Asset Management IT Solutions Market to Witness Exceptional Growth in 2020-2030 | TMR study

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Asset management refers to the management of tangible or intangible assets. An asset management company serves as an advisor to clients, with the goal of maximizing returns. Asset management companies are hired by institutional investors such as pension funds, corporations and high net worth individuals. Asset management companies need IT solutions to manage assets such as equities, fixed income, real estate, commodities and international investments. These IT solutions primarily include software solutions for business operations, including portfolio management, compliance and trade execution.

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The U.S. Asset Management IT Solutions Market was valued at US$1,005.7 million in 2019 and is expected to grow at a CAGR of 5.3% from 2020 for 2024, to reach a market size of US$1,298.2 million in 2024. Key drivers of growth in the United States Asset Management IT Solutions Market are the growth of exchange-traded funds (ETFs) and exchange-traded products (ETPs) and the growing complexity of financial regulations. On the other hand, regulatory issues and data security concerns are some of the major aspects hampering the growth of the market. The deployment of Robo-advisors should bring growth potential to players in the asset management IT solutions market.

The U.S. component-based asset management IT services market is expected to dominate the market throughout the forecast period till 2024. The field of enterprise data management services is expected to experience the fastest growing trends in terms of services offered by IT solution providers. Reporting solutions and services recorded the second largest market share in 2019 and this segment is expected to maintain its position throughout the forecast period, growing at a CAGR of 5.6% from 2020 for 2024.

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The U.S. application domain-based asset management IT solutions market is expected to expand at a CAGR of 4.9% from 2020 for 2024 due to the growing number of wealth managers in the U.S. Based on applications, portfolio management accounted for the largest share, holding nearly 19% of market share. This dominance can be mainly attributed to the growing customer base of investment management companies in the United States.

On-premises software solutions recorded the largest share of the IT asset management solutions market, followed by hybrid deployment. On-premises deployment is expected to hold a large share in the coming years due to growing cloud security concerns and to ensure data leakage prevention of critical customer financial information.

The US asset management IT solutions market has recorded a large market share in the northeastern United States. However, the highest growth is expected in the western region of the United States. This growth can be attributed to the increase in the number of investment management companies to meet the growing demand for asset management. Additionally, the adoption of big data in investment management is further supporting the growth of the asset management IT solutions market in the United States.

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The US market for IT asset management solutions is highly competitive. Leading players such as

  • Hewlett Packard Enterprise Development LP
  • FundCount, SoftTarget Inc.
  • SimCorp Inc
  • QED financial system,
  • eFront Financial Solutions
  • Broadridge Investment Management Solutions
  • ProTrak International
  • SunGard Financials
  • Credit Point Software

are intensely focused on expanding their solution portfolios to meet the needs of asset managers worldwide with their customized solutions. Most companies strategically seek long-term alliances with investment management companies in order to survive in this highly competitive market.

COVID-19 Outbreak Will Linger For Some Time For U.S. Asset Management IT Solutions Market

Asset management means the management of tangible and intangible assets. Generally, a portfolio management company acts as an advisor to its clients with the aim of improving and maximizing their returns. Different asset management companies are employed by institutional investors such as corporations, high net worth individuals, and pension funds, among others. Asset management companies need IT solutions to manage assets such as international investments, real estate, commodities, fixed income securities and stocks, among others. These IT solutions primarily include software solutions for business functions such as trade execution, portfolio management, and compliance, among others.

The key factors driving the growth of the US asset management IT solutions market are the growth of exchange-traded funds (ETFs) and exchange-traded products (ETPs), as well as the growing complexity of financial regulations. On the other hand, regulatory issues and data security concerns are some of the major aspects hampering the growth of the market. The deployment of Robo-advisors should bring growth potential to players in the asset management IT solutions market.

On-premises software solutions recorded the largest share of the IT asset management solutions market, followed by hybrid deployment. On-premises deployment is expected to hold a large share in the coming years due to growing cloud security concerns and to ensure data leakage prevention of critical customer financial information.

Impact of Covid-19

The outbreak of COVID-19 as a global pandemic has had a massive impact on the overall development of the Asset Management IT Solutions market. Due to shutdowns and other movement restrictions, market businesses are facing serious cash flow problems. Slowdown or halt in manufacturing of different electronic equipment or other retail products along with multiple disruptions in overall supply chain logistics across the globe are likely to hamper the solution market asset management software in the United States.

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