Global Robo Advisory Market Insights 2024, Forecast To 2033
23 Feb, 2024
The robo advisory market has witnessed exponential growth, surging from $41.63 billion in 2023 to $61.99 billion in 2024, with a 48.9% CAGR. Historical growth is linked to cost efficiency, finance democratization, and market awareness. The market is expected to see continued exponential growth, reaching $310.16 billion by 2028, driven by regulatory considerations, traditional service integration, global economic trends, and cybersecurity measures. Notable trends include customization, technological advancements, hybrid models, AI and machine learning, sustainable investing, and partnerships.
Global Robo Advisory Market Key Driver
The robo advisory market is growing in tandem with the digitalization of financial services. The Australian Banking Association reports a significant shift to digital banking, with 98.9% of interactions occurring digitally in June 2023. This digital integration in financial services is a key driver for the robo advisory market, showcasing the increasing reliance on technology to enhance customer experience and streamline financial processes.
Get A Free Sample Of The Global Robo Advisory Market ReportGlobal Robo Advisory Market Segments
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
By Geography: The regions covered in the template market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
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
Major Robo Advisory Industry Players
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
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Robo Advisory Market Overview
Robo-advisor refers to a type of automated financial advisor that provides algorithm-driven wealth management services with little to no human intervention. The robo advisory is engaged in providing financial advice in an online mode. Robo-advisors offer digital investment management services platforms with the help of automated, algorithm-driven financial planning services with very little to no human intervention. They use an online questionnaire to collect information from clients regarding their financial situation, degree of risk, and future goals, and then use the data to offer advice and automatically invest client assets.
Robo Advisory Global Market Report 2023 provides data on the global robo advisory market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The robo advisory market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.