Investment Banking Market Report 2025 (Global Edition)

Global Investment Banking Market Report 2025 Market Size Split by Type (Mergers And Acquisitions Advisory, Debt Capital Markets Underwriting, Equity Capital Markets Underwriting, Financial Sponsor/ Sy...

Investment Banking Market Report Description

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Competitive Landscape of the Investment Banking Market

The competitive landscape of the investment banking market is characterized by intense rivalry among firms vying for market share and client acquisitions. Players compete on factors such as service quality, expertise, pricing, and technological innovation to differentiate themselves and gain a competitive edge in the dynamic industry landscape.

Investment Banking Industry News 

In August 2023, HSBC and B2B fin-tech Trade shift revealed their partnership to establish a new jointly-owned venture concentrating on embedded finance solutions and financial services apps. HSBC's commitment involves a $35 million investment in Trade shift, occurring in two stages, alongside joining its board. This collaboration forms part of a funding round anticipated to secure at least $70 million, drawing contributions from HSBC and other investors.

(Source:https://www.hsbc.com/news-and-views/news/media-releases/2023/hsbc-announces-plans-for-new-joint-venture-with-tradeshift#:~:text=HSBC%20and%20B2B%20fintech%20Tradeshift,and%20will%20join%20its%20board.)     

Top Companies Market Share in Investment Banking Industry: (In no particular order of Rank)

• UBS AG
• Citigroup Inc.
• HSBC Group
• Barclays PLC
• Goldman Sachs Group
• Deutsche Bank AG
• BANK OF AMERICA CORPORATION
• Morgan Stanley
• JPMorgan Chase & Co
• Credit Suisse Group
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of Investment Banking 

Which Region Dominates the Investment Banking Market in 2024?

According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to several factors. Firstly, the region boasts a mature financial infrastructure, including well-established stock exchanges and regulatory frameworks, fostering robust deal activity and capital raising. Secondly, a strong economy and stable political environment encourage corporate expansion and investment, driving demand for advisory services and financing solutions. Additionally, the presence of numerous multinational corporations and technology firms fuels mergers and acquisitions, contributing to higher sales. Furthermore, technological innovation and a highly skilled workforce give North American investment banks a competitive advantage, attracting clients globally and further solidifying the region's dominance in the market.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is the fastest-growing region. Firstly, the region's emerging economies present vast opportunities for investment and capital deployment, fuelled by urbanization, infrastructure development, and rising consumer spending. Secondly, supportive government policies and regulatory reforms encourage foreign investment and foster a conducive business environment, driving deal activity and capital inflows. Moreover, the proliferation of technology and digital finance solutions enhances accessibility to financial services, stimulating demand for investment banking expertise. Additionally, a burgeoning middle class and increasing entrepreneurial activity contribute to a thriving ecosystem for mergers, acquisitions, and capital markets transactions, propelling sales growth in the Asia-Pacific region.

The current report Scope analyzes Investment Banking Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Investment Banking Market

According to Cognitive Market Research, the global Investment banking market size was estimated at USD 135121.2 Million out of which North America held the major market of around 40% of the global revenue with a market size of USD 54048.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.8% from 2024 to 2031. Sales in North America's investment banking sector are set to soar due to several factors. Firstly, robust economic growth and a favourable regulatory environment spur increased corporate activity, including mergers, acquisitions, and IPOs. Moreover, technological innovation drives demand for digital banking solutions, enhancing efficiency and expanding market reach. Additionally, the region's dominance in sectors like technology and healthcare fuels deal-making, attracting substantial investment. With debt capital markets underwriting holding the highest market share, North America's continued focus on debt financing for corporate expansion and infrastructure development will drive further growth in this segment.

• According to Cognitive Market Research, The United States investment banking market had a market share of USD 42,644.25 million in 2024 and is projected to grow at a CAGR of 6.6% during the forecast period. Economic recovery spurs mergers, acquisitions, and capital markets activity. Technological innovation enhances efficiency. Increased corporate investment drives demand for advisory services. Robust financial infrastructure attracts global capital.
• Canada investment banking market had a market share of USD 6,485.82 million in 2024 and is projected to grow at a CAGR of 7.6% during the forecast period. Growing tech sector fosters IPOs and venture capital deals. Resource-rich economy drives demand for project financing. Stable regulatory environment attracts global investors. M&A activity accelerates across industries.
• Mexico investment banking market had a market share of USD 4,918.41 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period.

