Canada Asset Management Market by Class Type, Component, and Sourcing - Forecast and Analysis 2023-2027

Published: Dec 2022 Pages: 141 SKU: IRTNTR74805

Canada Asset Management Market Forecast 2023-2027

The Canada asset management market is estimated to grow by USD 20.97 billion, at a CAGR of 14.57% between 2022 and 2027. The growth of the market depends on several factors, including the rising number of high-net-worth individuals (HNWIs) globally, the introduction of diversified wealth management services by vendors, and the rising demand for alternative investments.

What will be the size of the Market During the Forecast Period?

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Market Segmentation

The market share growth of the equity segment will be significant during the forecast period. The equity segment of the market under consideration consists of preferred shares, retained earnings, equity mutual funds, stocks, and private equity investments. The segment growth is predominantly driven by the growing investment of the population into the capital market to achieve a higher internal rate of return (IRR) aided by the propelling urge to diversify income across different asset classes.

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The equity segment was valued at USD 2,113.80 million in 2017 and continued to grow until 2021. Consumers across Canada also invest in the equity market through stock mutual funds. Stock mutual funds invest in corporate stocks and are managed by professionals who understand global economies and other micro- and macro-economical variables. New fund offerings (NFOs) in the equity segment, aided by the growing trend of investing in equity, will drive the growth of the market during the forecast period.

Market Dynamic and Customer Landscape

The rising number of high-net-worth individuals (HNWIs) globally is notably driving the market growth, although factors such as transaction risks may impede the market growth. Our market research and growth report includes the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Driver

Globally, there has been an increase in the number of HNWIs in recent years and this rise is notably driving market growth. Generally speaking, an HNWI is a person whose net worth includes at least USD 1 million in cash or cash equivalents. The ability to participate in pre-IPO placements and pre-ICO sales of any endeavor, asset protection, financial planning, investment monitoring, and other specialized services are made available to these HNWIs.

HNWIs need skilled and strategic assistance to manage their money due to their bigger wealth and investment portfolios. These HNWIs entrust their portfolio management, estate planning, asset protection, and tax management to wealth managers or wealth advisers who are experts in those subjects. In 2022, among all regions, North America witnessed the highest growth rate of around 14% in both the HNWI population and wealth.

Thus, with such a steady rise in the number of HNWIs, the demand for financial services will increase, which will drive the growth of the market in Canada during the forecast period.

Significant Trend 

The growth of mutual fund assets in developing nations is the key trend in the market. Due to the robust performance of the equity markets and net inflows to equity schemes in emerging countries, the mutual fund (MF) sector's asset size rose. For instance, the sector's average assets under management (AAUM) in India increased by around 30% from the previous year.
Similar to this, the value of assets held by mutual funds on behalf of individual investors climbed by 22.32% from INR 17.18 trillion (0.23 USD trillion) in February 2021 to INR 21.02 trillion (0.28) in February 2022. From INR 15.11 trillion (USD 0.20 trillion) in February 2021 to INR 17.54 trillion (USD 0.24 trillion) in February 2022, the value of institutional assets climbed by 16.08%. Thus, the potential opportunity is driving the market growth and trends during the forecast period

Major Challenge 

Transaction risks are the major challenge in the market. Transaction risks arise when a company makes financial transactions or holds accounts in a currency other than its underlying currency. For example, a Canadian company doing business in China is exposed to exchange rate risk because it accepts financial transactions in the Chinese yuan and presents its financial statements in Canadian dollars. The risks that a company faces when conducting financial transactions between countries are called transaction risks. The risk is that the exchange rate will change before the transaction is completed. The duration between transaction and settlement is essentially a source of transaction risks. Forward contracts and options can be used to reduce transaction risks. Such transaction risks make it difficult to target market growth during the forecast period.

Key Customer Landscape 

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Customer Landscape

Who are the Major Asset Management Market in Canada Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Credit Agricole SA - The company offers asset management under the brand, CPR AM. The company offers services such as retail banking, corporate banking, investment banking, private banking, wealth management, and asset management.

The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • ABB Ltd.
  • Allianz SE
  • Aviva Plc
  • BlackRock Inc.
  • BNY Mellon Securities Corp.
  • Brookfield Business Partners LP
  • Canadian Imperial Bank Of Commerce
  • CI Global Asset Management
  • FMR LLC
  • JPMorgan Chase and Co.
  • Manulife Financial Corp.
  • Power Corp. of Canada
  • Royal Bank of Canada
  • Sun Life Financial Inc.
  • The Bank of Nova Scotia

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Market Analyst Overview

In the market, large-cap equity funds, government-focused fixed-income funds, and money market funds remain staples among Canadian investment managers. Amid low-interest rates and volatile public markets, homegrown leaders face challenges from fintech innovations, as alternatives gain traction. The industry witnesses consumer shifts towards ETF-style platforms and technology-driven solutions like blockchain, bots, data analytics, and artificial intelligence. The global pandemic heightened competition among big asset managers, hedge funds, and private equity managers. Indexed and actively managed funds, spanning equities, commodities, and various market caps, navigate decisions amidst potential risks and the emergence of new competitors. The shift towards shorter fixed income and Treasury Inflation-Protected Securities (TIPS) mirrors considerations for rising interest rates.

The market further encompasses specialized products tailored to the fintech market, leveraging artificial intelligence (AI) for enhanced efficiency. It interacts with counterpart countries while offering various share classes within canada mutual funds, including senior loan-based ETFs. Despite reservations, the asset management industry experiences steady growth, driven by technological advancements and evolving investor preferences. The market's adaptability to fintech innovations and diverse investment offerings positions it favorably within the global financial landscape.

Segment Overview

The market analysis and report covers market growth by revenue at, regional & country levels and provides an analysis of the latest market trends and growth opportunities from 2017 to 2027. 

  • Class Type Outlook (USD Million, 2017 - 2027)
    • Equity
    • Fixed income
    • Alternative investment
    • Hybrid
    • Cash Management
  • Component Outlook (USD Million, 2017 - 2027)
    • Solution
    • Service
  • Sourcing Outlook (USD Million, 2017 - 2027)
    • Pension funds and insurance companies
    • Individual investors
    • Corporate investors
    • Other sources

Market Scope

Report Coverage

Details

Page number

141

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Decelerate at a CAGR of 14.57%

Market growth 2023-2027

USD 20.97 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

19.48

Competitive landscape

 Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., Allianz SE, Aviva Plc, BlackRock Inc., BNY Mellon Securities Corp., Brookfield Business Partners LP, Canadian Imperial Bank Of Commerce, CI Global Asset Management, Credit Agricole SA, FMR LLC, JPMorgan Chase and Co., Manulife Financial Corp., Power Corp. of Canada, Royal Bank of Canada, Sun Life Financial Inc., The Bank of Nova Scotia, The Capital Group Companies Inc., The Charles Schwab Corp., The Toronto Dominion Bank, and The Vanguard Group Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2023 and 2027
  • Precise estimation of the market size in Canada and its contribution to the parent market
  • Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
  • Growth of the industry across Canada
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive market growth analysis of factors that will challenge the growth of the vendors in Canada

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Country Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market Segmentation by Component
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Sourcing
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Class Type
    • Exhibit 07: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 08: Parent market
    • Exhibit 09: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 10: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 11: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 12: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 13: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 14: Chart on Canada: Year-over-year growth 2022-2027 (%)
      • Exhibit 15: Data Table on Canada: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Asset management market in Canada 2017 - 2021
      • Exhibit 16: Historic Market Size – Data Table on Asset management market in Canada 2017 - 2021 ($ billion)
    • 4.2 Class type Segment Analysis 2017 - 2021
      • Exhibit 17: Historic Market Size – Class type Segment 2017 - 2021 ($ billion)
    • 4.3 Component Segment Analysis 2017 - 2021
      • Exhibit 18: Historic Market Size – Component Segment 2017 - 2021 ($ billion)
    • 4.4 Sourcing Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Sourcing Segment 2017 - 2021 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 20: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 21: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 22: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 23: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 24: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 25: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 26: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Component

