Pension Funds Global Market 2024 To Reach $97,599.10 Billion By 2028 At Rate Of 8.9%
The Business Research Company's Pension Funds Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 30, 2024 /EINPresswire.com/ -- The pension funds market has experienced robust growth in recent years, expanding from $63,806.67 billion in 2023 to $69,418.63 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increasing aging populations, growing economic conditions and growth rates, fluctuating long-term interest rates, changing legislative and regulatory frameworks, rising stock and bond market performance, varying inflation rates, and shifting corporate profitability.
Strong Future Growth Anticipated
The pension funds market is projected to continue its strong growth, reaching $97,599.10 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to an increasing focus on sustainability and ESG investing, growing adoption of digital transformation and fintech, ongoing economic uncertainty, evolving regulatory frameworks, changing interest rate trends, rising longevity risk, and consolidating pension funds.
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Growth Driver Of The Pension Funds Market
A rise in demographic demand for aging populations is expected to propel the growth of the pension fund market going forward. The demographic demand for aging populations is increasing due to advancements in healthcare and medicine, prolonging life expectancy and declining birth rates, and reducing the proportion of younger generations to support elderly populations. Aging populations increasingly need pension funds to provide financial security and sustainable income during their retirement years as life expectancies rise and birth rates decline.
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Major Players And Market Trends
Key players in the pension funds market include Allianz SE, JPMorgan Chase & Co., Bank of America Corporation, Prudential Financial Inc, The Goldman Sachs Group Inc., UBS Group AG.
Major companies operating in the pension funds market are improving pension portability solutions with advanced pension tracing services to enhance member experience and streamline the transfer of pension assets across different plans. Pension tracing offers a comprehensive service to help individuals locate, verify, and consolidate their various pension plans accumulated over their careers.
Segments:
1) By Type: Distributed Contribution, Distributed Benefit, Reserved Fund
2) By Application: Low Income Group, High Income Group
3) By End User: Government, Corporate, Individuals
Geographical Insights: North America Leading The Market
North America was the largest region in the pension funds market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pension funds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Pension Funds Market Definition
A pension fund is a pool of assets set aside by an employer, employees, or both to provide retirement income for employees. It is managed to grow over time through investments in various financial instruments, ensuring that employees receive regular payments or a lump sum upon retirement. The fund provides financial security and stability for individuals in retirement by offering a reliable source of income.
Pension Funds Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Pension Funds Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pension funds market size, pension funds market drivers and trends, pension funds market major players, pension funds competitors' revenues, pension funds market positioning, and pension funds market growth across geographies. The pension funds market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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