Global Retail Banking Market Size, Share, Growth Analysis, By Services(Transactional Accounts, Savings Account), By Bank Type(Community Development Bank, Private Banks), By Region(North America, Europe)

Description

Global Retail Banking Market size was valued at USD 6.29 billion in 2022 and is poised to grow from USD 6.94 billion in 2023 to USD 15.17 billion by 2031, growing at a CAGR of 10.28% during the forecast period (2024-2031).

Local branches of larger commercial banks prioritize serving individual customers over corporate clients in retail banking. Financial services offered by retail banking include current and savings accounts, mortgages, personal loans, debit and credit cards, and deposit certification for people and families. People are taking out different kinds of loans to buy cars, homes, and other things, which is driving up the growth of the retail banking industry. Retail banks are putting more of an emphasis on improved monitoring capabilities and client connectivity, which will spur market expansion over the course of the projection period. The main advantage of retail banking is that each customer has a personal relationship with the bank, which makes it easier for them to receive all financial services.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Retail Banking Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Retail Banking Market Segmental Analysis

Based on services, bank type, and geography, the worldwide retail banking market is divided into segments. The Market is divided into transactional accounts, savings accounts, debit cards, ATM cards, credit cards, mortgages, house loans, and auto loans in terms of service segmentation. The market is divided into community development banks, private banks, public banks, and NBFCs according to the kind of bank. The market is widely distributed over North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

Drivers of the Global Retail Banking Market

The retail banking industry helps to propel market expansion by lending money to customers more quickly than other banks. Additionally, retail banks are putting more of an emphasis on improved monitoring capabilities and consumer connectivity.

Restraints in the Global Retail Banking Market

Increase in significant loan losses as a result of people failing to repay bank-issued loans, which could impede the market's overall expansion. Furthermore, the retail banking market is facing numerous difficulties as a result of the strict rules placed on the banking industry.

Market Trends of the Global Retail Banking Market

The newest services to be integrated into business processes in the retail banking sector include artificial intelligence (AI), robotic process automation (RPA), digital identity (ID), and robo-advisors. These services are expected to be major trends in the industry over the coming years.

Product Code: SQMIG40A2003

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Retail Banking Market by Services

Market Overview
Transactional Accounts
Savings Account
Debit Cards
ATM Cards
Credit Cards
Mortgage
Home Loan
and Car Loan.

Global Retail Banking Market by Bank Type

Market Overview
Community Development Bank
Private Banks
Public Banks
and NBFC.

Global Retail Banking Market by Region

Market Overview
North America
Europe

Asia Pacific

Latin America
MEA.

Global Retail Banking Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Industrial and Commercial Bank of China (ICBC)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
China Construction Bank
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Agricultural Bank of China
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Mitsubishi UFJ Financial Group (MUFG)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bank of China
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
HSBC Holdings
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
BNP Paribas
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Wells Fargo & Company
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
JPMorgan Chase & Co.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Citigroup
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bank of America Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Banco Santander
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Banco Bilbao Vizcaya Argentaria (BBVA)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Mitsubishi Financial Group (MFG)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Credit Agricole
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sumitomo Mitsui Financial Group (SMFG)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Royal Bank of Scotland (RBS)
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Barclays
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Lloyds Banking Group
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Societe Generale
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Retail Banking Market Size, Share, Growth Analysis, By Services(Transactional Accounts, Savings Account), By Bank Type(Community Development Bank, Private Banks), By Region(North America, Europe) - Industry Forecast 2024-2031