Custody Service Global Market Report 2023 – By Service (Core Custody Services, Ancillary Services, Core Depository Services, Other Administrative Services), By Type (Equity, Fixed Income, Alternative Asstes, Other Types) – Market Size, Trends, And Global Forecast 2023-2032

Asset Servicing Market Definition

Asset servicing refers to the group of tasks and activities provided by a custodian to its clients for the assets he has under custody. The asset servicing market consists of sales of asset servicing services including reorganization and proxy services, safekeeping services for physical securities, dividends, electronic registration and transfer of securities. The asset servicing industry is a critical component of global financial markets and plays a vital role in the safekeeping of financial assets. Asset servicing provides asset holders with front, middle and back-office solutions to help them manage their assets in the changing and complex investment landscape. It combines a wide range of portfolio analysis services, in-depth wealth insights and investment control. Asset servicing providers help in leveraging analytics and cognitive computing to develop trade algorithms that make predictions based on historical data. Asset service providers also help in improving efficiency, reducing risk and enhancing the quality of service to clients. The main services offered in asset servicing are fund services, custody and accounting, outsourcing services and securities lending. The asset servicing market is segmented by end-user into capital markets and wealth management firms. The services are offered to large enterprises, medium and small enterprises of capital markets and wealth management firms.

Legal services refers to any service related to the conduct of any case or other legal proceeding before any court, different authority, or tribunal, as well as the provision of legal advice. Legal service is regarded as central in providing access to justice by ensuring equality before the law, the right to counsel and the right to a fair trial. The main types of legal services are B2B legal services, B2C legal services, hybrid legal services, and criminal law practices. Commercial law firms typically provide B2B legal services. Listed corporations, government agencies, small and medium-sized businesses, and high-net-worth individuals are among the clients of commercial law firms. The different types of practises include litigation, corporate, labor/employment, real estate, patent litigation, tax, bankruptcy, others (regulatory, M&A, antitrust, environmental) and involve various company sizes, such as large law firms, SME law firms. The several sectors include individuals, financial services, mining and oil & gas, manufacturing, construction, IT services and others. The global legal services market is segmented - 1) By Type: B2B Legal Services, B2C Legal Services, Hybrid Legal Services, Criminal Law Practices 2) By Size: Large Law Firms, SME Law Firms 3) By End-Users: Individuals, Financial Services, Mining And Oil & Gas, Manufacturing, Construction, IT Services, Other End-Users 4) By Type Of Practice: Litigation, Corporate, Labor/Employment, Real Estate, Patent Litigation, Tax, Bankruptcy, Other Type Of Practices (Regulatory, M&A, Antitrust, Environmental) 5) By Mode: Online, Offline The global legal services market size grew from $787.28 billion in 2022 to $838.92 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The market size of global legal services market is expected to grow from $1,034.52 billion in 2027 at a CAGR of 5.4%. Globally, changes in political structures, legal reforms, and trade agreements are creating opportunities for law firms. International companies and organizations are bound to comply with various laws and regulations of different countries and specific trade agreements. Changes in the legal structure of intrastate agreements increase the demand for legal services. For instance, the UK's exit from the European Union is expected to increase the demand for legal services due to the complexity of the regulatory and legislative changes pertaining to jurisdiction, judicial structure, and trade. Law firms such as Dechert, Simmons & Simmons, Clifford Chance, and DLA Piper have set up specialized BREXIT teams and hotlines staffed with lawyers to help clients with a smooth transition. Going forward, the USA's withdrawal from the Trans-Pacific Partnership, the Paris Agreement, and the Korea trade deal is expected to further drive the demand for legal services in the future. Major companies in the legal services market include Latham & Watkins LLP, Kirkland & Ellis LLP, DLA Piper, Baker & McKenzie, Dentons, Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates, Sidley Austin LLP, Morgan, Lewis & Bockius LLP, Linklaters LLP, and Jones Day. The outbreak of COVID-19 Pandemic (COVID-19) has acted as a restraint on the legal services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of "lock down" and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the legal services market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Due to the increasing incidence of cybercrime, law firms around the world are offering cybercrime legal consulting services to their clients. Cybercrime refers to a crime that is committed using an internet connection and a computer. This includes cyber-stalking, counterfeiting, money laundering, embezzlement, fraud, and tax evasion using the internet and electronic devices. In the UK alone, around $35 billion is the estimated annual cost of cybercrime. Law firms offering