The rising prevalence of digitalization and automation among enterprises is propelling the growth of the market.
Market Size – USD 2.99 Billion in 2020, Market Growth - CAGR of 14.0%, Market Trends – The penetration of the internet.
The global Wealth Management Platform Market is forecast to reach USD 8.48 Billion by 2028, according to a new report by Reports and Data. The rising prevalence of digitalization and automation among enterprises will fuel the growth of the market. The penetration of the internet will also have a positive impact on market growth. High level of awareness has made people aware of several options available and various methods to invest and increase their wealth.
Wealth management services help to create a financial plan to deploy the assets in such a way that most of the business objectives are met. These services ensure that the money keeps compounding, through several different ways, such as sound investments or effective tax planning. Wealth management experts plan and monitor the progress of the firm's strengths and address the obstacles.
Key participants are SEI Investment Company, Objectway, Fidelity National Information Services Inc., Broadridge Financial Solutions, Profile Software, Invest Edge, SS&C Technologies, Comarch, Fiserv Inc., Finantix, Temenos, and Dorsum Investment Software, among others.
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Further key findings from the report suggest
- Among the advisory types, human-advisors accounted for the largest market share of ~43% in the year 2020.
- Investment through human-advisors allows the client to set realistic goals, guarding against panic and excess enthusiasm; and changes the spending & saving habits. These services and solutions are personalized and can be customized according to the client.
- The financial advice & management application is forecasted to witness the highest growth rate of 16.2% during the forecast period. Financial advice & management determines one's short and long-term financial goals and monitors the ways to meet them.
- The large-sized organizations account for a larger market share of ~64% in the year 2020, owing to the increasing investments by existing large financial service enterprises in wealth management platforms. Established players in the market have started adopting technologies like artificial intelligence, block-chain, and machine learning to automate their services.
- The on-premises deployment model accounts for a larger market share of ~63% in the year 2020. On-premises deployment of these software and services ensures the security of the confidential data of the firms. Moreover, information deployed on-premises provide better accessibility and security to the organizations.
- Among the end-users, trading and exchange firms are anticipated to witness the highest CAGR of 15.6% during the forecast period, attributed to the need to manage and monitor the wealth and assets of these firms.
- North America held the largest market share of ~31% in the year 2020, owing to the rapid technological advancements and increasing government investments into the development of IoT, block-chain, artificial intelligence (AI), and machine learning. Moreover, the presence of some of the leading players of the market in the region will also drive the growth of the market.
- Key participants are SEI Investment Company, Objectway, Fidelity National Information Services Inc., Broadridge Financial Solutions, Profile Software, Invest Edge, SS&C Technologies, Comarch, Fiserv Inc., Finantix, Temenos, and Dorsum Investment Software, among others. The companies have adopted various strategies, including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/wealth-management-platform-market
For the purpose of this report, Reports and Data have segmented into the global wealth management platform market on the basis of advisory type, application, deployment model, organization size, end-user, and region:
Advisory type Outlook (Revenue, USD Billion; 2020-2028)
- Human Advisors
- Automated or Robo-Advisors
- Hybrid
Application Outlook (Revenue, USD Billion; 2020-2028)
- Financial Advice & Management
- Portfolio, Accounting, & Trading Management
- Performance Management
- Risk & Compliance Management
- Reporting
- Others
Organization Size Outlook (Revenue, USD Billion; 2020-2028)
- Small and Medium-Sized Enterprises
- Large Enterprises
Deployment model Outlook (Revenue, USD Billion; 2020-2028)
- Cloud
- On-premises
End-user Outlook (Revenue, USD Billion; 2020-2028)
- Banks
- Investment Management Firms
- Trading & Exchange Firms
- Brokerage Firms
- Others
Regional Outlook (Revenue, USD Billion; 2020-2028)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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Market Report includes major TOC points:
- Wealth Management Platform market Overview
- Global Economic Impact on Industry
- Global Market Competition by Manufacturers
- Global Production, Revenue (Value) by Region
- Global Supply (Production), Consumption, Export, Import by Regions
- Global Production, Revenue (Value), Price Trend by Type
- Global Market Analysis by Application
- Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Market Effect Factors Analysis
- Wealth Management Platform market Forecast
Conclusively, all aspects of the Wealth Management Platform market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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