Dublin, March 07, 2024 (GLOBE NEWSWIRE) -- The "Custody Service Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
As the political and economic landscapes continue to evolve globally, the need for robust, efficient, and secure asset management solutions has become paramount for institutional investors and financial entities. A recent market research report indicates a significant growth trajectory for the custody service market, with expectations to grow from $41.57 billion in 2023 to an estimated $63.06 billion by 2028, at a compound annual growth rate (CAGR) of 8.6%.
Factors such as the advent of digital asset classes, the push for enhanced regulatory compliance, an increase in globalization, and an upsurge in institutional investments are principal drivers catalyzing this market's progression. The report extensively covers a range of services within the market, including core custody services, ancillary services, core depository services, and other vital administrative functions.
Market Dynamics
Boost from Technological Advancements: A vital element facilitating growth within the custody service sector is the deployment of modern technology solutions designed to automate and standardize operational processes. The increasing incorporation of digital platforms and services by major banks and financial institutions is underpinning the market's forward momentum.
Global Market Expansion: The landscape of financial markets across North America, Europe, and Asia-Pacific regions showcases a surging demand for secure asset handling and administration, reinforcing the role played by custodial services in driving market growth and ensuring transactional security for a diverse variety of assets.
In light of the dynamic nature of financial markets, the report also identifies competitive pressures as a key challenge confronting the market, with numerous players vying for market prominence. Despite this, innovations in digital asset custody platforms are gaining attention, signifying a transformation within the industry toward secure and efficient operation models.
Strategic Acquisitions Shaping the Market
In a move reflective of the market's rapid changes, recent acquisitions such as U.S. Bank's strategic procurement of the debt servicing and securities custody services client portfolio from MUFG Union Bank spotlight the industry's efforts to broaden service capabilities and enhance customer service experiences.
Geographic and Service Insights
With North America leading the custody services market in 2023 and Western Europe following close behind, the report provides an in-depth overview of the services offered within these regions and the challenges and opportunities specific to each geographic locale.
The report delves into the different types of services provided by the industry, shedding light on the critical roles played by custody service providers in financial markets. Equity, fixed income, alternative assets, and other asset types all stand to be influenced by the evolving service models within this sector.
Ready For Financial Futures
The report's comprehensive analysis provides a forward-looking view of the custody services landscape and is a vital resource for industry participants seeking to understand the current and future market dynamics. As the global economy continues to integrate, the importance of adept custody services remains prominent, and the market's anticipated growth suggests a bright future for the industry.
This detailed custody service market research report provides stakeholders with an extensive understanding of the global custody service landscape, encompassing key market segments, trends, and the projected growth patterns set to shape the sector over the coming years.
For enterprises operating within the financial services industry, investors, and companies seeking to expand their knowledge and operational capabilities within the custody environment, this report is an indispensable tool offering insights that could inform strategic decision-making and long-term positioning.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $45.39 Billion |
| Forecasted Market Value (USD) by 2028 | $63.06 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
Key Topics Covered
- Executive Summary
- Custody Service Market Characteristics
- Custody Service Market Trends and Strategies
- Custody Service Market - Macro Economic Scenario
- Global Custody Service Market Size and Growth
- Custody Service Market Segmentation
- Custody Service Market Regional and Country Analysis
- Asia-Pacific Custody Service Market
- China Custody Service Market
- India Custody Service Market
- Japan Custody Service Market
- Australia Custody Service Market
- Indonesia Custody Service Market
- South Korea Custody Service Market
- Western Europe Custody Service Market
- UK Custody Service Market
- Germany Custody Service Market
- France Custody Service Market
- Italy Custody Service Market
- Spain Custody Service Market
- Eastern Europe Custody Service Market
- Russia Custody Service Market
- North America Custody Service Market
- USA Custody Service Market
- Canada Custody Service Market
- South America Custody Service Market
- Brazil Custody Service Market
- Middle East Custody Service Market
- Africa Custody Service Market
- Custody Service Market Competitive Landscape and Company Profiles
- Custody Service Market Other Major and Innovative Companies
- Global Custody Service Market Competitive Benchmarking
- Global Custody Service Market Competitive Dashboard
- Key Mergers and Acquisitions in the Custody Service Market
- Custody Service Market Future Outlook and Potential Analysis
- Appendix
A selection of companies mentioned in this report includes
- JPMorgan Chase & Co.
- HSBC Holdings plc
- Citigroup Inc.
- Wells Fargo & Company
- BNP Paribas
- UBS AG
- State Bank of India
- Groupe Caisse d'Épargne
- Deutsche Bank AG
- HDFC Bank Ltd.
- ICICI Bank Ltd.
- The Bank of New York Mellon Corporation
- DBS Bank Ltd.
- Commerzbank AG
- State Street Bank and Trust Company
- Northern Trust Corporation
- Hang Seng Bank Limited
- Kotak Mahindra Bank Limited
- Standard Chartered plc
- Yes Bank Ltd.
- Societe Generale Securities Services GmbH
- Stock Holding Corporation of India Ltd.
- Julius Baer Group AG
- Brown Shipley & Co. Limited
- RBC Investor & Treasury Services
- Edelweiss Custodial Services Ltd.
- Orbis Financial Corporation Ltd.
- Axis Bank Ltd.
- Brown Brothers Harriman & Co.
- Infrastructure Leasing & Financial Services Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/7sapqe
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