The forecasted value added of activities auxiliary to financial service and insurance activities in the UK is projected to rise steadily from £59.16 billion in 2024 to £66.73 billion in 2028. In 2023, this value stood at £57.38 billion. The year-on-year percentage increase is 3.29% from 2024 to 2025, 3.13% from 2025 to 2026, 2.98% from 2026 to 2027, and 2.82% from 2027 to 2028. The compound annual growth rate (CAGR) over the five-year forecast period is approximately 3.06%.
Future trends to watch for include:
- The impact of technological advancements on efficiency and cost-effectiveness in auxiliary services.
- Regulatory changes potentially affecting market dynamics and operations.
- Shifts in consumer preferences and global economic conditions influencing demand for financial services.