cybercrime consulting services employ lawyers, consultants, and ethical hackers who are experienced in handling crisis management, online financial theft, loss of data, data privacy, and intellectual property infringement. Large law firms practicing in the field of data privacy and cybersecurity include Latham & Watkins, DLA Piper, and Skadden, Arps, Slate, Meagher & Flom. Global demand for cybercrime legal consulting services is expected to rise as organizations and individuals become more concerned about cybercrime. North America was the largest region in the legal services market in 2022. Western Europe was the second largest region in the legal services market. The regions covered in the global legal services market analysisreport are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the legal services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The legal services market consists of revenue earned by entities by providing services such as advising clients (individuals, businesses or other entities) about their legal rights and responsibilities, and representing clients in civil or criminal cases, business transactions and other matters, in which legal advice and other assistance are sought. Legal services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or a team is responsible for the delivery of services to the client. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The legal services market research report is one of a series of new reports from The Business Research Company that provides legal services market statistics, including legal services industry global market size, regional shares, competitors with a legal services market share, detailed legal services market segments, market trends and opportunities, and any further data you may need to thrive in the legal services industry. This legal services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Business-to-business legal services essentially provide services when there is a dispute between two or more businesses or corporate entities, sole proprietors or firms, and another company or individual. Legal services are required for the smooth functioning of your business. The main types of B2B legal services are civil or criminal, mergers and acquisitions, business transactions, and others. Mergers and acquisitions are deals in which two companies combine in some way. In a merger, two companies of comparable size join forces to form a new corporate entity. An acquisition, on the other hand, occurs when a larger corporation acquires a smaller company, absorbing the smaller company's business. The services is divided into size of the law forms such as large law firms and small law firms and the services are used by listed corporations, government institutions, small and medium-sized enterprises, high net worth individuals, and others. The global B2B legal services market is segmented - 1) By Service Type: Civil or Criminal, Mergers and Acquisitions, Business Transactions, Other Services 2) By End-user: Listed Corporations, Government Institutions, Small and Medium-sized Enterprises, High Net worth Individuals, Other End-Users 3) By Size of Law Firm: Large law firms, SME law firms The global b2b legal services market size will grow from $431.6 billion in 2022 to $459.59 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of b2b legal services is expected to grow from $563.45 billion in 2027 at a compound annual growth rate (CAGR) of 5.2%. An Increase in the number of mergers and acquisitions contributed to the growth of the B2B legal services market. For completing mergers and acquisitions transactions, the companies require to consult legal firms for finalizing the deal. According to Refinitiv data, the total value of disclosed pending and completed deals in 2021 has already surpassed $3.6 trillion year to date, surpassing the full-year total of $3.59 trillion in 2020. The increase in the number of mergers and acquisitions drove the B2B legal services market. Major players in the B2B legal services market are Latham & Watkins LLP, Kirkland & Ellis LLP, DLA Piper, Baker & McKenzie, Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates, Sidley Austin LLP, Morgan, Lewis & Bockius LLP, Linklaters LLP, Jones Day and Allen & Overy LLP. The shortage of skilled workforce in the industry is expected to limit the B2B legal services market. The effects of skilled workforce shortage are high turnover rate, ineffective staff management, increased business expenses, and loss of customers. According to new study into the extent of the skills shortage conducted by The Lawyer in 2021, 58% of legal organisations are currently feeling the strain of a lack of competent workers. The shortage of qualified workforce reduces the effectiveness of the firms output and negatively affects B2B legal services market. Legal service firms are using blockchain to provide a secure way to make transactions and record that transparently. Blockchain is open, distributed ledger that record transactions between the two association or companies efficiently and permanent way. According to a law firm research report in 2020, 41% of law firms will employ blockchain in transactional legal services, 21% for business assistance, and the remaining 31% for high-value legal services. Smart contracts are created digitally and verifiable since they are on the blockchain. Smart contracts help lawyers spend more time on legal advising instead of drafting legal documents. For instance, Chainlink is a start-up that developed technology that relies on data from multiple