The global pension funds industry, which was valued at $64.1 trillion in 2022, is expected to reach $109.1 trillion by 2032, growing at a CAGR of 5.5% between 2023 and 2032, according to a new report by Allied Market Research, the research and business-consulting arm of Delaware-based Allied Analytics LLP.

By fund type, defined benefit pension funds had the largest market share in 2022, accounting for about three-quarters of global pension fund revenue and are expected to maintain their lead throughout the projection period. According to The Pension Funds Market by Fund Type: Global Opportunity Analysis and Industry Forecast, 2022-2032, this segment is expected to grow at the highest CAGR of 9% between 2023 and 2032.

By end user, the government segment held the largest market share in 2022, accounting for more than two-thirds of global pension fund revenue and is predicted to grow at the fastest CAGR of 6.2% from 2023-2032.

By region, North America had the greatest market share in terms of revenue in 2022, accounting for more than one-third of the pension funds market revenue and is expected to continue its lead throughout the period. However, Asia-Pacific is predicted to have the quickest CAGR of 8.4% between 2023 and 2032.