Financial Services

The Custody Service Market Is Estimated To Reach $57.9 Billion By 2027 At A CAGR Of 8.6% – Includes Custody Service Market Growth

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


Automation and standardization are expected to drive innovation in custody service manufacturing, thus driving the market during the forecast period.


The global custody service market is expected to grow from $38.17 billion in 2022 to $41.57 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The custody services market is expected to grow from $57.9 billion in 2027 at a CAGR of 8.6%.


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Global Custody Service Market Segments Include:

  • By Service: Core custody services, Ancillary services, Core depository services, Other Administrative Services
  • By Type: Equity, Fixed Income, Alternative Assets, Other Types
  • 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 custody service market in 2021.


Major Market Players in the custody service market include Bank of New York Mellon, Citigroup, JP Morgan Chase, State Street Bank and Trust, BNP Paribas, Northern Trust Corporation, HSBC.


The development of digital asset custody platforms in custody services is gaining traction in the market. Companies in the global custody services market are increasingly focusing on digital asset custody with better security and operational efficiency. For example, in 2022, US based investment banking services company, BNY Mellon launched its Digital Asset Custody platform in the US, which allows clients to hold and transfer bitcoin and ether. The multi-asset platform bridges digital and traditional asset custody. The platform store clients’ private keys and provide some bookkeeping on the crypto assets in their portfolios.


The Custody Service Global Market Report 2023  provides a custody service market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The custody service market forecast analyzes custody service market size, custody service 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.


Custody services typically include the settlement, safekeeping, and reporting of marketable securities and cash held by customers. By lending securities to approved borrowers on a short-term basis, a customer can earn additional income on custody assets.


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