sources and makes smart contracts more attractive. Blockchain and smart contracts offer several advantages such as secure transactions, transparent records, less paperwork, and more time for advising clients. In January 2020, UK based law firm DWF acquired Chicago-based managed services business Mindcrest for a deal amount of $18.5 million. DWF gets a readymade low-cost legal center through this acquisition that will bolt on to the existing managed legal services capabilities. Mindcrest provides litigation support, contracts, compliance, and legal analytics for corporate clients. North America was the largest region in the b2b legal services market in 2022. Western Europe was the second largest region in global b2b legal services market share. The regions covered in global b2b legal services market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the B2B legal services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The B2B legal services market consists of revenue earned by entities by providing services such as advising corporate clients on the body of law that governs disputes between businesses and representing corporate clients in civil cases, business transactions and other matters in which legal advice and other assistance are sought. Civil laws deal with disputes between private parties such as defamation, professional negligence, inheritance, breach of contract, property disputes and others. This segment excludes legal services offered during disputes between businesses and individuals. B2B legal services are usually provided by commercial law firms. Clients of commercial law firms include listed corporations, government institutions, small and medium-sized enterprises and high net worth individuals. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales along the supply chain or as part of other products.

Legal software is software used by legal professionals to perform tasks specifically related to legal affairs and the operation of law firms. The various type of technologies of legal software is machine learning, deep learning, and natural language processing. Natural language and processing uses algorithms to interpret and manipulate human language and is a subfield of linguistics, computer science, and artificial intelligence. The deployment modes are cloud and on-premise. The various applications of the market are Ediscovery, and legal research. The different end users are corporate legal departments and law firms. The global legal software (focus on machine learning) market is segmented – 1) By Application: Ediscovery, Legal Research 2) By End User: Corporate Legal Departments, Law Firms 3) By Technology: Machine Learning And Deep Learning, Natural Language Processing 4) By Deployment Mode: Cloud, On-Premise The global legal software market size will grow from $0.39 billion in 2022 to $0.44 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global legal software is expected to grow to $0.72 billion in 2027 at a CAGR of 12.7%. Increasing demand for intelligent business processes in law firms is driving the growth of the machine learning market. Intelligent business process includes the adoption of artificial intelligence (AI) or machine learning in business processes. AI is the development of system that has the ability to perform tasks requiring human intelligence. Software solutions are highly adopted in developed countries like the USA to achieve benefits, such as contract management and efficient legal data analysis. Machine learning helps legal firms and professionals to manage their huge data and derive insights from them. According to Legal Technology Survey Report by ABA Surveying, 35% of respondents from large firms with over 500 attorneys reported they used AI and 16% of respondents at firms with 100 or more attorneys were most likely considering an AI purchase. The growing demand to adopt machine learning in the law firms drives the market. Major players in the legal software market are Microsoft Corporation, IBM Corporation, Google Inc., Baidu Inc., Hewlett Packard Enterprise Development LP (HPE), Intel Corporation, SAP SE, SAS Institute Inc., BigMLInc., Fair Isaac Corporation (FICO), Wipro, Nuance Communications, KNIME.com AG, RapidMinerInc., Angoss Software Corporation, H2O.ai, Alpine Data, Domino Data LabInc., Dataiku, Luminoso TechnologiesInc., TrademarkVision, Fractal Analytics Inc., TIBCO Software Inc., Teradata, Dell Inc., and Oracle Corporation. Machine learning market is restrained due to lack of awareness among law firms. Data, information and knowledge together constitute a vital business asset for law firms in decision making process. Law firms face an increasingly competitive market as large accounting firms are re-establishing their legal practices and reducing the amount of work available to the legal firms. According to survey by Bloomberg Law, only 24% of law firms use machine learning or AI indicating the knowledge gap an underuse of the technology. The lack of awareness thus hampers the growth of legal software market. Many online platforms have been introduced that provide potential clients to connect with lawyers for simple services that include trademark registration, leases, registration and execution of wills, contracts and lease agreements, dishonoring of cheques, recovering suits, and consumer complaints. For instance, LegalZoom, a US-based firms helps you find attorneys without any hourly fees, and documents provided by this firm are accepted by courts and government agencies across all 50 states. This trend in providing online services will