Financial Services

Insights Into The Asset Servicing Market’s Growth Opportunities Through 2023-2032 – Includes Asset Servicing Market Overview

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

 

Globalization are expected to drive innovation in asset servicing manufacturing, thus driving the market during the forecast period.

 

The global asset servicing market is expected to grow from $1159.45 billion in 2022 to $1277.82 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global asset servicing market is expected to grow to $1830.69 billion in 2027 at a CAGR of 9.4%.

 

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Global Asset Servicing Market Segments Include:

  • By Service: Fund Services, Custody and Accounting, Outsourcing Services, Securities Lending
  • By End User: Capital Markets, Wealth Management Firms
  • By Enterprise Size: Large Enterprises, Medium and Small Enterprises
  • By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global asset servicing market in 2021.

 

Major Market Players in the asset servicing market include National Australia Bank Limited, CACEIS, BNY Mellon, HSBC, JP Morgan, Citi, The Bank of New York Mellon Corporation (BNY Mellon), State Street Corporation.

 

Robotic process automation (RPA) or automation is a major trend shaping the growth of the asset servicing market. Robotic process automation alone could reduce the headcount by 60–70% in the asset servicing industry while also achieving cost savings of approximately 30–40%. Robotic process automation (RPA) refers to a set of software tools known as bots or robots that are used to perform a repetitive or routine business process that is currently used by transaction processing teams or service centers. RPA can replace manual tasks involved in asset servicing such as reconciliation, trade processing, and reporting for regulators and clients, reducing the time required with cost-efficiency. For instance, the ANZ Banking Group was one of the early ones to adopt RPA aggressively and automated its HR, finance, and technology processes in its Bengaluru hub, creating thousands of bots.

 

The Asset Servicing Global Market Report 2023  provides a asset servicing market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The asset servicing market forecast analyzes asset servicing market size, asset servicing market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

 

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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