The Asset Servicing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Asset Servicing Global Market Report 2024, 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.
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.
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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
Major companies operating in the asset servicing market are developing innovative products with advanced technologies, such as autonomous asset management to improve customer satisfaction and loyalty. Autonomous asset management refers to the use of artificial intelligence (AI) and machine learning (ML) technologies to automate investment decision-making and portfolio management. For instance, in September 2021, Arabesque AI, a UK-based investment advisory and technology company, launched AutoCIO, an autonomous asset management to provide asset managers with a scalable, cost-effective, and highly customizable solution for delivering sustainable investment strategies to clients. It is driven by artificial intelligence technology that can produce and execute millions of active equity strategies, allowing the establishment of highly customized and sustainable active investment strategies. The platform is split into several parts, including data pipelines from third-party sources, AI-powered analytics, and customizable investment portfolios.
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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26. South America Asset Servicing Market
27. Brazil Asset Servicing Market
28. Middle East Asset Servicing Market
29. Africa Asset Servicing Market
30. Asset Servicing Market Competitive Landscape And Company Profiles
Top Major Players:
- JPMorgan Chase & Co
- Wells Fargo Asset Management
- Citigroup Inc
- HSBC Holdings PLC
- Morgan Stanley Wealth Management
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