drive the demand for legal software. Legal software that includes artificial intelligence (AI) and machine learning (ML) are yet to be fully regulated by governing bodies in order to protect the confidential data involved in the processes. For instance, the Indian government has set to regulate the development and implementation of AI. However, countries such as the USA are contemplating over the thought to regulate ML and AI as there could be a threat in legally constraining the ML or AI before it could fully be developed in practice. In November 2020, Onit, Inc., a USA-based provider of enterprise spend management software acquired McCarthyFinch for an undisclosed amount. Through this acquisition Onit, Inc. intends to use the McCarthyFinch’s AI skills to beef up its legal workflow software offerings. McCarthyFinch, an Auckland based company specialized in Artificial Intelligence, Natural Language, Deep Learning, Machine Learning, Data Science, Law, LegalTech, and LegalAI. The Asia-Pacific was the largest region in the legal software market in 2022. Asia-Pacific is expected to be the fastest-growing region in the legal software market share during the forecast period. The regions covered in the global legal software market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the legal software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The legal software market includes revenues earned by entities by offering software which is used to deliver solutions and services using artificial intelligence and machine learning for corporate legal departments and law firms. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The legal software market research report is one of a series of new reports from The Business Research Company that provides legal software market statistics, including legal software industry, global legal software market size, regional shares, competitors with a legal software market share, detailed legal software market segments, market trends and opportunities, and any further data you may need to thrive in the legal software industry. This legal software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Lawful interception refers to legally sanctioned surveillance of communication between individuals by law enforcement agencies through phone, email, and other electronic means of tapping. In lawful interception, the service provider provides law enforcement officials with intercepted communications of private individuals or organizations. The main types of devices in lawful interception are mediation devices, routers, intercept access points (IAP), gateways, switches, management servers, and others. The mediation device allows two different devices to interconnect through it by offering such services as protocol conversion and mediation. The mediation devices are used to provide the interface to set up and provision the lawful intercept. The various network technology used a voice-over-internet protocol (VOIP), long-term evolution (LTE), wireless local area network (WLAN), worldwide interoperability for microwave Access (WiMAX), digital subscriber line (DSL), public switched telephone network (PSTN), integrated services for the digital network (ISDN) and others. The different communication content includes voice communication, video, text messaging, facsimile, digital pictures, and file transfer. The lawful interception end users are lawful enforcement agencies and the government. The global lawful interception market is segmented - 1) By Device: Mediation Devices, Routers,Intercept Access Point (IAP),Gateways,Switches, Management Servers, Other Devices 2) By Network Technology: Voice-Over-Internet Protocol (VoIP), Long Term Evolution (LTE), Wireless Local Area Network (WLAN),Worldwide Interoperability for Microwave Access (WiMAX),Digital Subscriber Line (DSL),Public Switched Telephone Network (PSTN), Integrated Services for Digital Network (ISDN), Other Network Technologies 3) By Communication Content: Voice Communication, Video,By End User: Lawful Enforcement Agencies, Government, Text Messaging, Facsimile,Digital Pictures, File Transfer 4) By End User: Lawful Enforcement Agencies, Government The global lawful interception market size will grow from $3.57 billion in 2022 to $4.34 billion in 2023 at a compound annual growth rate (CAGR) of 21.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global lawful interception is expected to grow to $9.54 billion in 2027 at a CAGR of 21.7%. The increase in cybercrimes are expected to propel the growth of the lawful interception market. Cybercrimes are defined as the increasing number of cyber-attacks through social media, the internet, and hacking software. The increased cybercrimes are responsible for the growth of lawful interceptions as it is a key tool for identifying crimes. For instance, according to the Legal jobs portal, Data breaches exposed over 4 billion records and doubled to 9.6 billion by the end of the year it involves 28% of the malware 52% of hacking, and 26% of cybercrimes by intentions traced to espionage and other such reasons. Therefore, increasing cybercrimes drive the lawful interception market. Major players in the lawful interception market are Utimaco, Vocal Technologies, AQSACOM, Verint, BAE Systems, SS8 Networks., Signalogic, IPS S.P.A., Tracespan, Accuris Networks, EVE Compliancy Solutions, Squire Technologies, Incognito Software, Incognito Software, Net Optics, and Ixia. The deployment of 5G networks is a key trend gaining popularity in the lawful interception market. 