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Retail Banking Market Size, Share & Trends Analysis Report By Type (Public Sector Banks, Private Sector Banks, Foreign Banks), By Service (Saving & Checking Accounts, Credit & Debit Cards), By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 110 Pages
  • May 2023
  • Region: Global
  • Grand View Research
  • ID: 5830899
The global retail banking market size is expected to reach USD 2,840.70 billion by 2030, growing at a CAGR of 5.6% from 2023 to 2030. The growth is attributed to the increasing focus of banks on improving the customer experience through offering competitive interest rates and improved customer connectivity. By providing better rates and strengthening customer interactions, banks aim to attract and retain customers, leading to increased market demand for their services.

In addition, the stable nature of retail deposits in a demand-driven economy contributes to the growth of the market. Retail banks typically rely on customer deposits as a stable and reliable source of funding. As customers trust the stability of retail banking institutions, they are more likely to deposit their funds, providing banks with a solid foundation for lending and other banking activities. This stability allows retail banks to operate with lower marketing efforts and focus on meeting the evolving expectations of customers for various products and services.

Another factor is the ongoing modification of business processes by retail banking companies to reduce operational costs. By streamlining operations and optimizing efficiency, banks can lower their expenses and potentially pass on cost savings to customers in the form of more competitive rates and fees. This cost-reduction strategy enhances the attractiveness of their products and services, driving the growth of the retail banking industry.

The COVID-19 pandemic highlighted the importance of remote banking services, pushing banks to improve their digital infrastructure and customer experience. As a result, customers who may have been hesitant to embrace digital banking before the pandemic became more comfortable and experienced the benefits of convenience, speed, and accessibility. This shift in customer behavior and the growing acceptance of digital banking services are expected to have a lasting positive impact on the growth trajectory of the retail banking industry.

Retail Banking Market Report Highlights

  • The private sector banks segment dominated the market. The private sector banks have invested significantly in technology and digital transformation. They have embraced advancements such as online and mobile banking, chatbots, and seamless digital payment solutions, contributing to the segment’s growth
  • The debit and credit cards segment is expected to experience rapid growth due to the rise of e-commerce and online shopping. Cards are the preferred payment method for online transactions, providing a seamless and secure payment experience
  • The Middle East & Africa region is expected to experience rapid growth. Digital transformation is playing a pivotal role in the growth of the retail banking industry in the MEA region. The widespread adoption of smartphones and increasing internet penetration have created a conducive environment for digital banking services

Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definitions
1.3. Information Procurement
1.4. Information Analysis
1.4.1. Market Formulation & Data Visualization
1.4.2. Data Validation & Publishing
1.5. Research Scope and Assumptions
1.6. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Impact Analysis
3.3.1.1. Rapid technological advancements
3.3.1.2. Evolving customer expectations
3.3.2. Market Challenge Impact Analysis
3.3.2.1. Increasing risks of cyber threats
3.4. Impact of COVID-19 Pandemic
3.5. Industry Analysis Tools
3.5.1. Porter’s Analysis
3.5.2. PESTEL Analysis
Chapter 4. Retail Banking Market: Type Estimates & Trend Analysis
4.1. Type Movement Analysis & Market Share, 2022 & 2030
4.2. Retail Banking Market Estimates & Forecast, By Type
4.2.1. Public Sector Banks
4.2.2. Private Sector Banks
4.2.3. Foreign Banks
4.2.4. Community Development Banks
4.2.5. Non-banking Financial Companies (NBFC)
Chapter 5. Retail Banking Market: Service Estimates & Trend Analysis
5.1. Service Movement Analysis & Market Share, 2022 & 2030
5.2. Retail Banking Market Estimates & Forecast, By Service
5.2.1. Savings and Checking Account
5.2.2. Transactional Account
5.2.3. Personal Loan
5.2.4. Home Loan
5.2.5. Mortgages
5.2.6. Debit and Credit Cards
5.2.7. ATM Cards
5.2.8. Certificates of Deposits
Chapter 6. Retail Banking Market: Regional Estimates & Trend Analysis
6.1. Retail Banking Market: Regional Outlook
6.2. North America
6.2.1. North America retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.2.2. U.S.
6.2.2.1. U.S. retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.2.3. Canada
6.2.3.1. Canada retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.3. Europe
6.3.1. Europe retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.3.2. UK
6.3.2.1. UK retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.3.3. Germany
6.3.3.1. Germany retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.3.4. France
6.3.4.1. France retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.3.5. Italy
6.3.5.1. Italy retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.4. Asia Pacific
6.4.1. Asia Pacific retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.4.2. China
6.4.2.1. China retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.4.3. India
6.4.3.1. India retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.4.4. Japan
6.4.4.1. Japan retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.4.5. South Korea
6.4.5.1. South Korea retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.4.6. Australia
6.4.6.1. Australia retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.5. Latin America
6.5.1. Latin America retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.5.2. Brazil
6.5.2.1. Brazil retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.5.3. Mexico
6.5.3.1. Mexico retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.6. Middle East & Africa
6.6.1. Middle East & Africa retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.6.2. Kingdom of Saudi Arabia (KSA)
6.6.2.1. Kingdom of Saudi Arabia (KSA) retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.6.3. UAE
6.6.3.1. UAE retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
6.6.4. South Africa
6.6.4.1. South Africa retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Chapter 7. Competitive Landscape
7.1. Company Categorization
7.2. Participant’s Overview
7.2.1. BNP Paribas
7.2.2. Citigroup, Inc.
7.2.3. HSBC Group
7.2.4. ICBC
7.2.5. JP Morgan Chase & Co.
7.2.6. Bank of America Corporation
7.2.7. Barclays
7.2.8. China Construction Bank
7.2.9. Deutsche Bank AG
7.2.10. Mitsubishi UFJ Financial Group, Inc.
7.2.11. Wells Fargo
7.3. Financial Performance
7.4. Product Benchmarking
7.5. Company Market Positioning
7.6. Company Market Share Analysis, 2022
7.7. Company Heat Map Analysis
7.8. Strategy Mapping
7.8.1. Expansion
7.8.2. Collaborations
7.8.3. Mergers & Acquisitions
7.8.4. New Product Launches
7.8.5. Partnerships
7.8.6. Others
List of Tables
Table 1 Global Retail Banking Market, by Type, 2017 - 2030 (USD Billion)
Table 2 Global Retail Banking Market, by Service, 2017 - 2030 (USD Billion)
Table 3 Company Market Share, 2022
Table 4 Company Heat Map Analysis
Table 5 Key companies undergoing expansion
Table 6 Key companies undergoing collaborations
Table 7 Key companies undergoing new product launch
Table 8 Key companies undergoing mergers & acquisitions
Table 9 Key companies undergoung other strategies
List of Figures
Fig. 1 Retail banking market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and valudation
Fig. 5 Data validating & publishing
Fig. 6 Market snapshot
Fig. 7 Segment snapshot
Fig. 8 Competitive landscape snapshot
Fig. 9 Parent Market Value, 2022 (USD Billion)
Fig. 10 Retail banking market - Industry value chain analysis
Fig. 11 Retail banking market dynamics
Fig. 12 Retail banking market: Porters’s analysis
Fig. 13 Retail banking market: PESTEL analysis
Fig. 14 Retail banking market, by type: key takeaways
Fig. 15 Retail banking market, by type: market share, 2022 & 2030
Fig. 16 Retail banking market estimates & forecasts, by public sector banks, 2017 - 2030 (USD Billion)
Fig. 17 Retail banking market estimates & forecasts, by private sector banks, 2017 - 2030 (USD Billion)
Fig. 18 Retail banking market estimates & forecasts, by foreign banks, 2017 - 2030 (USD Billion)
Fig. 19 Retail banking market estimates & forecasts, by community development banks, 2017 - 2030 (USD Billion)
Fig. 20 Retail banking market estimates & forecasts, by non-banking financial companies (NBFC), 2017 - 2030 (USD Billion)
Fig. 21 Retail banking market, by service: key takeaways
Fig. 22 Retail banking market, by service: market share, 2022 & 2030
Fig. 23 Retail banking market estimates & forecasts, by saving and checking account, 2017 - 2030 (USD Billion)
Fig. 24 Retail banking market estimates & forecasts, by transactional account, 2017 - 2030 (USD Billion)
Fig. 25 Retail banking market estimates & forecasts, by personal loan, 2017 - 2030 (USD Billion)
Fig. 26 Retail banking market estimates & forecasts, by home loan, 2017 - 2030 (USD Billion)
Fig. 27 Retail banking market estimates & forecasts, by mortgages, 2017 - 2030 (USD Billion)
Fig. 28 Retail banking market estimates & forecasts, by debit and credit cards, 2017 - 2030 (USD Billion)
Fig. 29 Retail banking market estimates & forecasts, by atm cards, 2017 - 2030 (USD Billion)
Fig. 30 Retail banking market estimates & forecasts, by certificates of deposits, 2017 - 2030 (USD Billion)
Fig. 31 Retail banking market revenue, by region, 2022 & 2030, (USD Billion)
Fig. 32 Regional marketplace: key takeways
Fig. 33 North America retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 34 US retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 35 Canada retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 36 Europe retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 37 UK retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 38 Germany retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 39 France retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 40 Italy retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 41 Asia pacific retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 42 China retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 43 India retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 44 Japan retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 45 South Korea retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 46 Australia retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 47 Latin America retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 48 Brazil retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 49 Mexico retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 50 Middle East & Africa retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 51 Kingdom of Saudi Arabia (KSA) retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 52 UAE retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 53 South Africa retail banking market estimates & forecasts, 2017 - 2030 (USD Billion)
Fig. 54 Key company categorization
Fig. 55 Company market positioning
Fig. 56 Company market share analysis, 2022
Fig. 57 Strategic framework

Companies Mentioned

  • BNP Paribas
  • Citigroup, Inc.
  • HSBC Group
  • ICBC
  • JP Morgan Chase & Co.
  • Bank of America Corporation
  • Barclays
  • China Construction Bank
  • Deutsche Bank AG
  • Mitsubishi UFJ Financial Group, Inc.
  • Wells Fargo

Methodology

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Table Information