The asset servicing market consists of services for wealth management companies and capital markets. Asset servicing comprises services such as reorganization and proxy services, safekeeping services for physical securities, dividends, and electronic registration & transfer of securities. The assets servicing industry is a critical component of global financial markets and plays a vital role in the safekeeping of financial assets.
The global asset servicing market is expected to decline from $612.42 billion in 2019 and to $551.02 billion in 2020 at a compounded annual growth rate (CAGR) of -10.03%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $729.50 billion in 2023 at a CAGR of 9.8%.
