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The asset management market in Canada size is forecast to increase by USD 67,172.2 billion at a CAGR of 29.3% between 2023 and 2028. The market is experiencing significant growth driven by the increasing number of high-net-worth individuals (HNWIs) globally, leading to an increase in demand for professional asset management services such as wealth management services. Additionally, the growth of mutual fund assets in developing nations is contributing to market expansion. However, the market faces challenges such as transaction risks, regulatory compliance, and increasing competition. Asset managers must navigate these challenges while delivering superior returns to their clients to remain competitive. The market trend towards increased automation and digitalization is also transforming the asset management landscape, with the adoption of artificial intelligence and machine learning technologies becoming increasingly common. Overall, the asset management market is poised for continued growth, driven by the increasing wealth of individuals and institutions and the ongoing digital transformation of the industry. The market report forecast market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
The asset management market is experiencing significant growth due to the increasing adoption of customer-centric relationships in asset-intensive organizations. The integration of advanced technologies such as artificial intelligence (AI) and augmented reality (AR) into asset management solutions is streamlining operations and enabling optimum utilization of assets. The Internet of Things (IoT) is playing a crucial role in real-time monitoring and management of digital and in-transit assets, leading to cost savings and improved efficiency. Asset classes such as stocks, bonds, and mutual funds are being managed digitally using interconnected IT infrastructure and data analytics. Cloud technology is facilitating the easy accessibility of asset information from anywhere, at any time. In the aviation and hospital industries, asset management is crucial for the repair and maintenance of in-transit equipment. The integration of AI and AR in asset management is revolutionizing the industry, providing predictive maintenance and enhancing the overall asset management experience. Asset management solutions are becoming more sophisticated, enabling organizations to make informed decisions about their assets, leading to increased productivity and cost savings. The future of asset management lies in the integration of advanced technologies and a customer-centric approach to asset management.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The solution segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth due to the increasing focus on customer-centric relationships in asset-intensive organizations. Advanced technologies such as Artificial Intelligence (AI) and Augmented Reality (AR) are revolutionizing asset management solutions by streamlining operations and enhancing operational efficiency. The Internet of Things (IoT) is enabling real-time location tracking, inventory management, and in-transit management of digital assets. Geographical Information Systems (GIS) and image-based barcode scanners offer financial transparency and mobile accessibility, while cloud-based solutions ensure remote access and interoperability for data exchange.
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The solution segment accounted for USD 5.41 billion in 2018. Asset management solutions are also incorporating Real-Time Location Systems (RTLS) for infrastructure management and repair and maintenance. Businesses are leveraging asset management solutions to optimize asset utilization, extend asset lifespan, and improve strategic management through data-driven insights and e-commerce capabilities. Support services and repair and maintenance are essential components of asset management, ensuring optimal performance and reducing downtime. The interconnected IT infrastructure of asset management solutions offers a significant return on investment (RoI) by improving operational efficiency and financial transparency.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising number of high-net-worth individuals (HNWIs) globally is notably driving market growth. In the asset-intensive organizations sector, customer-centric relationships are paramount. Asset management solutions have become essential for streamlining operations and maximizing return on investment (RoI). In 2023, advanced technologies such as Artificial Intelligence (AI) and Augmented Reality (AR) are transforming asset management. IoT integration, including Image-based barcode scanners and Real-Time Location Systems (RTLS), enhances inventory management and location tracking.
Further, Geographical Information Systems (GIS) provide financial transparency for digital assets, in-transit management, and repair and maintenance. Strategic management of infrastructure and operational efficiency are facilitated by cloud-based solutions, mobile accessibility, interoperability, and data exchange. Business intelligence tools offer optimum utilization insights, while interconnected IT infrastructure supports e-commerce and support services. Asset lifespan and asset management market trends prioritize asset management solutions that provide remote access, real-time data, and long-term value. Thus, such factors are driving the growth of the market during the forecast period.
