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United States Financial Services Market: By Types: Banking Services, Insurance, Foreign Exchange, Investment Services, Others; By Application: B2B, B2C; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Industry Events and Developments

United States Financial Services Market Outlook

The United States financial services market comprises of multiple markets, including financial planning, and insurance and products markets.

 

United States Financial Services Market

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The global financial services industry is expected to grow at a CAGR of around 6% in the forecast period of 2021-2026, owing to the increasing demand for cheaper loans and other financial services. The market in the United States is aided by the finance planning and advice market in the region, which reached a value of nearly USD 57 billion in 2020.

 

The United States has the largest and most liquid financial markets globally. The finance and insurance market alone represented nearly 7.5% of the nation’s gross domestic product in 2018. On the other hand, the financial services and insurance sector employed around 6.4 million people by the end of 2018. The United States is the place where the market for venture capital began for the first time. The region continues to be supportive of most of the innovative companies. The venture capital-based companies employ almost 40% of the working population. Thus, the financial services industry has been thriving in the United States.

In 2018, the banking sector supported the region’s economy, which is one of the largest economies in the world. The sector provides the region with great diversity in terms of banking, as well as the concentration of its private credit all over the world.

 

Properties and Applications

Financial services refer to the mechanism by which a customer or company obtains a financial good. It is a sector that is increasingly influential in the modern economy. They apply to a wide range of more specific activities, such as banking savings as well as insurance. They are limited to the activities of financial services firms and their professionals, while financial products refer to the actual goods, accounts, or investments they provide.

 

United States Financial Services Market By Type

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Their types include:

  • Banking Services
  • Insurance
  • Foreign Exchange
  • Investment Services
  • Others

It finds wide applications in the following sectors:

  • B2B
  • B2C

 

United States Financial Services Market By Region

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Market Analysis

The United States financial services industry is being driven by the growing demand for insurance and loans among consumers. Globalisation and urbanisation are leading to the increasing demand in the end-user investments. The industry is also being propelled by the global economic growth, which is leading to the increased demand for financial services. The increasing disposable incomes of the consumers is enabling them to invest more, thus propelling the financial services industry further.

The financial services industry in the United States is also being supported by the increased demand for cheaper loans since the demand for housing, and other amenities is growing among the consumers. The services are also being demanded for the start-up businesses. The adoption of efficient as well as advanced technologies is boosting the industry in the region. The growing competition between the key players is driving the industry growth further.

The United States financial services industry is also being driven by the increasing interest of service companies to locate their service headquarters in the nation. It would be beneficial to the service providers as they would be able to benefit from the creative, competitive, as well as the comprehensive financial services industry of the United States.

 

Competitive Landscape

The report gives a detailed analysis of the following key players in the United States financial services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • JPMorgan Chase & Co.
  • Bank of America Corporation
  • Citigroup, Inc.
  • Wells Fargo & Company
  • Goldman Sachs Group Inc.
  • Others

