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Smart Advisor Market - Growth, Trends, and Forecasts (2020-2025)

  • ID: 5120134
  • Report
  • June 2020
  • Region: Global
  • 102 pages
  • Mordor Intelligence

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  • 24/7 Customer Inc.
  • Codebaby Corporation
  • Creative Virtual Pvt Ltd.
  • CX Company Limited
  • eGain Corporation
  • IBM Corporation
  • MORE
The smart advisors market is expected to witness a growth at a CAGR of 20.3% over the forecast period (2020-2025). The smart advisor is an innovative digital investor communication platform that enables the efficient way for financial advisors. This platform allows investment professionals to access and deliver relevant documents to investors required for regulatory compliance communications, marketing, and sales campaigns.
  • Over the years, as the wealth of affluent upper-middle-class in emerging economies, there has been an increase in demand for a wealth advisory across the countries in the world. Additionally, there has been a substantial increase in the number of high-net-worth individuals (HNWIs), worldwide. This is one of the main factors driving the adoption of smart advisors solutions by the users.
  • Currently, the raw material cost is the most important cost for any industry. Hence, managing the inventory and purchases is very crucial, so that losses will not be caused by the businesses. Companies are increasingly deploying smart advisors solutions for their bcompanies to get an assist with complex cost management.
  • Due to the ongoing outbreak of COVID-19, companies across the core domains are experiencing an economic downturn. This has resulted for the need for advisors to manage the business cost and investments. By the end of 2020, the market is expected to align with normalcy and is estimated that the company may look for proper investment plans with smart advisor solution to be ready for the upcoming growth in 2021.
Key Market Trends

Retail Segment is Expected to Witness Significant Adoption for Smart Advisor Solutions.
  • Consumers have traditionally made purchase decisions at the store shelf, giving institutional brick-and-mortar retailers high power to learn about and influence behaviors and preferences of consumers. With the rise of e-commerce, mobile shopping, and most recently smart technologies, the retail industry is adapting faster; new cutting edge technologies such as intelligent point of sales solutions, self-checkout kiosks, among others, are transforming traditional brick and mortar store to omnichannel stores. According to ZDNet, 70% of the companies either have a digital transformation strategy in place or working with one.
  • Big Data, Artificial Intelligence, IoT, Automation, Blockchain Technology, Virtual Reality, among others, are some of the prominent technologies that are digitally disrupting the retail industry. The AI-equipped retailers with sharper forecasting tools help in making smarter business decisions. The use of algorithms increases visibility into ROI implications, translating to lower costs, and higher sales. AI has brought real disruption to the retail sector by improving efficiency, as well as prediction.
  • UK-based High Street Fashion Retailer has mentioned deploying smart advisor solutions for increasing its customer engagement campaigns, as it was facing higher operational costs with its e-commerce expansion. With this deployment, the company was able to manage customer inquiries on its website, and Email traffic reduced by 51%, a good 14% more than the target. Such continuous successes are expected to create more awareness about the solution in the retail industry.
European Market is Expected to Grow Significantly
  • The European government has been increasingly focusing on reducing its operation cost service desk support costs and improving employee productivity. The UK Government have mentioned that, in recent past five years, they have been looking forward to adopting smart advisor solution to gain on reduced operational cost. The government department has mentioned of 30% reduction in cost while maintaining the same level of service.
  • Additionally, the European Tax Agency has also adopted a Smart Advisor solution as part of its digitization program. It serves 41 million individual customers, as well as five million business customers. With this adoption, 257,000 interactions were handled using the Virtual Assistant rather than a real agent, increased the volume of tax returns being completed online to 89%, 88,000 calls have been deflected using webchat, and a further 41,000 calls have been eliminated, with call waiting times halved.
Competitive Landscape

The Market for Smart Advisors is more inclined towards consolidation with the presence of few companies in the market. Additionally, these companies which are currently operating in the market are well established, and the primary competition is between themselves. However, in the recent past year, the market is experiencing continuous entry of new entrants. As it deals with the company's sensitive data, data protection has been an issue to deal with, so customers prefer established players for smart advisor solutions.
  • November 2019 - eGain announced the introduction of AI and knowledge and embedded in the salesforce agent console for delivering smooth omnichannel customer engagement for service and sales.
Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
Note: Product cover images may vary from those shown


  • 24/7 Customer Inc.
  • Codebaby Corporation
  • Creative Virtual Pvt Ltd.
  • CX Company Limited
  • eGain Corporation
  • IBM Corporation
  • MORE
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study



4.1 Market Overview
4.2 Market Drivers
4.2.1 Burgeoning Demand for Intelligent Customer Engagement
4.2.2 Demand for Automation for Cost Management in the Healthcare
4.2.3 Increasing Penetration of Websites and Mobile Applications Integrated with Cloud Computing
4.3 Market Restraints
4.3.1 Lack of Awareness & Information and Availability as add-in Under Analytics
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porters Five Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Assessment on the Impact of COVID-19 on the market


6.1 By Offerings
6.1.1 Software
6.1.2 Services
6.2 By End-user Verticals
6.2.1 BFSI
6.2.2 Retail
6.2.3 Travel and Hospitality
6.2.4 Government
6.2.5 Other End-user Verticals (Healthcare, Consumer Electronics)
6.3 Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia-Pacific
6.3.4 Rest of the World

7.1 Company Profiles*
7.1.1 IBM Corporation
7.1.2 eGain Corporation
7.1.3 Creative Virtual Pvt Ltd.
7.1.4 CX Company Limited
7.1.5 24/7 Customer Inc.
7.1.6 Nuance Communications Inc.
7.1.7 Artificial Solutions International AB
7.1.8 Next IT Corporation
7.1.9 Speakoit Inc.
7.1.10 Codebaby Corporation


Note: Product cover images may vary from those shown


  • IBM Corporation
  • eGain Corporation
  • Creative Virtual Pvt Ltd.
  • CX Company Limited
  • 24/7 Customer Inc.
  • Nuance Communications Inc.
  • Artificial Solutions International AB
  • Next IT Corporation
  • Speakoit Inc.
  • Codebaby Corporation
Note: Product cover images may vary from those shown