The middle office outsourcing market is expected to grow by USD 1.92 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global middle office outsourcing market 2020-2024 (Graphic: Business Wire)
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.
To learn more about the global trends impacting the future of market research, download a free sample: https://www.Technavio.Com/talk-to-us?Report=IRTNTR40581
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 research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
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.
"Factors such as growing security concerns, increased processing complexities in the middle office, and the growing necessity for regulatory compliances will have a positive impact on the growth of the middle office outsourcing market value during the forecast period," says a senior analyst at Technavio.
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Middle Office Outsourcing Market: Segmentation Analysis
This market research report segments the middle office outsourcing market by end-user (investment banking and management, broker-dealers, stock exchange and others), and geography (North America, APAC, Europe, South America and MEA).
The North American region led the middle office outsourcing market in 2019, followed by Europe, APAC, MEA and South America. During the forecast period, the North American region is expected to register the highest incremental growth due to the booming financial services sector and technological innovations.
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Some of the key topics covered in the report include:
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.Com: https://www.Businesswire.Com/news/home/20200219005599/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.Technavio.Com/
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