 

Europe Investment Banking Market

According to Cognitive Market Research, with a market value of USD 135121.2 million in 2024 and projected to expand at a compound annual growth rate (CAGR) of 7.1% from 2024 to 2031. Europe accounted for a share of around 30% of the global market size of USD 40536.36 million. Europe's investment banking sales are poised for growth due to multiple catalysts. Firstly, on-going economic recovery following the pandemic stimulates demand for financing and advisory services across various industries. Secondly, regulatory changes and Brexit-related shifts prompt restructuring activities and cross-border transactions, driving deal volumes. Furthermore, increasing interest in sustainable finance and ESG investments creates opportunities for advisory services in green bonds and sustainability-linked loans. With equity capital markets underwriting dominating the market, Europe's thriving start up ecosystem and tech sector will propel further growth in this segment.

• The United Kingdom investment banking market had a market share of USD 6,810.11 million in 2024 and is projected to grow at a CAGR of 7.9% during the forecast period. Brexit uncertainties lead to strategic restructurings. London remains a global financial hub. Fin-tech innovation transforms banking landscape. Infrastructure investments drive project finance deals. Growing demand for sustainable finance solutions.
• France investment banking market had a market share of USD 3,729.35 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period.
• Germany investment banking market had a market share of USD 8,026.20 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. Manufacturing strength drives demand for capital investment. Technological innovation fosters digital banking solutions. Strong export market fuels cross-border transactions. Green finance initiatives gain traction. Increased focus on ESG investing.
• Italy investment banking market had a market share of USD 3,486.13 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period.
• Russia investment banking market had a market share of USD 6,283.14 million in 2024 and is projected to grow at a CAGR of 6.1% during the forecast period.
• Spain investment banking market had a market share of USD 3,323.98 million in 2024 and is projected to grow at a CAGR of 6.2% during the forecast period.
• Luxembourg investment banking market had a market share of USD 1,256.63 million in 2024 and is projected to grow at a CAGR of 7.2% during the forecast period.
• Portugal investment banking market had a market share of USD 851.26 million in 2024 and is projected to grow at a CAGR of 6.9% during the forecast period.
• Greece investment banking market had a market share of USD 486.44 million in 2024 and is projected to grow at a CAGR of 7.4% during the forecast period.
• Rest of Europe investment banking market had a market share of USD 6,283.14 million in 2024 and is projected to grow at a CAGR of 5.8% during the forecast period.

 

Asia Pacific Investment Banking Market

According to Cognitive Market Research, the global Investment banking market size was estimated at USD 135121.2 Million out of which Asia Pacific held the market of around 23% of the global revenue with a market size of USD 31077.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.6% from 2024 to 2031. Sales in the Asia Pacific investment banking sector are primed for expansion due to several key drivers. Firstly, rapid economic growth and urbanization fuel demand for infrastructure financing and project development, driving deal activity. Secondly, increasing cross-border investments and trade agreements facilitate international mergers and acquisitions, creating opportunities for advisory services. Moreover, technological innovation and digitalization enhance access to financial services, particularly in emerging markets. With mergers and acquisitions advisory holding the highest market share, Asia Pacific's burgeoning start up ecosystem and cross-border expansion strategies will fuel further growth in this segment.

