The pension funds global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Pension Funds Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The pension funds market size has grown strongly in recent years. It will grow from $63,806.67 billion in 2023 to $69,418.63 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increasing aging populations, growing economic conditions and growth rates, fluctuating long-term interest rates, changing legislative and regulatory frameworks, rising stock and bond market performance, varying inflation rates, and shifting corporate profitability.
The pension funds market size is expected to see strong growth in the next few years. It will grow to $97,599.10 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to an increasing focus on sustainability and ESG investing, growing adoption of digital transformation and fintech, ongoing economic uncertainty, evolving regulatory frameworks, changing interest rate trends, rising longevity risk, and consolidating pension funds. Major trends in the forecast period include the rise of defined contribution (DC) plans, the integration of digital tools for retirement planning, growing interest in private equity and alternative investments, the shift towards liability-driven investment (LDI) strategies, and the and the impact of aging populations on fund management.
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Scope Of Pension Funds Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Pension Funds Market Overview
Market Drivers –
A rise in demographic demand for aging populations is expected to propel the growth of the pension fund market going forward. The demographic demand for aging populations is increasing due to advancements in healthcare and medicine, prolonging life expectancy and declining birth rates, and reducing the proportion of younger generations to support elderly populations. Aging populations increasingly need pension funds to provide financial security and sustainable income during their retirement years as life expectancies rise and birth rates decline. For instance, in July 2022, according to a report by the United Nations, a US-based diplomatic and political international organization, the global population aged 65 and above is anticipated to grow from 10% in 2022 to 16% by 2050, with projections suggesting a significant rise in this age cohort worldwide by mid-century. Therefore, a surge in demographic demand for aging populations will drive the growth of the pension fund market.
Market Trends –
Major companies operating in the pension funds market are improving pension portability solutions with advanced pension tracing services to enhance member experience and streamline the transfer of pension assets across different plans. Pension tracing offers a comprehensive service to help individuals locate, verify, and consolidate their various pension plans accumulated over their careers. For instance, in April 2024, Aviva plc, a UK-based insurance company, launched the UK’s first ‘find and combine’ pension tracing, checking, and consolidation service. This service helps individuals locate their various pension schemes accumulated over their careers, assess and verify the details of these pensions, and combine them into a single, easily manageable plan. The service also leverages advanced tools and technology to ensure that users can maximize their retirement benefits and maintain better control over their financial future.
The pension funds market covered in this report is segmented –
1) By Type: Distributed Contribution, Distributed Benefit, Reserved Fund
2) By Application: Low Income Group, High Income Group
3) By End User: Government, Corporate, Individuals
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Regional Insights –
North America was the largest region in the pension funds market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pension funds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the pension funds market are Allianz SE, JPMorgan Chase & Co., Bank of America Corporation, Prudential Financial Inc, The Goldman Sachs Group Inc., UBS Group AG, Deutsche Bank AG, FMR LLC (Fidelity Investments), UTI Retirement Solutions Limited, Aegon NV, The Bank of New York Mellon Corporation, BlackRock Inc, State Street Corporation, HDFC Life Insurance Company Limited, The Vanguard Group Inc, Northern Trust Corporation, California Public Employees’ Retirement System (CalPERS), Mercer LLC, Reliance Nippon Life Insurance Company Limited, National Railroad Retirement Investment Trust, National Electrical Benefit Fund, ICICI Prudential Pension Funds Management Company Limited, SBI Pension Funds Private Limited, Tata AIA Life Insurance Company Limited, Legal & General Group PLC, Pacific Investment Management Company LLC (PIMCO)
Table of Contents
1. Executive Summary
2. Pension Funds Market Report Structure
3. Pension Funds Market Trends And Strategies
4. Pension Funds Market – Macro Economic Scenario
5. Pension Funds Market Size And Growth
…..
27. Pension Funds Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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