What Is The Overview Of The Global Commercial Banking Market?
Commercial banking refers to the branch of banking that provides various financial services to businesses and corporations. These services are designed to support the financial needs of businesses, from small enterprises to large corporations. They help manage risk, facilitate trade, and support economic development through various financial products and services.
Commercial Banking Global Market Report 2024 provides data on the global commercial banking market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The commercial banking market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Forecasted Market Size And Growth Rates For Global Commercial Banking ?
The global commercial banking market has experienced significant growth in recent years, expanding from $3,355.63 billion in 2023 to $3,841.58 billion in 2024, with a CAGR of 14.5%. Historical growth factors include rising global trade, increasing digitization in banking, growing cybersecurity needs, heightened focus on ESG criteria, and improving bank profitability. Looking ahead, the market is projected to grow to $6,650.25 billion by 2028 at a CAGR of 14.7%, driven by economic stability, increasing demand for business loans and financial services, higher interest rates, and expanding internet banking. Key trends in the coming years include technological advances, AI-driven customer service, fintech collaborations, and cloud technology integration.
What Factors Are Driving Growth In The Commercial Banking Market?
The increasing demand for financial services is expected to drive the growth of the commercial banking market. Financial services cover a wide range of economic services related to managing money and facilitating transactions. This demand is fueled by factors such as economic growth, evolving consumer expectations, and regulatory changes. Commercial banking plays a crucial role in the financial services sector, providing essential products and services to businesses, supporting economic growth, and ensuring financial stability. For example, data from YCharts shows that the total amount of commercial and industrial loans from US commercial banks increased from $2.493 trillion in January 2023 to $2.759 trillion in January 2024. Therefore, the rising demand for financial services is boosting the commercial banking market.
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What Are The Main Segments Of The Global Commercial Banking Market?
The commercial banking market covered in this report is segmented –
1) By Products: Syndicated Loans, Capital Market, Commercial Lending, Treasury Management, Project Finance, Other Products
2) By Function: Accepting Deposits, Advancing Loans, Credit Creation, Financing Foreign Trade, Agency Services, Other Functions
3) By Application: Construction, Transportation And Logistics, Healthcare, Media And Entertainmnet, Other Applications
What Emerging Trends Are Influencing The Growth Of The Commercial Banking Market?
In the commercial banking sector, companies are introducing fintech platforms to enhance service offerings and improve efficiency. FIS Global launched the Atelio platform in May 2024, providing core banking, payments, and digital banking capabilities. The platform helps businesses offer advanced financial experiences, such as fraud prevention, cash flow forecasting, and customer behavior analysis.
What Is The Largest Region In The Commercial Banking Market?
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.
