wealth-management-software-market

Wealth Management Software Market By Advisory Mode (Human Advisory, Robo-advisory, and Hybrid), By Functionality (Financial Advice Management, Portfolio, Accounting & Trading Management, Performance Management, Risk & Compliance Management, Reporting and Others ), By Deployment Model (On-premise and Cloud), By End-user (Banks, Investment Management Firms, Trading & Exchange Firms, Brokerage Firms, and Others) - Growth, Future Prospects and Competitive Landscape, 2024 – 2032

22 May 2019 Format PDF icon PPT icon XLS icon Request Sample

Overview:                      

The global wealth management software market was valued at US$ 2.20 Bn in 2020 and is expected to witness significant growth, expanding at a CAGR of 12.3% during the forecast period from 2023 to 2030. Wealth management is changing at a rapid pace. Numerous forces from ever-changing client expectations and advanced technologies to rise of disruptive operational models and the market encroachment of eccentric foes are restructuring the playing field. Wealth management is one of the most attractive sectors within the financial services industry. Emerging digitization coupled with rising adoption of automation processes by several financial establishments is one of the prominent factor expected to stimulate the growth of wealth management software worldwide. Digitalization has been growing in prevalence and is fueling the efficiency and agility in wealth management practices, which in turn is enhancing market growth.

Wealth management software serves as an advisory tool that ensures compliance with the regional as well as international regulatory requirements, capture investment opportunities and helps in tracking the market. These capabilities are projected to drive the demand of wealth management software, thereby increasing the overall market growth throughout the forecast period from 2023 to 2030.

"Hybrid Advisory Model Likely to Gain Traction in the Market during the Forecast Period from 2023 to 2030"

In 2020, robo-advisory mode garnered largest market share in the global wealth management software market. The segment is likely to grow to at a substantial rate during the forecast period from 2023 to 2030. Robo-advisors are online financial advisory software platforms that deliver algorithm-based wealth management services. This advisory mode eliminates the necessity to use a human financial advisor and provides clients with direct software-based access to the portfolios. Robo-advisors provide several benefits, including a suite of automated capabilities, an easier onboarding process and minimal investment requirements in comparison to the traditional counterparts. Moreover, in terms of performance and accessibility, robo-advisors are highly efficient, accurate and more accessible. Nevertheless, despite of the popularity of fully automated robo-advisory mode, their initial appeal have started to wear-off. The financial industry is already witnessing a move towards espousing a hybrid model that includes a certain amount of human intervention. Typically, a hybrid advisory mode involves an automated solution that provides periodic access to human advisors or in which human financial advisors add robo-advisors to their solutions, thereby providing some of the advantages that a robo-advisor and human advisor have over each other.

"North America Garnered Largest Market Share in 2021"

The global wealth management software market, based on geography was led by North America in 2021 and is likely to remain dominant throughout the forecast period from 2023 to 2030. The growth of this mainly attributed to the growing number of high-net-worth (HNW) individuals. These HNW individuals are increasingly subscribing to the advanced financial advisory solutions, thereby driving the market growth in the region. Moreover, the presence of some prominent players including Fidelity National Information Services, Inc., Fiserv, Inc., SEI Investments Company, and SS&C Technologies, Inc. etc. supports the market growth and is expected to provide lucrative opportunities for the growth of wealth management software market in the region.

Competitive Insights:

The major players identified in the wealth management software market include Comarch SA, Dorsum Ltd., Fidelity National Information Services, Inc. (FIS), Finantix S.p.A., Fiserv, Inc. Objectway S.p.A., Profile Software, SEI Investments Company, SS&C Technologies, Inc., and Temenos SA among others. Wealth management software providers are continuously developing and updating their software offerings in order to cater the rising needs of the customers and gain competitive advantage over other players. Partnerships, product innovation and new product development remains some of the major strategies adopted by the leading players to have an edge over their counterparts.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Wealth Management Software market are as follows:

  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Wealth Management Software market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

ATTRIBUTE DETAILS
Research Period  2022-2032
Base Year 2023
Forecast Period  2024-2032
Historical Year  2022
Unit  USD Million
Segmentation
Advisory Mode
  • Human Advisory
  • Robo-advisory
  • Hybrid

Functionality
  • Financial Advice Management
  • Portfolio, Accounting, & Trading Management
  • Performance Management
  • Risk & Compliance Management
  • Reporting
  • Others (Client and Fund Management, Billing and Benchmarking, etc.)

Deployment Model
  • On-premise
  • Cloud

End-user
  • Banks
  • Investment Management Firms
  • Trading & Exchange Firms
  • Brokerage Firms
  • Others

 Region Segment (2022-2032; US$ Million)

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • UK and European Union
    • UK
    • Germany
    • Spain
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Wealth Management Software market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2032.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Wealth Management Software market?
  • Which is the largest regional market for Wealth Management Software market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Wealth Management Software market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Wealth Management Software market worldwide?
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