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Financial Services Global Market Report 2022 – Market Size, Trends, And Forecast 2022-2026
The Business Research Company’s Financial Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, September 19, 2022 /EINPresswire.com/ — According to ‘Financial Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the financial service market size is expected to grow to $37.34 trillion in 2026 at a CAGR of 9.6%. The global payments industry has witnessed a rapid increase in the adoption of EMV technology, which is expected to propel the financial services industry revenue.
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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 Trends
The global scenario of financial services industry shows that 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 analyze training program effectiveness, which is predicted to be one of the key financial services industry trends. 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. For instance, CargoMetrics, an investment firm based in Boston used Automatic Identification System (AIS), to collect data on commodity movement such as cargo location and cargo size to develop an analytics platform for trading commodities, currencies, and equity index funds. This tool was also sold to other hedge funds and wealth managers.
Global Financial Services Market Segments
The global financial services market is segmented:
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 global scenario of financial services industry market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Western Europe accounts for the largest share.
Read more on the global financial services market report here
https://www.thebusinessresearchcompany.com/report/financial-services-global-market-report
Financial Services Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides financial services market overviews, analyzes and forecasts market size and growth for the global financial services market, financial services global market share, financial services market segments and geographies, financial services market players, financial services market leading competitor revenues, profiles and market shares. The financial services market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Financial Services Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key 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.
And so much more.
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Asset Servicing Global Market Report 2022
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About The Business Research Company
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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