Commercial banking market review 2018-2023 & forecast to 2033 by product, function & application with profiles of key players - jpmorgan chase, bank of america, agriculture bank of china & more

Dublin, oct. 25, 2024 (globe newswire) -- the "commercial banking market report 2024" report has been added to researchandmarkets.com's offering. this commercial banking industry report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. it traces the market's historic and forecast market growth by geography. the commercial banking market size has grown rapidly in recent years. it will grow from $3.35 trillion in 2023 to $3.84 trillion in 2024 at a compound annual growth rate (cagr) of 14.5%. the growth during the historic period can be attributed to several factors such as the rise in global trade among countries, the increasing digitization of the banking sector, the growing threat of cyber-attacks and the need for enhanced cybersecurity measures, a heightened focus on environmental, social, and governance (esg) criteria, and improved bank profitability. north america was the largest region in the commercial banking market in 2023. the commercial banking market size is expected to see rapid growth in the next few years. it will grow to $6.65 trillion in 2028 at a compound annual growth rate (cagr) of 14.7%. the growth in the forecast period can be attributed to several factors such as increasing economic stability and integration into global markets, a growing need for business loans and financial services, rising interest rates, a heightened demand for financial services, and the expansion of internet banking.
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