5G networks emerged as a vital technology that is being used by various industries. 5G is helpful in lawful interception by providing virtualization and containerization, triggering, security, and standardized X-interfaces. For instance, 5G networks are expected to cover one-third of the world’s population and also account for 1.2 billion connections by 2025. Therefore, the deployment of 5G networks is an emerging trend in the lawful interception market. In November 2021, SS8 networks, a US-based company operating in the lawful interception, lawful intelligence, and monitoring center platforms partnered with Ocient. This partnership enables limitless scale analytics while delivering a low cost of ownership and can LEAs can leverage full-resolution data sets with typically one-fifth of the storage footprint of copy-based data management solutions and the customers benefit from efficient deployment and simplicity with SS8. Ocient is a US-based company operating in a lawful interception. North America was the largest region in the lawful interception market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lawful interception market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the lawful interception market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The lawful interception market consists of revenues earned by entities that are engaged in providing services such as authentication, virtual networks, local area networks, the internet of things, telecommunication, law enforcement, and networking function. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The lawful interception market research report is one of a series of new reports from The Business Research Company that provides lawful interception market statistics, including the lawful interception industry global market size, regional shares, competitors with a lawful interception market share, detailed lawful interception market segments, market trends and opportunities, and any further data you may need to thrive in the lawful interception industry. This lawful interception market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A narcotics scanner is a specialized security device utilized for security against the threat of drug smuggling. These are used to protect public places and country borders from the unauthorized use and movement of drugs. The main types of products in narcotics scanners are handheld scanners, tabletop scanners, and walkthrough scanners. The handheld narcotics scanner are portable drug test analyzers. This can be digitally stored, edited, emailed within the digital network. The technologies involved in narcotics scanners are ion mobility spectrum technology, contraband detection equipment, a video scope inspection system, infrared spectroscopy that is used by various sectors such as airports, sea ports, law enforcement, railway terminal, defense and military, others. The global narcotics scanner market is segmented - 1) By Product Type: Handheld Scanner, Tabletop Scanner, Walkthrough Scanner 2) By Technology: Ion Mobility Spectrum Technology, Contraband Detection Equipment, Videoscope Inspection System, Infrared Spectroscopy 3) By End-User: Airport, Sea Port, Railway Terminal, Law Enforcement, Defense And Military, Other End-Users The global narcotics scanner market size grew from $6.36 billion in 2022 to $7.02 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the narcotics scanner market size is expected to grow to $9.5 billion in 2027 at a CAGR of 7.9%. Constant surge in the number of drug users is significantly contributing to the growth of the narcotics scanner market. The COVID-19 crisis resulted in great poverty, unemployment, social pressures, and mental health issues, all of which intensified drug users' addiction. A narcotics scanner is a security device that is being used to detect drugs and hazardous substances taken by drug users. For instance, according to United Nations Office on Drugs and Crime (UNODC) 2021 World Drug Report, around 275 million drugs users were reported in 2020, and over 36 million people suffered from drug use disorders worldwide. Therefore, the constant surge in the number of drug users is expected to drive the growth of the narcotics scanner market going forward. Major players in the narcotics scanner market are Astrophysics Inc., Bruker Corporation, Thermo Fisher Scientific Inc., KLIPPER Enterprises, NUCTECH Company Ltd., OSI Systems Inc., Smiths Group PLC, Leidos, Viken Detection, Autoclear, Kapri Corp., CDex Inc., TactiScan, DetectaChem, and Rapiscan Systems. Technological advancements are shaping the narcotics scanner market. Major companies operating in the narcotics scanner sector are focused on developing new technological solutions to strengthen their position. For instance, in February 2021, the Korea Institute of Materials Science researchers developed very quick and reliable wearable sensors using nanomaterial technology to provide on-site drug detection. This optical sensor detects narcotics in sweat and amplifies the optical signal of illegal drugs onto flexible and wearable material. In January 2021, Teledyne Technologies Incorporated, a US-based technology company, acquired FLIR Systems Inc. for $8.2 billion. Through this acquisition, Teledyne aimed to grow its portfolio and deliver a full spectrum of imaging products and technologies. FLIR Systems Inc. is a US-based company that designs and manufacture drugs and narcotics scanner systems. North America was the largest region in the narcotics scanner market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the narcotics scanner market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the narcotics scanner market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The narcotics scanner market consists of sales of body scanners, baggage scanners, and freight scanners. