The latest report by IMARC Group, titled "Middle Office Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global middle office outsourcing market size reached US$ 7.2 Billion in 2022. Middle office outsourcing is the process of hiring a third-party provider to handle post-trade and pre-settlement operations for financial services companies, investment banks, or hedge funds. It assists in saving money on non-core functions, improving customer satisfaction and services, reducing overhead costs, enhancing operational efficiency, and gaining a competitive advantage. In addition, outsourcing middle office tasks like reconciliation, reporting, billing, portfolio accounting, and staff augmentation prevent workflow disruptions and incorrect reporting. Owing to these benefits, middle office outsourcing is widely utilized by various financial organizations across the globe.
Global Middle Office Outsourcing Market Trends:
The market is primarily driven by the increasing operational complexities and the consequent need for infrastructure upgradation in the finances of numerous end-use industries. In addition, the implementation of stringent rules by regulatory authorities related to transparency in financial organizations represents another major growth-inducing factor. Besides this, various organizations are integrating machine learning (ML), artificial intelligence (AI), and the internet of things (IoT) technologies to ensure report accuracy by automating data consumption and detecting error and compliance violations. This, coupled with the rising adoption of blockchain solutions on a trial basis, such as collateral management and reconciliation by outsourcing service providers, is positively influencing the market growth. Moreover, the increasing number of small and medium-scale financial institutions and the rising need to manage in-house operations are also creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 12.2 Billion by 2028, exhibiting a CAGR of 9.0% during the forecast period (2023-2028).
- On the basis of the offering, the market has been segmented into portfolio management, trade management, and others. Amongst these, portfolio management represents the largest market share.
- Based on the deployment model, the market has been classified into cloud-based and on-premises. Presently, on-premises exhibit a clear dominance in the market.
- On the basis of the end user, the market has been segregated into investment banking and management, broker-dealers, stock exchanges, and others. At present, investment banking and management account for the majority of the global market share.
- Region-wise, North America (the United States and Canada) holds the leading position in the market. Other major regions include Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Russia, Spain, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Accenture Plc, Adepa Global Services S.A., Apex Group Ltd., Caceis, Empaxis Data Management Inc., Indus Valley Partners, JPMorgan Chase & Co., Linedata, Northern Trust Corporation, Royal Bank of Canada, Societe Generale Securities Services, SS&C Technologies Inc., State Street Corporation, and The Bank of New York Mellon Corporation.
|Base Year of the Analysis
| Offering Covered
||Portfolio Management, Trade Management, Others
|Deployment Model Covered
|End User Covered
||Investment Banking and Management, Broker-Dealers, Stock Exchanges, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Accenture Plc, Adepa Global Services S.A., Apex Group Ltd., Caceis, Empaxis Data Management Inc., Indus Valley Partners., JPMorgan Chase & Co., Linedata, Northern Trust Corporation, Royal Bank of Canada, Societe Generale Securities Services, SS&C Technologies Inc., State Street Corporation, The Bank of New York Mellon Corporation, etc.
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