BlackRock Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS TOP 500 Market Report

BlackRock Strengths, Domain Expertise, and Key Differentiators

BlackRock’s position as the world’s largest asset manager, with $11.5 trillion in AUM, is underpinned by its scale, technological prowess, and diversified offerings. The Aladdin platform, a cornerstone of its technology services, provides sophisticated risk analytics and portfolio management tools, serving both BlackRock and external clients. Its iShares ETF franchise, a global leader, drives significant inflows, with $107 billion in Q1 2025.

The firm's diversified business model spans asset management, technology services, and advisory roles, providing resilience against market volatility. Technological innovation remains a cornerstone of BlackRock's strategy, exemplified by its Aladdin platform, which offers comprehensive risk analytics and portfolio management tools to institutional clients.

BlackRock Recent Developments

Over the past five years, BlackRock has significantly advanced its technology solutions, particularly through the evolution of its Aladdin platform, to meet the growing demands of institutional investors and adapt to the dynamic financial landscape.​ BlackRock's Aladdin platform has undergone substantial enhancements, focusing on integrating environmental, social, and governance (ESG) data, climate risk analytics, and advanced portfolio management tools. The introduction of Aladdin Climate enables investors to assess physical and transition climate risks at the security level, facilitating climate-adjusted valuations and risk metrics. Additionally, Aladdin Sustainability incorporates over 15,000 ESG data metrics, supporting comprehensive sustainability analysis across investment portfolios.

To enhance scalability and operational efficiency, BlackRock migrated its Aladdin platform to Microsoft Azure. This transition to cloud infrastructure allows for faster deployment of services, improved resilience, and the ability to meet diverse client requirements across geographies. ​In collaboration with Microsoft, Global Infrastructure Partners, and MGX, BlackRock launched the Global AI Infrastructure Investment Partnership (GAIIP), aiming to invest up to $100 billion in AI infrastructure, including data centers and supporting power infrastructure. This initiative underscores BlackRock's commitment to supporting the digital economy's backbone and advancing AI capabilities.

In December 2023, BlackRock introduced its first generative AI-powered "co-pilot" for select clients of eFront, a software platform within the Aladdin ecosystem. The co-pilot, a chatbot, converts users' written questions into customized data visualizations, enhancing user experience. Following a private preview, the co-pilot will be available to all 130 clients of eFront Insight in the first quarter of the next year. This initiative reflects BlackRock's commitment to innovation and the integration of AI technology across its operations.

In 2020, BlackRock launched Aladdin Climate, a software application offering investors measures of both the physical risk of climate change and the transition risk to a low-carbon economy on portfolios with climate-adjusted security valuations and risk metrics.

BlackRock Mergers and Acquisitions (M&A) Activities

In a strategic move to bolster its private markets data capabilities, BlackRock announced the acquisition of Preqin, a leading provider of alternative assets data, for $3.2 billion. This acquisition aims to integrate Preqin's extensive data offerings with BlackRock's existing platforms, such as Aladdin and eFront, enhancing data-driven decision-making in private markets. ​

Furthermore, BlackRock formed a strategic partnership with Avaloq, a subsidiary of NEC Corporation, to deliver integrated technology solutions for wealth managers and private banks. This collaboration combines Avaloq's core banking and client relationship management services with Aladdin Wealth's risk analytics and portfolio management capabilities, offering a comprehensive platform for wealth management clients.

In January 2021, BlackRock made a minority investment in Clarity AI, a sustainability analytics and data science platform, to further enhance its sustainable investing analytics and software for clients.

In May 2019, BlackRock completed the acquisition of eFront, an investment management software and solutions provider. This acquisition has significantly expanded BlackRock's alternative capabilities, providing a whole portfolio technology solution to clients.

BlackRock Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying BlackRock applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of BlackRock and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Aladdin Enterprise, eFront, Aladdin Wealth, Aladdin Climate customers.

