Dublin, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The "Global Trust and Corporate Service Market, By Clients; By Services; By Enterprise Size; By End User - Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global Trust and Corporate Service Market, valued at US$ 13.03 Bn in 2022, is projected to achieve US$ 18.10 Bn by 2030, demonstrating a Compound Annual Growth Rate (CAGR) of 4.40% during the forecast period.
Trust and corporate services encompass a range of administrative and management services catering to individuals, corporations, and institutions. These offerings span compliance, treasury services, fund accounting, wealth management, and more.
Growth Drivers:
Several pivotal factors drive growth in the trust and corporate service market. The surge in regulatory demands is paramount, fueled by greater compliance and transparency expectations following financial scandals and heightened government scrutiny. Navigating complex regulatory landscapes necessitates specialized trust and corporate services.
Furthermore, global transaction activities surge within the industry, a consequence of international business expansion. Expert management of cross-border transactions is crucial, thus boosting the role of trust and corporate service providers and propelling market expansion.
Nevertheless, the market faces a challenge posed by data security concerns. As these services handle sensitive information, safeguarding against data breaches and reputational damage requires continuous investment in cybersecurity measures, impacting operational costs and market growth.
Segment Breakdown:
The market is segmented by clients, services, enterprise size, and end user. Highlights include:
Clients:
- Institutional Clients
- Private Clients
- Corporates
With corporates holding over 53% of the 2022 market share, institutional clients exhibit the highest CAGR at 4.67%.
Services:
- Treasury Services (fastest-growing segment with 4.94% CAGR)
- Depository Services
- Wealth Management
- Fund Accounting (potential growth exceeding US$ 1.17 Bn by 2030)
- Business Succession Planning
- Listing Services
- Others
Enterprise Size:
- Large Enterprises
- Small and Medium Enterprises
Large enterprises lead with over 70% market share and a CAGR of 5%.
End User:
- Law Firms
- BFSI
- Aviation Industry
- Shipping Industry
- Others
Regional Overview:
North America commands the highest revenue market share (US$ 4.50 Bn in 2022, anticipated to reach US$ 6.28 Bn by 2030), while Asia Pacific witnesses the fastest growth with a CAGR of 5%.
Competitive Landscape:
Key players include Corporation Service Co., Intertrust Group B V, IQ-EQ Group Holdings S.a r.l, JTC Plc, Ocorian Ltd., The Citco Group Ltd., TMF Group B.V., Tricor Services Ltd., McCormick & Company, Inc., among others. Top 8 players collectively hold 35% to 45% market share. Regulatory clearances and collaborations are key strategies for expanding market presence.
Report Insights:
Additional insights cover:
- The impact of wealth and regulation on demand for global trust and corporate services
- Regulatory and transaction analysis in the industry
- Examination of data security concerns
Key Questions Addressed:
- Trends and growth prospects in the trust and corporate service market until 2030
- Influence of regulatory requirements and transaction activities on market growth
- Region with highest growth rate
- Impact of data security concerns on global trust and corporate service market
- Strategies adopted by key market players for sustained growth.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 160 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $13.03 Billion |
| Forecasted Market Value (USD) by 2030 | $18.1 Billion |
| Compound Annual Growth Rate | 4.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/kalf4o
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