Asset Management IT Solution Market: On-premise Solutions Gain Preference over Cloud-based Deployment Model

The U.S. asset management IT solutions market is highly competitive due to the presence of several leading players in the market, observes a new report by Transparency Market Research. Due to the low initial capital required a large number of companies are foraying into the market further heating up competition in the market. Low product differentiation is also serving to heat up competition among market players.

Hewlett Packard Enterprise Development LP, FundCount, QED Financial System, ProTrak International, Broadridge Investment Management Solutions, SoftTarget Inc., SimCorp Inc., eFront Financial Solutions, SunGard Finacials, and CreditPoint Software are to name some of the key names in U.S. asset management IT solution market. Key companies are mostly leveraging acquisitions and partnerships in order to garner a greater market share.

The TMR report predicts the U.S. asset management IT solutions market to rise at a CAGR of 5.1% for the forecast period between 2016 and 2024. Progressing at this rate, the market will become worth US$1,298.2 mn by 2024 from US$828.5 mn in 2015. Based on deployment model, on-premise software solutions lead amongst other segments; the segment held 43.6% market share in 2016. In terms of geography, the northeastern region is likely to lead among other regions in the U.S. asset management IT solution market.

Request PDF Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=16142

Proliferation of Exchange Traded Funds Drives Market

Majorly fuelling the asset management IT solution market in the U.S. is the proliferation of exchange traded funds (ETFs) in the country. ETFs gain preference due to their tax efficiency and high returns. This has upped the demand for asset management IT solutions that can help keep a record of price fluctuations and also provide support to asset manager to maximize returns on an asset.

The complicated financial regulations of the U.S. government is another key growth driver of the U.S. asset management IT solutions market. “The implementation of compliances, namely Dodd-Frank Act and Foreign Account Tax Compliance Act have resulted in additional reporting requirements from asset managers, which is further bolstering the IT asset management IT solutions market in the U.S.

Further, the rising need for IT solutions for managing equity, real estate, fixed income, commodities, and international investments is another significant factor boosting the adoption of asset management IT solutions in the U.S. As per statistics Department of Commerce in the U.S., in 2015, U.S. asset managers held assets worth more than US$51 trillion of long-term conventional assets, which was slightly over 47% of global funds in the same year.

Risk of Loss of Critical Data Challenges Adoption

On the contrary, proving to be a roadblock to the growth of U.S. asset management IT solutions market is concerns over data security. This is because asset management companies store important finance data of large finance institutions and high net-worth individuals, and with digitization of the banking sector and deployment of cloud-based computing, data vulnerability has increased manifold. Rise in cybercrimes is thus limiting the adoption of asset management IT solutions.

Report TOC: https://www.transparencymarketresearch.com/report-toc/16142

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact TMR

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email:sales@transparencymarketresearch.com
Website:http://www.transparencymarketresearch.com

This release was published on openPR.