Asset Management Outlook
According to the report by Expert Market Research (EMR), the global asset management market size reached a value of USD 421.22 billion in 2023. Aided by the growing need for efficient wealth management systems, the market is projected to further grow at a CAGR of 12.5% between 2024 and 2032 to reach a value of USD 1215.86 billion by 2032.
Asset management encompasses a broad spectrum of activities, including but not limited to, investment management, estate planning, tax advice, and banking services. It caters to a diverse clientele ranging from individual investors to institutions, tailoring strategies to meet specific financial goals and risk tolerances. The industry’s vitality lies in its ability to adapt to market dynamics, regulatory changes, and technological advancements, ensuring the optimisation of client assets over time.
Several factors are propelling the asset management market growth. Firstly, the increasing wealth accumulation among populations, particularly in emerging markets, has broadened the client base seeking asset management services. This wealth expansion is coupled with a growing awareness and sophistication of investors about the benefits of professional asset management in achieving long-term financial objectives.
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Technological innovations have also significantly influenced the asset management market outlook. The adoption of financial technology (fintech) solutions, such as robo-advisors, blockchain, and artificial intelligence (AI), has enhanced the efficiency, accessibility, and personalisation of asset management services. These technologies have democratised investment opportunities, allowing for broader market participation and the development of more customised investment products.
Moreover, the shifting regulatory landscape globally has mandated higher transparency, better client engagement, and enhanced risk management practices. This regulatory evolution encourages trust and stability in the industry, further driving the asset management market demand.
One significant opportunity lies in sustainable and responsible investing. The growing emphasis on Environmental, Social, and Governance (ESG) criteria among investors is pushing asset managers to integrate sustainability considerations into investment decisions, offering a competitive edge while contributing to global sustainability goals.
Additionally, the digital transformation presents opportunities for asset managers to leverage big data analytics, AI, and machine learning to gain deeper market insights, improve decision-making processes, and offer more personalised services to clients.
Looking ahead, the asset management market demand is poised for continued growth, driven by increasing global wealth, technological advancements, and the rising demand for personalised and sustainable investment solutions. As the industry navigates through changing financial landscapes, asset managers who embrace innovation, adhere to regulatory standards, and focus on meeting the evolving needs of their clients are likely to thrive.
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Asset Management Market Segmentation
The market can be divided based on component, asset type, function, application, and region.
Market Breakup by Component
- Solution
- Service
Market Breakup by Asset Type
- Digital Assets
- Returnable Transport Assets
- In-transit Assets
- Manufacturing Assets
- Personnel/ Staff
Market Breakup by Function
- Location and Movement Tracking
- Check In/ Check Out
- Repair and Maintenance
- Others
Market Breakup by Application
- Infrastructure Asset Management
- Enterprise Asset Management
- Healthcare Asset Management
- Aviation Asset Management
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global asset management market. Some of the major players explored in the report by Expert Market Research are as follows:
- Honeywell International Inc.
- IBM Corporation
- Siemens AG
- Rockwell Automation, Inc.
- Oracle Corporation
- Brookfield Corp.
- Zebra Technologies Corp.
- SAP SE
- ABB Ltd
- WSP Global Inc.
- Others
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