Global Asset Servicing Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
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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%. Globalization acts as a major driver for the growth of the asset servicing industry.
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.
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The global asset servicing market is further segmented based on service and geography.
By Service: Fund Services, Custody And Accounting, Outsourcing Services, Securities Lending
By End-User: Capital Markets, Wealth Management Firms.
By Geography: The global asset servicing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American asset servicing was the largest region in the global asset servicing market 2019.
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Trends In The Asset Servicing Market
Robotic process automation (RPA) 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%. 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.
Asset Servicing Global Market Report 2020 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.