Retail Banking Market in US 2024-2028

Description

List of Tables

The retail banking market in US is forecasted to grow by USD 91.47 bn during 2023-2028, accelerating at a CAGR of 4.35% during the forecast period. The report on the retail banking market in US provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by ongoing digital transformation in retail banking, growing collaboration with fintech companies, and increasing focus on financial inclusion.

Technavio's retail banking market in US is segmented as below:

Market Scope
Base Year	2024
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	3.72%
CAGR	4.35%
Incremental Value	$91.47bn

By Type

Private sector banks
Public sector banks
Foreign banks
Community development banks
Non-banking financial companies

By Service

Saving and checking account
Personal loan
Mortgages
Debit and credit cards
Others

By Channel

Direct sales
Distributor

This study identifies the growing adoption of cloud-based retail banking solutions as one of the prime reasons driving the retail banking market in US growth during the next few years. Also, emergence of open banking and focus on environmental, social, and governance (esg) by retail banks will lead to sizable demand in the market.

The report on the retail banking market in US covers the following areas:

Retail banking market in US sizing
Retail banking market in US forecast
Retail banking market in US industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading retail banking market in US vendors that include Bank of America Corp., Bank of Montreal, Barclays PLC, BNP Paribas SA, Capital One Financial Corp., China Construction Bank Corp., Citigroup Inc., Deutsche Bank AG, HSBC Holdings Plc, Industrial and Commercial Bank of China Co., JPMorgan Chase and Co., Key Corp., Mitsubishi UFJ Financial Group Inc., Regions Financial Corp., The Charles Schwab Corp., The PNC Financial Services Group Inc., The Toronto Dominion Bank, Truist Financial Corp., U.S. Bancorp, and Wells Fargo and Co.. Also, the retail banking market in US analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR77565

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028

4 Historic Market Size

4.1 Retail banking market in US 2018 - 2022
4.2 Type Segment Analysis 2018 - 2022
4.3 Service Segment Analysis 2018 - 2022
4.4 Channel Segment Analysis 2018 - 2022

5 Five Forces Analysis

5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition

6 Market Segmentation by Type

6.1 Market segments
6.2 Comparison by Type
6.3 Private sector banks - Market size and forecast 2023-2028
6.4 Public sector banks - Market size and forecast 2023-2028
6.5 Foreign banks - Market size and forecast 2023-2028
6.6 Community development banks - Market size and forecast 2023-2028
6.7 Non-banking financial companies - Market size and forecast 2023-2028
6.8 Market opportunity by Type

7 Market Segmentation by Service

7.1 Market segments
7.2 Comparison by Service
7.3 Saving and checking account - Market size and forecast 2023-2028
7.4 Personal loan - Market size and forecast 2023-2028
7.5 Mortgages - Market size and forecast 2023-2028
7.6 Debit and credit cards - Market size and forecast 2023-2028
7.7 Others - Market size and forecast 2023-2028
7.8 Market opportunity by Service

8 Market Segmentation by Channel

8.1 Market segments
8.2 Comparison by Channel
8.3 Direct sales - Market size and forecast 2023-2028
8.4 Distributor - Market size and forecast 2023-2028
8.5 Market opportunity by Channel

9 Customer Landscape

9.1 Customer landscape overview

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Bank of America Corp.
12.4 Barclays PLC
12.5 Capital One Financial Corp.
12.6 Citigroup Inc.
12.7 HSBC Holdings Plc
12.8 JPMorgan Chase and Co.
12.9 Key Corp.
12.10 Mitsubishi UFJ Financial Group Inc.
12.11 Regions Financial Corp.
12.12 The Charles Schwab Corp.
12.13 The PNC Financial Services Group Inc.
12.14 The Toronto Dominion Bank
12.15 Truist Financial Corp.
12.16 U.S. Bancorp
12.17 Wells Fargo and Co.

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations