Press release
Major Force in the Private Banking Market 2025: Private Equity Driving Growth In The Private Banking Market
Private Banking Market
The private banking market has expanded rapidly in recent years. It will increase from $461.07 billion in 2024 to $507.57 billion in 2025, at a CAGR of 10.1%. This growth is due to higher wealth accumulation, increasing globalization, regulatory changes, demographic shifts, heightened competition, and market consolidation.
The private banking market is expected to grow steadily in the next few years, reaching $676.94 billion by 2029 with a CAGR of 7.5%. This growth is attributed to rising economic trends, increasing customization and personalization, a focus on sustainable finance, growing geopolitical factors, and the integration of AI and automation. Notable trends include technological advancements, evolving investment strategies, innovations in wealth transfer solutions, enhanced digital engagement, and a rise in sustainable investing.
What Key Elements Are Boosting Growth in the Private Banking Market?
The increasing demand for private equity is anticipated to boost the private banking market. Private equity involves investments in non-publicly traded companies and is becoming an attractive option due to its flexibility and innovative strategies. Private banking leverages private equity investments to enhance portfolio diversification, maximize returns, and access exclusive financial opportunities. For example, in May 2024, Invest Europe-a Belgium-based association representing Europe's private equity and venture capital sectors-reported that private equity and venture capital investments accounted for 0.44% of the European GDP in 2023. As a result, the growing demand for private equity is contributing to the expansion of the private banking market.
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Who Are the Major Industry Players Fueling Private Banking Market Expansion?
Major companies operating in the private banking market are JPMorgan Chase & Co., Bank of America Corporation, Citigroup Inc., Santander Private Banking, HSBC Holdings plc, Wells Fargo & Co., Morgan Stanley Co. LLC, Royal Bank of Canada (RBC), BNP Paribas SA, Goldman Sachs Group Inc., Internationale Nederlanden Groep, UBS Group AG, Barclays plc, Societe Generale, Credit Agricole SA, Standard Chartered plc, PNC Financial Services Group Inc., Bank of New York Mellon, National Westminster Bank, Mizuho Financial Group Inc., DBS Bank Ltd., Commerzbank AG, Raiffeisen Bank International AG, ABN AMRO Bank N.V., Northern Trust Corporation, Hang Seng Bank Ltd.
Which Key Developments Are Influencing the Private Banking Market?
Companies in the private banking market are launching digital private banks with FINMA licenses, integrating innovative digital services to cater to evolving client needs. A FINMA-licensed digital private bank operates under Swiss regulatory approval, combining the benefits of digital banking with traditional private banking expertise. For example, in October 2022, Alpian SA, a Switzerland-based regulated bank, introduced a FINMA-licensed digital private bank. This mobile-first service merges everyday banking with private banking services, offering clients access to solutions typically reserved for traditional private banks. The bank ensures credibility, security, deposit insurance, and a comprehensive financial services portfolio, appealing to both domestic and international account holders.
How Is the Segmentation of the Private Banking Market Defined?
The private banking market covered in this report is segmented -
1) By Type: Asset Management Service, Insurance Service, Trust Service, Tax Consulting, Real Estate Consulting, Private Banking
2) By Bank Type: Full-Services Banks, Tax Planning, Boutique Banks
3) By Application: Personal, Enterprise
Subsegments:
1) By Asset Management Service: Portfolio Management, Wealth Advisory
2) By Insurance Service: Life Insurance, Property And Casualty Insurance
3) By Trust Service: Estate Planning, Trustee Services
4) By Tax Consulting: Tax Planning, Compliance Services
5) By Real Estate Consulting: Property Valuation, Real Estate Investment Advisory
6) By Private Banking: Personal Banking Services, Customized Financial Solutions
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What Is the Leading Region in the Private Banking Market?
North America was the largest region in the private banking market in 2024. The regions covered in the private banking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Private Banking Global Market Report?
- Market Size Analysis: Analyze the Private Banking Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Private Banking Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Private Banking Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Private Banking Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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