Financial Services Global Market Report 2024 - By Size, Growth, Drivers, Outlook By 2033

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Financial Services Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The financial services market size has grown strongly in recent years. It will grow from $31138.82 billion in 2023 to $33539.52 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to increasing demand for fast & real-time fund transfer, rise in adoption of blockchain technology in the banking sector, rising use of digital banking services, government led insurance reforms, strong economic growth in emerging markets, rising use of cryptocurrency.

The financial services market size is expected to see strong growth in the next few years. It will grow to $44925.71 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to increasing wealth of high-net-worth individuals, rising demand for alternative investments, increase use of blockchain to reduce fraudulent transactions, growth in individual investors investments, increase in home ownership and mortgages, rising urbanization, increasing investments. Major trends in the forecast period include integrating smarter safety systems into financial services, implementing artificial intelligence (ai) in financial services for improved service, invest in new product launches to increase the product portfolio and to increase market share, adopting cloud technology to improve resilience, deliver new capabilities, offering custom and personal services especially for wealth management..

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Key Market Players:
Major companies operating in the fatty acids market report are BASF SE, LG Household & Health Care Ltd., Kraton Corporation, Royal DSM, Cargill, Incorporated, Evonik Industries, Eastman Chemical Company, Croda International Plc, Omega Protein Corporation, AAK, Fairchem, Divine Oleoformulations (India) LLP, Australian Chemical Industries Int Co., Jayant Oils And Derivatives Ltd., Subhash Chemicals Industries Pvt Ltd, Atlas Chemicals, Guangdong Jiangmen Chemical Plant, Shanghai Yan'an Grease Chemical Co.,Ltd, Gysmecol (Guangzhou) Technology Co., Ltd., Akzonobel NV, Aker BioMarine, Oleon NV, Emery Oleochemicals GmbH, Ferro Corporation, Kao Oleochemical, Ashland Global Specialty Chemicals Inc., The Chemical Company, ChemCeed LLC, FoodScience LLC, Reagents, Applied Material Solutions, GJ Chemical, Jedwards International, Inc., Welch Holme & Clark Co. Inc., SAE Manufacturing Specialties Corp, Battelle & Renwick Inc, AKSH Industries, Inc., Norman, Fox & Co., Monson Companies, Inc., Mallinath Group, MSD OLEO FZC, Vantage Oleochemicals, SI Group, Inc

Market Drivers:
The global payments industry has witnessed a rapid increase in the adoption of EMV technology. This growth is driven by the higher level of data security offered by EMV chips and PIN cards as compared to traditional magnetic stripe cards. EMV is a security standard for various payment cards, including debit, credit, charge, and prepaid cards. The chip carries data for the cardholder and the account, which is protected using both hardware and software security measures. For instance, in August 2023, according to Thales Group, a France-based company that designs, develops and manufactures electrical systems, stated that over 12.8 billion EMV chip cards was in circulation during 2022. This is an increase of close to 6% over 2021. Therefore, the increasing payment industry helps to drive the financial services market.

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The financial services market covered in this report is segmented -
1) By Type: Lending And Payments, Insurance, Reinsurance And Insurance Brokerage, Investments, Foreign Exchange Services
2) By Size Of Business: Small And Medium Business, Large Business
3) By End-User: Individuals, Corporates, Government, Investment Institution

Sub segments: Lending , Cards And Payments, Insurance, Reinsurance, Insurance Brokers And Agents, Securities Brokerage And Stock Exchange Services, Wealth Management, Investment Banking

The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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