The adoption of the wealth management platform market is expected to record a CAGR of 10.0% during the forecast period. The wealth management platform market size is anticipated to rise from USD 3.3 billion in 2023 to USD 8.56 billion in 2033.
Various Factors Propelling Wealth Management Platform Market are:
The adoption of DevOps and rising influence of technologies around consumer approach are expected to fuel the market growth.
| Attribute | Details |
|---|---|
| Wealth Management Platforms Market Estimated Size (2023) | USD 3.3 billion |
| Wealth Management Platforms Market CAGR (2023 to 2033) | 10.0% |
| Wealth Management Platforms Market Forecasted Size (2033) | USD 8.56 billion |
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In contrast to the 13.2% CAGR observed between 2017 and 2022, the demand for the wealth management platforms market is anticipated to register a 10.0% CAGR between 2023 and 2033. In line with corporate policies, the market is seeing the adoption of digitalization and process automation, both of which promise to be profitable.
Many businesses are seeking to hasten digitization, increase operational effectiveness, and strengthen client relationships. As a result, several end-use sectors are likely to speed up the adoption of financial consulting and management solutions.
Wealth management tools are assisting companies to track transactions and manage their assets more effectively. Advancements in AI and Blockchain holds the potential to expand the market during forecasting period. The artificial intelligence system monitors the customer's spending and makes relevant recommendations. The blockchain and AI track client spending patterns, keep track of trends and make estimates based on data.
Interventions of AI Technologies are Stimulating Market Growth
The incorporation of AI is expanding across all industries. Strategically, businesses have emphasized AI in their initiatives to transform business. The idea of wealth management artificial intelligence is revolutionary in terms of AI technology for software and application development.
The platform attracts investment from many businesses due to its wide application and potential advantages. Businesses can profit from improved data analytics, user experience, cost savings, quick development, and more. As a result, it is projected that the market for wealth management may continue to increase due to the growing trend of low-code AI.
Current Trend
Improved Financial Firm Experience is Essential to Meet Growing Demand for Wealth Management Platforms
The main goal of financial firms is to enhance the client experience by providing integrated solutions through unified platforms. To offer a next-generation banking and financial experience, banks have started replacing conventional, internal core banking systems.
Increased client trust in banks results in more robust engagement and great investment willingness thanks to wealth management platforms. As long as administrative and operational costs are kept to a minimum, the platform should be able to accommodate the rising demand for advisory services while improving effectiveness and efficiency across the advisory network. Several banks have introduced wealth management solutions.
Key Restraints
Principal Consultant
Based on the Advisory Mode, a strong CAGR of 15.00% is predicted for the Robo advisory segment during the projected period. When compared to other ways, robo advisors are more accessible and reliable.
Robo advisers have several advantages, including a considerably simpler onboarding procedure, a low investment threshold, and a variety of automated features. Customers can access the portfolio of business services directly through the software.
In 2022, the human advice segment of the market for wealth management platforms retained a revenue share of over 60%. High-net-worth individuals (HNWIs) are moving away from automated wealth management systems and towards human advisory services due to growing security concerns in the sector.
This advisory model uses specialized data analysis technologies that take into account the customers' diverse financial backgrounds and provide outcomes after being analyzed.
Between 2023 and 2033, the cloud segment is expected to grow at a rate of over 15% for deployment. Financial services firms are increasingly adopting cloud-based wealth management solutions. It offers a less complicated setup, the flexibility required for remote work, and less infrastructure investment.
Wealth management experts may operate from any device and OS thanks to cloud computing. Cloud platforms enable businesses to develop cutting-edge wealth management solutions since they are scalable and cost-effective.
Through 2033, the risk & compliance management applications segment's wealth management platform market is likely to expand at a CAGR of 10%.
There is huge need for good ways to manage risk in the business sector. This might involve combining things like how a business operates, its IT systems, following rules, considering environmental and social impact, and using outside companies. The installation of Know Your Customer (KYC), Know Your Product (KYP), and anti-fraud and anti-money laundering (AML) compliance procedures are anticipated.
North America contributed USD 1.0 billion to the global market in 2022. In North America, the importance of wealth management services is rising as retailers look to draw in and retain successful customers. For instance, a sizeable portion of the net income of retail banks in the region comes from wealthy mass consumers.
Numerous diversified financial service companies in the area are expanding their wealth management operations. Moreover, the market is expanding due to the presence of leading players in the country.
With a CAGR of 8.4%, the Asia Pacific wealth management platform market demand is predicted to increase at a significant rate during the projected period and reach USD 289.22 billion by 2028.
Asia Pacific regional market is anticipated to expand at a prominent rate due to the increased usage of digital platforms in the region and prospects for private wealth management are expected to develop. Technologically knowledgeable customers can use robo advising solutions to effectively meet their investing needs by combining creative data and cutting-edge algorithms.
Additionally, the region's surging small and medium-sized businesses are expected to assist wealth management software companies in developing nations like China and India.
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Wealthy, a wealth management platform, announced a USD 7.5 million funding round led by Alpha Wave Incubation on Wednesday (AWI). AWI is managed by Alpha Wave Global and is backed by Abu Dhabi investment vehicle ADQ's venture platform (formerly Falcon Edge Capital).
