How Has The Financial Planning Software Market Size Evolved In Recent Years?
The financial planning software market has seen considerable growth due to a variety of factors.
• In recent years, there has been a significant proliferation in the size of the financial planning software market. The market, which was valued at $4.91 billion in 2024, is predicted to bolster to $5.74 billion in 2025, representing a compound annual growth rate (CAGR) of 16.8%. Factors that have contributed to the growth in the historic period include demographic changes, globalization of markets, concerns about data security, transitions in consumer behavior, integration with other systems, and market volatility.
What Does Future Hold for The Financial Planning Software Market Size Evolve over the Forecast Period?
The Financial Planning Software market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for financial planning software is projected to experience a swift expansion in the upcoming years, reaching a worth of $10.92 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 17.5%.
Various factors such as economic resurgence, initiatives for financial education, ESG investment focus, subscription-oriented models, robust cybersecurity controls, and regulation compliance solutions are anticipated to drive this growth during the forecast timeline. Notable emerging trends comprise of the incorporation of AI and machine learning, robo-advisers, incorporation of blockchain technology, partnerships with fintech startups, adoption of cloud-based software, and implementation of user-friendly interfaces.
What Are The Primary Growth Drivers In The Financial Planning Software Market?
The global proliferation of mobile apps is anticipated to fuel the expansion of the financial planning software market. Mobile applications are specifically designed for use on portable devices like smartphones and tablets. Numerous financial planning applications available on the market help investors monitor their income and spending, establish budgets, and perform other tasks. This facilitates professionals to manage client assets and conduct informed research. Therefore, the rise in mobile apps worldwide is predicted to stimulate market growth. For example, in November 2023, the Ericsson Mobility Report issued by Telefonaktiebolaget LM Ericsson, a Swedish networking and telecommunication products and services provider, predicted an estimated 610 million new 5G subscriptions for 2023. This represents a 63% increase from 2022, boosting the worldwide total to 1.6 billion, which exceeds previous forecasts by 100 million. Consequently, the global increase in mobile applications is contributing to the growth of the financial planning software market.
What Is The Segmentation Of The Global Financial Planning Software Market?
The financial planning software market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Mode: On-Premises, Cloud
3) By Application: Financial Advice And Management, Portfolio, Accounting And Trading Management, Wealth Management, Personal Banking, Other Applications
4) By End-Uses: Small And Medium-Sized Enterprises (SMEs), Large Enterprises, Individual Purpose, Other End-Uses
Subsegments:
1) By Solution: Budgeting And Forecasting Tools, Investment Planning Software, Financial Reporting Solutions, Risk Management Solutions
2) By Services: Implementation Services, Consulting Services, Support And Maintenance Services
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What Emerging Trends Are Shaping The Financial Planning Software Market Landscape?
The emergence of technological innovation as a major trend is reshaping the financial planning software industry. To maintain their market dominance, leading corporations in this sector are implementing cutting-edge technologies like AI. An example of this is the Canada-based fintech firm Conquest, which introduced 'Conquest Planning' in May 2022. This financial planning software was developed in collaboration with Fidelity International, an American financial services corporation. By utilizing data and Artificial Intelligence (AI), Conquest Planning provides advisors with deeper insights into their clients' evolving financial situations. This allows them to create proposals in real time and quickly gauge the impact of financial conditions on their clients' objectives. The advanced technology processes data in numerous ways, instantly forming and comparing multiple plans, freeing up advisors to focus more on their customer engagement.
Who Are the Key Players In The Financial Planning Software Market?
Major companies operating in the financial planning software market include:
• PIEtech Inc.
• eMoney Advisor LLC
• Advicent Solutions
• Moneytree Software
• WealthTec LLC
• Advisor Software
• Envestnet Inc.
• InStream LLC
• Advizr Inc.
• RightCapital Inc.
• Razor Logic Systems
• Futurewise Technologies Private Limited.
• ESPlanner Inc.
• iSoftware Limited
• Cheshire Software Inc.
• Miles Software
• Orion Advisor Technology
• Personal Capital Corporation
• Quicken Inc.
• SAP SE
• Oltis Software
• WealthTrace
• Moneywise Software
• Sigma Conso
• GetRealList
• Wealth Access
What Are The Regional Insights Into The Financial Planning Software Market?
North America was the largest region in the financial planning software market in 2024. The regions covered in the financial planning software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
