Published Date: 24-Nov-2022
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According to a new report, published by KBV research, The Global Robo Advisory Market size is expected to reach $24 billion by 2028, rising at a market growth of 29.9% CAGR during the forecast period.
The Fintech Robo Advisors market is leading the Global Robo Advisory Market by Provider in 2021; thereby, achieving a market value of $10.7 billion by 2028. It is because, in the field of financial technology, robo-advisers are computer programs that assist with financial management and are automated solutions based on Artificial Intelligence (AI) and Machine Learning (ML) technologies as well as algorithms. Robo advisors have become one of the most prominent trends among wealth tech apps, which are designed to assist individuals with financial management and investing.
The High Net Worth Individuals market has acquired maximum revenue share in the Global Robo Advisory Market by End User in 2021; thereby, achieving a market value of $14.0 billion by 2028. The expansion of the category is predicted to be driven by the rising demand for HNWIs among private equity managers as a means of protecting their assets. In addition, high-net-worth individuals typically seek the guidance of investment experts to effectively manage their fortune.
The Comprehensive Wealth Advisory market is experiencing a CAGR of 31.6% during (2022 - 2028). These consultants offer comprehensive wealth management services to their clients by gathering their clients' financial net worth and gaining an understanding of their risk tolerance. In addition to making suggestions for fund-based portfolios, they also offer financial planning, services for portfolio management, and financial counseling for wealth and estate planning.
The Pure Robo Advisors market is anticipated to witness a CAGR of 31.5% during (2022 - 2028). It is due to the rising desire for robo-advice among consumers throughout the world would increase the need for pure robo-advisers, which will considerably contribute to the growth of the market. In addition, pure robo advisers include safety features, client support that is both entertaining and helpful, vast educational resources, and affordable consultation prices.
The North America market dominated the Global Robo Advisory Market by Region in 2021; thereby, achieving a market value of $8.8 billion by 2028. The Europe market is poised to grow at a CAGR of 29.3% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 30.4% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/robo-advisory-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Wealthify Limited (Aviva plc), The Charles Schwab Corporation, Betterment LLC, Fincite GmbH, Wealthfront Corporation, The Vanguard Group, Inc., Ellevest, Inc., Ginmon Vermögensverwaltung GmbH, SigFig Wealth Management, LLC and Social Finance.
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