The global middle office outsourcing market is expected to post a CAGR of more than 9% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global middle office outsourcing market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global middle office outsourcing market size is the need for new technologies and budget constraints. Financial institutions are increasingly leveraging technological innovations to overcome the complexities in their operations and increase their customer base. Most of the financial institutions have traditional IT infrastructure, which poses a major challenge while implementing new applications. Thus, vendors in the middle office outsourcing market are investing significantly in the development of outsourcing platforms to help financial institutions address this challenge. The middle office outsourcing service providers allow financial institutions to leverage new technologies such as cloud solutions and robotic process automation (RPA). Thus, the need for new technologies and budget constraints are expected to stimulate the middle office outsourcing market growth during the forecast period.
As per Technavio, the rise of automation and cloud solutions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global middle office outsourcing market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Middle Office Outsourcing Market: Rise of Automation and Cloud Solutions
The optimization of middle office operations is crucial for financial institutions to overcome issues of workflow disruption and wrong reporting. Automation has emerged as a key trend in the market, which promises to enable elimination of unnecessary processes, provide valuable insights, cut down costs, and reduce operational risks. Furthermore, cloud-based solutions such as the SaaS middle office model are being adopted to cut down on deployment and operational costs. Thus, the advent of cloud solutions and increasing automation will drive the growth of the middle office outsourcing market value during the forecast period.
“Apart from the rise of automation and cloud solutions, other factors such as the growing security concerns, increased processing complexities in the middle office, and the growing necessity for regulatory compliances will have a significant impact on the middle office outsourcing market growth during the forecast period,” says a senior analyst at Technavio.
Global Middle Office Outsourcing Market: Segmentation Analysis
This market research report segments the global middle office outsourcing market by end-user (investment banking and management, broker-dealers, stock exchange, and others), and geographic regions (North America, Europe, APAC, MEA, and South America).
The North American region led the middle office outsourcing market in 2018, followed by Europe, APAC, MEA, and South America respectively. The growth of the middle office outsourcing market in North America can be attributed to factors such as the advent of new technologies such as AI, ML and deep learning, and the booming financial services sector in the region.
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Market Landscape
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- Market segmentation analysis
Market Sizing
- Market definition
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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