Market Overview:
The global consumer banking market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for digital banking solutions and the rising adoption of smartphones and other mobile devices. In addition, the growing trend of online shopping is also contributing to the growth of this market. The traditional consumer banking segment accounted for a major share of the global consumer banking market in 2017. However, this segment is expected to lose its share gradually over the forecast period as consumers shift towards digital-led solutions owing to their ease-of-use and convenience.
Product Definition:
Consumer banking is the provision of financial products and services to individual consumers. It includes a wide range of activities, such as savings and checking accounts, mortgages, car loans, and credit cards.
The importance of consumer banking lies in its ability to provide access to essential financial products and services for individuals and families. Consumer banking products can help people save money, borrow money when needed, build credit histories, and more.
Traditional:
Traditional is the oldest banking method. It's primary function was to facilitate the transfer of funds from one person or place to another. In other words, it is a system for moving money from here to there in order to complete a transaction.
It has been used by almost every country across the globe and currently more than 100 countries are using it as their national currency.
Digital Led:
Digital Led is a technology platform that helps banks and credit unions to offer innovative products such as mobile payments, digital wallets, e-signatures and online bill payment. It also helps in improving the customer experience by enhancing the online banking platforms. Digital ledgers are used for recording financial transactions which include credits as well as debits made by customers through bank cards or checks.
Application Insights:
The consumer banking market is segmented by application into transactional accounts, savings accounts, debit cards, credit cards and loans. Transactional account includes checking account that generally corresponds to the balance in transaction account. The other applications include current accounts for small businesses and agri-businesses as well as vehicle loans.
The saving accounts segment held a majority of the market share in 2017 due to increasing preference among consumers towards online banking owing to convenience associated with it over physical branches or ATM machines. Moreover, rising awareness regarding interest rates on deposits has also driven this segment growth over the past few years. However, digital transformation has led to an increase in cyberattacks which may hinder its growth further during next seven years or so till 2030 globally speaking; however this factor can be overcome by adopting robust security measures at both ends i.e.
Regional Analysis:
North America dominated the global market in 2017. The growth of consumer banking can be attributed to the presence of a large number of players, technological advancements, and high demand for convenient financial services. Moreover, increasing adoption of smartphones and digital platforms is expected to drive regional growth over the forecast period.
Asia Pacific is anticipated to witness significant growth over the next eight years owing to rising disposable income levels coupled with improving economic conditions in emerging countries such as India and China.
Growth Factors:
- Increasing urbanization and growing disposable income: The global consumer banking market is expected to grow at a CAGR of 6.5% during the forecast period. This growth can be attributed to the increasing urbanization and growing disposable income across the globe.
- Rising demand for credit cards: Credit cards are becoming increasingly popular among consumers, owing to their convenience and flexibility in use. This is expected to drive the growth of the global consumer banking market during the forecast period.
- Proliferation of digital channels: Banks are offering a wide range of digital channels such as online banking, mobile banking, and social media banking to cater to the needs of consumers worldwide. This is expected to boost the growth ofthe global consumerbanking market duringthe forecastperiod .
Scope Of The Report
Report Attributes
Report Details
Report Title
Consumer Banking Market Research Report
By Type
Traditional, Digital Led
By Application
Transactional Accounts, Savings Accounts, Debit Cards, Credit Cards, Loans, Others
By Companies
Allied Irish Bank (UK), Aldermore Bank, Bank Of Ireland UK, Close Brothers, The Co-Operative Bank, Cybg (Clydesdale And Yorkshire Banks), First Direct, Handelsbanken, Masthaven Bank, Metro Bank, Onesavings Bank, Paragon Bank, Secure Trust Bank, Shawbrook Bank, TSB, Virgin Money
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
203
Number of Tables & Figures
143
Customization Available
Yes, the report can be customized as per your need.
Global Consumer Banking Market Report Segments:
The global Consumer Banking market is segmented on the basis of:
Types
Traditional, Digital Led
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Transactional Accounts, Savings Accounts, Debit Cards, Credit Cards, Loans, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Allied Irish Bank (UK)
- Aldermore Bank
- Bank Of Ireland UK
- Close Brothers
- The Co-Operative Bank
- Cybg (Clydesdale And Yorkshire Banks)
- First Direct
- Handelsbanken
- Masthaven Bank
- Metro Bank
- Onesavings Bank
- Paragon Bank
- Secure Trust Bank
- Shawbrook Bank
- TSB
- Virgin Money
Highlights of The Consumer Banking Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Traditional
- Digital Led
- By Application:
- Transactional Accounts
- Savings Accounts
- Debit Cards
- Credit Cards
- Loans
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Consumer Banking Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Consumer banking is a type of banking that provides services to consumers, such as checking accounts, loans, and credit cards.