    • 6.1 Market segments
      • Exhibit 27: Chart on Component - Market share 2022-2027 (%)
      • Exhibit 28: Data Table on Component - Market share 2022-2027 (%)
    • 6.2 Comparison by Component
      • Exhibit 29: Chart on Comparison by Component
      • Exhibit 30: Data Table on Comparison by Component
    • 6.3 Solution - Market size and forecast 2022-2027
      • Exhibit 31: Chart on Solution - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 32: Data Table on Solution - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 33: Chart on Solution - Year-over-year growth 2022-2027 (%)
      • Exhibit 34: Data Table on Solution - Year-over-year growth 2022-2027 (%)
    • 6.4 Service - Market size and forecast 2022-2027
      • Exhibit 35: Chart on Service - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 36: Data Table on Service - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 37: Chart on Service - Year-over-year growth 2022-2027 (%)
      • Exhibit 38: Data Table on Service - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Component
      • Exhibit 39: Market opportunity by Component ($ billion)

    7 Market Segmentation by Sourcing

    • 7.1 Market segments
      • Exhibit 40: Chart on Sourcing - Market share 2022-2027 (%)
      • Exhibit 41: Data Table on Sourcing - Market share 2022-2027 (%)
    • 7.2 Comparison by Sourcing
      • Exhibit 42: Chart on Comparison by Sourcing
      • Exhibit 43: Data Table on Comparison by Sourcing
    • 7.3 Pension funds and insurance companies - Market size and forecast 2022-2027
      • Exhibit 44: Chart on Pension funds and insurance companies - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 45: Data Table on Pension funds and insurance companies - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 46: Chart on Pension funds and insurance companies - Year-over-year growth 2022-2027 (%)
      • Exhibit 47: Data Table on Pension funds and insurance companies - Year-over-year growth 2022-2027 (%)
    • 7.4 Individual investors - Market size and forecast 2022-2027
      • Exhibit 48: Chart on Individual investors - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 49: Data Table on Individual investors - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 50: Chart on Individual investors - Year-over-year growth 2022-2027 (%)
      • Exhibit 51: Data Table on Individual investors - Year-over-year growth 2022-2027 (%)
    • 7.5 Corporate investors - Market size and forecast 2022-2027
      • Exhibit 52: Chart on Corporate investors - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 53: Data Table on Corporate investors - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 54: Chart on Corporate investors - Year-over-year growth 2022-2027 (%)
      • Exhibit 55: Data Table on Corporate investors - Year-over-year growth 2022-2027 (%)
    • 7.6 Other sources - Market size and forecast 2022-2027
      • Exhibit 56: Chart on Other sources - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 57: Data Table on Other sources - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 58: Chart on Other sources - Year-over-year growth 2022-2027 (%)
      • Exhibit 59: Data Table on Other sources - Year-over-year growth 2022-2027 (%)
    • 7.7 Market opportunity by Sourcing
      • Exhibit 60: Market opportunity by Sourcing ($ billion)

