DUBLIN--(BUSINESS WIRE)--The "Wealth Management Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global wealth management market is expected to grow from $1,517.0 billion in 2021 to $1,732.55 billion in 2022 at a compound annual growth rate (CAGR) of 14.2%. The market is expected to grow to $2,801.45 billion in 2026 at a compound annual growth rate (CAGR) of 12.8%.
Major companies in the market include Industrial and Commercial Bank of China, Legal & General Group plc, CNP Assurances, UBS, Japan, Post Group, BlackRock, JPMorgan Chase & Co., Morgan Stanley, Citi Group, and Manulife Financial Corporation.
North America was the largest region in the wealth management market in 2021. Western Europe was the second largest region in the wealth management market. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Many wealth management firms are increasing spending on their cybersecurity solutions to prevent cyber-attacks risk. Cybersecurity refers to the set of techniques used to protect the network integrity and data from unauthorized access. It enables the strengthening of security levels of the firms and prevents the loss of highly sensitive client information. They are gaining prominence as they aid financial services companies including wealth management firms in identifying theft and fraud investment transactions. For Instance, according to a recent survey, 86% of financial services companies are planning to spend more time and resources on cybersecurity in the coming year.
Many wealth management companies are investing in big data analytics capabilities to generate insights to enhance and refine service offerings and thus increase revenues. Big data solutions are being implemented to deliver insights around client segments, product penetration, and analyze training program effectiveness. These technologies are being implemented to assess existing and prospective clients' inclination to purchase various products and services being offered by a wealth management company, their lifetime value, investment pattern, and the ability of the client to take risks.
They are also aiding wealth management companies to track business performance, increase client acquisition and retention rates, increase sales and offer real-time investment advice. For instance, CargoMetrics, an investment firm based in Boston used Automatic Identification System (AIS), to collect data on commodity movement such as cargo location and cargo size to develop an analytics platform for trading commodities, currencies, and equity index funds. This tool was also sold to other hedge funds and wealth managers
Report Scope
This report provides strategists, marketers and senior management with the critical information they need to assess the global wealth management market as it emerges from the COVID-19 shut down.
Where is the largest and fastest growing market for the wealth management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider wealth management market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery
- Market segmentations break down market into sub markets
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers
- The wealth management market section of the report gives context. It compares the wealth management market with other segments of the investments market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, wealth management indicators comparison
Companies Mentioned
- Industrial and Commercial Bank of China
- Legal & General Group plc
- CNP Assurances
- UBS
- Japan Post Group
- BlackRock
- JPMorgan Chase & Co.
- Morgan Stanley
- Citi Group
- Manulife Financial Corporation
For more information about this report visit https://www.researchandmarkets.com/r/u02rva
