Asset Management Market to Reach $8.3 Trillion, Globally, by 2032 at 36.5% CAGR: Allied Market Research

The global asset management market is driven by rise in need for optimum utilization of assets  and rising adoption of cloud-based IT asset management solution.

PORTLAND, Ore., Aug. 2, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Asset management HYPERLINK "https://www.alliedmarketresearch.com/asset-management-market-A06192" Market by component (Solution, and Service), Asset type (Digital asset, Returnable Transport Assets, In-transit Assets, Manufacturing Assets, and Personnel/ Staff), Function (Location and Movement Tracking, Check-In/ Check-Out, Repair and Maintenance, and Others) and Application (Infrastructure Asset Management, Enterprise Asset Management, Healthcare Asset Management, Aviation Asset Management, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032. According to the report, the global asset management industry generated $376.82 billion in 2022, and is anticipated to generate $8280.73 billion by 2032, witnessing a CAGR of 36.5% from 2023 to 2032.

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Prime Determinants of Growth

The asset management market is influenced by several major drivers, restraints, and opportunities. The asset management market is rapidly developing as organizations attempt to increase efficiency and productivity by maximizing asset utilization. Furthermore, the market is being driven by the increasing adoption of cloud-based IT asset management systems, which enable organizations to centralize data, track assets in real-time, and realize cost savings, resulting in improved asset visibility and streamlined operations. However, lack of awareness and comprehension among SMEs, as well as financial limits, are important impediments to the asset management industry, preventing small and medium-sized businesses from receiving professional asset management services and investing in the sector. On the contrary, the rise of interconnected IT infrastructure creates a significant opportunity for the asset management market because it enables efficient data management, automation, real-time analytics, and improved communication, hence enhancing operational efficiency and decision-making capabilities.

Report Coverage & Details:

COVID-19 Scenario

• The impact of COVID-19 on the asset management market can be described as mixed. Initially, the pandemic had a negative effect on the market, as widespread economic uncertainty and market volatility led to significant declines in asset prices. Investor sentiment was cautious, leading to capital outflows and reduced investment activity.
• In addition, the pandemic highlighted the significance of expert wealth management in navigating unpredictable times. Investors needed asset managers' skills to lead their investments through the crisis and uncover potential opportunities in a rapidly shifting market.

The solution segment to maintain its leadership status throughout the forecast period

Based on component, the solution segment held the highest market share in 2022, accounting for more than three-fifths of the global asset management market revenue. This can be attributed to the fact that it offers comprehensive and customizable tools and software that help businesses efficiently track, monitor, and optimize their assets. However, the service segment is projected to manifest the fastest CAGR of 38.5% from 2023 to 2032, this is attribute to the fact that it enables to provide personalized and comprehensive investment solutions to meet the diverse needs of clients.

The digital assets segment to maintain its leadership status throughout the forecast period 

Based on asset type, digital asset segment held the highest market share in 2022, accounting for around one-third of the global asset management market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attribute to fact that its ability to offer increased accessibility, efficiency, and potential for higher returns compared to traditional asset classes. However, the in-transit assets segment is projected to manifest the fastest CAGR of 40.7% from 2023 to 2032, this is attribute to the fact that the increasing demand for real-time tracking, efficiency optimization, and risk management of assets during transportation.

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The aviation asset management segment to maintain its leadership status throughout the forecast period 

Based on application, aviation asset management segment held the highest market share in 2022, accounting for around half of the global asset management market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is attribute to the significant value and long lifespan of aviation assets, coupled with the need for specialized knowledge and expertise in managing these complex and expensive assets. However, the enterprise asset management segment is projected to manifest the fastest CAGR of 41.5% from 2023 to 2032, this is attribute to the ability to streamline operations, optimize resource allocation, and enhance maintenance strategies, resulting in increased efficiency and cost savings for organizations.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global asset management market revenue. Asset management firms in North America assist individuals, organizations, and institutions in managing their financial investments. These organizations provide portfolio management, financial planning, and investment advising services to clients in order to assist them to optimize their investment strategy, maximizing returns, and limiting risk. However, the Asia-Pacific region is expected to witness the fastest CAGR of 39.7% from 2023 to 2032, and is likely to dominate the market during the forecast period, owing to the expanding middle class in the region has resulted in increased savings and wealth accumulation. The need for asset management services such as investment funds, private banking, and wealth management has expanded as individuals and families seek to maintain and grow their money.

Leading Market Players: -

• ABB
• BlackRock, Inc.
• Charles Schwab Investment Management, Inc.
• FMR LLC.
• IBM Corporation
• J.P. Morgan Chase & Co.
• Morgan Stanley
• Oracle Corporation.
• Rockwell Automation Inc.
• SAP SE

The report provides a detailed analysis of these key players of the global asset management market. These players have adopted different strategies such as expansion and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the asset management market forecast from 2023 to 2032 to identify the prevailing asset management market opportunity.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the asset management market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes an analysis of the regional as well as global asset management market trends, key players, market segments, application areas, and market growth strategies.

Asset Management Market Report Highlights

By Component

• Solution
• Service

By Asset Type

• Digital Assets
• Returnable Transport Assets
• In-transit Assets
• Manufacturing Assets
• Personnel/ Staff

By Function

• Location and Movement Tracking
• Check-In/ Check-Out
• Repair and Maintenance
• Others

By Application

• Infrastructure Asset Management
• Enterprise Asset Management
• Healthcare Asset Management
• Aviation Asset Management
• Others

By Region

• North America (U.S., Canada)
• Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
• LAMEA (Latin America, Middle East, Africa)

Key Market Players

J.P. Morgan Chase & Co., FMR LLC., Charles Schwab Investment Management, Inc., Oracle Corporation, BlackRock, Inc., ABB, SAP SE, Morgan Stanley, Rockwell Automation Inc., IBM Corporation

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