A lead analyst at AMR highlighted that the automotive cybersecurity market in Malaysia is anticipated to grow at the fastest CAGR during the forecast period.
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Allied Market Research published a research report on the Southeast Asian commercial banking market. The findings of the report state that the global market for southeast Asian commercial banking generated $7.23 billion in 2020, and is projected to reach $32.41 billion by 2030, witnessing a CAGR of 16.6% from 2021 to 2030. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenarios for market players, investors, shareholders, and new entrants.
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The report provides detailed insights on drivers, restraints, and opportunities to help the market players in devising several growth strategies. An increase in the number of commercial bank establishments, a significant surge in infrastructure spending, rise in the number of mortgages and housing loans among people are expected to drive the growth of the Southeast Asia commercial banking market. On the other hand, the risk of robbery and fraud is expected to hinder growth to some extent. However, the growth of the economy and increased consumer spending is expected to create ample opportunities for the industry.
“The commercial banking market in Southeast Asia is experiencing significant growth and is expected to grow considerably in the next few years. The evolution of commercial banking in the BFSI sector provides lucrative opportunities to all kinds of enterprises to undertake funds from commercial banks and use them productively to contribute to the economy’s growth,” says Aarti Goswami, Research Analyst, BFSI at Allied Market Research.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the Southeast Asian commercial banking market. The outbreak of COVID-19 has had a positive impact on the growth of the Southeast Asian commercial banking market, owing to the remarkable role of commercial banks in Southeast Asia in aiding government initiatives and introducing new initiatives for supporting their customers during the pandemic period. In addition, different teams were empowered to make key decisions as well as communicate COVID-19 responses quickly and effectively across the organization. Thus, the market is expected to grow exponentially.
The report offers detailed segmentation of the Southeast Asian commercial banking market based on products, applications, and countries. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue-generating segments to accomplish growth in the future.
Based on products, the commercial lending segment held the dominating market share in 2021, holding nearly one-fourth of the global market. The project finance segment, on the other hand, is expected to contribute toward the largest share during the forecast period.
Based on application, the healthcare segment held the dominating market share in 2021, holding nearly one-third of the global market. The transportation and logistics segment, on the other hand, is expected to cite the fastest CAGR of 21.2% during the forecast period.
Based on country, the market across China held the largest market share in 2021, holding more than one-third of the global market. Malaysia, on the other hand, is expected to cite the fastest CAGR of 23.5% during the forecast period.
The key players analyzed in the southeast Asian commercial banking market report include CIMB GROUP HOLDINGS BERHAD, Malayan Banking Berhad, Citigroup, Inc., Public Bank Berhad, DBS Bank Ltd, HSBC Group, OCBC Bank, United Overseas Bank Limited, PT Bank Mandiri (Persero) Tbk., and PT.Bank Rakyat Indonesia (Persero) Tbk.
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