Commercial Banking Market Expected to Accumulate $7.404.4 Billion Globally by 2031 at a CAGR of 11.5%: Allied Market Research
Commercial banks allow transactions by checks, transfers and digital payments and bank drafts. In addition, commercial banks supply customers and small and medium enterprises. All these aspects are driving the growth of the global commercial banking market.
PORTLAND, Oregon., September 20, 2022 /PRNewswire/ — Allied Market Research recently released a report titled “Commercial banking market By Products (Commercial Loans, Cash Management, Project Finance, Syndicated Loans, Capital Markets, Others), By Application (Healthcare, Construction, Transportation & Logistics, Media & Entertainment, Others): Analysis of Global Opportunities and Industry Forecasts , 2021-2031.According to the report, the global commercial banking sector was estimated at $2,540.3 billion in 2021, and should reach $7,404.4 billion by 2031, growing at a CAGR of 11.5% from 2022 to 2031. The report offers detailed analysis of changing market trends, major segments, major investment pockets, value, regional landscapes and competitive scenarios.
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Drivers, constraints and opportunities
Commercial banks allow transactions by checks, transfers and digital payments and bank drafts. In addition, commercial banks supply customers and small and medium enterprises. All these aspects are driving the growth of the global commercial banking market. Furthermore, commercial banks play a key role in the economic growth of any nation, which also helps improve production, employment, and consumer spending. This will create new growth opportunities for the global players as well as the global market. However, the risk of theft and fraud is one of the key factors that may limit the growth of the global market in the coming years.
- The COVID-19 pandemic has severely hampered the expansion of the global commercial banking sector due to consumers’ reluctance to visit commercial bank branches for fear of being infected with COVID-19.
- During the COVID-19 pandemic, commercial banks have adopted e-banking technologies to conduct digital transactions that have helped them provide seamless services to customers through e-banking applications on their smartphones, tablets, desktops and laptop.
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The project finance segment will dominate the global market in terms of revenue in 2031
Based on product, the project finance segment is expected to contribute the highest market share in 2031, accounting for around one-fifth of the global commercial banking market share. The growth of the segment over the forecast period can be attributed to the ability of commercial banks to finance the projects of small as well as large companies. However, commercial loans segment dominated the global market share in 2021. Additionally, the report also includes other segments such as commercial loans, cash management, syndicated loans, capital market and others.
The healthcare segment will contribute a huge share of the global market by 2031
Based on application, the healthcare segment accounted for a major share of the global commercial banking market in 2021. The segment contributed nearly one-third of the overall global market share. Furthermore, the segment is expected to dominate the market growth even in 2031. The growth of the segment over the forecast period can be attributed to the large-scale investments made by commercial banks in the healthcare sector. However, the transport and logistics segment recorded the Fastest CAGR 14.2% over the forecast period. The sectoral growth over the forecast period can be attributed to the provision of various commercial banking services to transportation and logistics companies.
Asia Pacific maintain global market dominance over the period 2022-2031
By region, Asia-Pacific is expected to contribute in particular to the global commercial banking market share in 2031. The region is expected to account for approximately one-third of the global market share in 2031. Market growth in the region during The forecast duration can be attributed to the increased acceptance of NFC and POS terminals in emerging economies in the region. In addition, the rise of mobile and Internet banking services and the expansion of ATM facilities are expected to improve operational efficiency. Moreover, the Asia Pacific The commercial market is expected to register the highest CAGR of 14.2% during the period 2022-2031. The report also analyzes other regions such as North AmericaLAMEA and Europe.
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Main benefits for stakeholders
- This report provides a quantitative analysis of market segments, current trends, estimates and dynamics of the Commercial Banking market share from 2021 to 2031 to identify existing market opportunities.
- The market study is offered with information related to the major drivers, restraints, and opportunities in the commercial banking market.
- Porter’s Five Forces analysis highlights the ability of buyers and suppliers to enable stakeholders to make profit-driven business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of commercial banking market forecast helps in determining the existing market opportunities.
- Major countries in each region are mapped based on their revenue contribution in the global commercial banking market outlook.
- The report includes analysis of regional and global commercial banking market trends, key players, market segments, application areas and market growth strategies.
Key market segments
- Syndicated loans
- Capital market
- Commercial loans
- Finance management
- Project funding
- Health care
- Transport and logistics
- Media and Entertainment
- North America (WE, Canada)
- Europe (UK, Germany, France, Italy, Spain, NetherlandsRest of Europe)
- Asia Pacific (China, India, Japan, Australia, SingaporeRest of Asia Pacific)
- LAMEA (Latin America, Middle East, Africa)
Main market players
- Bank of America Corporation
- Bank of China (BDC)
- Barclays Bank PLC
- BNP Paribas
- China Construction Bank
- Citigroup Inc.
- HSBC Group
- JP Morgan Chase & Co.
- American bank
- well Fargo
The report analyzes these key players of the global commercial banking market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances and joint ventures to improve market penetration and strengthen their position in the industry. The report helps the target audience to determine the performance of the market, the performance of each segment, the development of the product portfolio in the market, and the contributions made by each player to the expansion of the market.
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“We have also published some syndicated market studies in the same field that you may be interested in. Below is the title of the report for your reference, considering the impact of Covid-19 on this market, which will help you to assess the aftermath of the pandemic in the short-term, long-term and long-term growth trends of this market.”
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SOURCE Allied Market Research