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Investment Banking & Securities Intermediation in the US Industry Data and Analysis
Strong returns in various financial markets and increased trading volumes benefited businesses in the industry. Companies provide underwriting, brokering and market-making services for different financial instruments, including bonds, stocks and derivatives. Businesses benefited from improving macroeconomic conditions despite the high-interest-rate environment for most of the period due to inflationary pressures. However, interest rate cuts in the latter part of the period, limited interest income from fixed-income securities. As interest rates are cut, fixed income securities will experience an outflow of capital and equities will experience an inflow of funds. The growth of investor uncertainty during the period encouraged individuals to seek advisory services from financial professionals in the industry, boosting demand and supporting revenue growth. Overall, revenue increased at a CAGR of 6.2% to $481.7 billion over the past five years, including an expected decline of 1.9% in 2026 alone. Industry profit also expanded during the period due to greater interest income from bonds and will comprise 18.1% of revenue in the current year.
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What's included in this industry analysis
IBISWorld's research coverage on the Investment Banking & Securities Intermediation industry in the United States includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released February 2026.
About this industry
What's this industry report about?
The Investment Banking & Securities Intermediation industry in the United States operates under the NAICS industry code 52315. This industry is composed of companies and individuals that provide a range of securities services, including investment banking, brokering and broker-dealer trading services. They also offer banking and wealth management services and engage in proprietary trading (trading their own capital for a profit) to varying degrees. Investment banking services include securities underwriting and corporate financial services, while trading services include market making and broker-dealer services. Related terms covered in the Investment Banking & Securities Intermediation industry in the United States include assets under management (aum), financial assets, commodities contracts, exchange-traded funds (etfs) and over-the-counter (otc).
What's included in this industry?
Products and services covered in Investment Banking & Securities Intermediation industry in the United States include Trading and related services, Underwriting, brokering and dealing services (debt) and Financial advisory and investment management services.
What companies are included in this industry?
Companies covered in the Investment Banking & Securities Intermediation industry in the United States include Jpmorgan Chase & Co, Morgan Stanley and Charles Schwab Corp.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Investment Banking & Securities Intermediation industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Investment Banking & Securities Intermediation industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Investment Banking & Securities Intermediation industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Investment Banking & Securities Intermediation industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Investment Banking & Securities Intermediation industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Investment Banking & Securities Intermediation industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Investment Banking & Securities Intermediation industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Investment Banking & Securities Intermediation industry in the United States.
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Frequently Asked Questions
What is the market size of the Investment Banking & Securities Intermediation industry in the United States in 2026?
The market size of the Investment Banking & Securities Intermediation industry in the United States is $481.7bn in 2026.
How many businesses are there in the Investment Banking & Securities Intermediation industry in the United States in 2026?
There are 29,763 businesses in the Investment Banking & Securities Intermediation industry in the United States, which has declined at a CAGR of 0.9 % between 2021 and 2026.
How may import tariffs affect the Investment Banking & Securities Intermediation industry in the United States?
The Investment Banking & Securities Intermediation industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Investment Banking & Securities Intermediation industry in the United States?
The Investment Banking & Securities Intermediation industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Investment Banking & Securities Intermediation industry in the United States grown or declined over the past 5 years?
The market size of the Investment Banking & Securities Intermediation industry in the United States has been growing at a CAGR of 6.2 % between 2021 and 2026.
What is the forecast growth of the Investment Banking & Securities Intermediation industry in the United States over the next 5 years?
Over the next five years, the Investment Banking & Securities Intermediation industry in the United States is expected to grow.
What are the biggest companies in the Investment Banking & Securities Intermediation industry in the United States?
The biggest companies operating in the Investment Banking & Securities Intermediation industry in the United States are Jpmorgan Chase & Co, Morgan Stanley and Charles Schwab Corp
What does the Investment Banking & Securities Intermediation industry in the United States include?
Commodity contracts dealing and Commodity contracts options dealing are part of the Investment Banking & Securities Intermediation industry in the United States.
Which companies have the highest market share in the Investment Banking & Securities Intermediation industry in the United States?
The company holding the most market share in the Investment Banking & Securities Intermediation industry in the United States is Jpmorgan Chase & Co.
How competitive is the Investment Banking & Securities Intermediation industry in the United States?
The level of competition is high and increasing in the Investment Banking & Securities Intermediation industry in the United States.
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