United Kingdom Financial Services Market Report and Forecast 2025-2034
Description
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.
United Kingdom Financial Services Market Growth
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 Industry Segmentation
“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
Banking
Advisory
Wealth Management
Mutual Funds
Insurance
Others
Market Breakup by Size of Business
Small and Medium Business
Large Business
Market Breakup by End Use
Business-to-Business (B2B)
Business-to-Consumer (B2C)
Market Breakup by Region
England
Wales
Scotland
Northern Ireland
United Kingdom Financial Services Market Share
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.
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.
Leading Companies in the United Kingdom Financial Services Market
The market participants are readily investing in digital technologies to meet the evolving regulatory landscape.
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
Axa SA
Others
United Kingdom Financial Services Market Growth
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 Industry Segmentation
“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
Banking
Advisory
Wealth Management
Mutual Funds
Insurance
Others
Market Breakup by Size of Business
Small and Medium Business
Large Business
Market Breakup by End Use
Business-to-Business (B2B)
Business-to-Consumer (B2C)
Market Breakup by Region
England
Wales
Scotland
Northern Ireland
United Kingdom Financial Services Market Share
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.
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.
Leading Companies in the United Kingdom Financial Services Market
The market participants are readily investing in digital technologies to meet the evolving regulatory landscape.
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
Axa SA
Others
Table of Contents
106 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Europe Financial Services Market Overview
- 5.1 Key Industry Highlights
- 5.2 Europe Financial Services Historical Market (2018-2024)
- 5.3 Europe Financial Services Market Forecast (2025-2034)
- 6 United Kingdom Financial Services Market Overview
- 6.1 Key Industry Highlights
- 6.2 United Kingdom Financial Services Historical Market (2018-2024)
- 6.3 United Kingdom Financial Services Market Forecast (2025-2034)
- 7 United Kingdom Financial Services Market by Type
- 7.1 Banking
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Advisory
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 Wealth Management
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Mutual Funds
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Insurance
- 7.5.1 Historical Trend (2018-2024)
- 7.5.2 Forecast Trend (2025-2034)
- 7.6 Others
- 8 United Kingdom Financial Services Market by Size of Business
- 8.1 Small and Medium Business
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Large Business
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 9 United Kingdom Financial Services Market by End Use
- 9.1 Business-to-Business (B2B)
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Business-to-Consumer (B2C)
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 10 United Kingdom Financial Services Market by Region
- 10.1 England
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Wales
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Scotland
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 Northern Ireland
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators of Demand
- 11.4 Key Indicators of Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 JPMorgan Chase & Co.
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 HSBC Holdings plc
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Goldman Sachs Group Inc.
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Barclays plc
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Citigroup Inc.
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 Bank of America Corporation
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Morgan Stanley
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 Aviva plc
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 American Express Company
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 Axa SA
- 12.5.10.1 Company Overview
- 12.5.10.2 Product Portfolio
- 12.5.10.3 Demographic Reach and Achievements
- 12.5.10.4 Certifications
- 12.5.11 Others
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.
