BlackRock Strengths, Domain Expertise, and Key Differentiators
BlackRock's key strengths lie in its domain expertise and product portfolio, particularly in the field of investment management technology. The company's AI/ML features within Aladdin offer advanced analytics and insights, helping clients make informed investment decisions. Additionally, BlackRock's strategic partnerships, such as hosting Aladdin infrastructure on the Microsoft Azure cloud, demonstrate its commitment to innovation and technology leadership in the industry.
BlackRock Recent Developments
In 2022, BlackRock's technology services revenue reached $1.4 billion, representing an increase of $83 million from 2021. This growth was primarily driven by higher revenue from Aladdin, despite challenges such as negative impacts from foreign exchange movements and market declines on Aladdin's fixed income platform assets.
In December 2023, BlackRock has 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 May 2022, BlackRock has expanded its partnership with private market investors to offer a universal solution for ESG reporting, leveraging its ESG Outreach solution developed in partnership with private markets investors. The solution aims to streamline and standardize ESG data collection, analysis, and reporting for over 70,000 private companies. By providing a scalable data aggregation solution, ESG Outreach seeks to accelerate the availability of ESG data within private markets and create a benchmark of key ESG metrics. The initiative is supported by a consortium of Limited Partners and Funds of Funds, with leading partners highlighting the benefits of the solution in enhancing transparency and reporting practices in the industry.
In February 2021, BlackRock signed a partnership with Snowflake to combine BlackRock's Aladdin investment technology with Snowflake's Data Cloud, launching the Aladdin Data Cloud. This partnership has significantly enhanced Snowflake's position in the investment management industry.
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 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, a investment management software and solutions provider. This acquisition has significantly expanded BlackRock's alternatives 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 Overview
50 Hudson Yards
New York, NY, 10001, United States
1 212-810-5300
https://www.blackrock.com/
Ownership: - NYSE: BLK
Number of Employees: 19800
Functional Markets: Analytics and BI, CRM, ERP Financial, ERP Services and Operations, TRM,
Key Verticals: Banking and Financial Services, Federal Government, State and Local Government, Public Safety, Life Insurance, P&C Insurance, Specialty Insurance, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit,
BlackRock Key Enterprise and Cloud Applications
Aladdin Enterprise, eFront, Aladdin Wealth, Aladdin Climate
BlackRock Revenues, $M:
| Type/Year | 2022 | 2023 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| Enterprise Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
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
| Region | % of Total Revenues | 2023 Total Revenues, $M | 2023 Enterprise Applications Revenues, $M | 2023 Cloud Applications Revenues, $M |
|---|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe | Subscribe |
BlackRock Direct vs Indirect sales
| Region | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
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 mix of institutional and retail clients globally. Its clients include tax-exempt institutions, official institutions, taxable institutions, and retail investors. 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 Risks and Challenges
BlackRock faces internal risks such as technology failures and talent retention challenges. Externally, the company is exposed to regulatory and competitive risks in the highly competitive investment management technology industry. Despite these challenges, BlackRock has opportunities to expand its market presence through the adoption of advanced technologies, provided it effectively communicates its value proposition and addresses market saturation and pricing pressures.
The company's reliance on key technology partnerships, such as hosting Aladdin infrastructure on the Microsoft Azure cloud, exposes it to increased regulatory oversight and migration, execution, technology, and operational risks. Failure to manage these risks effectively could result in financial loss, client dissatisfaction, regulatory fines, reputational harm, or legal liability, impacting BlackRock's AUM, revenue, and earnings.
BlackRock Ecosystem, Partners, Resellers and SI
In June 2023, Avaloq, a subsidiary of NEC Corporation and BlackRock have announced a strategic partnership to enhance investment technology solutions for wealth managers and private banks. Through this collaboration, they aim to streamline operations across the client journey, integrating Avaloq’s core banking and client relationship management services with Aladdin Wealth platform’s risk analytics. This partnership is expected to provide advanced technology offerings to the wealth management industry, benefiting clients in Europe and Asia with an integrated wealth tech platform.
BlackRock has established strong technology integrations and ecosystem partnerships, including its partnership with Snowflake and Clarity AI. These partnerships enhance the value proposition of BlackRock's offerings and contribute to network effects, particularly with system integrators and value-added resellers.
In conclusion, BlackRock's technology solutions, including Aladdin and eFront, are poised to transform the investment management industry. With a focus on innovation and strategic partnerships, BlackRock is well-positioned to capitalize on market opportunities and address evolving client needs.
BlackRock Cloud Infrastructure Insights
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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:
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