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Global Family Offices Market to Grow at a CAGR of 9.8% during 2021-2026, Aided by the Rise in Worldwide Wealth

According to a new report by EMR titled, ‘Global Family Offices Market Report and Forecast 2021-2026’, the global market for family offices attained a value of about USD 79.2 billion in 2020. The industry is further expected to grow at a CAGR of 9.8% in the forecast period of 2021-2026.

Integrating technology with the traditional working method, due to distant working owing to the pandemic is anticipated to drive the family offices industry in the coming years. The adoption of technically driven management systems to manage family wealth is now being outsourced to software that can quickly and efficiently perform tasks that are otherwise time-consuming if done by humans, thus boosting productivity and invigorating the market growth. Artificial Intelligence (AI) can perform tasks at greater speed and efficiency. The use of robotic process automation (RPA) for automating routine and manual tasks so that employees can focus on higher-value activities, is expected to further drive the market in the forecast period. However, cyber threats like data breaches are projected to hinder market growth yet continuous improvement in technology to secure online wealth management is providing lucrative growth opportunities.

Among many companies in the family offices industry , is a Berlin-based family office, Kalodion. In October 2021, the single-family office made investments in Circuonomics, a Germany-based startup that works on circular battery economy. As the startup primarily operates on providing batteries to electric-run vehicles, which is the future of Germany, such investments hold tremendous growth opportunities for the family offices industry. The need to address social issues like global warming and sustainable methods of living is anticipated to provide impetus to the family office industry. The investment will enable the production and circulation of recycled lithium-ion batteries optimised with the use of data analytics. With family wealth being invested in promising startups, the family office industry is anticipated to robustly drive the market in the forecast period. Further, agreements such as the one made by Ecolab (NYSE: ECL) and Cascade Investment and the Bill & Melinda Gates Foundation Trust to permit Gates investment vehicles to attain up to 25% ownership stake in Ecolab, are also expected to boost the market growth.

Market Analysis by Type, Asset Class, and Region:

  • Based on type, the market can be divided into single family office, multi-family office, and virtual family office.
  • On the basis of asset class, the market can be categorised into bonds, equities, alternative investments, commodities, and cash or cash equivalents.
  • The major regional markets for family offices are North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The emergence of family offices can be attributed to the rise in worldwide wealth and the consequent need to manage the affairs of wealthy families.
  • The market for family offices is being augmented by the demand to navigate the complexity of geographical wealth dispersal.
  •  The rising penetration of family offices in India is anticipated to provide lucrative growth opportunities for market growth.
  • Technological integration to keep up with long periods of distant working conditions is bolstering the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market of family offices for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) markets for types, assets classes, and regions of family offices.
  • It assesses regional price trends for the (2016-2020) and (2021-2026) periods.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global family offices market are Cascade Investment LLC, MSD Capital, LP, Stonehage Fleming Family & Partners Limited, Glenmede Corporation, and Bessemer Trust, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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