This report describes and explains the custody services market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global custody services market reached a value of nearly $41.13 billion in 2023, having grown at a compound annual growth rate (CAGR) of 7.5% since 2018. The market is expected to grow from $41.13 billion in 2023 to $63.63 billion in 2028 at a rate of 9.1%. The market is then expected to grow at a CAGR of 9.5% from 2028 and reach $100.09 billion in 2033.
Growth in the historic period resulted from the increase in automation and standardization, increase in income and personal savings, rise in government support, expansion of global trade and strong economic growth in emerging markets. Factors that negatively affected growth in the historic period include rising cyber risks and stringent regulations.
Going forward, the increase in crypto currencies, increasing wealth of high-net-worth individuals, rising demand for alternative investments, rising urbanization and increase in institutional investments will drive the market. Factors that could hinder the growth of the custody services market in the future include risk of loss through custodian error or poor performance.
The custody services market is segmented by services into core custody services, ancillary services, core depository services and other administrative services. The core custody services market was the largest segment of the custody services market segmented by services, accounting for 42.9% or $17.65 billion of the total in 2023. Going forward, the core depository services segment is expected to be the fastest growing segment in the custody services market segmented by services, at a CAGR of 9.2% during 2023-2028.
The custody services market is segmented by type into private equity, fixed income and alternative assets and others. The fixed income market was the largest segment of the custody services market segmented by type, accounting for 67.5% or $27.77 billion of the total in 2023. Going forward, the fixed income segment is expected to be the fastest growing segment in the custody services market segmented by type, at a CAGR of 9.3% during 2023-2028.
North America was the largest region in the custody services market, accounting for 50.4% or $20.74 billion of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the custody services market will be Western Europe and Asia-Pacific, where growth will be at CAGRs of 11.4% and 9.5% respectively. These will be followed by North America and Eastern Europe, where the markets are expected to grow at CAGRs of 8.3% and 8.2% respectively.
The global custody services market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 46.84% of the total market in 2023. State Street Corporation was the largest competitor with an 8.38% share of the market, followed by Bank of New York Mellon Corporation with 8.07%, JPMorgan Chase & Co. with 5.34%, Royal Bank of Canada with 5.09%, Citigroup Inc. with 4.55%, BNP Paribas with 4.44%, Northern Trust Corporation with 4.39%, UBS Group AG with 2.26%, Pictet Group with 2.22% and HSBC Holdings plc with 2.10%.
The top opportunities in the custody services market segmented by services will arise in the core custody services segment, which will gain $9.57 billion of global annual sales by 2028. The top opportunities in the custody services market segmented by type will arise in the fixed income segment, which will gain $15.51 billion of global annual sales by 2028. The custody services market size will gain the most in the USA at $7.96 billion.
Market-trend-based strategies for the custody services market include implementing robotic process automation (RPA) to automate operations and improve efficiency, strategic partnerships and collaborations among market players, use of blockchain to offer high transparency and security, product innovations with focus on new digital asset custody services and focus on enhancing connectivity and streamlining institutional access.
Player-adopted strategies in the custody services market include focus on enhancing and preserving portfolio values for clients through improving service offerings, strengthening business operations through technological advancements, enhancing and preserving portfolio values for clients through improving service offerings, expanding operational and business presence through strategic acquisitions and enhancing business capabilities through collaborations and partnerships.
To take advantage of the opportunities, the analyst recommends the custody services companies to focus on core depository services segment, focus on implementing robotic process automation, focus on product innovations in custody services, focus on enhancing connectivity and streamlining access, focus on fixed income segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, focus on thought leadership and educational content, continue to use B2B promotions and focus on high-net-worth individuals.
The global custody services market reached a value of nearly $41.13 billion in 2023, having grown at a compound annual growth rate (CAGR) of 7.5% since 2018. The market is expected to grow from $41.13 billion in 2023 to $63.63 billion in 2028 at a rate of 9.1%. The market is then expected to grow at a CAGR of 9.5% from 2028 and reach $100.09 billion in 2033.
