Asset Management Market Set to Hit $8.3 Trillion by 2032, Driven by Wealth Growth and ESG Investing

According to the report, the global asset management industry generated $376.82 billion in 2022, and is anticipated to generate $8280.73 billion by 2032, witnessing a CAGR of 36.5% from 2023 to 2032.

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Asset management solutions encompass a range of management related services provided by investment firms and professionals to assist individuals and organizations in managing their investment portfolios. These solutions involve the strategic allocation of funds across various asset classes, such as stocks, bonds, real estate, and commodities, with the aim of achieving optimal returns while considering risk tolerance and investment objectives. In addition, asset management solutions help companies maximize the utilization of their assets by providing real-time insights into their availability, location, and condition. This information allows businesses to optimize asset allocation, schedule maintenance activities, and identify underutilized or idle assets that can be redeployed or sold, leading to cost savings, and increased operational efficiency.

Prime Determinants of Growth
The asset management market is influenced by several major drivers, restraints, and opportunities. The asset management market is rapidly developing as organizations attempt to increase efficiency and productivity by maximizing asset utilization. Furthermore, the market is being driven by the increasing adoption of cloud-based IT asset management systems, which enable organizations to centralize data, track assets in real-time, and realize cost savings, resulting in improved asset visibility and streamlined operations.

However, lack of awareness and comprehension among SMEs, as well as financial limits, are important impediments to the asset management industry, preventing small and medium-sized businesses from receiving professional asset management services and investing in the sector. On the contrary, the rise of interconnected IT infrastructure creates a significant opportunity for the asset management market because it enables efficient data management, automation, real-time analytics, and improved communication, hence enhancing operational efficiency and decision-making capabilities.

The solution segment to maintain its leadership status throughout the forecast period
Based on component, the solution segment held the highest market share in 2022, accounting for more than three-fifths of the global asset management market revenue. This can be attributed to the fact that it offers comprehensive and customizable tools and software that help businesses efficiently track, monitor, and optimize their assets. However, the service segment is projected to manifest the fastest CAGR of 38.5% from 2023 to 2032, this is attribute to the fact that it enables to provide personalized and comprehensive investment solutions to meet the diverse needs of clients.

The digital assets segment to maintain its leadership status throughout the forecast period
Based on asset type, digital asset segment held the highest market share in 2022, accounting for around one-third of the global asset management market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attribute to fact that its ability to offer increased accessibility, efficiency, and potential for higher returns compared to traditional asset classes. However, the in-transit assets segment is projected to manifest the fastest CAGR of 40.7% from 2023 to 2032, this is attribute to the fact that the increasing demand for real-time tracking, efficiency optimization, and risk management of assets during transportation.

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The aviation asset management segment to maintain its leadership status throughout the forecast period
Based on application, aviation asset management segment held the highest market share in 2022, accounting for around half of the global asset management market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attribute to the significant value and long lifespan of aviation assets, coupled with the need for specialized knowledge and expertise in managing these complex and expensive assets.

However, the enterprise asset management segment is projected to manifest the fastest CAGR of 41.5% from 2023 to 2032, this is attribute to the ability to streamline operations, optimize resource allocation, and enhance maintenance strategies, resulting in increased efficiency and cost savings for organizations.

North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global asset management market revenue. Asset management firms in North America assist individuals, organizations, and institutions in managing their financial investments. These organizations provide portfolio management, financial planning, and investment advising services to clients in order to assist them to optimize their investment strategy, maximizing returns, and limiting risk. However, the Asia-Pacific region is expected to witness the fastest CAGR of 39.7% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the expanding middle class in the region has resulted in increased savings and wealth accumulation. The need for asset management services such as investment funds, private banking, and wealth management has expanded as individuals and families seek to maintain and grow their money.

Leading Market Players: -
ABB
BlackRock, Inc.
Charles Schwab Investment Management, Inc.
FMR LLC.
IBM Corporation
J.P. Morgan Chase & Co.
Morgan Stanley
Oracle Corporation.
Rockwell Automation Inc.
SAP SE
The report provides a detailed analysis of these key players of the global asset management market. These players have adopted different strategies such as expansion and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the asset management market forecast from 2023 to 2032 to identify the prevailing asset management market opportunity.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the asset management market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of the regional as well as global asset management market trends, key players, market segments, application areas, and market growth strategies.

Asset Management Market Report Highlights
By Component

Solution
Service
By Asset Type

Digital Assets
Returnable Transport Assets
In-transit Assets
Manufacturing Assets
Personnel/ Staff
By Function

Location and Movement Tracking
Check-In/ Check-Out
Repair and Maintenance
Others

By Application
Infrastructure Asset Management
Enterprise Asset Management
Healthcare Asset Management
Aviation Asset Management
Others

By Region
North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

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