Global Wealth Management Software Market By Deployment Type (On-Premises, Cloud), By Advisory Model (Human Advisory, Robo Advisory, Hybrid System), By Organization Size (Large Enterprises, SMEs), By Application (Portfolio, Accounting, & Trading Management, Performance Management, Financial Advice & Management, Risk & Compliance Management, Reporting), By End User (Banks, Investment Management Firms, Trading & Exchange Firms, Brokerage Firms)
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The Global Wealth Management Software Market size is expected to reach $5.0 billion by 2024, rising at a market growth of 13.8% CAGR during the forecast period. The term "Wealth Management" refers to an investment and consulting service that provides financial planning, investment management and other forms of financial advice. Clients like high net worth individuals and businesses who seek financial advice from a financial specialist and generally incorporate all of the client's financial assets are usually provided with asset management services, which are aimed at increasing their wealth.
Global Wealth Management Software Market Size
The need to automate the wealth management process in digital devices is expected to drive the global market throughout the forecast period. Some of the biggest end users of wealth management software include banks, businesses, brokerage firms, forex traders and asset managers. These platforms are not only economical, but can help users to manage wealth and automate workflow. The platforms can also improve digital involvement through the provision of omnibus access and an open architecture that can be easily integrated in various wealth administration applications. These advantages are good for the growth of the market.
Based on Deployment Type, the market is segmented into On-Premise and Cloud. Based on Advisory Model, the market is segmented into Human Advisory, Robo Advisory and Hybrid System. Based on Application, the market is segmented into Portfolio, Accounting, & Trading Management, Performance Management, Financial Advice & Management, Risk & Compliance Management, Reporting and Others. The highest turnover in 2018 was achieved in the portfolio, accounting and trading management segment. The portfolio, accounting and trading management systems can help HNW individuals efficiently and securely manage their financial assets. Over the forecast period, the segment would continue to grow in line with the growing number of high-net-worth persons around the globe. In addition, these solutions offer real time data and analytics that can help to make better investments while improving operational agility, and also to optimize management performance. These skills bode well for the segment's growth.
Global Wealth Management Software Market Share
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on End User, the market is segmented into Banks, Investment Management Firms, Trading & Exchange Firms, Brokerage Firms and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
KBV Cardinal Matrix
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fidelity Information Services, Comarch, SS&C Technologies, Fiserv Inc., SEI Investment Company, Broadridge financial solutions Inc., Temenos AG, Profile Software, Finantix S.P.A, and Dorsum. Based on the Analysis presented in the Cardinal matrix, Fidelity Information Services, Fiserv Inc. and SEI Investment Company are some of the forerunners in the Wealth Management Software market.
Scope of the Study
Wealth Management Software Market Market Segmentation:
By Deployment Type
- On-Premises
- Cloud
By Advisory Model
- Human Advisory
- Robo Advisory
- Hybrid System
By Organization Size
- Large Enterprises
- SMEs
By Application
- Portfolio, Accounting, & Trading Management
- Performance Management
- Financial Advice & Management
- Risk & Compliance Management
- Reporting
- Others
By End User
- Banks
- Investment Management Firms
- Trading & Exchange Firms
- Brokerage Firms
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Companies Profiled
- Fidelity Information Services
- Comarch
- SS&C Technologies
- Fiserv Inc.
- SEI Investment Company
- Broadridge financial solutions Inc.
- Temenos AG
- Profile Software
- Finantix S.P.A
- Dorsum
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