Overview and Scope
Asset servicing refers to a set of tasks and activities performed by a custodian for his clients in relation to the assets in his custody.
Sizing and Forecast
The asset servicing market size has grown strongly in recent years. It will grow from $1303.24 billion in 2023 to $1397.61 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to client-centric solutions, market volatility and economic shifts, demand for specialized services, globalization of markets.
The asset servicing market size is expected to see strong growth in the next few years. It will grow to $1859.64 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to adaptation to market volatility, client-centric solutions, risk management and cybersecurity, global economic trends, esg (environmental, social, governance) integration. Major trends in the forecast period include transition to digital services, regulatory changes, globalization and market expansion, demand for esg (environmental, social, governance) integration, cost efficiency and operational streamlining.
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Segmentation & Regional Insights
The asset servicing market covered in this report is segmented –
1) By Service: Fund Services, Custody and Accounting, Outsourcing Services, Securities Lending
2) By Enterprise Size: Large Enterprises, Medium and Small Enterprises
3) By End User: Capital Markets, Wealth Management Firms
North America was the largest region in the asset servicing market in 2023. Western Europe was the second largest region in the global asset management market share. The regions covered in the asset servicing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing retiree population is expected to propel the growth of the asset servicing market going forward. The retiree population refers to people aged 65 and over. Asset servicing providers can help retirees manage their assets and investments to ensure they have enough income to support their retirement. For instance, according to the United States Census Bureau, a US-based government agency, the population of people aged 65 and over will reach 80.8 million by 2040 and 94.7 million by 2060. Thus, the increasing retiree population is driving the growth of the asset servicing market.
Key Industry Players
Major companies operating in the asset servicing market report are JPMorgan Chase & Co., Wells Fargo Asset Management, Citigroup Inc., HSBC Holdings PLC, Morgan Stanley Wealth Management, The Goldman Sachs Group Inc., UBS Group AG, Fidelity Personal and Workplace Advisors LLC, PNC Financial Services Group Inc., Charles Schwab Corporation, National Australia Bank Limited, BlackRock Inc., Mellon Investments Corporation, The Bank of New York Mellon Corporation, Ameriprise Financial Inc., State Street Corporation, Raymond James Financial Inc., Franklin Resources Inc., Northern Trust Corporation, Invesco Ltd., TD Ameritrade Investment Management LLC, Broadridge Financial Solutions Inc., CACEIS Bank S.A., Pictet Group, T. Rowe Price Investment Services Inc., BNP Paribas Securities Services, SimCrop A/S, Clearstream Banking S.A., United States National Bank
The asset servicing market report table of contents includes:
1. Executive Summary
2. Asset Servicing Market Characteristics
3. Asset Servicing Market Trends And Strategies
4. Asset Servicing Market – Macro Economic Scenario
5. Global Asset Servicing Market Size and Growth
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31. Asset Servicing Market Other Major And Innovative Companies
32. Global Asset Servicing Market Competitive Benchmarking
33. Global Asset Servicing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Asset Servicing Market
35. Asset Servicing Market Future Outlook and Potential Analysis
36.Appendix
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