges, and opportunities. With comprehensive analyses, companies can make informed decisions and devise strategic plans to stay ahead in the market.
Explore the most recent market reports in the Financial Services sectors from The Business Research Company today.
1. Financial Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/financial-services-global-market-report
The financial services market has experienced strong growth recently, attributed to various factors such as increasing demand for fast and real-time fund transfers, adoption of blockchain technology, and the rise of digital banking services. Projected to reach $33,539.52 billion in 2024 from $31,138.82 billion in 2023, with a compound annual growth rate (CAGR) of 7.7%, the market is expected to continue growing to $44,925.71 billion by 2028, with a CAGR of 7.6%.
The payments industry has seen a rapid adoption of EMV technology, driven by its enhanced data security features compared to traditional magnetic stripe cards. EMV, a security standard for various payment cards, offers robust protection through chip and PIN technology, ensuring secure transactions for consumers and businesses alike.
2. Insurance Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/insurance-global-market-report
Insurance provides financial protection against damages, offering reimbursement or compensation through contracts with insurance companies. Major types include life insurance, property and casualty insurance, and health and medical insurance, accessible through online and offline modes and serving both corporate and individual users.
The insurance market is segmented by type, mode, and end user, with subsegments like term life insurance, automobile insurance, and critical illness insurance. Expected to grow from $7,265.22 billion in 2023 to $7,793.45 billion in 2024, with a compound annual growth rate (CAGR) of 7.3%, the market is projected to reach $10,288.43 billion by 2028, growing at a CAGR of 7.2%.
Growth drivers include globalization, demographic changes, natural disasters, and shifts in consumer behavior, with expanded distribution channels further fueling market expansion.
3. Insurance Brokers Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/insurance-brokers-global-market-report
The insurance brokers market has experienced robust growth, attributed to factors such as strong economic growth, government-led insurance reforms, rising healthcare costs, and the impact of COVID-19. Expected to reach $105.81 billion in 2024 from $100.7 billion in 2023, with a compound annual growth rate (CAGR) of 5.1%, the market is projected to grow steadily to $127.88 billion by 2028, at a CAGR of 4.8%.
The increasing demand for pet insurance is anticipated to further drive market growth, providing financial protection for veterinary costs associated with pet care. Insurance brokers play a crucial role in offering various pet insurance policies to meet the evolving needs of pet owners.
Key players in the market include Marsh & McLennan Cos Inc., Aon PLC, Arthur J Gallagher & Co, and others, offering a range of services to clients in the insurance sector.
4. Lending Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/lending-global-market-report
The lending market has shown strong growth, driven by factors like economic expansion, increased internet access, rising consumer spending, and growth in construction and vehicle loans. Expected to reach $11,325.13 billion in 2024 from $10,505.27 billion in 2023, with a compound annual growth rate (CAGR) of 7.8%, the market is projected to grow to $15,283.24 billion by 2028, maintaining a similar growth rate.
The increase in small businesses is anticipated to further boost the lending market, facilitating loans for both business expansion and consumer needs.
Major players are leveraging innovative platforms like crypto lending to maintain market dominance, enabling borrowing and lending of cryptocurrencies online.
5. Impact Investing Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/impact-investing-global-market-report
Impact investing involves making investments with the goal of generating positive social and environmental impact alongside financial returns. It reflects a commitment to corporate social responsibility and is prevalent across various sectors such as education, healthcare, housing, agriculture, and clean energy access.
The impact investing market has witnessed rapid growth, expanding from $478.15 billion in 2023 to $550.52 billion in 2024, with a compound annual growth rate (CAGR) of 15.1%. This growth is attributed to factors like increasing social and environmental awareness, evolving investor values, and the emergence of impact metrics.Projected to reach $1,061.14 billion by 2028, growing at a CAGR of 17.8%, the market is expected to see continued rapid growth.
North America led the market in 2023, with regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa being covered in the impact investing market report.
6. Investment Banking Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/investment-banking-global-market-report
Investment banking encompasses financial consultancy services within banks and financial institutions, including capital raising and mergers and acquisitions advisory for governments, corporations, and institutions. Its main types include mergers and acquisitions advisory, financial sponsor/syndicated loans, equity and debt capital markets underwriting.
The investment banking market has shown robust growth, expanding from $131.25 billion in 2023 to $142.16 billion in 2024, with a compound annual growth rate (CAGR) of 8.3%. Expected to grow to $194.05 billion by 2028, with a CAGR of 8.1%, factors driving growth include geopolitical stability, industry consolidation, financial deregulation, and the development of derivatives and private equity markets.
North America led the investment banking market in 2023, with Asia-Pacific following closely. Regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
7. Online Trading Platform Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/online-trading-platform-global-market-report
The online trading platform market has experienced strong growth, driven by factors such as economic expansion, increased disposable income, digitalization, and growing demand for computing devices. Expected to reach $11.71 billion in 2024 from $10.98 billion in 2023, with a compound annual growth rate (CAGR) of 6.7%, the market is projected to grow to $15.58 billion by 2028, with a CAGR of 7.4%.
Rising Internet penetration is anticipated to further drive market growth, providing consumers with access to online platforms for trading information and knowledge. Online trading heavily relies on the Internet, making increased Internet penetration crucial for market expansion.
North America led the online trading platform market in 2023, with Asia-Pacific expected to be the fastest-growing region in the forecast period. Regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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