The Savrola Group joined the round as a new investor, joining existing backers Venture Highway, Good Capital, and Emphasis Ventures.
Wealthy may use the funds to expand globally, including in the Middle East, according to a statement issued by the Bengaluru-based company.
The core businesses involved in the sector are frequently observed utilizing a variety of tactics to strengthen their position as market leaders. Among many potential options, businesses are actively utilizing measures like buying rival businesses to boost brand value among customers. Another essential tactic is routinely releasing ground-breaking items after doing a thorough analysis of the market and its users.
Latest Developments
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 10.0% from 2022 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | Advisory Mode, Application, End User, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | SS & C Technologies, Inc.; Fiserv Inc.; FIS; Profile Software; Broadridge Financial Solutions, Inc.; InvestEdge, Inc.; Temenos Headquarters SA; InvestCloud; SEI Investments Company; Comarch SA; Dorsum Limited; Avaloq Group AG |
| Customization & Pricing | Available upon Request |
Growing demand for digital wealth management, a rising number of high-net-worth individuals, and increasing adoption of robo-advisors.
Security, compliance, and data privacy.
There are two main types of wealth management platforms: on-premise and cloud-based.
The key players in the wealth management platform market are Avaloq, FIS, Temenos, Prometeia, Backbase, and Tata Consultancy Services.
The trends in the wealth management platform market include the increasing adoption of cloud-based platforms, the integration of artificial intelligence and machine learning, and the focus on personalization.
1. Executive Summary | Wealth Management Platform Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Deployment Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment Type, 2023 to 2033
5.3.1. On-premise
5.3.2. Cloud
5.4. Y-o-Y Growth Trend Analysis By Deployment Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Deployment Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-user Industry
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By End-user Industry, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-user Industry, 2023 to 2033
6.3.1. Banks
6.3.2. Trading Firms
6.3.3. Brokerage Firms
6.3.4. Investment Management Firms
6.3.5. Other End Users
6.4. Y-o-Y Growth Trend Analysis By End-user Industry, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End-user Industry, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Deployment Type
8.2.3. By End-user Industry
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Deployment Type
8.3.3. By End-user Industry
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Deployment Type
9.2.3. By End-user Industry
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Deployment Type
9.3.3. By End-user Industry
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. United Kingdom
10.2.1.2. Spain
10.2.1.3. Germany
10.2.1.4. Italy
10.2.1.5. France
10.2.1.6. Rest of Europe
10.2.2. By Deployment Type
10.2.3. By End-user Industry
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Deployment Type
10.3.3. By End-user Industry
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. India
11.2.1.2. China
11.2.1.3. Japan
11.2.1.4. Australia
11.2.1.5. Rest of Asia Pacific
11.2.2. By Deployment Type
11.2.3. By End-user Industry
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Deployment Type
11.3.3. By End-user Industry
11.4. Key Takeaways
12. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. South Africa
12.2.1.2. GCC Countries
12.2.1.3. Rest of Middle East and Africa
12.2.2. By Deployment Type
12.2.3. By End-user Industry
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Deployment Type
12.3.3. By End-user Industry
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. USA
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2022
13.1.2.1. By Deployment Type
13.1.2.2. By End-user Industry
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2022
13.2.2.1. By Deployment Type
13.2.2.2. By End-user Industry
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2022
13.3.2.1. By Deployment Type
13.3.2.2. By End-user Industry
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2022
13.4.2.1. By Deployment Type
13.4.2.2. By End-user Industry
13.5. United Kingdom
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2022
13.5.2.1. By Deployment Type
13.5.2.2. By End-user Industry
13.6. Spain
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2022
13.6.2.1. By Deployment Type
13.6.2.2. By End-user Industry
13.7. Germany
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2022
13.7.2.1. By Deployment Type
13.7.2.2. By End-user Industry
13.8. Italy
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2022
13.8.2.1. By Deployment Type
13.8.2.2. By End-user Industry
13.9. France
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2022
13.9.2.1. By Deployment Type
13.9.2.2. By End-user Industry
13.10. India
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2022
13.10.2.1. By Deployment Type
13.10.2.2. By End-user Industry
13.11. China
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2022
13.11.2.1. By Deployment Type
13.11.2.2. By End-user Industry
13.12. Japan
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2022
13.12.2.1. By Deployment Type
13.12.2.2. By End-user Industry
13.13. Australia & New Zealand
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2022
13.13.2.1. By Deployment Type
13.13.2.2. By End-user Industry
13.14. South Africa
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2022
13.14.2.1. By Deployment Type
13.14.2.2. By End-user Industry
13.15. GCC Countries
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2022
13.15.2.1. By Deployment Type
13.15.2.2. By End-user Industry
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Deployment Type
14.3.3. By End-user Industry
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Avaloq Group AG
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Fidelity National Information Services Inc.
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. Temenos Headquarters SA
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. Prometeia SpA
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. Backbase Inc.
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. Tata Consultancy Services Limited
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. Fiserv Inc.
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. InvestCloud Inc.
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. EdgeVerve Systems Limited
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. CREALOGIX AG
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
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Wealth Management Platform Market
