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Increasing Wealth Of High Net Worth Individuals Will Drive The Global Custody Services Market

Custody Services Market - Opportunities And Strategies – Forecast To 2030

Custody Services Market - Opportunities And Strategies – Global Forecast To 2030

The Business Research Company’s Custody Services Market Report - Opportunities And Strategies – Global Forecast To 2030

LONDON, GREATER LONDON, UK, November 16, 2020 / -- The wealth of high net worth individuals is expected to increase, and this will contribute to the growth of the custody service market share going forward. The rich are expected to get richer in the forecast period. The assets held by high net worth individuals (HNWI) are expected to increase from $63.5 trillion in 2016 to over $100 trillion by 2025. The wealth held by HNWIs in Asia Pacific alone is expected to reach $42 trillion by 2025. Growth of wealth is expected to increase demand for several financial management services including custody services. Going forward, growth in the wealth of high net worth individuals will accelerate the market growth for custody services.

The global custody services market size reached a value of nearly $30.7 billion in 2019, having increased at a compound annual growth rate (CAGR) of 5.8% since 2015.

Companies in the global custodian services market are increasingly using block chain technology for better security and operational efficiency. Block chain is a technology which involves the implementation of a distributed database that is accessible to all the users over a network, where each user can add a new data record (block), with a timestamp that cannot be altered. The block chain technology maintains the authentication of data by restricting changes in the older data blocks while allowing the users to continue adding new data blocks, thus, providing high security and transparency to companies operating in the custody services market. As per the Pricewaterhousecoopers (PwC) report, by 2020, 77% of financial organizations including custody services plan to integrate block chain into their operations.

The global custody services market size is segmented by type into equity, fixed income, and alternative assets and others.

The custody services market share consists of sales of custody services by entities (organizations, sole traders and partnerships) that provide custody services or safekeeping services to clients. The companies in this industry typically settle trades, invest cash balances as directed, collect income, process corporate actions, price securities positions, and provide recordkeeping and reporting services. Companies in this industry are responsible for consolidation, processing, and monetization of large volumes of clients’ data. The companies in this industry hold clients’ property on their behalf, and are responsible for the safety of those financial products. The client remains the beneficial owner of the financial products, but the custody service providers hold the financial products on behalf of the clients.

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Oliver Guirdham
The Business Research Company
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