$6.0tr
$X.Xtr
8m
988k
$XXX.Xbn
Revenue growth for the Finance and Insurance sector has varied in recent years, as a result of differing economic trends. The sector plays a vital role in facilitating necessary financial transactions between consumers, businesses and government agencies. The core services provided by operators in this sector include providing insurance products needed by businesses and consumers to legally operate corporations and assets; offering, borrowing and depository services needed to finance new projects and safely save money; and investing to create and preserve investors' assets.A wide range of operators in the sector benefited from improving macroeconomic conditions until 2019, this trend reserved in 2020 as a result of the COVID-19 pandemic. In 2022, the Fed began increasing interest rates in an effort curb historically high inflation. In the past five years, industry revenue grew at a CAGR of 1.3% to $6.0 trillion, including 0.2% in 2023 alone, when profit margins will drop to 22.6%.Sector revenue will increase at a CAGR of 1.5% to $6.5 trillion over the five years to 2028, when profit margins will increase to 22.8%. As the economy continues to recover from the pandemic, per capita disposable income is expected to increase. This will likely lead to increased financial activity by consumers, which will likely be processed and facilitated by operators in the sector. The Federal Reserve is expected to continue raising rates for a couple of years. Benefitting industry operators by increasing interest income. Acquiring financial technology start-ups to compete in a changing technological and financial environment will increase.
Industry revenue has grown at a CAGR of 1.3 % over the past five years, to reach an estimated $6.0tr in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
Unitedhealth Group Incorporated | 287,532.5 | 20,013.0 | 7.0 | |
Jpmorgan Chase & Co | 101,537.3 | 45,102.1 | 44.4 | |
State Farm Mutual Automobile Insurance Co | 81,234.5 | 2,561.6 | 3.2 |
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Finance and Insurance in the US
Industry revenue is measured across several distinct product and services lines, including Insurance and related activities, Credit intermediation and related activities and Securities, commodity contracts and other financial investments. Insurance and related activities is the largest segment of the Finance and Insurance in the US.
The insurance and related activities segment faces relative consistent demand across the business cycle
This sector comprises operators primarily engaged in financial transactions and in facilitating financial transactions. Three principal types of activities are identified, including raising funds by taking deposits, issuing securities and, in the process, incurring liabilities.
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NAICS 52 - Finance and Insurance in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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The sector offers a wide array of products and services to downstream consumers, making it difficult for any single operator to control a large portion of the total sector.
Learn about the performance of the top companies in the industry.
Major companies are adapting to higher interest rates and less liquidity. After nearly 15 years of quantities easing, the Federal Reserve is reducing its balance sheet to hel...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Regulation is still heavily influenced by both the Great Depression and Great Recession. The government wants to ensure financial crises don’t occur.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The Federal Reserve started to increase interest rates in 2022 to control inflation. This will have mixed results for the various industries in this sector.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
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The market size of the Finance and Insurance in the US industry in United States is $6.0tr in 2024.
There are 988k businesses in the Finance and Insurance in the US industry in United States, which has declined at a CAGR of 0.1 % between 2018 and 2023.
The market size of the Finance and Insurance in the US industry in United States has been growing at a CAGR of 1.3 % between 2018 and 2023.
Over the next five years, the Finance and Insurance in the US industry in United States is expected to grow.
The biggest companies operating in the Finance and Insurance market in United States are Unitedhealth Group Incorporated, Jpmorgan Chase & Co and State Farm Mutual Automobile Insurance Co
National and state commercial banks and Federal and state savings banks are part of the Finance and Insurance in the US industry.
The company holding the most market share in United States is Unitedhealth Group Incorporated.
The level of competition is high and steady in the Finance and Insurance in the US industry in United States.