Global Asset Management Market to Surpass USD 1600 Billion by 2029, Driven by Technological Advancements and Diverse Industry Demand

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Dublin, May 02, 2024 (GLOBE NEWSWIRE) — The “Global Asset Management Market Outlook, 2029” report has been added to ResearchAndMarkets.com’s offering.

The global asset management market is projected to experience significant growth, reaching a valuation of over USD 1600 Billion by the year 2029, with a compound annual growth rate of 29.80% during the forecast period of 2024-2029. This expansion is primarily fueled by the integration of advanced technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), and machine learning, along with an increasing emphasis on data analytics and proactive maintenance strategies.

North America has been identified as the leading region in the asset management market, attributed to its sophisticated financial markets, technological advancements, and the presence of a spectrum of industries requiring advanced asset management solutions. The region’s commitment to adopting fintech innovations and continuously evolving practices supports the advancement of asset management services.

Strategic Asset Management Pivotal in Addressing Market Drivers and Challenges

As globalization intensifies and cost pressures increase, strategic asset management becomes critical for firms to navigate international investment landscapes and optimize operational efficiency. Asset management firms face challenges associated with technological risks, such as cybersecurity threats and shifting distribution channels. To overcome these hurdles, companies are employing cutting-edge solutions and adopting strategies like mergers & acquisitions and strategic partnerships.

Impact of COVID-19 and Future Market Trends

The COVID-19 pandemic highlighted the significant role of asset management in enhancing preparedness and ensuring continuity in various sectors. Trends in alternative investments, data privacy, and ethics are shaping the future of asset management, with firms striving to adhere to high standards while responding to evolving investor demands.

Industry Leaders Adopt Innovative Technologies

Key industry players are continuously enhancing their offerings by incorporating emerging technologies and engaging in growth strategies to strengthen market presence. Notable advancements include collaborations to expand upon existing software solutions for improved system engineering and asset management.

These endeavours reflect the market’s direction towards a more interconnected and efficient future in asset management. The global asset management industry’s trajectory is marked by a transformative impact and strategic innovation, ultimately driving businesses toward sustainable growth and operational excellence in a complex and dynamic economic environment.

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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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