Emergence Of Big Data Analytics in Asset Management Market Trends
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Emergence Of Big Data Analytics in Asset Management Market Trends

By CIOReview | Saturday, December 11, 2021

The global asset management market is expected to recover from the COVID-19 crisis by analysis its key market driving factors. One key factor that they plan to emphasize on is to invest in big data analytics capabilities.

FREMONT, CA:To generate insights around clients, many asset management companies are investing in big data analytics capabilities. To deliver insights around client segments, product penetration, and analyze training programs, big data solutions are being implemented. Furthermore, asset management companies are increasingly providing and integrating climate change expertise in their investment process. Buildings, offshore structures, and transportation systems, and other physical assets are operated in a dynamic environment they are exposed to short, medium, and long-term variability in ambient environmental conditions. Therefore, in determining the durability of these assets, climate change acts as an important variable.

From 598.9 billion dollars in 2020, the global asset management market is expected to recover from the COVID-19 crisis and reach 788.8 billion dollars in 2023 at a compound annual growth rate of 9.6 percent. JP Morgan Stanley, Morgan Chase & Co., Bank of America Corporation, Wells Fargo & Company, and The Goldman Sachs Group, Inc. are the major players covered in the global asset management industry. By 2023, global annual sales will reach 73.6 billion dollars for top opportunities in the asset market segmented by type that will arise in the fixed income market segment. Further, top opportunities in the asset management market segmented by service elements will arise in the asset servicing segment will reach 117.1 billion dollars of global annual sales by 2023. In the USA, the asset management market size will reach the most at 45.0 billion dollars.