The “Robo Advisory Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global robo advisory market grew from $28.24 billion in 2022 to $41.52 billion in 2023 at a compound annual growth rate (CAGR) of 47.0%. The robo advisory market is expected to grow to $205.84 billion in 2027 at a CAGR of 49.2%.
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.
The main types of business models in robo-advisory are pure robo advisors and hybrid robo advisors. A pure robo advisor is a digital financial service that uses automated technology to help investors with financial solutions. A hybrid robo advisor is a service that typically combines human financial advisors with robo advisors with access to financial guidance or planning.
The providers of robo-advisory include fintech robo-advisors, banks, traditional wealth managers, and others. The types of services provided include direct plan-based/goal-based and comprehensive wealth advisory. The robo advisory services are used by healthcare providers, retail, education, and other end-users.
Advancements in technology are significantly shaping the robo advisory market. With the advancement of technology in areas such as advanced analytics, artificial intelligence, and natural language processing, the effectiveness of robo-advisory is expected to increase. This will enable robo-advisors to strengthen the value proposition and have a greater impact across the value chain.
In August 2022, Goldman Sachs, a US-based Investment banking company, acquired NextCapital Group for an undisclosed amount. This acquisition will help accelerate the expansion of Goldman Sachs’ services in the defined contribution (DC) retirement market through personalized managed accounts and digital advice solutions. NextCapital Group is a US-based robo-advisor company that provides financial plans for clients.
North America will be the largest region in the robo advisory market in 2022. 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, the Middle East, and Africa.
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.
Major players in the robo advisory market are
- Betterment LLC
- Charles Schwab & Co. Inc.
- Wealthfront Corporation
- Personal Capital Corporation
- Bambu
- Blooom Inc.
- Ellevest
- FutureAdvisor
- Nutmeg Saving and Investment Limited
- SigFig Wealth Management
- The Vanguard Group Inc.
- SoFi Wealth
- Hedgeable Inc.
- WiseBanyan Inc.
- AssetBuilder Inc.
- Ally Financial Inc.
- Wealthsimple
- Axos Invest Inc.
- Scalable Capital
- Moneyfarm
- Acorns
- United Income
- T. Rowe Price
- Rebellion Research
- WealthNavi
- TD Ameritrade
- Schwab Intelligent Portfolios
- Stash Invest
- Fincite
- Ginmon Vermogensverwaltung GmbH
- Social Finance Inc.
Key Topics Covered:
1. Executive Summary
2. Robo Advisory Market Characteristics
3. Robo Advisory Market Trends And Strategies
4. Robo Advisory Market – Macro Economic Scenario
4.1 COVID-19 Impact On Robo Advisory Market
4.2 Ukraine-Russia War Impact On Robo Advisory Market
4.3 Impact Of High Inflation On Robo Advisory Market
5. Robo Advisory Market Size And Growth
5.1. Global Robo Advisory Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Robo Advisory Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Robo Advisory Market Segmentation
6.1. Global Robo Advisory Market, Segmentation By Service Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Direct Plan-Based/Goal-Based
- Comprehensive Wealth Advisory
6.2. Global Robo Advisory Market, Segmentation By Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Fintech Robo Advisors
- Banks
- Traditional Wealth Managers
- Other Providers
6.3. Global Robo Advisory Market, Segmentation By Business Model, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Pure Robo Advisors
- Hybrid Robo Advisors
6.4. Global Robo Advisory Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Healthcare
- Education
- Retail
- Other End Users
7. Robo Advisory Market Regional And Country Analysis
7.1. Global Robo Advisory Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Robo Advisory Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/ssisz5
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