Market revenue in 2023 | USD 4,850.6 million |
Market revenue in 2030 | USD 12,068.3 million |
Growth rate | 13.9% (CAGR from 2023 to 2030) |
Largest segment | Human advisory |
Fastest growing segment | Robo Advisory |
Historical data covered | 2017 - 2022 |
Base year for estimation | 2023 |
Forecast period covered | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Human Advisory, Robo Advisory, Hybrid |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to wealth management software market will help companies and investors design strategic landscapes.
human advisory was the largest segment with a revenue share of 57.65% in 2023. Horizon Databook has segmented the Global wealth management software market based on human advisory, robo advisory, hybrid covering the revenue growth of each sub-segment from 2017 to 2030.
The wealth management industry is undergoing significant transformation, addressing its challenges through leveraging innovative technologies such as artificial intelligence, machine learning, and robotic process automation. The focus of financial advisory services has changed from the traditional personal relationship approach to a more automated approach, emphasizing low cost advisory service.
In addition, financial advisors across the globe are observed opting for Registered Investment Advisor (RIA) over wire house operating models, which has boosted the demand for RIAs. The growing volume of customer data has led to an increased demand for secure and efficient data storage facilities. In addition, improved computing power has led to the introduction of artificial intelligence and machine learning algorithms.
Increasing passive investments and decreasing spending by client on financial advisory services have led asset managers to invest in technologies to minimize operating cost and comply with regulatory scrutiny. Furthermore, clients of wealth management firms are demanding data-driven and personalized investment insights, which has led wealth management firms to opt for big data and analytics applications.
Horizon Databook provides a detailed overview of global-level data and insights on the Global wealth management software market , including forecasts for subscribers. This global databook contains high-level insights into Global wealth management software market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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