    8 Market Segmentation by Class Type

    • 8.1 Market segments
      • Exhibit 61: Chart on Class Type - Market share 2022-2027 (%)
      • Exhibit 62: Data Table on Class Type - Market share 2022-2027 (%)
    • 8.2 Comparison by Class Type
      • Exhibit 63: Chart on Comparison by Class Type
      • Exhibit 64: Data Table on Comparison by Class Type
    • 8.3 Equity - Market size and forecast 2022-2027
      • Exhibit 65: Chart on Equity - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 66: Data Table on Equity - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 67: Chart on Equity - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on Equity - Year-over-year growth 2022-2027 (%)
    • 8.4 Fixed income - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Fixed income - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 70: Data Table on Fixed income - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 71: Chart on Fixed income - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Fixed income - Year-over-year growth 2022-2027 (%)
    • 8.5 Alternative investment - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Alternative investment - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 74: Data Table on Alternative investment - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 75: Chart on Alternative investment - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Alternative investment - Year-over-year growth 2022-2027 (%)
    • 8.6 Hybrid - Market size and forecast 2022-2027
      • Exhibit 77: Chart on Hybrid - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 78: Data Table on Hybrid - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 79: Chart on Hybrid - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on Hybrid - Year-over-year growth 2022-2027 (%)
    • 8.7 Cash management - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Cash management - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 82: Data Table on Cash management - Market size and forecast 2022-2027 ($ billion)
      • Exhibit 83: Chart on Cash management - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Cash management - Year-over-year growth 2022-2027 (%)
    • 8.8 Market opportunity by Class Type
      • Exhibit 85: Market opportunity by Class Type ($ billion)

