What Has Been The Evolution of the Wealthtech Solutions Market in Recent Years?
The wealthtech solutions market has seen considerable growth due to a variety of factors.
• The wealthtech solutions market has grown rapidly in recent years. It will increase from $5.42 billion in 2024 to $6.24 billion in 2025, at a CAGR of 15.1%.
The growth is supported by the rise of online trading platforms, robo-advisors, the early adoption of mobile banking apps, the growth of mutual funds and ETFs, and the introduction of low-cost trading options.
How Will the Wealthtech Solutions Market?
The wealthtech solutions market is expected to maintain its strong growth trajectory in upcoming years.
• The wealthtech solutions market is projected to grow significantly in the coming years, reaching $10.82 billion by 2029 with a CAGR of 14.8%.
This growth is driven by the rising demand for digital financial services, improved customer service, enhanced cybersecurity, the popularity of digital wealth management platforms, and a growing interest in sustainable investing. Key trends include the increased use of AI and machine learning, blockchain technology integration, new wealthtech innovations, cloud computing adoption, and the rise of big data analytics.
Which Factors Are Boosting Growth In The Wealthtech Solutions Market?
The ascend in demand for digital financial services is set to fuel the expansion of the wealthtech solutions market in the future. Comprising a vast selection of financial services, digital financial services (DFS) are offered via digital platforms like mobile phones, the Internet, or other electronic mediums. Factors such as heightened customer expectations for individualized, efficient, and easily accessible wealth management services accelerated by technological progress stimulate the demand for digital financial services. Utilizing wealth tech solutions, digital financial services offer innovative and bespoke wealth management and investment services via digital platforms, thus augmenting accessibility and effectiveness for users. For instance, FedPayments Improvement, an American product of Federal Reserve Banks, stated in May 2024 that 62% of businesses embraced digital wallets and mobile apps in 2023, marking a significant rise from 47% in 2022. Therefore, the rising interest in digital financial services is catalyzing the expansion of the wealthtech solutions market.
What Key Areas Define The Segmentation Of The Global Wealthtech Solutions Market?
The wealthtech solutions market covered in this report is segmented –
1) By Components: Solution, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By End User: Banks, Investment Firms, Wealth Management Firms, Other End-Users
Subsegments:
1) By Solution: Wealth Management Software, Robo-Advisory Solutions, Investment Portfolio Management Tools, Financial Planning Tools, Risk Management Solutions
2) By Services: Consulting Services, Integration And Implementation Services, Training And Support Services, Managed Services
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What Trends Are Shaping The Wealthtech Solutions Market?
In the wealthtech solutions market, leading firms are concentrating on innovating portfolio-management software to give their company a competitive advantage. This software is utilized by financial institutions and wealth managers to efficiently manage and monitor their clients' investments. For instance, Bricknode, a wealthtech company based in Sweden, released a new portfolio management software named Investment Manager in July 2022. This new application gives investors the ability to monitor all their assets and liabilities from a single place, analyze their investment performances, and oversee their portfolios. It's specifically designed for small family offices and corporate investors, and provides a platform for investors to consolidate all their assets and liabilities, analyze outcomes, and streamline accounting processes.
Who Are the Key Players In The Wealthtech Solutions Market?
Major companies operating in the wealthtech solutions market are:
• JPMorgan Chase & Co.
• Bank of America
• Citigroup Inc.
• Wells Fargo & Company
• BNP Paribas
• Goldman Sachs
• Barclays PLC
• FMR LLC
• BlackRock Inc.
• State Street Global Advisors
• The Vanguard Group Inc.
• Lightspeed POS
• Paymentus Holdings Inc.
• Angel One Limited
• Verafin
• Wealthfront Corporation
• DriveWealth LLC
• Aixigo AG
• Valuefy
• Moxtra
• Trackinsight SAS
• WealthTechs Inc.
• Advisor Software (ASI)
• Bridge Financial Technology
What Is The Most Dominant Region In The Wealthtech Solutions Market?
North America was the largest region in the wealthtech solutions market in 2023. The regions covered in the wealthtech solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
