Family Offices Market Revenues to Reach USD 209.91 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence
Hyderabad, June 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Family Offices Market (2023-2028)," the market is estimated at USD 124.28 billion in 2023. It is expected to register a CAGR of 11.05% during the forecast period.
A family office refers to a private wealth advisory firm that aims to serve ultra-high network-worth people. Family offices invest prominently in alternative assets. They include a comparatively lower number of restrictions and, thus, offer flexibility.
*Report Summary:*
*Report Attribute* *Details*
Market Size (2023) USD 124.28 billion
Market Size (2028) USD 209.91 billion
CAGR (2023-2028) 11.05%
Study Period 2019-2028
Fastest Growing Market Asia-Pacific
Largest Market North America
Forecast Units Value (USD billion)
Report Scope Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market Drivers The growth of the Automation and Robotics Industry.
The growth of the industries related to Health Technology and Smart Mobility.
*Who are the top companies in the Family Offices Market?*
The family offices market is immensely competitive and has gained popularity in investment circles. The rise of this industry is mainly due to changes occurring in the overall economic conditions of families. North America dominates the family offices market and is in control of around two-thirds of family offices, where investments are made via SFOs and MFOs.
The most notable players in the family offices market are,
· Cascade Investment LLC
· Bezos Expeditions
· Bessemer Trust
· MSD Capital
· Stonehage Fleming
· Glenmede
· Emerson Collective
· Silvercrest Asset Management
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*Key Highlights from the **Family Offices Market** Report**:*
*Most Assets of the Family Offices are Invested in Alternatives *
· Family offices prioritize alternative assets as primary investments. During the post-pandemic era, environmental and social issues were the most prevalent themes in the economy.
· 86% of the total family offices encourage the incorporation of healthcare technology, and more than 70% are keen on investing in digital and green technologies.
· The median asset allocations of family offices are highest in hedge funds and private equity.
*Growing Demand for Family Offices Around the World*
· Family offices have gained immense popularity within investment circles. The main reason for the increase in demand is the improvement of economic conditions globally.
· North America dictates the family office market, with around 92,000 wealthy families.
· Investments are made via SFOs and MFOs in North America, which holds around two-thirds of the market globally.
*What are the latest developments in the Family Offices Market?*
· In March 2023, Grand Rapids, MI-based BlueWater Partners LLC was acquired by Cascade Partners.
· In October 2022, MSD Partners LP (MSD) and BDT & Company Holdings LLC came under an agreement. Through this, they planned on forming an advisory and investment firm, which will help businesses led by founders and families.
*Mordor Intelligence has Segmented the Family Offices Market Based on Product, Asset Class of Investment, and Geography: *
· By Product
· Single Family Office
· Multi Family Office
· Virtual Family Office
· By Asset Class Of Investment
· Bonds
· Equities
· Alternative Investments
· Commodities
· Cash Or Cash Equivalents
· By Geography
· North America
· Europe
· Asia-Pacific
· Latin America
· Middle East & Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Family Offices Market Report (2023-2028).
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*About Mordor Intelligence:*
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
*Attachment*
· Family Offices Market_Mordor Intelligence
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