    9 Customer Landscape

    • 9.1 Customer landscape overview
      • Exhibit 86: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 12.3 ABB Ltd.
              • Exhibit 93: ABB Ltd. - Overview
              • Exhibit 94: ABB Ltd. - Business segments
              • Exhibit 95: ABB Ltd. - Key offerings
              • Exhibit 96: ABB Ltd. - Segment focus
            • 12.4 Allianz SE
              • Exhibit 97: Allianz SE - Overview
              • Exhibit 98: Allianz SE - Business segments
              • Exhibit 99: Allianz SE - Key news
              • Exhibit 100: Allianz SE - Key offerings
              • Exhibit 101: Allianz SE - Segment focus
            • 12.5 BlackRock Inc.
              • Exhibit 102: BlackRock Inc. - Overview
              • Exhibit 103: BlackRock Inc. - Product / Service
              • Exhibit 104: BlackRock Inc. - Key offerings
            • 12.6 BNY Mellon Securities Corp.
              • Exhibit 105: BNY Mellon Securities Corp. - Overview
              • Exhibit 106: BNY Mellon Securities Corp. - Business segments
              • Exhibit 107: BNY Mellon Securities Corp. - Key offerings
              • Exhibit 108: BNY Mellon Securities Corp. - Segment focus
            • 12.7 Brookfield Business Partners LP
              • Exhibit 109: Brookfield Business Partners LP - Overview
              • Exhibit 110: Brookfield Business Partners LP - Business segments
              • Exhibit 111: Brookfield Business Partners LP - Key offerings
              • Exhibit 112: Brookfield Business Partners LP - Segment focus
            • 12.8 Canadian Imperial Bank Of Commerce
              • Exhibit 113: Canadian Imperial Bank Of Commerce - Overview
              • Exhibit 114: Canadian Imperial Bank Of Commerce - Business segments
              • Exhibit 115: Canadian Imperial Bank Of Commerce - Key offerings
              • Exhibit 116: Canadian Imperial Bank Of Commerce - Segment focus
            • 12.9 CI Global Asset Management
              • Exhibit 117: CI Global Asset Management - Overview
              • Exhibit 118: CI Global Asset Management - Product / Service
              • Exhibit 119: CI Global Asset Management - Key offerings
            • 12.10 Credit Agricole SA
              • Exhibit 120: Credit Agricole SA - Overview
              • Exhibit 121: Credit Agricole SA - Product / Service
              • Exhibit 122: Credit Agricole SA - Key offerings
            • 12.11 FMR LLC
              • Exhibit 123: FMR LLC - Overview
              • Exhibit 124: FMR LLC - Product / Service
              • Exhibit 125: FMR LLC - Key offerings
            • 12.12 Manulife Financial Corp.
              • Exhibit 126: Manulife Financial Corp. - Overview
              • Exhibit 127: Manulife Financial Corp. - Business segments
              • Exhibit 128: Manulife Financial Corp. - Key offerings
              • Exhibit 129: Manulife Financial Corp. - Segment focus
            • 12.13 Power Corp. of Canada
              • Exhibit 130: Power Corp. of Canada - Overview
              • Exhibit 131: Power Corp. of Canada - Business segments
              • Exhibit 132: Power Corp. of Canada - Key offerings
              • Exhibit 133: Power Corp. of Canada - Segment focus
            • 12.14 Royal Bank of Canada
              • Exhibit 134: Royal Bank of Canada - Overview
              • Exhibit 135: Royal Bank of Canada - Business segments
              • Exhibit 136: Royal Bank of Canada - Key offerings
              • Exhibit 137: Royal Bank of Canada - Segment focus
            • 12.15 The Bank of Nova Scotia
              • Exhibit 138: The Bank of Nova Scotia - Overview
              • Exhibit 139: The Bank of Nova Scotia - Business segments
              • Exhibit 140: The Bank of Nova Scotia - Key offerings
              • Exhibit 141: The Bank of Nova Scotia - Segment focus
            • 12.16 The Capital Group Companies Inc.
              • Exhibit 142: The Capital Group Companies Inc. - Overview
              • Exhibit 143: The Capital Group Companies Inc. - Product / Service
              • Exhibit 144: The Capital Group Companies Inc. - Key offerings
            • 12.17 The Toronto Dominion Bank
              • Exhibit 145: The Toronto Dominion Bank - Overview
              • Exhibit 146: The Toronto Dominion Bank - Business segments
              • Exhibit 147: The Toronto Dominion Bank - Key offerings
              • Exhibit 148: The Toronto Dominion Bank - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 149: Inclusions checklist
                • Exhibit 150: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 151: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 152: Research methodology
                • Exhibit 153: Validation techniques employed for market sizing
                • Exhibit 154: Information sources
              • 13.5 List of abbreviations
                • Exhibit 155: List of abbreviations
              • adoption of multichannel marketing strategies: The key vendors in the market are striving to expand their target customer base by investing in marketing and promotional activities. Large specialized consumer service providers aim at strengthening their presence by investing in brand visibility activities, celebrity endorsements, and marketing through channels such as television, radio, the Internet, print media, posters, and direct mails. The competitors also use a targeted advertising approach and launch advertisements that are designed and crafted to promote the services and communicate the brand positioning.
                • attrition and training: Professional, skilled, and unskilled workforce is required to provide specialized consumer services. However, there is a shortage of skilled and professional workforce to meet the demand. For instance, in security services, a skilled workforce is required when new monitoring devices and security gadgets are developed and adopted. Several vendors provide rigorous training to their employees about the handling of critical tasks while serving specialized consumer services. However, the retention of such a workforce is a major challenge.

                  Research Framework

                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                  INFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

                  • Industry journals and periodicals
                  • Government data
                  • Financial reports of key industry players
                  • Historical data
                  • Press releases

                  DATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

                  • Triangulation with data models
                  • Reference against proprietary databases
                  • Corroboration with industry experts

                  REPORT WRITING

                  Qualitative

                  • Market drivers
                  • Market challenges
                  • Market trends
                  • Five forces analysis

                  Quantitative

                  • Market size and forecast
                  • Market segmentation
                  • Geographical insights
                  • Competitive landscape

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                  Key Questions Answered

                  • What are the key global market and the regional market share?
                  • What are the revenue-generating key market segments?
                  • What are the key factors driving and challenging this market’s growth?
                  • Who are the key market vendors and their growth strategies?
                  • What are the latest trends influencing the growth of this market?
                  • What are the variables influencing the market growth in the primary regions?
                  • What are the factors influencing the growth of the parent market?

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