The comprehensive EMR report covers the macro and micro aspects of the industry. It provides an in-depth assessment of the industry based on Porter’s five forces model along with giving a SWOT analysis. The report also gives an overview of the other major global markets like the Asia Pacific, the Middle East and Africa, Europe, North America, and Latin America.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Types, Application
Breakup by Types Banking Services, Insurance, Foreign Exchange, Investment Services, Others
Breakup by Application B2B, B2C
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered JPMorgan Chase & Co., Bank of America Corporation, Citigroup, Inc., Wells Fargo & Company, Goldman Sachs Group Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    United States
7    Industry Opportunities and Challenges
8    Global Financial Services Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Financial Services Historical Market (2016-2020) 
    8.3    Global Financial Services Market Forecast (2021-2026)
    8.4    Global Financial Services Market by Types
        8.4.1    Banking Services
        8.4.2    Insurance
        8.4.3    Foreign Exchange
        8.4.4    Investment Services
        8.4.5    Others
    8.5    Global Financial Services Market by Region
        8.5.1    North America
        8.5.2    Europe
        8.5.3    Asia Pacific
        8.5.4    LATAM
        8.5.5    Middle East & Africa
9    United States Financial Services Market Analysis
    9.1    Key Industry Highlights
    9.2    United States Financial Services Historical Market (2016-2020) 
    9.3    United States Financial Services Market Forecast (2021-2026)
    9.4    United States Financial Services Market by Types
        9.4.1    Banking Services
            9.4.1.1    Market Share
            9.4.1.2    Historical Trend (2016-2020)
            9.4.1.3    Forecast Trend (2021-2026)
        9.4.2    Insurance
            9.4.2.1    Market Share
            9.4.2.2    Historical Trend (2016-2020)
            9.4.2.3    Forecast Trend (2021-2026)
        9.4.3    Foreign Exchange
            9.4.3.1    Market Share
            9.4.3.2    Historical Trend (2016-2020)
            9.4.3.3    Forecast Trend (2021-2026)
        9.4.4    Investment Services
            9.4.4.1    Market Share
            9.4.4.2    Historical Trend (2016-2020)
            9.4.4.3    Forecast Trend (2021-2026)
        9.4.5    Others
    9.5    United States Financial Services Market by Application
        9.5.1    B2B
            9.5.1.1    Market Share
            9.5.1.2    Historical Trend (2016-2020)
            9.5.1.3    Forecast Trend (2021-2026)
        9.5.2    B2C
            9.5.2.1    Market Share
            9.5.2.2    Historical Trend (2016-2020)
            9.5.2.3    Forecast Trend (2021-2026)
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    JPMorgan Chase & Co.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Bank of America Corporation
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Citigroup, Inc.
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Wells Fargo & Company
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Goldman Sachs Group Inc.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Others
13    Industry Events and Developments


List of Figures and Tables

1.    United States Financial Services Market: Key Industry Highlights, 2016 and 2026
2.    United States Financial Services Historical Market: Breakup by Types (USD Billion), 2016-2020
3.    United States Financial Services Market Forecast: Breakup by Types (USD Billion), 2021-2026
4.    United States Financial Services Historical Market: Breakup by Application (USD Billion), 2016-2020
5.    United States Financial Services Market Forecast: Breakup by Application (USD Billion), 2021-2026
6.    United States Financial Services Market Structure

Key Questions Answered in the Report

The United States financial services market is aided by the finance planning and advice market in the region, which reached a value of nearly USD 57 billion in 2020.

The United States financial services market which is driven by the global market for financial services, which is projected to grow at a CAGR of 6% between 2021 and 2026.

The major drivers of the market include the growing demand for insurance and loans, global economic growth and increasing number of start-up businesses.

The increasing interest of service companies to locate their service headquarters in the nation and the adoption of advanced technologies are the key industry trends propelling the growth of the market.

Banking is the dominant type of financial service in the United States financial services market.

The major application sectors of the financial services market in the United States include the B2B and the B2C sectors.

The major players in the industry are JPMorgan Chase & Co., Bank of America Corporation, Citigroup, Inc., Wells Fargo & Company, and Goldman Sachs Group Inc., among others

Analyst Review

The United States financial services market is aided by the finance planning and advice market in the region, which reached a value of nearly USD 57 billion in 2020, is driven by the growing demand for insurance and loans, global economic growth and increasing number of start-up businesses. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2021-2026, as part of the global financial services market which is growing at a CAGR of 6%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the financial services industry can be segmented into banking services, insurance, foreign exchange, and investment services, among others, with banking accounting for the largest market share. Financial services in the United States mainly find wide applications in the B2B and the B2C sectors. The key players in the above market include JPMorgan Chase & Co., Bank of America Corporation, Citigroup, Inc., Wells Fargo & Company, and Goldman Sachs Group Inc., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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