Growth in the historic period resulted from the increase in automation and standardization, increase in income and personal savings, rise in government support, expansion of global trade and strong economic growth in emerging markets. Factors that negatively affected growth in the historic period include rising cyber risks and stringent regulations.
Going forward, the increase in crypto currencies, increasing wealth of high-net-worth individuals, rising demand for alternative investments, rising urbanization and increase in institutional investments will drive the market. Factors that could hinder the growth of the custody services market in the future include risk of loss through custodian error or poor performance.
The custody services market is segmented by services into core custody services, ancillary services, core depository services and other administrative services. The core custody services market was the largest segment of the custody services market segmented by services, accounting for 42.9% or $17.65 billion of the total in 2023. Going forward, the core depository services segment is expected to be the fastest growing segment in the custody services market segmented by services, at a CAGR of 9.2% during 2023-2028.
The custody services market is segmented by type into private equity, fixed income and alternative assets and others. The fixed income market was the largest segment of the custody services market segmented by type, accounting for 67.5% or $27.77 billion of the total in 2023. Going forward, the fixed income segment is expected to be the fastest growing segment in the custody services market segmented by type, at a CAGR of 9.3% during 2023-2028.
North America was the largest region in the custody services market, accounting for 50.4% or $20.74 billion of the total in 2023. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the custody services market will be Western Europe and Asia-Pacific, where growth will be at CAGRs of 11.4% and 9.5% respectively. These will be followed by North America and Eastern Europe, where the markets are expected to grow at CAGRs of 8.3% and 8.2% respectively.
The global custody services market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 46.84% of the total market in 2023. State Street Corporation was the largest competitor with an 8.38% share of the market, followed by Bank of New York Mellon Corporation with 8.07%, JPMorgan Chase & Co. with 5.34%, Royal Bank of Canada with 5.09%, Citigroup Inc. with 4.55%, BNP Paribas with 4.44%, Northern Trust Corporation with 4.39%, UBS Group AG with 2.26%, Pictet Group with 2.22% and HSBC Holdings plc with 2.10%.
The top opportunities in the custody services market segmented by services will arise in the core custody services segment, which will gain $9.57 billion of global annual sales by 2028. The top opportunities in the custody services market segmented by type will arise in the fixed income segment, which will gain $15.51 billion of global annual sales by 2028. The custody services market size will gain the most in the USA at $7.96 billion.
Market-trend-based strategies for the custody services market include implementing robotic process automation (RPA) to automate operations and improve efficiency, strategic partnerships and collaborations among market players, use of blockchain to offer high transparency and security, product innovations with focus on new digital asset custody services and focus on enhancing connectivity and streamlining institutional access.
Player-adopted strategies in the custody services market include focus on enhancing and preserving portfolio values for clients through improving service offerings, strengthening business operations through technological advancements, enhancing and preserving portfolio values for clients through improving service offerings, expanding operational and business presence through strategic acquisitions and enhancing business capabilities through collaborations and partnerships.
To take advantage of the opportunities, the analyst recommends the custody services companies to focus on core depository services segment, focus on implementing robotic process automation, focus on product innovations in custody services, focus on enhancing connectivity and streamlining access, focus on fixed income segment, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, focus on thought leadership and educational content, continue to use B2B promotions and focus on high-net-worth individuals.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Custody Services Market - Macro-Economic Scenario
9 Global Market Size and Growth
10 Global Custody Services Market Segmentation
11 Custody Services Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
20 Other Major and Innovative Companies
23 Key Mergers and Acquisitions
24 Opportunities and Strategies
25 Custody Services Market, Conclusions and Recommendations
26 Appendix
Executive Summary
Custody Services Global Market Opportunities And Strategies To 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global custody services market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for custody services? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The custody services market global 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 history and forecasts market growth by geography. It places the market within the context of the wider custody services market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by services and by type.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the custody services market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by services and by type in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for custody services providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Services: Core Custody Services; Ancillary Services; Core Depository Services; Other Administrative Services2) By Type: Private Equity; Fixed Income; Alternative Assets; Others
Key Companies Mentioned: State Street Corporation; Bank of New York Mellon Corporation; JPMorgan Chase & Co.; Royal Bank of Canada; Citigroup Inc.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; custody services indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- State Street Corporation
- Bank of New York Mellon Corporation
- JPMorgan Chase & Co.
