The global robo advisory market size reached US$ 7.3 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 35.6 Billion by 2028, exhibiting a growth rate (CAGR) of 28.4% during 2023-2028.
Robo advisory refers to a class of digital platforms that provide algorithm-driven and automated financial advice to wealth management organizations. It aids in automating portfolio administration software, performing complicated tasks, customizing online investments, and managing funds with minimal human intervention. This, in turn, assists in targeting new clients, enhancing workflow, and adjusting custom online investments to achieve long-term financial goals or short-term investment strategies. At present, robo advisory is commercially available in varying service types, such as direct plan-based, goal-based, and comprehensive health advisory.
2. What is the expected growth rate of the global robo advisory market during 2023-2028?
3. What are the key factors driving the global robo advisory market?
4. What has been the impact of COVID-19 on the global robo advisory market?
5. What is the breakup of the global robo advisory market based on the business model?
6. What is the breakup of the global robo advisory market based on the service type?
7. What is the breakup of the global robo advisory market based on the provider?
8. What is the breakup of the global robo advisory market based on the end user?
9. What are the key regions in the global robo advisory market?
10. Who are the key players/companies in the global robo advisory market?
Robo advisory refers to a class of digital platforms that provide algorithm-driven and automated financial advice to wealth management organizations. It aids in automating portfolio administration software, performing complicated tasks, customizing online investments, and managing funds with minimal human intervention. This, in turn, assists in targeting new clients, enhancing workflow, and adjusting custom online investments to achieve long-term financial goals or short-term investment strategies. At present, robo advisory is commercially available in varying service types, such as direct plan-based, goal-based, and comprehensive health advisory.
Robo Advisory Market Trends:
The widespread adoption of Robo Advisory across various industrial verticals, retail and high net worth individuals (HNIs) for performing algorithmic calculations to analyze data and deliver comprehensive information is majority driving the market toward growth. This is further supported by the shifting inclination of consumers toward robo advisory over traditional investments on account of its several beneficial properties, such as low-cost portfolio, tax-loss harvesting, secure investments, judgement based on real-time statistics, which, in turn, assists in eliminating the credit risks. In line with this, the increasing need for automating complex event processing has led to significant technological advancements, such as the large-scale integration of artificial intelligence (AI) and machine learning (ML) solutions, which is aiding in minimizing the errors caused by human interventions. This, in turn, is acting as another major growth-inducing factor. Additionally, the extensive utilization of robo advisory for executing online surveys to predict investor preferences, risks and goals, and acquire information regarding the financial status of the client, degree of risk-aversion, and desired return on investments is further contributing to the market growth. Apart from this, the rising popularity of smartphones, laptops, and tablets amongst millennials for accessing information and communicating is further creating a positive outlook for the market across the globe.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global robo advisory market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on business model, service type, provider and end user.Breakup by Business Model:
- Pure Robo Advisors
- Hybrid Robo Advisors
Breakup by Service Type:
- Direct Plan-Based/Goal-Based
- Comprehensive Wealth Advisory
Breakup by Provider:
- Fintech Robo Advisors
- Banks
- Traditional Wealth Managers
- Others
Breakup by End User:
- Retail Investor
- High Net Worth Individuals (HNIs)
Breakup by Region:
North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Betterment, Ellevest, Fincite Gmbh, Ginmon Vermögensverwaltung GmbH, SigFig Wealth Management LLC, SoFi Technologies Inc., The Charles Schwab Corporation, The Vanguard Group Inc., Wealthfront Corporation and Wealthify Limited (Aviva plc).Key Questions Answered in This Report
1. What was the size of the global robo advisory market in 2022?2. What is the expected growth rate of the global robo advisory market during 2023-2028?
3. What are the key factors driving the global robo advisory market?
4. What has been the impact of COVID-19 on the global robo advisory market?
5. What is the breakup of the global robo advisory market based on the business model?
6. What is the breakup of the global robo advisory market based on the service type?
7. What is the breakup of the global robo advisory market based on the provider?
8. What is the breakup of the global robo advisory market based on the end user?
9. What are the key regions in the global robo advisory market?
10. Who are the key players/companies in the global robo advisory market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Robo Advisory Market
6 Market Breakup by Business Model
7 Market Breakup by Service Type
8 Market Breakup by Provider
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Betterment
- Ellevest
- Fincite Gmbh
- Ginmon Vermögensverwaltung GmbH
- SigFig Wealth Management LLC
- SoFi Technologies Inc.
- The Charles Schwab Corporation
- The Vanguard Group Inc.
- Wealthfront Corporation
- Wealthify Limited (Aviva plc).
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | June 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 7.3 Billion |
| Forecasted Market Value ( USD | $ 35.6 Billion |
| Compound Annual Growth Rate | 30.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
