Commercial Banking Market Report 2024

This Commercial Banking industry report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The commercial banking market size has grown rapidly in recent years. It will grow from $3.35 trillion in 2023 to $3.84 trillion in 2024 at a compound annual growth rate (CAGR) of 14.5%. The growth during the historic period can be attributed to several factors such as the rise in global trade among countries, the increasing digitization of the banking sector, the growing threat of cyber-attacks and the need for enhanced cybersecurity measures, a heightened focus on environmental, social, and governance (ESG) criteria, and improved bank profitability.

The commercial banking market size is expected to see rapid growth in the next few years. It will grow to $6.65 trillion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to several factors such as increasing economic stability and integration into global markets, a growing need for business loans and financial services, rising interest rates, a heightened demand for financial services, and the expansion of internet banking. Key trends in this period include technological advancements, such as the introduction of automated teller machines (ATMs), the application of artificial intelligence (AI) and machine learning to improve customer service, ongoing technological innovation, collaborations with fintech companies, and the integration of cloud technology.

The growing demand for financial services is expected to drive the expansion of the commercial banking market. Financial services encompass a wide range of activities related to managing money and facilitating transactions. This increased demand is driven by factors such as economic growth, evolving consumer expectations, and changes in the regulatory environment. Commercial banking plays a crucial role in the financial services sector by providing essential products and services to businesses, supporting economic growth, and enhancing financial stability. For example, in July 2024, YCharts, a US-based financial research platform, reported that US commercial banks' commercial and industrial loans grew from $2.493 trillion in January 2023 to $2.759 trillion in January 2024. This growth reflects the rising demand for financial services, which is fueling the commercial banking market's expansion.

Major players in the commercial banking sector are focusing on developing innovative fintech platforms to enhance their service offerings, boost operational efficiency, and deliver seamless digital banking experiences. Fintech platforms are digital solutions that use technology to offer financial services more efficiently and innovatively. For instance, in May 2024, FIS Global, a US-based financial services company, launched Atelio, a new fintech platform. Atelio provides advanced core banking, payments, and digital banking capabilities, allowing businesses to handle tasks such as deposit collection, money transfer, card issuance, invoicing, fraud prevention, cash flow forecasting, and customer behavior analysis.

In May 2021, TD Bank Group, a Canada-based banking and financial services provider, acquired Wells Fargo for an undisclosed amount. This acquisition supports TD Bank's strategy for growth and innovation, aiming to enhance customer satisfaction and expand market presence. Wells Fargo is a US-based financial services company offering a variety of solutions to businesses.

Major companies operating in the commercial banking 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.

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.

The countries covered in the commercial banking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Commercial banking is the sector of banking that offers a range of financial services to businesses and corporations. These services are aimed at meeting the financial needs of businesses, from small enterprises to large corporations. They assist in managing risk, facilitating trade, and promoting economic development through various financial products and services.

The primary types of products offered by commercial banking include syndicated loans, capital markets, commercial lending, treasury management, project finance, and more. Syndicated loans involve a group of lenders, usually banks, providing a large loan to a single borrower. Key functions of commercial banking encompass accepting deposits, advancing loans, creating credit, financing foreign trade, and providing agency services, among others. These services are utilized across various sectors, including construction, transportation and logistics, healthcare, media and entertainment, and others.

The commercial banking market research report is one of a series of new reports that provides commercial banking market statistics, including commercial banking industry global market size, regional shares, competitors with a commercial banking market share, detailed commercial banking market segments, market trends, and opportunities, and any further data you may need to thrive in the commercial banking industry. This commercial banking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The commercial banking market includes revenues earned by entities by providing merchant services, foreign exchange services, and investment banking services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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