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The narcotics scanner research report is one of a series of new reports from The Business Research Company that provides narcotics scanner statistics, including narcotics scanner industry global market size, regional shares, competitors with narcotics scanner share, detailed narcotics scanner segments, market trends and opportunities, and any further data you may need to thrive in the narcotics scanner industry. This narcotics scanner research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Digital rights management (DRM) is a method of protecting digital media copyrights. This approach includes the use of technologies that limit the copying and use of copyrighted works and proprietary software. Digital rights management allows authors, movie professionals, musicians, and other creators to prevent unauthorized use of their content. The main applications of digital rights management are mobile content, video on demand, mobile gaming, eBooks, and others. Mobile content digital rights management refers to the collective methods and technologies which provide safe distribution of content and media on mobile devices. It offers approaches for mobile content creators to implement policies, limitations, and protection against duplication on mobile devices. The end users of digital rights management include SMEs and large enterprises. Digital rights management is used by industries such as healthcare, music, education, BFSI, legal/law, printing and publication, software, television and film, and others through on-premise and cloud deployment modes. The digital rights management market research report is one of a series of new reports from The Business Research Company that provides digital rights management market statistics, including digital rights management industry global market size, regional shares, competitors with a digital rights management market share, detailed digital rights management market segments, market trends and opportunities, and any further data you may need to thrive in the digital rights management industry. This digital rights management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global digital rights management market size will grow from $4.47 billion in 2022 to $5.21 billion in 2023 at a compound annual growth rate (CAGR) of 16.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global digital rights management is expected to grow to $9.85 billion in 2027 at a CAGR of 17.3%. Increasing security concerns have contributed to the growth of the digital rights management market. The extensive use of PCs and laptops has led to an increase in the number of hackers who intrude into corporate and government networks to access and steal critical information for monetary and business gains. Additionally, corporations are looking for a real-time approach to business data along with transmitting and storing data across mobile devices, the cloud, universal serial bus (USB), and disks. For instance, according to the InfoSecurity reports, ransomware damages are expected to exceed $30 billion globally in 2023. This number is still set to rise as cyberattacks are becoming more complex and difficult to detect. Digital rights management is also used by healthcare organizations and financial services firms to ensure compliance with data privacy and protection standards such as HIPAA (Health Insurance Portability and Accountability) and Gramm-Leach-Bliley Act (GLB Act or GLBA). Hence, the rise in security concerns is expected to create avenues for market growth in the digital rights management market. Major players in the digital rights management market are Adobe Systems, Apple Inc., Dell EMC Corporation, Oracle Corporation, Microsoft Corporation, Fasoo Inc., Seclore Technology, Sony Corporation, Verisign Inc., Hewlett-Packard, Vera Security Inc., Vitrium Systems Inc., Nextlabs Inc., Intertrust Technologies Corporation, and Vobile Inc. The advancements in data security technologies are gaining popularity in the digital rights management market. Digital rights management permits publishers or authors to regulate what paying users can do with their works. Technological advancements such as deceptive network technology and the adoption of end-to-end encryption further secure sensitive data from cyber-attacks. For instance, in February 2021, RAIR Technologies Inc., launched a decentralized digital rights management platform, built to power digital scarcity for creators. In September 2021, Hewlett Packard Enterprise, a US-based edge-to-cloud company, acquired Zerto, a production leader in cloud data management and security, for a deal value of $374 million. This acquisition positions the HPE GreenLake edge-to-cloud platform in the high-growth data protection market with a proven solution and further propels HPE’s storage business into a cloud-native, software-defined data services business. Zerto is a US-based industry leader in cloud data management and protection. North America was the largest region in the digital rights management market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital rights management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the Digital Rights Management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The digital rights management market includes revenues earned by entities by providing services such as software licenses and keys, user authentication and IP authentication protocols, proxy servers, virtual private networks (VPNs), regional restriction or geoblocking. