The robo advisory global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Robo Advisory Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The robo advisory market size has grown exponentially in recent years. It will grow from $41.63 billion in 2023 to $61.99 billion in 2024 at a compound annual growth rate (CAGR) of 48.9%. The growth in the historic period can be attributed to cost efficiency, democratization of finance, market awareness and acceptance.
The robo advisory market size is expected to see exponential growth in the next few years. It will grow to $310.16 billion in 2028 at a compound annual growth rate (CAGR) of 49.6%. The growth in the forecast period can be attributed to regulatory environment, integration with traditional services, global economic trends, cybersecurity measures. Major trends in the forecast period include customization and personalization, technological advancements, hybrid models, ai and machine learning advances, sustainable and esg investing, crypto and alternative investments, partnerships and collaborations.
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Scope Of Robo Advisory Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The growing digitalization in financial services is contributing to the growth of the robo advisory market. In the financial industry, digital technologies such as artificial intelligence (AI), the cloud, blockchain, and fintech are making it easier to access funds and assisting the finance sector by using automated techniques to improve customer experience. For instance, in June 2023, according to the Australian Banking Association, an Australia-based trade group representing the Australian banking sector, Australians had firmly shifted to digital banking, with 98.9% of interactions happening digitally. So, rising digital integration in financial services is driving the market’s growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The robo advisory market covered in this report is segmented –
1) By Service Type: Direct Plan-Based/Goal-Based, Comprehensive Wealth Advisory
2) By Provider: Fintech Robo Advisors, Banks, Traditional Wealth Managers, Other Providers
3) By Business Model: Pure Robo Advisors, Hybrid Robo Advisors
4) By End User: Healthcare, Education, Retail, Other End Users
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Regional Insights –
North America will be the largest region in the robo advisory market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the robo advisory market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the robo advisory market report are Betterment LLC, Charles Schwab & Co. Inc., Wealthfront Corporation, Personal Capital Corporation, Bambu Labs Inc., Blooom Inc., Ellevest Inc., FutureAdvisor Inc., Nutmeg Saving and Investment Limited, SigFig Wealth Management LLC, The Vanguard Group Inc., Social Finance Inc., Hedgeable Inc., WiseBanyan Inc., AssetBuilder Inc., Ally Financial Inc., Axos Invest Inc., Scalable Capital Limited, Moneyfarm Ltd., Acorns Grow Incorporated, United Income LLC, T. Rowe Price Associates Inc., Rebellion Research, Ginmon Vermogensverwaltung GmbH, Invesco Ltd., WisdomTree Investments Inc., Northern Trust Corporation, First Trust Advisors LP, VanEck Associates Corporation, ProShares Advisors LLC, Global X Management Company LLC, Direxion Investments
Table of Contents
1. Executive Summary
2. Robo Advisory Market characterstics
3. Robo Advisory Market Trends And Strategies
4. Robo Advisory Market – Macro Economic Scenario
5. Global Robo Advisory Market Size And Growth
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31. Global Robo Advisory Market Competitive Benchmarking
32. Global Robo Advisory Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Robo Advisory Market
34. Robo Advisory Market Future Outlook and Potential Analysis
35. Appendix
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