Global Asset Servicing Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
1 Oct, 2021
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.
Global Asset Servicing Market Size And Drivers:
The global asset servicing market is expected grow from $499.12 billion in 2020 to $553.45 billion in 2021 at a compound annual growth rate (CAGR) of 10.9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $786.99 billion in 2025 at a CAGR of 9%. Globalization acts as a major driver for the growth of the asset servicing industry.
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Trends In The Global Asset Servicing Market
Robotic process automation (RPA)/ automation is a major trend shaping the growth of the asset servicing market. Robotic process automation alone could reduce the headcount by 60-70% in the assets servicing industry while also achieving cost savings of approximately 30-40%. Robotic process automation (RPA) refers to a set of software tools known as bot or robots that are used to perform a repetitive or routine business process which is currently used by transaction processing team or service centers. RPA can replace manual tasks involved in assets servicing such as reconciliation, trade processing, and reporting for regulators and clients, reducing the time required with cost-efficiency. For instance, the ANZ Banking Group was one of the early ones to adopt RPA aggressively and automated its HR, finance, and technology processes in its Bengaluru hub creating thousands of bots.
Global Asset Servicing Market Segments:
The global asset servicing market is further segmented –
By Service: Fund Services, Custody And Accounting, Outsourcing Services, Securities Lending
By End User: Capital Markets, Wealth Management Firms
By Enterprise Size: Large Enterprises, Medium And Small Enterprises
By Geography: The global asset servicing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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https://www.thebusinessresearchcompany.com/report/asset-servicing-market-global-report-2020-30-covid-19-growth-and-changeAsset Servicing Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides asset servicing market overviews, analyzes and forecasts market size and growth for the global asset servicing market, asset servicing market share, asset servicing market players, asset servicing market segments and geographies, asset servicing market’s leading competitors’ revenues, profiles and market shares. The asset servicing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.