Digital Asset Custody Market Growth Accelerates: Strategic Forecast Predicts $1358.74 Billion by 2029

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What Will the Digital Asset Custody Industry Market Size Be by 2025?
The market size of digital asset custody has experienced fast-paced growth in the past few years. Its growth is projected to increase from $600.28 billion in 2024 to $708.09 billion in 2025, experiencing a compound annual growth rate (CAGR) of 18.0%. This substantial surge throughout the historic phase is credited to rising acceptance of digital assets, escalating digital asset security concern, an increased institutional investment in cryptocurrency markets, a growing regulatory emphasis on asset security and a mounting demand for robust key management solutions.

What's the Long-Term Growth Forecast for the Digital Asset Custody Market Size Through 2029?
In the coming years, the market size for digital asset custody is forecasted to experience a significant surge, ballooning to a substantial $1358.74 billion by 2029. This projects a compound annual growth rate (CAGR) of 17.7%. Factors contributing to this anticipated growth during the predicted period include increasing demand from institutions for compliant custody solutions, a heightened level of cyber threats necessitating secure storage, the incorporation of digital assets into mainstream finance, advancements in multi-party computation (mpc) technology, and the growth of tokenized financial instruments. Major anticipated trends within the forecast period include advancements in MPC-based security systems, the emergence of advanced wallet-as-a-service models, the creation of platforms compliant with regulations, innovation in key management solutions, and progression in cross-chain custody systems.

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What Are the Key Growth Drivers Fueling the Digital Asset Custody Market Expansion?
The growth of the digital asset custody market is anticipated to be driven by increasing wealth management activities. Wealth management, which includes personalized financial services such as investment management, estate planning, and tax strategies, helps individuals to enhance and protect their wealth. This increase in wealth management activities is attributed to the rising number of affluent individuals who are seeking expert advice to expand and protect their assets. The importance of digital asset custody lies in providing safe storage, compliance, and easy access to digital assets for wealth management purposes, encouraging investor faith, endorsing portfolio diversification, and promoting the inclusion of digital assets in conventional financial services. For example, in August 2024, the UK's Investment Association, a trade organization for investment managers, reported a 3% increase in the UK investment management industry's assets under management, soaring from £8.8 trillion ($9.95 trillion) in 2022 to £9.1 trillion ($10.29 trillion). Hence, the increase in wealth management activities is fueling the expansion of the digital asset custody market.

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What Are the Key Trends Driving Digital Asset Custody Market Growth?
Key players in the digital asset custody market are choosing to form strategic alliances to bolster asset safety and minimize private key exposure risks. These strategic partnerships bring organizations together, allowing them to leverage their unique strengths towards achieving common goals. Such collaborations drive mutual growth, spur innovation, and extend market penetration without necessitating formal consolidation. For example, in September 2023, Singapore-based Cobo, a pioneer in digital asset custody technologies, joined forces with Antalpha, a Singaporean institutional investor digital asset technology service platform. Their collaboration aims to incorporate Cobo's groundbreaking B2B2C MPC Wallet-as-a-Service (WaaS) solution into Antalpha Prime. The goal of this integration is to increase security and transparency for final investors by giving them the ability to partake directly in the transaction validation procedure. Utilizing threshold signature schemes (TSS) and superior private key splitting, the solution ensures transactions can't be authorized without the end user's key part, which ultimately optimizes asset safety.

How Is the Digital Asset Custody Market Segmented?
The digital asset custodymarket covered in this report is segmented -

1) By Type Of Custody: Hot Wallet Custody, Cold Wallet Custody
2) By Asset Type: Cryptocurrencies, Digital Securities, Tokenized Assets, Non-Fungible Tokens (NFTs)
3) By Service Type: Custody Services, Trading Services, Reporting And Compliance Services, Risk And Security Management
4) By Deployment Type: On-Premises, Cloud-Based
5) By End-User: Institutional Investors, Hedge Funds, Asset Managers, Banks, Family Offices, Exchanges And Trading Platforms

Subsegments:
1) By Hot Wallet Custody: Exchange-Based Custody, Third-Party Custodial Wallets, Self-Custodial Mobile Wallets, Multi-Signature Hot Wallets, Software-Based Wallet Solutions
2) By Cold Wallet Custody: Hardware Wallet Custody, Paper Wallet Custody, Air-Gapped Storage Solutions, Vault Storage, Custodial Cold Storage With Insurance Backing

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Which Companies Are Leading the Charge in Digital Asset Custody Market Innovation?
Major companies operating in the digital asset custody market are The Bank of New York Mellon Corporation, Standard Chartered PLC, State Street Corporation, Coinbase Global Inc., Bakkt Holdings Inc., Gemini Trust Company LLC, Fireblocks Inc., Matrixport Technologies Limited, Ledger Enterprise SAS, Sygnum Bank, Clearstream Banking SA, New York Digital Investment Group LLC, Bitcoin Suisse AG, Palisade, Etana Custody Inc., Anchorage Digital Bank NA, Aegis Custody Inc., Fidelity Digital Asset Services LLC, Zodia Custody Limited, Tangany GmbH, Liminal Custody Solutions Pvt Ltd, Komainu

Which Regions Are Leading the Global Digital Asset Custody Market in Revenue?
North America was the largest region in the digital asset custody market in 2024. The regions covered in the digital asset custody market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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