Custody Service Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Custody services typically include the settlement, safekeeping, and reporting of marketable securities and cash held by customers. By lending securities to approved borrowers on a short-term basis, a customer can earn additional income on custody assets.

Sizing and Forecast
The custody service market size has grown strongly in recent years. It will grow from $41.57 billion in 2023 to $45.39 billion in 2024 at a compound annual growth rate (CAGR) of 9.2%.  The  growth in the historic period can be attributed to globalization of financial markets, rise of institutional investors, regulatory compliance and risk management, increasing complexity of financial instruments, focus on investor protection.

The custody service market size is expected to see strong growth in the next few years. It will grow to $63.06 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.  The growth in the forecast period can be attributed to alternative investments and diverse asset classes, global regulatory changes and compliance, evolving risk management practices, integration of environmental, social, and governance (esg) factors, shifts in investor preferences and industry trends. Major trends in the forecast period include tokenization of traditional assets, cross-border custody solutions, insurance coverage expansion, integration with defi ecosystem, scalability and automation.

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Segmentation & Regional Insights
The custody service market covered in this report is segmented –
1) By Service: Core custody services, Ancillary services, Core depository services, Other Administrative Services
2) By Type: Equity, Fixed Income, Alternative Asstes, Other Types

North America was the largest region in the custody service market in 2023. Western Europe was the second largest market in the custody service market report. The regions covered in the custody service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Automation and standardization are key factors driving the growth of the custody service market. The custody services industry is focusing on using technology to improve efficiency. The automation and standardization of core custody services and operations result in higher visibility, enhanced productivity due to operational efficiency, and cost reductions for customers, they improve quality of service and allow the custodian to react quickly to future needs. Due to the automation and standardization of custody services in the forecast period, 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 growth of the custody service market.

Key Industry Players
Major companies operating in the custody service market report are JPMorgan Chase & Co., HSBC Holdings plc, Citigroup Inc., Wells Fargo & Company, BNP Paribas, UBS AG, State Bank of India, Groupe Caisse d'Épargne, Deutsche Bank AG, HDFC Bank Ltd., ICICI Bank Ltd., The Bank of New York Mellon Corporation, DBS Bank Ltd., Commerzbank AG, State Street Bank and Trust Company, Northern Trust Corporation, Hang Seng Bank Limited, Kotak Mahindra Bank Limited, Standard Chartered plc, Yes Bank Ltd., Societe Generale Securities Services GmbH, Stock Holding Corporation of India Ltd., Julius Baer Group AG, Brown Shipley & Co. Limited, RBC Investor & Treasury Services, Edelweiss Custodial Services Ltd., Orbis Financial Corporation Ltd., Axis Bank Ltd., Brown Brothers Harriman & Co., Infrastructure Leasing & Financial Services Ltd.

The custody service market report table of contents includes:
1. Executive Summary
2. Custody Service Market Characteristics
3. Custody Service Market Trends And Strategies
4. Custody Service Market - Macro Economic Scenario
5. Global Custody Service Market Size and Growth
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32. Global Custody Service Market Competitive Benchmarking
33. Global Custody Service Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Custody Service Market
35. Custody Service Market Future Outlook and Potential Analysis
36. Appendix