Asset Management IT Solution Market: Introduction
Transparency Market Research delivers key insights on the global asset management IT solution market. In terms of revenue, the global asset management IT solution market is estimated to expand at a CAGR of ~11% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global asset management IT solution market.
Asset management IT solutions refer to managing tangible or intangible assets. An asset management IT solution company serves as an advisor to clients, with a goal to maximize returns. Asset management IT solutions consist mainly of software solutions for business operations, including portfolio management, compliance, and trade execution. The solutions further support the asset manager in the decision making process, as they hold critical data on portfolios and stipulated investment guidelines, risk exposures, and compliances.
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Asset management firms are hired by institutional investors such as pension funds, corporations, and high net worth individuals. The asset management firm needs IT solutions for managing assets such as equity, fixed income, real estate, commodities, and international investments. Furthermore, the surge in the demand for asset management IT solutions by asset managers could be attributed to the rising adoption of smartphones and growing Internet penetration, as they provide real-time information about portfolios to clients. This, in turn, is expected to fuel the asset management IT solution market during the forecast period.
Asset Management IT Solution Market: Dynamics
Asset management IT solutions enable enterprises to have a clear understanding of the assets they own and ensure they are being utilized in an efficient and cost effective manner, keep track and record of when equipment is bought, and if there is a tenancy lapsing on the asset. Similarly, with the software, it is obligatory to stay well-informed regarding the most recent software and OS. Asset management IT solutions identify whether any harmful or unapproved hardware or software has been installed. Additionally, it allows asset managers to remove any concerning vulnerabilities and avert major issues, thereby ensuring compliance with commercial security policies.
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For instance, COVID-19’s economic effect has pushed business leaders to find innovative ways to control and manage their IT budgets. Hence, organizations need to balance temporary IT-cost cutting with long-standing IT cost optimization. Toward the end, businesses should emphasize on reducing asset related expenditure in service of cloud-based systems that helps to mitigate immediate financial pressures.
Furthermore, asset management IT solution security offers an inclusive IT asset inventory and empowers security teams, and the overall business to enforce their network security policies. Cybersecurity asset management includes the identification of cloud assets that are vulnerable due to lack of access control or insecure software. Asset management IT solution security places businesses in a stronger position to detect and respond to security risks.
For instance, according to KPMG CIO Survey 2020, 39% organizations of asset management IT solution providers have experienced an escalation in cyber cases, due to remote working with malware, with spear phishing attacks topping the list.
Asset Management IT Solution Market: Prominent Regions
The North America asset management IT solution market is expected to grow significantly during the forecast period. The adoption of robo-advisory services in North America increases the demand for asset management IT solutions in financial institutes to make the decision-making process easier in terms of organizational assets and wealth management. North America is a technological hub for new technologies and innovation. The increasing demand for advisory services in North America provides the perfect base for new advancements in the asset management IT solution market. Most major market players have their headquarters in the U.S. This, along with rise in the demand to increase asset management IT solutions in the U.S., has increased the demand for asset optimization solutions.
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In the Asia Pacific region, asset management IT solutions are projected to expand at a robust pace during the forecast period. In the region, large enterprises are expected to adopt asset management IT solutions at a higher rate during the forecast period. Asia Pacific is projected to witness the highest CAGR with major dominance by China, Japan, South Korea, and India by the end of the forecast period. Governments in these countries are extensively adopting digital tools in order to reach out to citizens digitally. Asia Pacific has emerging economies, which are focusing on enhancing digital activities.
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Asset Management IT Solution Market: Key Players
Key players operating in the global asset management IT solution market are Alibaba.com, Asset Panda, BMC Software, Inc. (KKR), Dell Technologies, Inc., Flexera Software LLC, Freshworks Inc., Hewlett Packard Enterprise Development LP, IBM Corporation, Infor, Inc., Ivanti Software, Inc., ManageEngine (ZOHO Corp.), Microsoft Corporation, NinjaRMM, LLC, Oracle Corporation, SAP SE, ServiceNow Inc., SimCorp A/S, Snow Software, Inc., SolarWinds, SyAM Software Inc., and SysAid Technologies Ltd.
Global Asset Management IT Solution Market: Segmentation
Asset Management IT Solution Market, by Component
- Portfolio Management
- Compliance & Risk Management
- Client Statements & Reporting
- Trade Order Management
- Workflow Automation
- Benchmarking and Cash Flow & Accounting
- Consulting & Integration
- Support & Maintenance
Asset Management IT Solution Market, by Deployment
Asset Management IT Solution Market, by Enterprise Size
- Large Enterprise
Asset Management IT Solution Market, by End User
- IT & Telecom
- Retail & eCommerce
- Energy & Utilities
- Others (Transportation, Media & Entertainment, etc.)
Asset Management IT Solution Market, by Region
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa (MEA)
- South America
- Rest of South America
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