Universal Banking Market to Reach $8.3 Trillion, Globally, by 2032 at 10.9%

The global universal banking market is experiencing growth due to convenience for customers and competitive advantage.

PORTLAND, Ore., March 4, 2025 /PRNewswire/ — Allied Market Research published a report, titled, “Universal Banking Market by Service (Commercial Banking Service, Investment Banking Service, Retail Banking Service and Others), and Function (Deposit and Lending, Wealth Management, Asset Management and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the universal banking market was valued at $3.2 trillion in 2023, and is estimated to reach $8.3 trillion by 2032, growing at a CAGR of 10.9% from 2024 to 2032.

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Prime determinants of growth 

However, regulatory constraints hinder market growth to some extent. On the contrary, technological advancements and integrated financial solutions offer remunerative opportunities for the expansion of the global universal banking market.

Report coverage & details: 

Segment Highlights 

The commercial banking segment held the largest market share in 2023 

By service, the commercial banking segment held the largest market share in 2023, owing to its important role in providing comprehensive financial services to businesses. It offers a wide range of products such as business loans, credit lines, cash management services, and treasury solutions, which are essential for the daily operations and growth of businesses. In addition, the increasing demand from small and medium-sized enterprises (SMEs) and large corporations for tailored financial solutions, along with the growth in global trade and economic activities, thereby significantly contributed to the dominance of the commercial banking segment in the universal banking market.

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The deposits and lending segment held the largest market share in 2023 

By function, the deposits and lending held the largest market share in 2023, owing to its essential role in providing fundamental banking services. It includes savings and checking accounts, personal and business loans, and mortgages, which are vital for daily financial operations and economic growth. The ability to attract deposits ensures a stable funding source for banks, while lending activities generate substantial interest income, driving profitability. The widespread necessity and usage of these services make the segment dominant in the universal banking market

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