Financial services

Financial services market expected to reach $37 trillion in 2026 with growing adoption of EMV technology

Global Financial Services Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026

Global Commercial Research Company Financial Services Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026

LONDON, GREATER LONDON, United Kingdom, March 25, 2022 /EINPresswire.com/ — The global payments industry has seen a rapid increase in the adoption of EMV technology which is shaping the global financial services market. This growth is driven by a higher level of data security offered by EMV chips and PIN cards compared to traditional magnetic stripe cards. EMV is a security standard for various payment cards, including debit, credit, charge, and prepaid cards.

The size of the global financial services market is expected to grow from $23.31 trillion in 2021 to $25.83 trillion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The global financial services market share is then expected to reach $37.34 trillion in 2026 at a CAGR of 9.6%.

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Many wealth management firms are investing in big data analytics capabilities to generate client insights. Big data solutions are implemented to provide insights into customer segments, product penetration, and analyze the effectiveness of training programs. These technologies are implemented to assess the propensity of existing and potential clients to purchase various products and services offered by a wealth management company, their lifetime value, their investment model, and the client’s ability to take risks. According to the analysis of the growth of the financial services industry, they also help wealth management companies to track business performance, increase customer acquisition and retention rates, increase sales and offer advice. investment in real time. For example, CargoMetrics, a Boston-based investment firm, used the Automatic Identification System (AIS) to collect data on the movement of goods such as location and size of cargo to develop a platform – form of analysis for trading commodities, currencies and index funds. This tool has also been sold to other hedge funds and wealth managers.

Key players covered in the global financial services industry are Allianz Group, Industrial and Commercial Bank of China, JPMorgan Chase & Co., Ping An Insurance, Axa Group, Anthem, Inc., Agricultural Bank Of China, China Life Insurance, China Construction Bank, and Centene.

Western Europe was the largest region in the global financial services market in 2021. North America was the second largest region in the global financial services market. Regions covered in the Financial Services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Europe. ‘Africa.

TBRC’s Global Financial Services Market research report is segmented by Type into Loans & Payments, Insurance, Reinsurance & Insurance Brokerage, Investments, Foreign Exchange Services, by Enterprise Size into Small & Medium Enterprises, Large Enterprises , by end user in individuals, companies, government, investment institution.

Global Financial Services Market Report 2022 – By Type (Loans & Payments, Insurance, Reinsurance & Insurance Brokerage, Investments, Foreign Exchange Services), By Enterprise Size (Small & Medium Enterprises, Large Enterprises), By User (Individuals, Businesses, Government, Investment Institution) – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provides financial services market insights, forecasts Financial Services Market Size and Growth for Overall Market, Financial Services Market Segments, Geographies, Financial Services Market Trends, Financial Services Market Drivers, Restraints, Revenues, Profiles and Market Shares of the main competitors.

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