Asset Management IT Solution Market Northeastern U.S. Records High Revenue Growth

The U.S. asset management IT solutions market is highly competitive on account of the emergence of strong players in the arena. This is because of the low upfront capital required that is allowing more companies to foray into the market and chart ambitious expansion plans. The less-differentiated products have also served to heat up competition in the market.

Some of the prominent participants in the U.S. asset management IT solutions market are Hewlett Packard Enterprise Development LP, SoftTarget Inc., FundCount, SimCorp Inc., QED Financial System, eFront Financial Solutions, ProTrak International, SunGard Financials, Broadridge Investment Management Solutions, and CreditPoint Software.

Obtain Report Details:
https://www.transparencymarketresearch.com/us-asset-management-it-solution-market.html

They are mostly seen leveraging partnerships and acquisitions in order to gain greater market share. A report by Transparency Market Research observes that partnerships are mostly leveraged by regional asset managers that provide IT infrastructure management solutions.

The TMR report forecasts the U.S. asset management IT solutions market to clock a steady 5.1% CAGR during the period between 2016 and 2024. At this pace the market is slated to become worth US$0.89 bn in 2015 from US$1.298 bn by 2024.

Depending upon the deployment model, the U.S. asset management IT solutions market can be divided into on-premise, cloud-based, and hybrid. Currently, the on-premise software solutions accounts for maximum share in the market. In 2016, it accounted for 43.6% share in the overall market of the region.

Make Enquiry @
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=16142

From a geographical standpoint, the northeastern region of the U.S. is predicted to lead the U.S. asset management IT solutions market. In 2016, it held a leading share of over 42.0%. The region is home to numerous asset managers who are primarily underpinning the solid growth.

Exchange Traded Funds (ETF) Drives Market
Fuelling the asset management IT solutions market in the U.S. is the proliferating growth in exchange traded funds (ETFs) in the country. ETFs are preferred on account of their tax efficiency and high returns.

This, in turn, has created a need for asset management IT solutions that can help maintain a record of price fluctuations and offer support to the asset manager so as to up returns on an asset.

Yet another growth driver for asset management IT solutions is the complicated financial regulations of the U.S. government. “Compliances, namely the Foreign Account Tax Compliance Act and the Dodd-Frank Act have resulted in new reporting requirements for asset managers, which bolsters uptake of asset management IT solutions,” says the lead analyst of the TMR report.

Concerns about Data Security Poses Challenge to Market
Serving to deter the market for asset management IT solutions in the U.S., on the other hand, is the concerns over data security. With asset management companies storing important finance data of prominent companies and high net-worth individuals, the banking sector becoming digitized, and cloud-based computing on the rise, data has become even more vulnerable. Rise in cybercrimes is hampering the widespread adoption of asset management IT solutions.

Get TOC @ https://www.transparencymarketresearch.com/report-toc/16142

About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

Contact TMR

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email:sales@transparencymarketresearch.com
Website:http://www.transparencymarketresearch.com

This release was published on openPR.