Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Thursday, August 6, 2020 · 523,423,684 Articles · 3+ Million Readers

Despite Initial Decline Due To COVID-19, Automation And Standardization Will Drive The Global Custody Services Market

Custody Services Market Report

Custody Services Market Global Report 2020-30: COVID-19 Growth And Change

The Business Research Company’s Custody Services Market Global Report 2020-30: COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, July 7, 2020 /EINPresswire.com/ -- The global custody services market size is expected to decline from $66.1 billion in 2019 to $64.27 billion in 2020 at a compound annual growth rate (CAGR) of -2.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $80.96 billion in 2023 at a CAGR of 8%.

Automation and standardization is a key factor driving the growth of the custody services market. The custody services industry is focusing on using technology to improve efficiency. The automation and standardization of core custody services and operations results in higher visibility, enhanced productivity due to operational efficiency, cost reductions for customers, improvement in quality of service, and also allows the custodian to react quickly to future needs. Due to the automation and standardization of custody services, in the coming years, the asset-centric model is expected to be augmented by a more data-centric, open platform method, where the custodian will have access to a variety of available services. For instance, an automated reporting system provides daily reports of exceptions, securities available for loan, securities on loan, valuation of cash collateral, daily mark-to-market information, and margin calls. Therefore, such automation and standardization features are expected to drive the custody services market growth.

The global custody services market is segmented by service into core custody services, ancillary services, core depository services, and other administrative services.

The increasing competition is a key factor hampering the growth of the custody services market. The market for custody services is highly competitive with numerous banks that provide custody services in addition to other banking services, on a global, regional, or local scale. The price competition, especially, is causing enormous pressure on the banks in the global market. Many custodians find it challenging to keep up with high volumes and offer competitive prices. Traditional players in securities services such as multinational custodians, local custodians, and specialists in fund management are experiencing increasing competition from Central Securities Depositories (CSD), Central Counterparty Clearing Houses (CCP), and outsourced service providers. Fund services professionals are increasing competitiveness by considerably building new and aimed offers. Therefore, increasing competition from various areas is expected to hinder the growth of the custody services market.

Major players in the custody services market include Bank of New York Mellon, Citigroup, JP Morgan Chase, State Street Bank and Trust, BNP Paribas, Northern Trust Corporation, HSBC, Societe Generale Securities Services, Brown Brothers Harriman & Co., and Caisse d`Epargne Investor Services.

Here Is A List Of Similar Reports By The Business Research Company:

Asset Management Market By Type Of Asset Class (Equity, Fixed Income, Alternative Assets And Others), By Type Service Element (Asset Services, Custody Services), By Type Client (Mass Affluent, HNWI, Pension Funds, Insurance Companies, Sovereign Wealth Funds (SWF)), And Regions - Global Forecast To 2023 (https://www.thebusinessresearchcompany.com/report/asset-management-market)

Wealth Management Market By Type Of Asset Class (Equity, Fixed Incomes, Alternative Assets And Others) Major Players And Market Size – Global Forecast To 2030 (https://www.thebusinessresearchcompany.com/report/wealth-management-market)

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World’s Most Comprehensive Database

The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release