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Report Overview

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

North America Financial Services Market Outlook

The North America financial services market size is projected to grow at a CAGR of 7.01% between 2025 and 2034.

Key Takeaways:

  • The U.S. Currency Education Program recorded $2,259.3 billion in total currency in circulation in 2022.
  • As of October 2023, the Federal Deposit Insurance Corporation (FDIC), a government agency, counted 4,614 institutions in the United States.
  • In 2022, the Canadian Bankers Association reported 5,656 bank branches across Canada, enhancing the financial services market.

Mutual funds contribute to the North America financial services market growth by offering lower investment minimums in comparison to direct investment in individual stocks or bonds

Mutual funds provide diversification by combining investors' funds into various assets, minimizing investment risks. Managed by professionals, they offer expertise without requiring micromanagement. With liquidity, investors can easily buy or sell shares, and lower investment minimums enhance accessibility to many investors.

Insurance safeguards against risks such as property damage, health issues, disability, and death, lessening financial repercussions. It furnishes financial security and assurance to individuals and families amid crises. Some policies also enable long-term savings and wealth accumulation, while distributing risk across a broad pool for affordability and accessibility.

In September 2023, IG Wealth Management ("IG") unveiled the inauguration of the Private Company Advisory Business, integrated into Investors Group Securities Inc. This service delivered comprehensive guidance to Canadian business proprietors. Given an estimated 76% planning to sell their businesses, amounting to over $2 trillion, IG aimed to assist small to medium-sized business owners in succession planning.

Market Segmentation

North America Financial Services Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

  • Banking
  • Advisory
  • Wealth Management
  • Mutual Funds
  • Insurance
  • Others

Market Breakup by Organization Size

  • Small and Medium Enterprises
  • Large Enterprises

Market Breakup by End Use

  • Business-to-Business (B2B)
  • Business-to-Consumer (B2C)

Market Breakup by Country

  • United States of America
  • Canada

The North America financial services market key players are Goldman Sachs Group Inc., Morgan Stanley & Co. International Plc, US Bancorp, JPMorgan Chase & Co.  American Express Company, Citigroup Inc., Wells Fargo & Co., Metlife Inc., PwC LLP and Bank of America Corp. among others.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2024
Forecast Period 2025-2034
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Organization Size
  • End Use
  • Region
Breakup by Type
  • Banking 
  • Advisory
  • Wealth Management
  • Mutual Funds
  • Insurance
  • Others
Breakup by Organization Size
  • Small and Medium Enterprises
  • Large Enterprises
Breakup by End Use
  • Business-to-Business (B2B)
  • Business-to-Consumer (B2C)
Breakup by Region
  • United States of America
  • Canada
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Goldman Sachs Group Inc.
  • Morgan Stanley & Co. International Plc
  • US Bancorp
  • JPMorgan Chase & Co.
  • American Express Company
  • Citigroup Inc.
  • Wells Fargo & Co.
  • Metlife Inc.
  • PwC LLP
  • Bank of America Corp.
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

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Key Questions Answered in the Report

The market is projected to grow at a CAGR of 7.01% between 2025 and 2034.

The financial services market is categorised according to type, which includes banking, advisory, wealth management, mutual funds, insurance, and others.

The key players are Goldman Sachs Group Inc., Morgan Stanley & Co. International Plc, US Bancorp, JPMorgan Chase & Co.  American Express Company, Citigroup Inc., Wells Fargo & Co., Metlife Inc., PwC LLP and Bank of America Corp. among others.

Based on the organisation, the market is divided into small and medium enterprises and large enterprises.

The market is broken down into the United States and Canada.

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