• According to Cognitive Market Research, China investment banking market had a market share of USD 13,985.04 million in 2024 and is projected to grow at a CAGR of 10.1% during the forecast period. Economic reforms drive IPOs and bond issuances. Tech sector expansion fuels venture capital investments. Belt and Road Initiative boosts infrastructure financing. Regulatory reforms attract foreign investors. Increasing demand for wealth management services.
• Japan investment banking market had a market share of USD 4,288.75 million in 2024 and is projected to grow at a CAGR of 9.1% during the forecast period.
• India investment banking market had a market share of USD 3,729.35 million in 2024 and is projected to grow at a CAGR of 12.4% during the forecast period. Rapid economic growth spurs corporate expansion. Government initiatives drive infrastructure investments. Rising middle class fuels demand for banking services. Fin-tech adoption increases financial inclusion. Robust capital markets attract foreign investors.
• South Korea investment banking market had a market share of USD 3,107.79 million in 2024 and is projected to grow at a CAGR of 9.7% during the forecast period.
• Australia investment banking market had a market share of USD 1,616.05 million in 2024 and is projected to grow at a CAGR of 10.3% during the forecast period.
• South East Asia investment banking market had a market share of USD 2,144.37 million in 2024 and is projected to grow at a CAGR of 11.6% during the forecast period.
• Rest of Asia Pacific investment banking market had a market share of USD 2,206.53 million in 2024 and is projected to grow at a CAGR of 10.4% during the forecast period.

 

South America Investment Banking Market

According to Cognitive Market Research, the global Investment banking market size was estimated at USD 135121.2 Million out of which Latin America market of around 5% of the global revenue with a market size of USD 6756.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031. Latin America's investment banking sales are set to surge due to various factors. Firstly, economic reforms and privatization initiatives stimulate investment in sectors like energy, infrastructure, and telecommunications. Secondly, increasing investor interest in emerging markets drives demand for capital raising and advisory services. Moreover, growing fin-tech adoption and digital banking solutions expand access to financial services, driving transaction volumes. With debt capital markets underwriting holding the highest market share, Latin America's reliance on debt financing for infrastructure projects and corporate expansions will fuel further growth in this segment.

• According to Cognitive Market Research, Brazil investment banking market had a market share of USD 2,891.59 million in 2024 and is projected to grow at a CAGR of 8.6% during the forecast period. Economic recovery drives M&A and capital raising. Privatization initiatives create investment opportunities. Fin-tech adoption enhances access to financial services. Sustainable finance gains momentum. Growing demand for debt and equity financing.
• Argentina investment banking market had a market share of USD 1,135.02 million in 2024 and is projected to grow at a CAGR of 8.9% during the forecast period. Economic reforms attract foreign investment. Privatization efforts create opportunities. Growing tech sector drives IPOs. Infrastructure projects require project financing. Increasing demand for investment advisory services.
• Colombia investment banking market had a market share of USD 601.29 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period.
• Peru investment banking market had a market share of USD 554.00 million in 2024 and is projected to grow at a CAGR of 8.2% during the forecast period.
• Chile investment banking market had a market share of USD 486.44 million in 2024 and is projected to grow at a CAGR of 8.3% during the forecast period.
• Rest of Latin America investment banking market had a market share of USD 1,087.73 million in 2024 and is projected to grow at a CAGR of 7.1% during the forecast period.

 

Middle East and Africa Investment Banking Market

According to Cognitive Market Research, the global Investment banking market size was estimated at USD 135121.2 Million out of which Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 2702.42 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.3% from 2024 to 2031. The investment banking sector in the Middle East and Africa (MEA) is poised for robust growth driven by several factors. Firstly, extensive infrastructure projects and economic diversification efforts across the region create demand for financing and advisory services. Secondly, geopolitical stability and regulatory reforms attract foreign investment, fostering cross-border transactions and mergers. Moreover, the region's burgeoning tech and renewable energy sectors present opportunities for capital raising and strategic partnerships. With mergers and acquisitions advisory holding the highest market share, MEA's increasing focus on diversifying economies and fostering innovation will drive further growth in this segment.

