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U.S Asset Management IT Solutions Market

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U.S Asset Management IT Solutions Market:
Players Resort to Partnerships to Garner
Larger Market Share, notes TMR
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.
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16142
Proliferation 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.
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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.
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