New York, United States, July 11, 2024 (GLOBE NEWSWIRE) -- The Global Asset Management Market Size is to Grow from USD 371.62 Billion in 2023 to USD 7124.41 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 34.36% during the projected period.
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The process of acquiring, selling, and managing investments following specific risk tolerances to progressively enhance wealth is known as asset management. Asset management experts offer this service to clients. They might additionally be known as portfolio managers or financial advisors. Some work for themselves, while others are employed by asset management companies, investment banks, or other financial organizations. Asset management companies compete to satisfy the demands of both individual and institutional investors. Check-writing privileges, credit cards, debit cards, margin loans, and brokerage services are all commonly extended to account holders by financial organizations such as banks. Asset managers utilize a range of techniques to oversee investments, such as market analysis, asset allocation, and risk management plans. To fulfill the objectives of their clients. Furthermore, the rapid expansion of the digital landscape, industry initiatives at test asset management, and technological advancements are all credited with driving the market's growth. A positive cycle of leadership visions, comprising a robust talent model, employee resilience, operational enhancements, stakeholder alignment, and culture strengthening, must be demonstrated to expand industry growth. Companies now have several options to strengthen customer-focused relationships as a result of digitization. Furthermore, asset management, which systematically determines the best investments to make to ensure portfolio growth, is essential to optimizing the life cycle of assets, from acquisition to disposal. The global asset management market is being driven by the need to minimize maintenance downtime, the need for efficient asset tracking and management, and the rising need for optimal asset utilization. However, the market is moderately consolidated, with a few prominent firms operating across many regions. Furthermore, the high cost of deploying new asset management systems is one of the fundamental restraints to the global asset management market.
Browse key industry insights spread across 290 pages with 110 Market data tables and figures & charts from the report on the "Global Asset Management Market Size, Share, and COVID-19 Impact Analysis, By Component (Solutions and Services), By Asset Type (Digital and In-Transit Equipment), By Application (Aviation, Infrastructure, Enterprise, and Healthcare), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The solution segment is anticipated to hold the greatest share of the global asset management market during the projected timeframe.
Based on the component, the global asset management market is divided into solutions and services. Among these, the solution segment is anticipated to hold the greatest share of the global asset management market during the projected timeframe. As the world becomes more digitally connected, more data and photos will become available over international information networks, which will boost the GPS segment's profits. GPS integration improves corporate or organizational productivity, asset development, and maintenance. The transportation, manufacturing, energy, IT, and healthcare industries will all utilize asset management systems more frequently, which will drive the segment's growth.
The digital segment is expected to grow at the fastest CAGR in the global asset management market during the projected timeframe.
Based on the asset type, the global asset management market is divided into digital and in-transit equipment. Among these, the digital segment is expected to grow at the fastest CAGR in the global asset management market during the projected timeframe. Enterprises are rapidly adopting digital services and solutions to simplify workflows and lower overall operating expenses. The continued development of digitization is advantageous for suppliers of digital goods and services. Growing amounts and densities of digital assets across enterprises are expected to drive up demand for digital solutions during the forecast period.
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North America is expected to hold the largest share of the global asset management market over the forecast period.
North America is expected to hold the largest share of the global asset management market over the forecast period. Asset management services are vital to many organizations in North America, including government agencies, insurance companies, foundations, pension funds, and endowments. Institutional asset managers handle massive investment portfolios that comprise several asset types, such as stocks, bonds, real estate, and alternative assets, to fulfill the unique investment goals of their customers. Retirement security is what these businesses try to offer via steady capital accumulation.
Asia Pacific is predicted to grow at the fastest pace in the global asset management market during the projected timeframe. The community at large is becoming more aware of and knowledgeable about investment options and financial products. This has led to a rise in the demand for asset management services as investments in mutual funds, equities, and other asset classes have supplanted traditional savings tactics. Accordingly, the growing middle class, pensions, retirement savings, and increased institutional investor involvement are what propel the asset management industry's acceptability and growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Asset Management Market include BlackRock, The Vanguard Group, State Street Global Advisors, Fidelity Investments, Allianz Global Investors, J.P. Morgan Asset Management, Capital Group Companies, Amundi Asset Management, Legal & General Investment Management, Franklin Templeton Investments, Invesco Ltd, T. Rowe Price Group, Northern Trust Corporation, and Others.
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In April 2023, IBM and Siemens collaborated to speed up sustainable product development and operations. The two businesses are collaborating to create a new software solution that combines systems engineering and asset management to facilitate traceability and sustainable product development. This solution will connect the areas of software engineering, electronics, mechanical, and electrical engineering.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Asset Management Market based on the below-mentioned segments:
Global Asset Management Market, By Component
- Solutions
- Services
Global Asset Management Market, By Asset Type
- Digital
- In-Transit Equipment
Global Asset Management Market, By Application
- Aviation
- Infrastructure
- Enterprise
- Healthcare
Global Asset Management Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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