• According to Cognitive Market Research, GCC Countries investment banking market had a market share of USD 1,156.64 million in 2024 and is projected to grow at a CAGR of 9.1% during the forecast period. Diversification efforts drive investment in non-oil sectors. Strong government support for infrastructure projects. Islamic finance gains prominence. Fin-tech adoption accelerates. Increasing demand for wealth management services.
• Egypt investment banking market had a market share of USD 283.75 million in 2024 and is projected to grow at a CAGR of 8.6% during the forecast period.
• South Africa investment banking market had a market share of USD 426.98 million in 2024 and is projected to grow at a CAGR of 9.3% during the forecast period. Economic recovery spurs corporate restructuring. Infrastructure investments drive project finance deals. Mining sector expansion fuels M&A activity. Fin-tech innovation transforms banking landscape. Increased focus on sustainable finance solutions.
• Turkey investment banking market had a market share of USD 232.41 million in 2024 and is projected to grow at a CAGR of 7.8% during the forecast period.
• Nigeria investment banking market had a market share of USD 283.75 million in 2024 and is projected to grow at a CAGR of 7.4% during the forecast period.
• Rest of MEA investment banking market had a market share of USD 318.89 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period.

 

Investment Banking Market Analysis

Investment Banking Market Segment Analysis 

According to Cognitive Market Research, debt capital markets underwriting held the major market share. Firstly, the continued low-interest-rate environment encourages corporations to leverage debt financing for expansion and refinancing, driving demand for underwriting services. Additionally, the economic recovery following the pandemic prompts companies to seize growth opportunities, leading to higher issuance of bonds and loans. Moreover, the growing popularity of sustainable finance drives issuance of green bonds and social bonds, further boosting sales in this segment.

Equity capital markets underwriting is the fastest-growing category over the forecast period. Sales in equity capital markets underwriting are expected to surge for various reasons. Firstly, a buoyant stock market and robust investor sentiment create a favorable environment for initial public offerings (IPOs) and secondary equity offerings, driving demand for underwriting services. Secondly, the emergence of innovative sectors such as technology, biotech, and clean energy fuels IPO activity among startups and growth companies. Additionally, pent-up demand from companies delaying IPOs during the pandemic contributes to a flurry of new listings, propelling sales growth in this segment.

• Mergers And Acquisitions Advisory
• Debt Capital Markets Underwriting
• Equity Capital Markets Underwriting
• Financial Sponsor/ Syndicated Loans

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Investment Banking Industry. Request a Free Sample PDF!

Investment Banking Market Segment Analysis 

According to Cognitive Market Research, corporate institutions hold a prominent market share. Sales to corporate institutions maintain prominence due to several reasons. Firstly, corporations regularly engage investment banks for strategic advisory services, mergers, acquisitions, and capital raising activities. Secondly, established relationships and on-going corporate finance needs ensure a steady stream of revenue from this segment. Additionally, large corporations often require complex financial solutions and tailored advisory services, contributing to sustained sales volume in this category.

Individuals is the fastest-growing category over the forecast period. Sales to individuals are poised for rapid growth owing to several factors. Firstly, increasing wealth among high-net-worth individuals (HNWIs) prompts demand for investment banking services such as wealth management, private banking, and estate planning. Secondly, growing interest in alternative investments like private equity, venture capital, and real estate drives individuals to seek specialized advisory services from investment banks. Moreover, the democratization of investing through online platforms and robot-advisors expands the client base for investment banks catering to individual investors, fostering sales growth in this segment.

• Individuals
• Corporate Institutions

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Investment Banking Enterprise Size Segment Analysis

According to Cognitive Market Research, large enterprises hold a prominent market share. Firstly, large enterprises frequently engage investment banks for a wide range of financial services, including mergers and acquisitions, debt and equity financing, and strategic advisory. Secondly, the complex nature of transactions involving large enterprises leads to higher transaction volumes and fees. Additionally, long-standing relationships and recurring business from established corporations contribute to sustained sales in this segment.

Small and medium-sized enterprise (SMES) is the fastest-growing category over the forecast period, owing to various factors. Firstly, increasing recognition of SMEs as drivers of economic growth prompts investment banks to expand their services tailored to the needs of smaller businesses. Secondly, technological advancements and digital platforms make investment banking services more accessible and affordable for SMEs, driving demand for financing, advisory, and strategic guidance. Moreover, favourable government policies and initiatives to support SMEs further stimulate sales growth in this segment.

• Large Enterprises
• Small and Medium-Sized Enterprise (SMES)

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion