The US retirements industry represents the world’s largest addressable retirements market, encompassing over 75 million participants. It grew from US$25.3 trillion in 2016 to US$39.4 trillion in assets under management through December 2021. The industry is facing multiple challenges today – a shifting regulatory landscape, increasing burden of legacy systems and processes, evolving customer expectations, and increasing scrutiny on cybersecurity and data privacy measures.
Players in this market are looking to adopt IT and technology to help them cope with the growing cost pressures and increase agility and scalability. We expect IT services spend to increase at 9-11% between 2020 and 2023 as the industry invests in a data-driven evolution. The IT services market is well-positioned to guide retirements industry players through their modernization and digitization roadmaps.
This report highlights the key challenges and growth drivers of spending in the retirements IT services market. The study also looks at key IT service providers in this space and covers their scale, capability, offerings, and client success stories.
Scope
Industry:Retirements IT services
Geography:North America
Contents
In this report, we share:
Provide an overview of the retirements IT services market
The retirement plan industry in the US is evolving rapidly. With over US$37.5 trillion of assets under management as of Q1 2022, it is one ofthe largest retirement markets in the world. However, about 25% ofthe working-class population lacks adequa…
