ALBANY, New York, November 3, 2016 /PRNewswire/ -- The opportunity in the U.S. market for asset management IT solutions is projected to be worth US$1,298.2 mn by 2024. Rising from a valuation of US$828.5 mn in 2015, the market will exhibit a CAGR of 5.1% during the forecast period. Asset Management IT Services Take Lead in U.S. Market The U.S. asset management IT solution market, by deployment model, is led by on-premise software solutions, which is projected to hold a 43.6% share by the end of 2016. Recording a 5.8% CAGR during the course of the forecast period, the hybrid solutions segment presents immense scope for growth. By component, asset management IT services take the lead in the U.S. market and are likely to continue this trend through 2024. Enterprise data management services hold the major share within this segment. Within the asset management IT application segment, portfolio management accounted for the leading market share in 2015. Download PDF Brochure for Market Insights:http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=16142 Based on geography, the northeastern region of the U.S. is anticipated to dominate the asset management IT solutions market, accounting for a share of more than 42.0% in 2016. On the other hand, the asset management IT solutions market in the southern part of the country is expected to register a strong CAGR of 6.1% from 2016 to 2024. Complexities and Compliances of Financial Regulations Boost Adoption of IT Solutions TMR has noted an ongoing growth in exchange traded funds (ETFs) in the U.S., brought on by tax efficiency and high returns associated with them. This, in turn, has created a need for asset management IT solutions. "Asset management companies need comprehensive IT solutions that can help maintain a record of price fluctuations and offer support to the asset manager so as to maximize the returns on an asset," the author of the study says.