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Asset Servicing Global Market Report 2024 - By Demand, Share, Size, Growth, Outlook By 2033

04-04-2024 07:06 AM CET | Industry, Real Estate & Construction

Press release from: The Business research company

Asset Servicing Market

Asset Servicing Market

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.

Market Overview -
Asset servicing refers to a set of tasks and activities performed by a custodian for his clients in relation to the assets in his custody.

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The Growing Retiree Population Fuels Asset Servicing Market Growth
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.

Competitive Landscape -
Major companies operating in the asset servicing market report are JPMorgan Chase & Co., Wells Fargo Asset Management, Citigroup Inc., HSBC Holdings plc, Morgan Stanley Wealth Management, The Goldman Sachs Group Inc., UBS Group AG, Fidelity Personal and Workplace Advisors LLC, PNC Financial Services Group Inc., Charles Schwab Corporation, National Australia Bank Limited, BlackRock Inc., Mellon Investments Corporation, The Bank of New York Mellon Corporation, Ameriprise Financial Inc., State Street Corporation, Raymond James Financial Inc., Franklin Resources Inc., Northern Trust Corporation, Invesco Ltd., TD Ameritrade Investment Management LLC, Broadridge Financial Solutions Inc., CACEIS Bank S.A., Pictet Group, T. Rowe Price Investment Services Inc., BNP Paribas Securities Services, SimCrop A/S, Clearstream Banking S.A., United States National Bank

Innovative Advances In The Asset Servicing Market
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.

Browse Full Report
https://www.thebusinessresearchcompany.com/report/asset-servicing-global-market-report

Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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