Some of the major companies in the consumer banking market are Allied Irish Bank (UK), Aldermore Bank, Bank Of Ireland UK, Close Brothers, The Co-Operative Bank, Cybg (Clydesdale And Yorkshire Banks), First Direct, Handelsbanken, Masthaven Bank, Metro Bank, Onesavings Bank, Paragon Bank, Secure Trust Bank, Shawbrook Bank, TSB, Virgin Money.
The consumer banking market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Consumer Banking Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Consumer Banking Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Consumer Banking Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Consumer Banking Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Consumer Banking Market Size & Forecast, 2018-2028
4.5.1 Consumer Banking Market Size and Y-o-Y Growth
4.5.2 Consumer Banking Market Absolute $ Opportunity
Chapter 5 Global Consumer Banking Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Consumer Banking Market Size Forecast by Type
5.2.1 Traditional
5.2.2 Digital Led
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Consumer Banking Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Consumer Banking Market Size Forecast by Applications
6.2.1 Transactional Accounts
6.2.2 Savings Accounts
6.2.3 Debit Cards
6.2.4 Credit Cards
6.2.5 Loans
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Consumer Banking Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Consumer Banking Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Consumer Banking Analysis and Forecast
9.1 Introduction
9.2 North America Consumer Banking Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Consumer Banking Market Size Forecast by Type
9.6.1 Traditional
9.6.2 Digital Led
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Consumer Banking Market Size Forecast by Applications
9.10.1 Transactional Accounts
9.10.2 Savings Accounts
9.10.3 Debit Cards
9.10.4 Credit Cards
9.10.5 Loans
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Consumer Banking Analysis and Forecast
10.1 Introduction
10.2 Europe Consumer Banking Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Consumer Banking Market Size Forecast by Type
10.6.1 Traditional
10.6.2 Digital Led
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Consumer Banking Market Size Forecast by Applications
10.10.1 Transactional Accounts
10.10.2 Savings Accounts
10.10.3 Debit Cards
10.10.4 Credit Cards
10.10.5 Loans
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Consumer Banking Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Consumer Banking Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Consumer Banking Market Size Forecast by Type
11.6.1 Traditional
11.6.2 Digital Led
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Consumer Banking Market Size Forecast by Applications
11.10.1 Transactional Accounts
11.10.2 Savings Accounts
11.10.3 Debit Cards
11.10.4 Credit Cards
11.10.5 Loans
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Consumer Banking Analysis and Forecast
12.1 Introduction
12.2 Latin America Consumer Banking Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Consumer Banking Market Size Forecast by Type
12.6.1 Traditional
12.6.2 Digital Led
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Consumer Banking Market Size Forecast by Applications
12.10.1 Transactional Accounts
12.10.2 Savings Accounts
12.10.3 Debit Cards
12.10.4 Credit Cards
12.10.5 Loans
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Consumer Banking Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Consumer Banking Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Consumer Banking Market Size Forecast by Type
13.6.1 Traditional
13.6.2 Digital Led
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Consumer Banking Market Size Forecast by Applications
13.10.1 Transactional Accounts
13.10.2 Savings Accounts
13.10.3 Debit Cards
13.10.4 Credit Cards
13.10.5 Loans
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Consumer Banking Market: Competitive Dashboard
14.2 Global Consumer Banking Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Allied Irish Bank (UK)
14.3.2 Aldermore Bank
14.3.3 Bank Of Ireland UK
14.3.4 Close Brothers
14.3.5 The Co-Operative Bank
14.3.6 Cybg (Clydesdale And Yorkshire Banks)
14.3.7 First Direct
14.3.8 Handelsbanken
14.3.9 Masthaven Bank
14.3.10 Metro Bank
14.3.11 Onesavings Bank
14.3.12 Paragon Bank
14.3.13 Secure Trust Bank
14.3.14 Shawbrook Bank
14.3.15 TSB
14.3.16 Virgin Money
