According to SPER Market Research, the Robo-Advisory Software Market is a big impact on the Robo advising sector. The efficiency of Robo-advisory is anticipated to rise with the development of technology in fields like advanced analytics, artificial intelligence, and natural language processing. As a result, robo-advisors will be able to improve their value offer and have a bigger impact on the entire value chain. For instance, US-based Robo advising company Unifimoney Inc. announced a partnership with Quantel AI Inc. to introduce AI-based robo-investment solutions as a part of the Unifimoney investing platform. These solutions will assess the risk profile and stated goals using Quantel's in-house AI engines and offer recommendations on the best portfolio to match the customer's objectives.
The COVID-19 pandemic is expected to significantly drive market growth during the forecast period. The pandemic has increased global demand for digital financing, robo advisors, financial planning solutions services, and investment management. Several companies have reported increased digital investment activity in the first quarter of 2020. For example, Interactive Investor, a U.K.-based broker firm, reported an Exclusively increase in the number of individual savings accounts opened on its platform in April 2020 compared to the previous year.
Robo-Advisory Software Market Overview:
- Forecast CAGR (2022-2032): 32.97%
- Forecast Market Size (2032): 7.0 billion
Impact of COVID-19 on the Global Robo-Advisory Software Market:
The COVID-19 pandemic is expected to considerably boost market expansion during the forecast period. The epidemic has increased demand for investment management, Robo advisers, digital finance, and financial planning services across international borders. In the first quarter of 2020, several companies have reported growing digital investment activity. For instance, a U.K.-based broker firm called Interactive Investor reported an exponential rise in the number of individual savings accounts established on its website in April 2020 compared to the prior year.
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Robo-Advisory Software Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2032. This report contains statistics on product type segment growth estimates and forecasts.
By Type:
- Hybrid Robo Advisors
- Pure Robo Advisors
By Provider:
- Banks
- Fintech Robo Advisors
- Traditional Wealth Managers
- Others
By Service Type:
- Direct Plan Based/Goal Based
- Comprehensive Wealth Advisory
By End-Use:
- Retail Investor
- High Net Worth Individuals
By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
North America dominated the market in previous year, accounting for more than quarter of the total. The presence of several prominent players, including Betterment.com, the Vanguard Group, Inc., and others, is expected to drive the growth of the US robo advisory market. For example, The Vanguard Group, Inc. announced the launch of robo-advice services. The service, according to the company, is intended to eliminate human intervention, thereby minimising errors and performing quick calculations.
Robo-Advisory Software Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Betterment; Fincite GmbH; Wealthfront Corporation; The Vanguard Group, Inc.; Charles Schwab & Co., Inc.; Ellevest; Ginmon Vermögensverwaltung GmbH; Wealthify Limited; Social Finance, Inc.; SigFig Wealth Management.
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Robo-Advisory Software Market Trends
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In a recent published report, Kenneth Research has updated the Market report for North America Robo-advisory Market for 2021 till 2030.
Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain.
In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market.
The North American robo-advisory market is anticipated to grow at an overall compound annual growth rate (CAGR) of 50.19% and will be worth of USD 34.05 Bn by 2023.The robo-advisory market in North America is anticipated to be majorly driven by the U.S. throughout the forecast period.
Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.“Final Report will add the analysis of the impact of COVID-19 on this industry.”Download Sample of This Strategic Report: –https://www.kennethresearch.com/sample-request-10009646Key growth factorsThe robo-advisory market is predicted to witness a high growth rate owing to the surge in affordability and accessibility with low financial assistance fee and rising internet penetration following advancement of technology.
Moreover, the robustness and transparency of algorithms and consumer disengagement of business models are also challenging the growth of the market worldwide.Some of the major players in the robo-advisory market are Betterment LLC, Wealthfront, Nutmeg, Personal Capital, The Vanguard Group, FutureAdvisor, etc.What is covered in the report?1.
