Private Banking Market Size - By Type (Asset Management Service, Insurance Service, Trust Service, Tax Consulting and Planning, Real Estate Consulting), Application (Personal, Enterprise), Growth Prospects, Regional Outlook & Forecast, 2024

Description

List of Tables

The global private banking market is expected to register a CAGR of 10% during 2024-2032, fueled by tailored financial solutions, global wealth accumulation, and technological advancements. According to an article by UBS in 2023, a significant 38% increase in global wealth is projected over the next five years, reaching USD 629 trillion by 2027.

High-net-worth individuals are seeking sophisticated financial services that go beyond traditional banking, creating a demand for specialized and personalized wealth management solutions. Moreover, the rise of technological advancements and digital platforms has enabled private banks to enhance their service offerings, providing clients with seamless access to their financial portfolios and real-time information. As regulatory environment evolves, private banking institutions are also adapting to ensure compliance while maintaining agility and efficiency in their operations.

The overall private banking market is classified based on type, application and region.

The enterprise segment is set to generate notable demand through 2032, driven by effective data management, enhanced customer experience, and heavy technological investments. Private banks are heavily investing in advanced technologies such as artificial intelligence, machine learning, and blockchain to streamline their operations and enhance customer experiences. The enterprises rely on these banks for automating routine tasks, managing large volumes of data, and improving decision-making processes.

The tax consulting & planning type segment is anticipated to grow swiftly until 2032, driven by complex tax regulations, wealth maximization, and rising demand for consulting. As tax regulations become increasingly complex and subject to frequent changes, high-net-worth individuals are turning to private banks for expert guidance on tax optimization and planning. Private banks specializing in this consulting are well-positioned to offer comprehensive tax strategies, ensuring wealth maximization in compliance with local and international tax laws.

Asia Pacific private banking market is set for robust growth during 2024 and 2032, fueled by economic prosperity and an expanding population of high-net-worth individuals. Countries such as China, India, and Singapore, with a growing number of affluent individuals seeking personalized wealth management solutions, are propelling industry growth. Moreover, cultural nuances, regulatory variations, and diverse investment preferences necessitate a varied approaches to cater to the specific needs of clients, inducing industry innovation.

Product Code: 7642

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Private banking market 360 degree synopsis, 2018 - 2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2024-2032
2.3 Regional trends
2.4 Type trends
2.5 Application trends

Chapter 3 Private Banking Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Banks
- 3.2.2 Technology/Fintech providers
- 3.2.3 Service providers
- 3.2.4 End Users
3.3 Vendor matrix
3.4 Profit margin analysis
3.5 Technology innovation landscape
3.6 Patent analysis
3.7 Key news and initiatives
3.8 Price trend analysis
3.9 Regulatory landscape
3.10 Impact forces
- 3.10.1 Growth drivers
  - 3.10.1.1 Rising bank assets across the sectors
  - 3.10.1.2 Increasing demand for personalized financial services
  - 3.10.1.3 Proliferation of private credit investment opportunities
  - 3.10.1.4 Rising need for wealth management solutions
- 3.10.2 Industry pitfalls & challenges
  - 3.10.2.1 Evolving and stringent regulations
  - 3.10.2.2 Market volatility can impact the performance of investment portfolios
3.11 Growth potential analysis
3.12 Porter's analysis
3.13 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of major market players, 2023 (Top 7 Companies)
4.4 Competitive positioning matrix, 2023
4.5 Strategic outlook matrix, 2023

Chapter 5 Private Banking Market Estimates & Forecast, By Type (Revenue)

5.1 Key trends, by type
5.2 Asset Management Service
5.3 Insurance service
5.4 Trust service
5.5 Tax consulting and planning
5.6 Real estate consulting

Chapter 6 Private Banking Market Estimates & Forecast, By Application (Revenue)

6.1 Key trends, by application
6.2 Personal
6.3 Enterprise

Chapter 7 Private Banking Market Estimates & Forecast, By Region (Revenue)

7.1 Key trends, by region
7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
7.3 Europe
- 7.3.1 UK
- 7.3.2 Germany
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Nordics
7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 Australia
- 7.4.6 Singapore
7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.5.3 Argentina
7.6 MEA
- 7.6.1 South Africa
- 7.6.2 Saudi Arabia
- 7.6.3 UAE

Chapter 8 Company Profiles

8.1 Axis Bank
8.2 Bank of America
8.3 Bank of New York Mellon
8.4 BNP Paribas
8.5 Citigroup
8.6 Credit Suisse
8.7 DBS Group
8.8 Goldman Sachs
8.9 Hana Bank
8.10 HDFC Bank
8.11 HSBC
8.12 ICICI Bank
8.13 IndusInd Bank
8.14 J.P. Morgan Private Bank
8.15 Julius Baer
8.16 Kotak Mahindra
8.17 Morgan Stanley
8.18 Raymond James
8.19 SCOTIA WEALTH MANAGEMENT
8.20 UBS Group AG