- Royal Bank of Canada
- Citigroup Inc.
- BNP Paribas
- Northern Trust Corporation
- UBS Group AG
- Pictet Group
- HSBC Holdings plc
- OSL Digital Securities
- Liminal Custody Solutions
- ICICI Bank Limited
- Trust and Custody Services Bank, Ltd
- Crypto Garage, Inc
- Zodia Custody
- Citibank (China) Company Limited
- Stock Holding Corporation of India Ltd (SHCIL)
- Industrial and Commercial Bank of China (ICBC)
- Bank of China
- Standard Chartered
- Mitsubishi UFJ
- Sumitomo Mitsui Banking Co
- National Australia Bank
- Mainstream Group Holdings Limited
- Mizuho Bank, Ltd.
- HSBC Group
- HSBC Securities Services
- Dolfin
- Barclays
- RBC Investor & Treasury Services (RBC I&TS)
- CACEIS
- Societe Generale Securities Services (SGSS)
- Euroclear
- UBS AG
- Credit Suisse
- Skandinaviska Enskilda Banken AB
- Cecabank
- UniCredit
- Intesa Sanpaolo
- Deutsche Bank
- Commerzbank
- Landesbank Baden-Württemberg (LBBW)
- DZ Bank AG
- FNZ
- Kraken
- Archax Ltd
- Clearstream
- Citi Handlowy
- PJSC Sberbank
- Alpha Bank
- Sberbank of Russia
- VBT Group
- Infinitium
- ING Bank Śląski S.A.
- Bank Handlowy w Warszawie S.A.
- Gazprombank
- Rosbank
- the Saint Petersburg Stock Exchange (SPB Exchange)
- MKB Bank Zrt
- BNY Mellon
- J.P. Morgan
- Brown Brothers Harriman
- Wells Fargo
- Comerica Bank
- U.S. Bancorp
- Bank of America Merrill Lynch (BofA Securities)
- Schwab
- Fidelity
- Tetra Trust Company
- Prometheum
- Anchorage Digital
- Altruist
- FV Bank
- Goldman Sachs Group
- the Millennium Trust Company
- Caja de Valores S.A
- Banco Itaú Unibanco S.A.
- Monet Investimentos
- UBS Consenso
- Banco de Crédito del Perú
- BBVA Argentina (BBVA)
- Banco Bradesco S.A.
- Banco BICE
- Scotiabank
- Davivienda S.A.
- Garanti BBVA
- Emirates NBD Bank PJSC
- Changer.ae Ltd
- Riyad Capital
- Aljazira Capital
- KASB Capital
- Muscat Capital
- NOMW Capital
- Arqaam Capital
- Citi Group Inc.
- SICO Capital
- Ubhar Capital Saoc
- Qatar National Bank
- Efficient Group
- FSDH Merchant Bank Limited
- Access Bank Plc
- EFG Holding S.A.E.
- National Bank of Egypt
- Stanbic IBTC Holdings
- Zenith Bank Plc
- First Bank of Nigeria
- United Bank for Africa Plc
- Standard Bank Group Limited
- Nedbank
- Rand Merchant Bank
- Absa Group Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 275 |
| Published | September 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 41.1 Billion |
| Forecasted Market Value ( USD | $ 100.1 Billion |
| Compound Annual Growth Rate | 9.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 112 |
