Companies In The Financial Services Market Invest In Big Data Analytics For Incredible Client Insights

Financial Services Market Report 2021: COVID-19 Impact And Recovery To 2030

Financial Services Global Market Report 2021: COVID-19 Impact And Recovery To 2030

The Business Research Company’s Financial Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030

LONDON, GREATER LONDON, UK, May 26, 2021 /EINPresswire.com/ — Many wealth management companies are investing in big data analytics capabilities to generate insights around clients. Big data solutions are being implemented to deliver insights around client segments, product penetration and analyze training program effectiveness. These technologies are being implemented to assess existing and prospective clients’ inclination to purchase various products and services being offered by a wealth management company, their lifetime value, investment pattern, and the ability of the client to take risks. They are also helping wealth management companies to track business performance, increase client acquisition and retention rates, increase sales, and offer real time investment advice.

For instance, CargoMetrics, an investment firm based in Boston used Automatic Identification System (AIS), to collect data on commodity movement such as cargo location and cargo size to develop analytics platform for trading commodities, currencies and equity index funds. This tool was also sold to other hedge funds and wealth managers.

Read More On The Global Financial Services Market Report:
https://www.thebusinessresearchcompany.com/report/financial-services-global-market-report-2020-30-covid-19-impact-and-recovery

The global financial services market is expected to grow from $20.49 trillion in 2020 to $22.52 trillion in 2021 at a compound annual growth rate (CAGR) of 9.9%. Financial services market growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The financial services market is expected to reach $28.53 trillion in 2025 at a CAGR of 6%.

Major companies in the financial services industry analysis report include United health Group, Industrial and Commercial Bank of China, AXA, Agricultural Bank of China, Bank of China.

The global financial services market is segmented by type into lending and payments, insurance, reinsurance and insurance brokerage, investments, foreign exchange services, by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce, others, and by nature: organic, conventional.

Subsegments covered in the global financial services market report are lending, cards & payments, insurance, insurance brokers & agents, reinsurance, wealth management, securities brokerage and stock exchange services, investment banking.

Financial Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides financial services market overview, forecast financial services market size and growth for the whole market, financial services market segments, and geographies, financial services market trends, financial services market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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