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Asset servicing refers to a set of tasks and activities performed by a custodian for his clients in relation to the assets in his custody. The main services offered in asset servicing are fund services, custody and accounting, outsourcing services, and securities lending. Securities lending is the process of lending shares of stock, commodities, derivative contracts, or other securities to other investors or firms. The borrower must put up collateral in the form of cash, other assets, or a letter of credit when applying for a security loan. The services are offered to large enterprises, medium-sized and small enterprises, capital markets, and wealth management firms. The global asset servicing market is segmented – 1) By Service: Fund Services, Custody and Accounting, Outsourcing Services, Securities Lending 2) By End User: Capital Markets, Wealth Management Firms 3) By Enterprise Size: Large Enterprises, Medium and Small Enterprises The global asset servicing market size will grow from $1159.45 billion in 2022 to $1277.82 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global asset servicing market size is expected to grow to $1830.69 billion in 2027 at a CAGR of 9.4%. Globalization acts as a major driver for the growth of the asset servicing industry. According to a study on global asset servicing, nearly 60% of asset services in Assets Under Administration (AUA) and Assets Under Contract (AUC) predict that globalization is likely to be a strong driver for the asset servicing market’s growth over the forecast period. The players dealing in the asset servicing industry are majorly focusing on the APAC markets and other growing economies. Moreover, according to the BNP Paribas Securities Services article published in January 2020, India was expected to experience impressive growth in the asset management and servicing industry owing to the increasing working population, the rising buying power of the populace, and expected growth in the GDP of the country. Thus, globalization creates a large avenue for the expansion and growth of the asset servicing market over the forecast period. Major players in the asset servicing market are National Australia Bank Limited, CACEIS, BNY Mellon, HSBC, JP Morgan, Citi, The Bank of New York Mellon Corporation (BNY Mellon), State Street Corporation, UBS, and Clearstream (Deutsche Börse Group). The stringent regulatory framework is predicted to limit the growth of the asset servicing industry over the forecast period. According to Funds Europe’s asset servicing roundtable, rising global regulation is adding cost and risk to asset servicing, creating a requirement for asset servicers to constantly engage with clients and regulators. In addition to this, according to EY’s new opportunities for asset servicing study, nearly 75% of the companies see the impact of regulations as the greater risk facing the asset servicing industry. Therefore, the increased scrutiny from regulatory agencies is anticipated to hinder the asset service market’s growth in the forecast period. Robotic process automation (RPA) or 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 asset servicing industry while also achieving cost savings of approximately 30–40%. Robotic process automation (RPA) refers to a set of software tools known as bots or robots that are used to perform a repetitive or routine business process that is currently used by transaction processing teams or service centers. RPA can replace manual tasks involved in asset 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. In April 2020, JP Morgan sought to take whole ownership of China International Fund Management (CIFM), a local asset management firm, for an amount of $1 billion. This step was taken following China's reforms on the elimination of caps on foreign companies' taking full control of local asset management operations. This acquisition is expected to enable JP Morgan's long-term involvement with CIFM and strengthen the company’s position in the Chinese market. China International Fund Management (CIFM) was founded in 2004 and offers asset management and related services to China. North America was the largest region in the asset servicing market in 2022. Western Europe was the second largest region in the global asset management market share. The regions covered in the global asset servicing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the asset servicing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The asset servicing market consists of revenues earned by entities by providing administration services through a central securities depository (CSD) or custodian in connection with the custody and/or safekeeping of financial instruments (e.g., the processing of corporate events or the handling of taxes) on a fee or commission basis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The asset servicing research report is one of a series of new reports from The Business Research Company that provides asset servicing statistics, including asset servicing industry global market size, regional shares, competitors with asset servicing shares, detailed asset servicing segments, market trends and opportunities, and any further data you may need to thrive in the asset servicing industry. This asset servicing research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.