LONDON--(BUSINESS WIRE)--The middle office outsourcing market is expected to grow by USD 1.92 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Financial institutions are increasingly leveraging technological innovations to overcome the complexities in their operations and increase their customer base. Most of the financial institutions have traditional IT infrastructure, which poses a major challenge while implementing new applications. Thus, vendors in the middle office outsourcing market are investing significantly in the development of outsourcing platforms to help financial institutions address this challenge. The middle office outsourcing service providers allow financial institutions to leverage new technologies such as cloud solutions and robotic process automation (RPA). Thus, the need for new technologies and budget constraints are expected to stimulate the middle office outsourcing market growth during the forecast period.
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As per Technavio, the rise of automation and cloud solutions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Middle Office Outsourcing Market : Rise of Automation and Cloud Solutions
The optimization of middle office operations is crucial for financial institutions to overcome issues of workflow disruption and wrong reporting. Automation has emerged as a key trend in the market, which promises to enable elimination of unnecessary processes, provide valuable insights, cut down costs, and reduce operational risks. Furthermore, cloud-based solutions such as the SaaS middle office model are being adopted to cut down on deployment and operational costs. Thus, the advent of cloud solutions and increasing automation will drive the growth of the middle office outsourcing market value during the forecast period.
“Factors such as growing security concerns, increased processing complexities in the middle office, and the growing necessity for regulatory compliances will have a positive impact on the growth of the middle office outsourcing market value during the forecast period,” says a senior analyst at Technavio.
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Middle Office Outsourcing Market: Segmentation Analysis
This market research report segments the middle office outsourcing market by end-user (investment banking and management, broker-dealers, stock exchange and others), and geography (North America, APAC, Europe, South America and MEA).
The North American region led the middle office outsourcing market in 2019, followed by Europe, APAC, MEA and South America. During the forecast period, the North American region is expected to register the highest incremental growth due to the booming financial services sector and technological innovations.
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Some of the key topics covered in the report include:
- Investment banking and management
- Stock exchange
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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