The United Kingdom financial services market reached approximately USD 175.34 Billion in 2024. The market is projected to grow at a CAGR of 5.90% between 2025 and 2034, reaching a value of around USD 311.06 Billion by 2034.
Base Year
Historical Year
Forecast Year
The Invesco UK Smaller Companies Equity Fund (UK) witnessed a growth of 9.32 per cent in May 2024, exceeding the performance of all the funds in the UK small-cap equity category.
Scotland is expected to witness the highest CAGR of 6.4 over the forecast period of 2025-2034.
As per the industry reports, the overall fintech investments in the UK were £9.75 billion in 2023.
The Link ATM network in the UK is carrying out trials on an innovative cash machine that can accept deposits from several different banks as of June 2024.
Value in USD Billion
2025-2034
United Kingdom Financial Services Market Outlook
*this image is indicative*
| United Kingdom Financial Services Market Report Summary | Description | Value |
| Base Year | USD Billion | 2024 |
| Historical Period | USD Billion | 2018-2024 |
| Forecast Period | USD Billion | 2025-2034 |
| Market Size 2024 | USD Billion | 175.34 |
| Market Size 2034 | USD Billion | 311.06 |
| CAGR 2018-2024 | Percentage | XX% |
| CAGR 2025-2034 | Percentage | 5.90% |
| CAGR 2025-2034 - Market by Region | Scotland | 6.4% |
| CAGR 2025-2034 - Market by Region | Northern Ireland | 5.4% |
| CAGR 2025-2034 - Market by Type | Banking | 6.1% |
| CAGR 2025-2034 - Market by Size of Business | Small and Mediium Business | 6.5% |
| Market Share by Region | England | 83.9% |
Rising demand for fintech and digital payment platforms, growing popularity of personalised banking services, and data-protection laws are some of the prominent market drivers. The inclusion of technology in financial services, specifically through fintech and digital banking platforms such as mobile banking, online investments, and digital payments, is revolutionising the market.
The growing digitalisation of financial services has led to a greater emphasis on data security and cybersecurity. Financial institutions are making significant investments in high-end security technologies to protect confidential financial information and adhere to regulatory requirements. The digital payment systems are also experiencing an upward trend in the market. The rise in popularity of contactless payments, e-wallets, and real-time payments is increasing, fuelled by consumer demand for convenience and efficiency.
Moreover, the integration of AI and automation in banking services is transforming various aspects of financial services, from customer service, through chatbots and automated replies, to back-end operations like fraud detection.
“United Kingdom Financial Services Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Size of Business
Market Breakup by End Use
Market Breakup by Region
| CAGR 2025-2034 - Market by | Type |
| Banking | 6.1% |
| Others | 5.7% |
| Advisory | XX% |
| Wealth Management | XX% |
| Mutual Funds | XX% |
| Insurance | XX% |
| CAGR 2025-2034 - Market by | Size of Business |
| Small and Mediium Business | 6.5% |
| Large Business | XX% |
| CAGR 2025-2034 - Market by | Region |
| Scotland | 6.4% |
| Northern Ireland | 5.4% |
| England | XX% |
| Wales | XX% |
Based on type, the market is divided into banking, advisory, wealth management, mutual funds, and insurance, among others. The banking sector is expected to grow at a CAGR of 6.1% over the forecast period of 2025-2034 as British banks provide a wide range of services, encompassing personal banking, mortgages, loans, and other specialised financial services. These banks are well-known for their increased adoption of high-end financial technologies, which not only enhances their service offerings and operational efficiency but also appeal to a wide range of customers.
| Market Share by | Region |
| England | 83.9% |
| Wales | XX% |
| Scotland | XX% |
| Northern Ireland | XX% |
Further, mutual funds are expected to grow at a CAGR of 6.0% over the forecast period of 2025-2034. By distributing investors' money among a variety of assets, mutual funds reduce the risk associated with investing. They provide knowledge without necessitating micromanagement since they are professionally run.
The market participants are readily investing in digital technologies to meet the evolving regulatory landscape.
*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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In 2024, the market reached an approximate value of USD 175.34 Billion.
The United Kingdom financial services market is estimated to grow at a CAGR of 5.90% between 2025 and 2034.
The market is estimated to witness a healthy growth during 2025-2034 to reach around USD 311.06 Billion by 2034.
The market is being driven due to rising demand for fintech and digital payment platforms, the growing popularity of personalised banking services, and data protection laws.
The key trends aiding the market include the growing digitalisation of financial services, integration of AI and automation in banking services, and implementing sustainability initiatives in the financial business model.
Regions considered in the market are England, Wales, Scotland, and Northern Ireland.
Based on size of business, market segmentations include small and medium business and large business.
Various end uses are business-to-business (B2B) and business-to-consumer (B2C).
The major players in the market are JPMorgan Chase & Co., HSBC Holdings plc, Goldman Sachs Group Inc., Barclays plc¸Citigroup Inc., Bank of America Corporation, Morgan Stanley, Aviva plc, American Express Company, and Axa SA, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| 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:
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| Breakup by Type |
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| Breakup by Size of Business |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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