Commercial Bank Market is Poised to Grow at 11.2% CAGR, Surpassing US$ 8,920 Billion by 2034 | Fact.MR Report

Prominent Commercial Banks Focusing on Strengthening Wealth Management and Investment Services to Expand Revenue Stream.

Rockville, MD , Nov. 26, 2024 (GLOBE NEWSWIRE) -- The global commercial bank market is estimated to generate revenue worth US$ 3,093.42 billion in 2024 and has been thoroughly analyzed to expand at a remarkable CAGR of 11.2% to touch a value of US$ 8,920.35 billion by the end of 2034.

Commercial banks are constantly extending their products in asset management, financial planning, retirement services, and other areas in response to the rising demand for wealth management and investment services. Banks are tapping into a profitable industry by meeting with individuals and businesses searching for tailored financial solutions. Another reason driving this trend is a higher interest in diverse assets and comprehensive financial planning, which is forcing banks to strengthen their digital advising tools and personalized services to better serve their changing customer.

The North American region is projected to hold significant market share and lead throughout the assessment period. North America is leading due to its stability and fierce competition between traditional banks and fintech companies. Large investments in technology are driving digital banking services, and banks are increasingly focusing on improving operational efficiency and customer experience.

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Key Takeaways from Commercial Bank Market Study:

Revenue of the global market for commercial banks is forecasted to reach US$ 8,920.35 billion by 2034.
North America is analyzed to generate a turnover of US$ 425.4 billion in 2024.
The market in South Asia & Pacific is evaluated to increase at 13.9% CAGR between 2024 and 2034.
The market in Japan is estimated to reach a value of US$ 467.06 billion by the end of 2034.
China is approximated to register revenue of US$ 631.22 billion by 2034.
The market in the United States is forecasted to expand at 12.4% CAGR from 2024 to 2034.
Based on product and service, the Commercial & Industrial Mortgages segment is projected to reach a size of US$ 3,188.67 billion by 2034.

“Prominent commercial banks are investing in advanced digital technology to enhance the client experience and operational efficiency. Banks are emphasizing reducing costs while attracting tech-savvy customers, resulting in greater transaction volumes and service usage,” says a Fact.MR analyst

Commercial & Industrial Mortgages Segment Hold a Sizable Revenue Portion

Compared to other products and services, commercial and industrial mortgages are in high demand. To increase assets and profitability, several businesses are investing more in new machinery, infrastructure, real estate, and other items. This trend is particularly apparent in sectors, including manufacturing, logistics, technology, and others where space and resources are critical for growing operations. Moreover, low interest rates in several locations have made borrowing more alluring and encouraged businesses to seek out capital for real estate acquisitions. The demand for commercial and industrial mortgages is rising as businesses look to maximize their infrastructure and secure excellent locations.

Leading Players Driving Innovation in the Commercial Bank Market:

Bank of America; Wells Fargo; Citigroup; Goldman Sachs; Morgan Stanley; U.S. Bancorp; PNC Financial Services; JPMorgan Chase; HSBC; Deutsche Bank; BNP Paribas; Royal Bank of Canada; Santander; Barclays; Metropolitan Commercial Bank

Commercial Bank Industry News:

In September 2024, Metropolitan Commercial Bank, a full-service commercial bank headquartered in New York City, announced the introduction of its new and enhanced website, MCBankNY.com. By emphasizing user experience and accessibility, the new website strives to provide seamless and convenient banking to the bank's loyal clients and partners.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the commercial bank market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.

The study divulges essential insights into the market based on product & service (commercial & industrial mortgages, other business loans, residential mortgages, home equity & vehicle loans, other secured & unsecured consumer loans, government loans) and major market (consumers, other businesses, manufacturing companies, transportation, storage & postal service companies, wholesale & retail companies, utility companies, real estate companies, government clients), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

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