Global Asset Management Market
The global asset management market size is expected to reach USD 586,66.94 Million by 2027, from USD 12,404.43 Million in 2021, at a CAGR of 12.3% during the forecast period (2020 - 2027). Growth in the market is underpinned by the growing volatility of global economy rate and increasing number of enterprises worldwide.
Asset management is the system that manages, supervises, and optimizes the business resources, assets, and protects customers. With increasing number of startups, especially across emerging economies such as India and China improve the need for asset protection. Small and medium sized enterprises are increasing the adoption of asset management solutions to optimize and utilize their resources and gain maximum revenues. These solutions and services aid the organizations to enhance their profits, save cost, reduce the losses, and increase the return of investments. Hence, key players are integrating cutting-edge technologies such as artificial intelligence (AI), big data science, and machine learning to provide real-time high-quality data. These technologies will also help the organizations to keep the track of data-flow in real-time.
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Top Players Company Profiles
• Brookfield Asset Management Inc. (Canada)
• ABB Inc. (Switzerland)
• Adobe Systems Incorporated (US)
• Honeywell International Inc. (US)
• WSP Global Inc. (Canada)
• IBM Corporation (US)
• Siemens AG (Germany)
• Zebra Technologies Corporation (US)
• Oracle Corporation (US)
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Recent Developments
• In January 2022, Ambit Asset Management announced the launch of ‘Ambit TenX Portfolio’ for high-net-worth investors to optimize the businesses and reduce the cost.
• In November 2021, Marathon Asset Management entered into a definitive agreement with Kaleo, a privately held pharmaceutical company to optimize and manage the data of the company.
• In April 2021, Zebra Technologies Corporation announced the collaboration with Connect Alliance Track for the non-reselling partners.
Key Market Trends
• Rapid digitization and adoption of advanced technologies such as AI, IoT, and big data science to optimize the data and improve the efficiency of the businesses through real-time high-quality data will drive the sales in the market.
• Reduced equipment downtime and need for optimized utilization of resources will improve the sales of asset management solutions. Increasing volume of data coupled with high risk of data breaches in IT and government sectors will push the adoption over the forecast period.
