Robo Advisory Market Projected to Skyrocket to USD 41.83 Billion by 2030 with Noteworthy CAGR of 30.5%

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Mar 18, 2024, 20:00 ET

DUBLIN, March 18, 2024 /PRNewswire/ -- The "Robo Advisory Market Size, Share & Trends Analysis Report By Type (Pure Robo Advisor, Hybrid Robo Advisor), By Provider (Fintech Robo Advisor, Bank), By Service Type, By End-use, By Region, And Segment Forecasts, 2024 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global robo advisory market size is anticipated to reach USD 41.83 billion by 2030, registering a CAGR of 30.5% from 2024 to 2030. The growing use of smartphones coupled with the increased applications of chatbots on various investment and e-commerce platforms worldwide is anticipated to drive the demand for robo advisory during the projected period. In addition, the increasing awareness of digital investment consultation services is expected to drive market growth during the forecast period.

Robo-advisory includes algorithm and automated driven financial planning with little human involvement. Additionally, through an online survey, the robo-advisor gathers financial information from clients, such as their current financial position and future financial goals. Furthermore, using this information, robo advisors offer clients certain benefits such as quick account setup, portfolio management, and security features. Such factors are anticipated to drive the market in the near future.

Players in the robo advisory market are actively prioritizing technological advancements and forming strategic partnerships to broaden their product range, aiming to enhance the automated investment experience for their customers. Major market participants are securing funding to elevate their automated financial advisory services and improve overall customer experience.

Robo Advisory Market Report Highlights

Based on type, the hybrid robo advisors segment dominated the market in 2023. The growth of the segment is attributed to the rising demand for hybrid robo advisors from investors seeking low fees and user-friendly interfaces, alongside personalized advice and guidance typically provided by human advisors
Based on provider, the fintech robo advisor dominated the market in 2023 and is expected to grow at a significant CAGR during the forecast period. The growing demand for fintech robo advisors owing to its benefits such as tax harvesting, auto rebalancing, estate planning, retirement planning, and simplified insurance processing, among others is attributed to the segment's growth
Based on service type, the direct plan-based/goal- based segment dominated the market in 2023. The continuous innovations undertaken by market players to offer direct plan-based/goal-based robo advisors are driving the growth of the segment
Based on end-use, the high net worth individuals segment dominated the market in 2023. Robo advisory platforms provide financial advice to high-net-worth individuals who are seeking to gain maximum returns at lower processing fees

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Market Variables, Trends, and Scope
3.1. Market Introduction/Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Drivers Analysis
3.3.1.1. Increasing digitization of financial services
3.3.1.2. Shift in preference from traditional investment services to robo advisors
3.3.2. Market Challenge Analysis
3.3.2.1. Security risks and data privacy concerns
3.3.3. Market Opportunity Analysis
3.3.3.1. Technological advancements in robo advisory industry
3.4. Robo Advisory Market Analysis Tools

Chapter 4. Robo Advisory Market: Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Robo Advisory Market: Type Movement Analysis, USD Million, 2023 & 2030
4.3. Pure Robo Advisors
4.4. Hybrid Robo Advisors

Chapter 5. Robo Advisory Market: Provider Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Robo Advisory Market: Provider Movement Analysis, USD Million, 2023 & 2030
5.3. Fintech Robo Advisors
5.4. Banks
5.5. Traditional Wealth Managers
5.6. Others

Chapter 6. Robo Advisory Market: Service Type Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Robo Advisory Market: Service Type Movement Analysis, USD Million, 2023 & 2030
6.3. Direct Plan-based/Goal-based
6.4. Comprehensive Wealth Advisory

Chapter 7. Robo Advisory Market: End-use Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. Robo Advisory Market: End-use Movement Analysis, USD Million, 2023 & 2030
7.3. Retail Investor
7.4. High Net Worth Individuals

Chapter 8. Robo Advisory Market: Regional Estimates & Trend Analysis

Chapter 9. Competitive Landscape

Betterment
Fincite
Wealthfront
The Vanguard Group
The Charles Schwab
Ellevest, Inc.
Ginmon Vermogensverwaltung
Wealthify Limited
SoFi Technologies
SigFig Wealth Management

For more information about this report visit https://www.researchandmarkets.com/r/46vswn

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