Asset Management Market to Witness Huge Growth By 2023 - Future Growth Analysis and Challenge, Forecast

The Business Research Company’s Asset Management Market Report - Opportunities And Strategies - Global Forecast To 2023

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The global asset management market reached a value of nearly $656.9 billion in 2019, having increased at a compound annual growth rate (CAGR) of 6.5% since 2015. The market is expected to decline from $656.9 billion in 2019 to $598.9 billion in 2020 at a rate of -8.8%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9.6% from 2021 ad reach $788.8 billion in 2023.

The Key drivers of the Asset Management Market include:-
Going forward, increasing demand for alternative investments is expected to drive the market for asset management. There has been an increasing preference for alternative investments among the high net worth individuals and ultra-high net worth individuals. Alternative investments are financial assets, which do not fall into the category of conventional financial assets, such as stocks, bonds, and cash. Examples of alternative investments include hedge funds, private equity, commodities, mineral rights, real estate investment trusts (REITs), art and antiquities, intellectual property, and derivatives (futures, options, and swaps), among others. Investors are increasingly becoming interested in alternative investments owing to several benefits offered such as diversification, reduction in portfolio risk, availability in private markets, low correlation with other assets, less regulation, and relatively higher returns. For example, infrastructure assets are expected to increase from $0.8 trillion in 2017 to $3.4 trillion by 2025. Private equity is expected to increase from $5.3 trillion in 2017 to $10.2 trillion in 2025. Investors are increasingly seeking asset management services to invest in alternative assets. This will drive the market for asset management in the forecast period.

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Asset Management Market Segmentation:-
By Type of Asset Class
1. Equity
2. Fixed Income
3. Alternative Assets and Others
The fixed income market was the largest segment of the asset management market segmented by type, accounting for 67.2% of the total in 2019. Going forward, the alternative assets and others segment is expected to be the fastest growing segment in the asset management market, at a CAGR of 8.6% during 2019-2023.

By Type Service Element
1. Asset Services
2. Custody Services
The asset servicing market was the largest segment of the asset management market segmented by service element, accounting for 93.2% of the total in 2019. Going forward, the custody services segment is expected to be the fastest growing segment in the asset management market, at a CAGR of 7.4% during 2019-2023.

By Type Client
1.Mass Affulent
2.HNWI
3.Pension Funds
4.Insurance Companies
5.Sovereign Wealth Funds (SWF)
The mass affluent market was the largest segment of the asset management market segmented by end-user, accounting for 36.1% of the total in 2019.

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By Geography - The asset management market is segmented Into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa

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Some of the major key players involved in the Asset Management Market are
1.JP Morgan Stanley
2.Morgan Chase & Co.
3.Bank of America Corporation
4.Wells Fargo & Company
5.The Goldman Sachs Group, Inc.

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

This release was published on openPR.