The Business Research Company Global Financial Services Market Report 2022 – Market Size, Trends and Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, September 19, 2022 /EINPresswire.com/ — According to the 2022 Global Financial Services Market Report – Market Size, Trends and Global Forecast 2022-2026 published by The Business Research Company, the financial services market is expected to grow to $37.34 trillion dollars in 2026 with an average annual growth rate of 9.6%. The global payments industry is seeing rapid growth in the adoption of EMV technology, which is expected to increase the revenue of the financial services industry.
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The financial services market consists of the sale of financial or monetary services by entities (organizations, sole proprietorships and partnerships) that engage in financial services related activities such as lending, investment management, insurance, brokerage, payments and funds transfers. 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 fees.
Trends in the global financial services market
The global scenario for the financial services industry shows that many asset managers are investing in big data analytics capabilities to gain customer insights. Big data solutions are being implemented to gain insight into customer segments, product penetration, and analyze the effectiveness of training programs, which is predicted to be one of the key trends in the financial services industry. These technologies are implemented to assess the propensity of existing and potential clients to purchase various products and services offered by a wealth management company, their lifetime value, investment model and the client’s ability to take risks. They also help wealth management companies track business performance, improve customer acquisition and retention rates, increase sales, and offer real-time investment advice. For example, CargoMetrics, an investment firm based in Boston, used an Automatic Identification System (AIS) to collect data on the movement of goods, such as the location and size of cargo, to develop an analytics platform for trading commodities, currencies, and stock indices. This instrument has also been sold to other hedge funds and money managers.
Segments of the global financial services market
The global financial services market is segmented:
By type: lending and payments, insurance, reinsurance and insurance brokerage, investments, foreign exchange services
By business size: small and medium business, large business
By end user: individuals, corporations, government, investment organization
Sub-segments covered: Credit, Cards and Payments, Insurance, Insurance Brokers and Agents, Reinsurance, Asset Management, Securities Brokerage and Stock Exchange Services, Investment Banking.
By geography: The global scenario of the financial services industry market is divided into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, the Middle East and Africa. Among these regions, the largest share falls on Western Europe.
Read more about the Global Financial Services Report here
The Global Financial Services Market Report 2022 is one of a series of new reports from The Business Research Company that provides financial services market overviews, analysis and forecasts of the size and growth of the global financial services market, global financial services market share, financial services market segments. and geography, participants in the financial services market, revenues of leading competitors in the financial services market, profiles and market shares. The financial services market report identifies top countries and segments for opportunities and strategies based on market trends and the approaches of major competitors.
The TBRC Global Financial Services Market Report 2022 includes information on the following:
Data segmentation: market size, global, by regions and countries, historical data and forecasts, and growth rates for 60 geographic regions.
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 much more.
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Business Research has published over 1,000 industry reports covering over 2,500 market segments and 60 regions. The reports are based on 150,000 data sets, extensive secondary research and exclusive insights from interviews with industry leaders. The reports are supplemented with detailed analysis of the impact of COVID-19 on various markets.
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