Published: Dec, 2017

The U.S. asset management IT solutions market is highly competitive due to the presence of several leading players in the market, observes a new report by Transparency Market Research. Due to the low initial capital required a large number of companies are foraying into the market further heating up competition in the market. Low product differentiation is also serving to heat up competition among market players.

Hewlett Packard Enterprise Development LP, FundCount, QED Financial System, ProTrak International, Broadridge Investment Management Solutions, SoftTarget Inc., SimCorp Inc., eFront Financial Solutions, SunGard Finacials, and CreditPoint Software are to name some of the key names in U.S. asset management IT solution market. Key companies are mostly leveraging acquisitions and partnerships in order to garner a greater market share.

The TMR report predicts the U.S. asset management IT solutions market to rise at a CAGR of 5.1% for the forecast period between 2016 and 2024. Progressing at this rate, the market will become worth US$1,298.2 mn by 2024 from US$828.5 mn in 2015. Based on deployment model, on-premise software solutions lead amongst other segments; the segment held 43.6% market share in 2016.  In terms of geography, the northeastern region is likely to lead among other regions in the U.S. asset management IT solution market.

us asset management it solution marketProliferation of Exchange Traded Funds Drives Market

Majorly fuelling the asset management IT solution market in the U.S. is the proliferation of exchange traded funds (ETFs) in the country. ETFs gain preference due to their tax efficiency and high returns. This has upped the demand for asset management IT solutions that can help keep a record of price fluctuations and also provide support to asset manager to maximize returns on an asset.

The complicated financial regulations of the U.S. government is another key growth driver of the U.S. asset management IT solutions market. “The implementation of compliances, namely Dodd-Frank Act and Foreign Account Tax Compliance Act have resulted in additional reporting requirements from asset managers, which is further bolstering the IT asset management IT solutions market in the U.S.

Further, the rising need for IT solutions for managing equity, real estate, fixed income, commodities, and international investments is another significant factor boosting the adoption of asset management IT solutions in the U.S. As per statistics Department of Commerce in the U.S., in 2015, U.S. asset managers held assets worth more than US$51 trillion of long-term conventional assets, which was slightly over 47% of global funds in the same year.

Risk of Loss of Critical Data Challenges Adoption

On the contrary, proving to be a roadblock to the growth of U.S. asset management IT solutions market is concerns over data security. This is because asset management companies store important finance data of large finance institutions and high net-worth individuals, and with digitization of the banking sector and deployment of cloud-based computing, data vulnerability has increased manifold. Rise in cybercrimes is thus limiting the adoption of asset management IT solutions.

The review presented here is based on the findings of a Transparency Market Research, report “Asset Management IT Solution Market (Component - Application (Portfolio Management, Compliance, Risk Management, Client Statements & Reporting, Trade Order Management, Workflow Automation, Benchmarking, and Cash Flow & Accounting) and Service (Enterprise Data Management, Data Integration, Reporting Solutions & Services, Operation Support & Monitoring, Application Development & Maintenance, and Resource Management); Deployment Model - Cloud-based, On-premise, and Hybrid) - U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.

The U.S. asset management IT solutions market is segmented as follows:

U.S. Asset Management IT Solution Market, by Component

  • Application
    • Portfolio Management
    • Compliance
    • Risk Management
    • Client Statements & Reporting
    • Trade Order Management
    • Workflow Automation
    • Benchmarking
    • Cash Flow & Accounting
  • Service
    • Enterprise Data Management
    • Data Integration
    • Reporting Solutions & Services
    • Operation Support & Monitoring
    • Application Development and Maintenance
    • Resource Management

U.S. Asset Management IT Solution Market, by Deployment Model

  • On-premise
  • Cloud-based
  • Hybrid

U.S. Asset Management IT Solution Market, by Geography

  • Northeast
  • Midwest
  • West
  • South

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