BlackRock Key Enterprise and Cloud Applications

Aladdin Enterprise, eFront, Aladdin Wealth, Aladdin Climate

BlackRock Revenues, $M:

BlackRock Revenue Breakdown By Type, $M:

BlackRock Enterprise Applications Revenues By Functional Markets, $M:

BlackRock Enterprise Applications Revenues By Verticals, $M:

BlackRock Revenues By Region, $M

BlackRock Direct vs Indirect sales

BlackRock Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified BlackRock Customers

No. of BlackRock Customers: 1000

No. of BlackRock Enterprise Applications Customers: x

No. of BlackRock Cloud Customers: x

No. of BlackRock Cloud Subscribers: 55000

BlackRock serves a diverse clientele, including institutional investors, retail clients, governments, pension funds, insurance companies, and high-net-worth individuals across 100 countries. Its institutional clients include major corporations, endowments, and foundations, while retail investors access its iShares ETFs and mutual funds for retirement and wealth-building goals. The Aladdin platform is utilized by leading financial institutions, such as banks and asset managers, for portfolio and risk management. With two-thirds of its global clients committed to net-zero goals, BlackRock tailors solutions to meet varied investment objectives, from sustainable strategies to traditional equity and fixed-income products, fostering deep trust across its client base.

​In 2024, BlackRock's focus on sustainable investing and ESG integration attracted clients seeking long-term value creation aligned with environmental and social considerations. Recent customer wins include Adepa, STANLIB, Mirova, Acumen, BNP Paribas Asset Management and many others.

BlackRock Market Opportunities, M&A and Geo Expansions

The investment management technology market is growing due to increased complexity in investment strategies and the demand for advanced analytics. BlackRock has the opportunity to capitalize on this growth by offering innovative solutions tailored to evolving investor needs and expanding its presence in emerging markets. Leveraging cloud computing, AI, and ML technologies can further enhance BlackRock's offerings, improving operational efficiency and delivering personalized solutions to clients' capabilities.

BlackRock identifies the low-carbon transition as a significant investment opportunity, with plans to allocate capital toward clean energy and electrification projects. The firm's emphasis on infrastructure investments, particularly in data centers and energy, aligns with global trends toward digitalization and sustainability. ​Furthermore, BlackRock's expansion into tokenized assets, including the launch of its first tokenized fund on the Ethereum blockchain, positions the firm at the forefront of digital asset innovation.

BlackRock Risks and Challenges

BlackRock faces regulatory scrutiny, particularly concerning its ESG strategies. In 2025, the New York City Comptroller demanded detailed climate action plans from asset managers, including BlackRock, emphasizing the need for alignment with net-zero carbon emissions goals. ​Geopolitical tensions, such as those surrounding the CK Hutchison ports acquisition, present additional risks, potentially impacting cross-border investments and regulatory approvals.

BlackRock faces challenges that could impact its growth trajectory. Intense competition from rivals like Vanguard and State Street pressures fee margins, particularly in passive investing. Regulatory scrutiny, especially in the U.S., where BlackRock faces political backlash over ESG policies, poses legal and reputational risks. Cybersecurity threats to its Aladdin platform and client data remain a critical concern, given the sensitive nature of its operations. Market volatility, driven by geopolitical tensions and persistent inflation, could reduce AUM and client inflows. Additionally, integration risks from recent acquisitions, such as HPS and GIP, could disrupt operations if synergies are not realized as planned.

BlackRock Ecosystem, Partners, Resellers and SI

Avaloq, a subsidiary of NEC Corporation, entered into a strategic partnership with BlackRock to integrate Avaloq’s core banking and client relationship management capabilities with BlackRock’s Aladdin Wealth platform, combining risk analytics with investment technology for wealth managers and private banks in Europe and Asia. BlackRock has also developed technology partnerships with firms such as Snowflake and Clarity AI to expand its ecosystem and strengthen integration capabilities with system integrators and value-added resellers. Additionally, BlackRock collaborated with private market investors to introduce ESG Outreach, a solution designed to support environmental, social, and governance data collection, analysis, and reporting for private companies. The initiative aims to standardize ESG metrics across private markets and is supported by a group of Limited Partners and Funds of Funds. In another collaboration, BlackRock and Snowflake launched the Aladdin Data Cloud, combining investment technology and data infrastructure for use in the investment management industry.

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: