North America Asset Management Market Outlook, 2029

North America Asset Management Market Outlook, 2029

North America is a global financial powerhouse, with the asset management business playing an important role in the country's economy. This region, which includes the United States, Canada, and Mexico, has a dynamic and diversified ecosystem of asset management companies, investors, and regulatory frameworks. North America's asset management business is comprised of a diverse network of financial organizations, including traditional asset managers, hedge funds, private equity firms, and pension funds. The United States, as the region's largest economy, dominates this terrain with some of the world's most notable asset management organizations. North America's asset management landscape is continually changing due to technological developments, legislative changes, and shifting investor preferences. One prominent trend is the increasing popularity of passive investing, exemplified by the rise of exchange-traded funds (ETFs). These low-cost investment vehicles, which track various market indices, have gained traction among retail and institutional investors alike, challenging the traditional active management approach. Furthermore, technological innovations in artificial intelligence, machine learning, and big data analytics are transforming investment procedures. Firms are embracing these technologies to improve risk management, optimize portfolio construction, and customize client experiences, allowing them to remain competitive in an increasingly digitalized market. Mexico's asset management business is expanding steadily, fueled by economic changes and rising investor interest. With a growing middle class and a developing financial services sector, Mexico offers exciting potential for asset managers to participate in the country's changing investment landscape. North America is still at the forefront of technological innovation in asset management, harnessing advances in artificial intelligence, machine learning, and data analytics to improve investment decision-making processes. Firms are implementing novel technology to improve portfolio management, risk assessment, and client engagement, thereby increasing market efficiency and competitiveness.

According to the research report ""North America Asset Management Market Outlook, 2029,"" published by Bonafide Research, the North America Asset Management market was valued more than USD 130 Billion in 2023. The regulatory environment in North America has a significant impact on the asset management industry, with regulatory bodies such as the Securities and Exchange Commission (SEC) in the United States and the Ontario Securities Commission (OSC) in Canada monitoring market integrity and investor protection. Compliance with regulatory standards is an important factor for asset managers operating in the region. North America is a hotspot for alternative investments, including private equity, venture capital, real estate, and infrastructure. Asset managers are progressively diversifying their portfolios by allocating capital to alternative asset classes in order to achieve higher returns and portfolio diversity in a volatile market environment. North America has various innovation hubs and financial centers, such as New York City, Toronto, and San Francisco that stimulate collaboration, creativity, and entrepreneurship in the asset management industry. These hubs serve as incubators for new ideas, technologies, and investment strategies, attracting talent and capital from around the world. The growth of financial technology (fintech) businesses in North America is challenging the traditional asset management environment by providing novel solutions for investment management, robo-advisory services, and peer-to-peer lending. Fintech businesses are challenging established players by offering low-cost alternatives and democratizing access to financial services for regular investors. North America is a popular market for real estate investment trusts (REITs), which allow investors to acquire exposure to real estate assets without actually owning the properties. REITs provide diversification, income creation, and possible capital appreciation, making them appealing investment vehicles for institutional and individual investors looking for exposure to the real estate sector.

Major Drivers

Technological innovation: Rapid technological improvements are driving the change in the North American asset management market. Firms are using artificial intelligence, machine learning, and big data analytics to improve investment decisions, increase operational efficiency, and provide tailored client experiences. From algorithmic trading to robo-advisory services, technology is transforming the industrial landscape, allowing asset managers to remain competitive in an increasingly digitalized economy. Embracing modern technologies helps not only risk management and portfolio performance but also scalability and agility, allowing businesses to respond to changing market conditions and investor preferences.

Regulatory environment: The regulatory environment has a significant impact on the North American asset management sector by impacting investor trust, market transparency, and operational standards. Regulatory bodies, such as the Securities and Exchange Commission (SEC) in the United States and the Investment Industry Regulatory Organization of Canada (IIROC) in Canada, monitor compliance with asset management rules and regulations, such as registration, disclosure, and investor protection. Changes in regulatory requirements, such as the installation of new reporting standards or stronger compliance procedures, can have an impact on a company's operations, costs, and competitiveness.

Major Challenges

Cybersecurity threats: Given the increased reliance on digital platforms and data-driven technology, North American asset managers are becoming increasingly concerned about cybersecurity threats. Cyber-attacks, data breaches, and information security flaws can compromise client confidentiality, disrupt business operations, and harm reputations. Asset managers must prioritize cybersecurity measures, develop strong data protection standards, and invest in cybersecurity infrastructure to successfully protect sensitive information and prevent cyber threats.

Changing investor preferences: North American asset managers face problems due to shifting investor preferences and demography. As millennials and Generation Z investors seek socially responsible and sustainable investing opportunities, asset managers must adjust their investment strategies and product offerings to suit changing investor demands. In order to attract and keep customers in a continuously changing investor landscape, asset managers must cater to different investor preferences, include environmental, social, and governance (ESG) issues into investment processes, and create openness and confidence.

Based on component segment market includes solution and services. Solution component segment is expected to lead the North America asset management market.

Solution components often include a wide range of functionalities and features that handle various elements of asset management, such as asset tracking, maintenance scheduling, inventory management, and financial tracking. This holistic approach appeals to firms looking for integrated solutions to efficiently streamline their asset management procedures. Solution components allow you to design and grow asset management systems to meet the unique demands and requirements of each business. This adaptability enables businesses to tailor their asset management solutions to various asset types, industry verticals, and organizational structures, ultimately increasing efficiency and productivity. Solution components often include a wide range of functionalities and features that handle various elements of asset management, such as asset tracking, maintenance scheduling, inventory management, and financial tracking. This holistic approach appeals to firms looking for integrated solutions to efficiently streamline their asset management procedures. Solution components allow you to design and grow asset management systems to meet the unique demands and requirements of each business. This adaptability enables businesses to tailor their asset management solutions to various asset types, industry verticals, and organizational structures, ultimately increasing efficiency and productivity. The growing digitalization and automation of business operations is generating demand for advanced asset management systems in North America. As organizations across industries grasp the strategic relevance of effective asset management in achieving operational excellence and competitive advantage, the adoption of solution components is projected to accelerate even further.

Based on asset type segment market includes digital assets, returnable transport assets, and In-transit assets, manufacturing assets and personnel / staff. Among them digital asset type is expected to lead the North America asset management market. Based on application segment market includes infrastructure asset management, enterprise asset management, healthcare asset management, aviation asset management and others. Among them aviation asset management application is expected to lead the North America asset management market.

The fast digitization of enterprises across all industries is increasing the amount and complexities of digital assets are increasing quickly. Intangible assets include software, intellectual property, digital media, data, and online content. As businesses rely more on digital assets to fuel innovation, operations, and customer interaction, effective management and optimization of these assets become critical. The explosion of digital content generation, distribution, and consumption has resulted in an increase in the quantity and variety of digital assets. Businesses are bombarded with digital assets, ranging from multimedia files and social media content to software applications and online publications, all of which require effective management, access, and utilization. Digital asset management (DAM) solutions meet this rising demand by delivering centralized repositories, metadata tagging, version control, and collaboration features to streamline the management of digital content. North America has one of the world's largest and most sophisticated aviation businesses, with significant investments in airports, airlines, aircraft manufacture, and supporting infrastructure. Managing the varied spectrum of assets in the aviation sector, including aircraft, engines, components, facilities, and ground support equipment, necessitates sophisticated asset management solutions capable of meeting complex operational and regulatory requirements. Aviation asset management is subject to severe safety regulations, airworthiness standards, and maintenance requirements imposed by regulatory authorities such as the Federal Aviation Administration (FAA) in the United States and Transport Canada in Canada. Compliance with these standards is crucial for the safety of passengers, crew, and aircraft operations. Aviation asset management solutions play an important role in simplifying compliance by providing features such as maintenance tracking, regulatory reporting, audit trails, and documentation management.

Based on report market includes three major countries including United States, Canada and Mexico. Among them United States is expected to lead the North America asset management market.

The United States has the world's largest economy, with deep and liquid capital markets. Its economic strength, strong financial infrastructure, and diversified investment choices make it an appealing location for asset managers looking for development and prospects. New York City, also known as the world's financial capital, is home to Wall Street and a concentration of large financial institutions, investment banks, and asset management organizations. The city's reputation as a global financial hub attracts talent, capital, and investment opportunities, reinforcing the United States leadership in the asset management sector. The United States is home to a wide network of institutional investors, including pension funds, endowments, and sovereign wealth funds, who provide significant resources to asset managers for investing. These institutional investors seek experienced and reputable asset managers to manage their portfolios, driving demand for asset management services in the United States. Asset management firms headquartered in the United States have a strong global presence and influence, managing assets for clients all over the world. Their experience, track record, and scale allow them to compete effectively in international markets, garnering funds from investors looking for exposure to US markets and guidance in navigating global investment environments. The US has a flourishing entrepreneurial culture that encourages innovation, creativity, and risk-taking. Asset management firms in the United States foster an entrepreneurial culture, fostering innovation, experimentation, and collaboration to uncover new investment possibilities, develop proprietary methods, and differentiate themselves in the market.

The major companies operating in the global industry are expanding the capabilities of their solutions by integrating various emerging technologies, such as machine learning, AI, and others. Also, the companies are adopting various growth strategies, including new product launches, strategic partnerships & collaborations, and mergers & acquisitions, to strengthen their product portfolios. The vendors operating in the global industry are adopting various organic and inorganic growth strategies, including new product launches, strategic partnerships & collaborations, and mergers & acquisitions, to strengthen their portfolios. For instance, in July 2021, SATO Holdings Corp. signed a contract with Wiliot Ltd., a provider of the IoT sensing label “Wiliot IoT Pixel” to introduce IoT in the retail field. With a three-year contract, the collaboration is a strategic partnership to establish retail market leadership. In April 2021, Zebra Technologies Corp. announced the new partner connect with Alliance Track, recognizing expertise and influence while allowing greater collaborative efforts with parallel, quasi-partners. Vendors are also expanding the capabilities of their solutions by integrating various emerging technologies, such as machine learning, AI, and others. These solutions are also evolving in line with the growing R&D investments in developing cloud-based predictive analytical solutions. Advances in technology and evolving digital solutions are equally paving the way for implementing asset management solutions across the globe.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Asset Management market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Component
• Solution
• Services

By Solution
• Real-Time Location System (RTLS)
• Barcode
• Mobile Computer
• Labels
• Global Positioning System (GPS)
• Others

By Services
• Strategic Asset Management
• Operational Asset Management
• Tactical Asset Management

By Asset type
• Digital Assets
• Returnable Transport Assets
• In-transit Assets
• Manufacturing Assets
• Personnel/ Staff

By Application
• Infrastructure Asset Management
• Enterprise Asset Management
• Healthcare Asset Management
• Aviation Asset Management
• Others

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Asset Management industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.