The latest report from the Business Research Company predicts that the global financial services sector will experience substantial growth in the next few years, with the market expected to surpass US$37.5 trillion by 2027, driven by a 7.5% compound interest rate (CAGR). 

Evolving consumer needs, technological advancements, and regulatory changes are driving substantial growth in several markets. Open banking, expected to be worth over $62 billion by 2027, is a major growth factor, with a nearly 27% CAGR driven by increased online payment platform adoption. Additionally, contactless payments are fueling the smart card market towards a $27.5 billion market. Simultaneously, the B2B payments market is poised for significant growth, with a 9% CAGR, surpassing $1 trillion due to escalating global trade.

As reported by InvestmentNews, the global insurance market is also expected to experience significant growth as emerging trends expand. 

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