NEW YORK, Jan. 23, 2024 /PRNewswire/ — The community banking market is estimated to grow by USD 207.21 billion from 2022 to 2027, growing at a CAGR of 5.3%. The community banking market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer community banking are Bay Community Bancorp., BCB Bank, Bendigo and Adelaide Bank Ltd., Beyond Bank Australia Ltd., Coastal Community Bank, CSBS, Dime Community Bancshares Inc., First Community Bankshares Inc., Fiserv Inc., Flint Community Bank, Holland and Knight LLP, HSBC Holdings Plc, JPMorgan Chase and Co., Morton Community Bank, PRIDE MICROFINANCE LTD., Sound Financial Bancorp Inc., Summit Community Bank, The Co-operative Bank Plc, West Central Georgia Bank, and Wintrust Financial Corp. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying
Technavio has announced its latest market research report titled Global Community Banking Market 2023-2027
Some major Company Offerings include
Bay Community Bancorp. – The company offers community banking services that provide financial loans for construction projects.
BCB Bank- The company offers community banking services that provide financial support to construction businesses, commercial mortgages, and small to medium business enterprises.
Bendigo and Adelaide Bank Ltd. – The company offers community banking services that provide financial loans to doctors, hospitals, diagnostic centers, nursing homes along medical clinics.
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By Geography, the market is classified as North America, APAC, Europe, South America, and Middle East and Africa. North America will have the largest share. The region will account for 53% of growth during the forecast period. Factors like the rapid expansion of digital connectivity and the presence of well-known vendors fuel growth. Furthermore, other factors include the proliferation of numerous online trading and financial platforms, technological advancements, modifications to the business and financial environment, and the existence of local and international players. Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.
The rise in the adoption of microlending in developing nations drives growth, and the rising adoption of digital platforms is an emerging trend. However, the lack of awareness about community banking services hampers growth.
Technavio Research experts have provided more insights on the market share of segments – View a Free Sample Report
Segment Overview
Community banking in metropolitan areas thrives on modern preferences, driven by mobile banking platforms and e-wallets. The segment offers local branches, small business loans, retail and personal banking services, mortgage and commercial loans, online and mobile banking, checking and savings accounts, CDs, wealth management, financial advisory, ATM services, consumer loans, local economy support, regulatory compliance, credit analysis, branch management, digital transformation, financial literacy programs, risk management, local business partnerships, community outreach, e-banking security, competitive interest rates, asset management, FDIC insurance, and sustainable banking practices.
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The digital banking platforms market size is expected to increase by USD 21.07 billion. from 2022 to 2027, and the growth momentum will accelerate at a CAGR of 14.52%.
The merchant banking services market is estimated to grow at a CAGR of 6.13% between 2021 and 2026. The size is forecast to increase by USD 24.46 billion.
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Segmentation by Area
7 Segmentation by Sector
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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