Retail banking market is anticipated to grow at a CAGR of 4.6% during the forecast period (2023-2030). The market growth is driven by the rising working population, improved economic conditions, and increased government investments in banking sectors. For instance, the US Department of the Treasury invested nearly $245 billion across five distinct bank programs. Each of these programs was established to accomplish different goals as part of the overall effort to stabilize the banking system in the US. Further, digital transformation in banking backed with established regulatory measures and growing Fintech service providers are the potential factors for retail banking revenue growth.
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The global retail banking market is segmented on the type, and service. Based on the type, the market is sub-segmented into public sector banks, private sector banks, foreign banks, community development banks, and non-banking financial companies (NBFC). Furthermore, based on service, the market is sub-segmented into transactional accounts, savings and checking accounts, debit cards, credit cards, mortgages, and loans (home loans, personal loans, car loans, and others). The savings and checking accounts subcategory is expected to capture a significant portion of the market share within the service segment. This is attributed to growing digitalization and trends towards digital money and cashless transactions which can lead to demand for savings and checking accounts to operate online transactions.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Retail Banking Market Report Segment
By Type
- Public Sector Banks
- Private Sector Banks
- Foreign Banks
- Community Development Banks
- Non-banking Financial Companies (NBFC)
By Service
- Transactional Accounts
- Savings and Checking Accounts
- Debit Cards
- Credit Cards
- Mortgages
- Loan (Home Loan, Personal Loan, Car Loan, and Other)
Global Retail Banking Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global retail banking market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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