Allied Market Research

2024

Private Banking Market

Private Banking Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type and, by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

BI : Financial Services

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Author's: | Onkar Sumant
Publish Date:

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Private banking is the provision of personalized financial services and products to high-net-worth individuals (HNWI) clients of a retail bank or other financial institution. It offers a wide range of wealth management services such as investing & portfolio management, tax services, insurance, and trust & estate planning. Furthermore, private banking provides clients with a variety of benefits, privileges, and personalized service, which has become an increasingly valuable commodity in an automated, digitized banking ecosystem. An HNWI, for instance, may be granted exclusive access to a hedge fund, a private equity partnership, or another alternative investment. Therefore, favorable rates, discounted charges, and easy accessibility of the financing services are expected to boost the market growth of the private banking market in the near future.

The Private Banking Market market is segmented on the basis of Type, Application, and Region, industry vertical and region. Based on type, the market is divided into Asset Management Service, Insurance Service, Trust Service, Tax Consulting, and Real Estate Consulting. In terms of application, the market is categorized into Personal and Enterprise. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

COVID-19 scenario analysis

The sudden spread of COVID-19 crisis has a negative impact on various countries. Many countries have taken stringent measures to combat the viral infection and limited its human-to-human spread, including the closure of numerous commercial and industrial operations. As a result, the private banking industry has been moderately impacted by the consequences of this global event.

Furthermore, the halt in various heavy-duty end-user operations, such as manufacturing industries, processing facilities, and the temporary closure of large commercial offices, has resulted in an unprecedented drop in electricity demand.

This has resulted in hampering the HNWI profit ratio. Therefore, these factors have affected the market moderately.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Increasing demand for private equity, higher transparency due to the adoption of digitalization in the financing sector, and the need for better consumer experience are driving the growth of the market. However, foreign exchange rates & interest rates and the requirement for significant capital and high technical expertise may restrict market growth. Contrarily, rise in the number of startups and businesses across the globe, which are focused on accelerating their revenue and profitability, is expected to offer great opportunities for market growth.

The private banking market trends are as follows:

Increasing demand for private equity:

The private equity industry is regarded as a major source of financing for buyouts among start-up companies, private middle-market companies, financial distress companies, and public companies. Furthermore, private equity firms' assets under management increased to $2400 billion in 2015, up from $926 billion in 2008. Furthermore, private equity firms have recently shifted to the acquisition of entire public companies to accelerate growth. The private equity ability to provide high returns is fueled by several factors, including a strong emphasis on cash flow, margin improvement, and flexible&stringent public sector regulations. Therefore, these factors are the major factors for the growth of the private banking market.

Requirement of significant capital & high technical expertise may hinder growth:

The capital-intensive nature of advanced technology operations as well as the high risks associated with maintaining the required equipment for longer periods of time without optimum proficiency may result in failure to stifle the growth of the private banking market. Furthermore, lack of appropriate technical knowledge gained while installing costly equipment and connecting hardware combined with inaccuracies in prioritizing operational layouts can hamper the efficiency of the system,resulting in limited repair times and over-maintenance costs. Therefore, this factor may result in the slowdown of the private banking market.

Key benefits of the report:

  • This study presents analytical depiction of the private banking market along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.     
  • The current market is quantitatively analyzed to highlight the private banking market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
  • The report provides a detailed market analysis depending on the present and future competitive intensity of the market.

Questions answered in the private banking market research report:    

  • Which are the leading players active in the private banking market?
  • What would be the detailed impact of COVID-19 on the private banking market?
  • What are current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the private banking market?
  • What are the projections for the future that would help in taking further strategic steps?

Private Banking Market Report Highlights

Aspects Details
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By Type
  • Asset Management Service
  • Insurance Service
  • Trust Service
  • Tax Consulting
  • Real Estate Consulting
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By Application
  • Personal
  • Enterprise
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By Region
  • North America  (U.S, Canada)
  • Europe  (UK, Germany, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
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Key Market Players

Royal Bank of Canada, UBS, Goldman Sachs, Charles Schwab & Co, Stanley,, JPMorgan Chase & Co, JuliusBaer Group, Citigroup Inc, CREDIT SUISSE GROUP., Bank of America Corporation, Morgan

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Private Banking Market

Global Opportunity Analysis and Industry Forecast, 2023-2032