Robo Advisory Market Predicted to Gather a Revenue of $59,344.5 Million by 2028, Growing at a Healthy CAGR of 39.9% from 2021-2028 [228-Pages] | Confirmed by Research Dive
Robo advisory market is expected to grow by 2028 due to rising product advancements & wide adoption of automation. The HNI sub-segment is expected to be the most lucrative. Market in the Asia-Pacific region to witness massive growth opportunities.
NEW YORK, June 16, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, 'Robo Advisory Market by Business Model (Pure Robo Advisor and Hybrid Robo Advisor), End-use (Retail, Affluent, HNI, and UHNI), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028.'
According to the report, the global Robo advisory market is expected to generate a revenue of $59,344.5 million by 2028, growing at a CAGR of 39.9% during the forecast period 2021-2028.
Dynamics of the Robo Advisory Market
Drivers: Increasing product advancements and acquisitions by major market players and the wide adoption of digital technology and automation in the wealth management sector are the factors predicted to drive the global Robo advisory market growth by 2028.
Opportunities: Active adoption and preference for digital technology and automation in the financial advisory business is the main factor estimated to offer ample growth opportunities for the Robo advisory market by 2028. In addition, the speedy growth of AI-based application areas is anticipated to boost the market growth during the forecast period.
Restraints: The soaring initial cost of Robo advisors and the lack of expertise for developing Robo advisory competencies are the main factors projected to hamper the market growth.
Access an Exclusive PDF Sample of Robo Advisory Market (Including Tables, TOC, and Figures)
Covid-19 Impact on the Robo Advisory Market:
Although the onset of the Covid-19 pandemic has had a negative impact on most businesses, the global Robo advisory market has reportedly benefitted during the phase. People who earlier preferred visiting bank branches and talking to a human advisor are now opting for Robo ones because banks had to close their divisions due to government-led lockdowns and mobility restrictions. According to the report and several market findings, users on online wealth management platforms doubled during the pandemic. Moreover, increasing digital communication tools like video conference and chat functionality are predicted to further ease the communication between Robo advisors and customers. These factors have contributed to the enhancement of the global Robo advisory market amid the pandemic.
Segments of the Robo Advisory Market:
The report has divided the Robo advisory market into a few segments based on a business model, end-user, and region.
- By business model, the hybrid Robo advisory sub-segment is estimated to hold a dominant market share and register a revenue of $31,413.0 million by 2028. Hybrid model solutions are predicted to be the ideal alternatives for designing Robo advisory-based investment services. In addition, initiatives for offering simple services using automation and complex financial advice as personal services by prominent market players are increasing rapidly. These factors are anticipated to boost the sub-segment's growth during the forecast period.
- By end-use, the HNI sub-segment is projected to generate a revenue of $21,678.5 million by 2028. The rising population of high-net individuals (HNI) across the world and their increasing need for obtaining better business funding advice are the factors predicted to boost the growth of the sub-segment during the analysis timeframe.
- By region, the Robo advisory market in the Asia-Pacific region is expected to gather a revenue of $19,518.4 million by 2028. The region is the world's largest and fastest growing middle class in terms of total worth and consists of a relatively greater number of high-net-worth millennial entrepreneurs. In addition, the presence of prominent market players in the Asia-Pacific region makes it the most preferable one, as compared to the United States, to offer abundant market growth opportunities by 2028.
Request for Robo Advisory Market Research Report Customization and Avail Amazing Discount
Significant Robo Advisory Market Players:
The significant players of the Robo advisory market include
- The Vanguard Group, Inc.
- Charles Schwab Corporation
- T. Rowe Price
- FMR LLC.
- Betterment
- WEALTHFRONT CORPORATION
- Banco Santander S.A.
- Acorns
- Ellevest
- SigFig Wealth Management LLC. (Nvest, Inc.), and many more.
These prime organizations are working on creating strategies such as product enhancement, merger, and acquisition, partnerships, and collaborations to assist the market development. – Inquire here for the key Manufacturers Development Strategic Report
For instance, in December 2021, Singtel Dash, an all-in-one mobile wallet, announced its new digital Robo advisor, operated by UOB Asset Management, a leading Asian asset manager, that allows customers to manage their finances on their mobile phones. The Robo advisor is the first invention ever in Singapore to be integrated with a mobile wallet.
The report also sums up several essential aspects of the market including the financial performance of the prime players, SWOT analysis, product portfolio, and newest strategic enhancements.
More about Robo Advisory Market:
- Company Acquisitions and Business Expansion by Market Players such as Wealthfront, Vanguard Group, and Others to Foster the Growth of the Global Robo Advisory Market
- Robo advisory for tailor-made investment advice
Related Trending Article Links:
- The global AI in BFSI market size is predicted to garner a revenue of $84,337.5million in the 2021–2028 timeframe, growing from $21,067.8 million in 2020, at a healthy CAGR of 19.1%.
- The global insurtech market size is predicted to garner a revenue of $57,934.0 million in the 2021–2028 timeframe, growing from $7,841.0 million in 2020, at a healthy CAGR of 29.1%.
- The global security assurance market is estimated to surpass $9,101.6 million by 2027, exhibiting a CAGR of 10.2% from 2020 to 2027.
About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
Contact:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
+1-(917)-444-1262 (US)
Toll Free: 1-888-961-4454
E-mail: [email protected]
Website: https://www.researchdive.com
Blog: https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521
Logo: https://mma.prnewswire.com/media/997523/Research_Dive_Logo.jpg
SOURCE Research Dive
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article