What is the Banking Product Usage section?
The Banking Product Usage section includes a data table designed to show commercial bankers how prevalent specific banking products are across different industries over five years.
In each row, you can see the percentage of businesses within the industry that have reported using that product.
The section is included in the Financial Benchmarks chapter of Core and Specialized Industry Reports for commercial bankers. Previews of this section can be found in the Shareable Insights and Meeting Prep tabs in the At a Glance for Banking chapter.
What is the latest year of data in the Banking Product Usage section?
The latest year of data across all industries is 2023. We will add data for 2024 before the end of 2025.
What can I use the Banking Product Usage section for?
The Banking Product Usage section equips banking professionals with product-level data to enhance customer relationships, refine strategies and drive growth. Here’s how you can leverage it:
Understand market trends and demand: Track which financial products are gaining traction to stay ahead of industry shifts. This allows relationship managers, marketers and business development professionals to focus on high-demand services.
Strengthen client engagement: Leverage data to elevate sales conversations with prospects and clients. By showcasing long-term product adoption trends, you can provide compelling, tailored recommendations that help businesses stay competitive.
Assess customer needs: Decision-makers can use this data to better understand customer preferences, ensuring banking products and services align with business challenges and foster higher satisfaction and loyalty.
Enhance risk profiling and mitigation: Product usage patterns reveal industry-specific risk factors. For example, a heavy reliance on foreign exchange services may indicate exposure to international market risks, helping banks refine lending and risk management strategies.
Support long-term strategic planning: With five years of historical data, banks can track emerging trends and shifting preferences and invest in the right products and services for future growth.
Unlock competitive advantages: Banking Product Usage data helps create meaningful, data-backed talking points that enhance engagement, differentiate your services, and solidify your position as a trusted banking partner.
Accelerate banker training and product knowledge: Equip new and less-experienced bankers with insight into banking product adoption trends. By providing a clear snapshot of banking product usage, this section helps shorten the learning curve, enabling bankers to have more informed and confident client conversations.
By pairing historical usage trends with IBISWorld’s market intelligence, you can confidently predict customer needs, adapt strategies and exceed expectations, ensuring long-term success in a competitive banking landscape.
Where is Banking Product Usage data sourced from?
We source Banking Product Usage data from Barlow Research.
Barlow Research is a leading provider of primary research focused on the banking industry, specializing in the behavior, preferences and usage of financial services by small, middle-market and large businesses.
With over 40 years of experience, Barlow Research delivers actionable insights into business banking trends, helping financial institutions and industry professionals make data-driven decisions. Their expertise complements IBISWorld’s industry research by offering in-depth data on banking product usage by industry.
What products and services are included in the Banking Product Usage section?
See our full list of banking products and services included in the Banking Product Usage section.
How often is the Banking Product Usage section updated?
We update the Banking Product Usage Section with data sourced from Barlow Research annually.
What industry reports include the Banking Product Usage section?
The Banking Product Usage section is included in all US Core and Specialized Industry Reports with varying product coverage depending on the industry. The section will only appear for IBISWorld members that work at banks or credit unions.
Can Phil answer questions about Banking Product Usage data?
No, Phil does not currently have access to Banking Product Usage data.
Is Banking Product Usage data available at the state level?
No, Banking Product Usage data is currently only available at the country level for US industries.
Can I compare data across industries?
You cannot compare product usage data across industries within the report, however, you can download the data in Excel and make your own comparisons offline. Learn more about downloading sections.
How many years of data are included in the Banking Product Usage section?
At launch, we will provide five years of data. In the long term, six years of data will be included in the Banking Product Usage section. The latest available data is dependent on Barlow Research’s reporting schedule.
Will Banking Product Usage data through IBISWorld’s API?
We expect to have Banking Product Usage data available through our API by the end of June 2025.
What is Barlow Research’s methodology for collecting banking product usage data?
Barlow Research surveys companies across various industries and sectors about their usage of each of the banking products included in the Banking Product Usage section. The survey results are weighted by the companies' sales volume and operating region to determine the proportion of businesses in each industry or sector that use each banking product.
Why is data missing from the Banking Product Usage section in some reports?
The data in the Banking Product Usage section is sourced from Barlow Research. Barlow collects this data through user surveys. For industries where datasets are incomplete, we do not attempt to fill gaps by estimating or utilizing proxy data.
What is the survey sample size used for the data in the Banking Product Usage section?
IBISWorld uses Barlow survey data with 10 or more respondents to populate the Banking Product usage section. That said, the majority of the data points reflect many more responses. Across the entire dataset, more than half of the data points presented are driven by at least 150 responses.
How do I add the Banking Product Usage section to my subscription?
All banks and credit unions with an IBISWorld subscription automatically have access to the Banking Product Usage section.
For additional questions about IBISWorld’s Banking Product Usage section, please contact your Client Relationship Manager. If you don’t have an IBISWorld account, please contact us to learn more about our membership options.