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Family Offices Market Analysis, Industry Size And Forecast 2023 To 2032
Family Offices Market
The Business Research Company's Family Offices Global Market Report 2023 identifies increasing need for wealth management as the major driver for the Family Offices market's growth in the forecast period. Wealth management refers to the professional services and strategies employed to help individuals or families preserve, grow, and manage wealth. Family offices are growing by providing a broader range of sophisticated financial services and expertise to meet the complex needs of high-net-worth individuals and families. The benefit of a family office in wealth management is the provision of highly personalized and comprehensive financial services tailored to the specific needs and goals of affluent families, facilitating the preservation, growth, and efficient management of their wealth across generations. For instance, in June 2022, according to Global Family Office Report 2022 by UBS Group AG, a Switzerland-based investment banking company, over 80% of family offices invested in private equity, with a growing number making direct investments yearly.
The global family offices market size is expected to grow from $17.28 billion in 2022 to $18.33 billion in 2023 at a compound annual growth rate (CAGR) of 6.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global family offices market size is expected to reach $22.52 billion in 2027 at a CAGR of 5.3%.
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Major competitors in the Family Offices market are Cascade Investment Group Inc., MSD Partners LP, Stonehage Fleming Group, Glenmede Trust Co, The Bessemer Group Incorporated., The Bank of New York Mellon Corporation, UBS Group AG, BMO Financial Group
A key trend in the Family Offices market includes Disruptive technology. Major companies operating in the family offices market frequently focus on disruptive technology to stay competitive by increasingly adopting them. For Instance, in October 2022, Raffles Family Office, China-based multi-family office that offers investment management services, launched Revo Digital Family Office. It is a next-generation platform that enables ultra-high-net-worth families to access and invest in digital assets.
Read More On TheGlobal Family Offices Market Report Here: https://www.thebusinessresearchcompany.com/report/family-offices-global-market-report
The Family Offices market is segmented -
•By Type: Single Family Office, Multi-Family Office, Virtual Family Office
•By Asset Class: Bonds, Equities, Alternative Investments, Commodities, Cash Or Cash Equivalents
•By Office: Founders' Office, Multi-Generational Office, Investment Office, Trustee Office, Compliance Office, Philanthropy Office, Shareholder's Office, Other Offices
•By Office: Founders' Office, Multi-Generational Office, Investment Office, Trustee Office, Compliance Office, Philanthropy Office, Shareholder's Office, Other Offices
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Family Offices market.
The Business Research Company's "Global Family Offices Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Family Offices Market Include:
1. Executive Summary
2. Family Offices Market Characteristics
3. Family Offices Market Trends And Strategies
4. Family Offices Market - Macro Economic Scenario
5. Family Offices Market Size And Growth
....................
26. Africa Family Offices Market
27. Family Offices Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Family Offices Market
29. Family Offices Market Future Outlook and Potential Analysis
30. Appendix
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