The growth of mutual fund assets in developing nations is the key trend in the market. The market has witnessed significant growth in various asset-intensive organizations, driven by customer-centric relationships and the need for streamlined operations. Artificial Intelligence in Asset Management and Augmented Reality (AR) are transforming asset management solutions, offering real-time inventory management and location tracking through the Internet of Things (IoT). Geographical Information Systems (GIS) and image-based barcode scanners enhance operational efficiency, while mobile accessibility and cloud-based solutions ensure financial transparency. In-transit management, repair and maintenance, infrastructure management, and strategic management are optimized through interconnected IT infrastructure.
Moreover, business intelligence tools provide valuable insights, extending asset lifespan and enabling optimum utilization. Asset management solutions offer remote access, interoperability, and data exchange, making e-commerce and support services more effective. The market is focused on improving operational efficiency, ensuring financial transparency, and maximizing return on investment (RoI) for digital assets. Thus, such trends will shape the growth of the market during the forecast period.
The transaction risks in asset management is the major challenge that affects the growth of the market. In the Asset Management Market, customer-centric relationships are paramount for asset-intensive organizations. Advanced technologies, such as Artificial Intelligence (AI) and Augmented Reality (AR), are revolutionizing asset management solutions. IoT integration enables streamlined operations, ensuring Return on Investment (RoI) through real-time monitoring of digital assets. Geographical Information Systems (GIS), inventory management, and image-based barcode scanners facilitate location tracking and repair and maintenance scheduling. Mobile accessibility and cloud-based solutions offer flexibility, while Real-Time Location Systems (RTLS) ensure financial transparency.
Infrastructure management and strategic asset management require operational efficiency, remote access, interoperability, and data exchange. E-commerce platforms and support services optimize asset lifespan, and business intelligence tools enhance decision-making. Interconnected IT infrastructure and asset management solutions minimize transaction risks in global businesses, mitigating the impact of currency fluctuations and ensuring optimum utilization. Hence, the above factors will impede the growth of the market during the market forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Credit Agricole SA - The company offers asset management under the brand, CPR AM. They offer services such as retail banking, corporate banking, investment banking, private banking, wealth management, and asset management.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The asset management market is witnessing significant growth due to the increasing adoption of customer-centric relationships in asset-intensive organizations. The integration of advanced technologies such as artificial intelligence (AI), blockchain, and augmented reality (AR) into asset management solutions is streamlining operations and enhancing operational efficiency. The Internet of Things (IoT) is enabling ETF, real-time location systems (RTLS) and inventory management, providing financial transparency and optimizing asset utilization. Geographical Information Systems (GIS) and image-based barcode scanners are enhancing mobile accessibility and cloud-based solutions. In-transit management, repair and maintenance, infrastructure management, and strategic management are key areas of focus for asset management solutions. Digital assets are gaining importance, and businesses are investing in asset management solutions to ensure optimum utilization and interoperability. The asset management market is also witnessing the adoption of data exchange, e-commerce, support services, and business intelligence to enhance asset lifespan and ROI. The interconnected IT infrastructure is facilitating remote access and real-time monitoring, enabling organizations to make informed decisions and improve asset management.
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Market Scope |
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Report Coverage |
Details |
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Page number |
149 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 29.3% |
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Market growth 2024-2028 |
USD 67,172.2 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
21.8 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
ABB Ltd., Allianz SE, Aviva insurance Ltd., BlackRock Inc., Brookfield Business Partners LP, Canadian Imperial Bank Of Commerce, CI Global Asset Management, Credit Agricole SA, FMR LLC, JPMorgan Chase and Co., Manulife Financial Corp., Power Corp. of Canada, Royal Bank of Canada, Sun Life Financial Inc., The Bank of New York Mellon Corp., The Bank of Nova Scotia, The Capital Group Companies Inc., The Charles Schwab Corp., The Toronto Dominion Bank, and The Vanguard Group Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Source
8 Market Segmentation by Class Type
9 Customer Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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