Publisher Name : Business Intelligence Insights (BII) Publish Date : 2022-06-02
As per Business Intelligence Insights (BII) study, the global Wealth Management Software Market attained revenue growth of USD 3.5 billion in 2021 and it is projected to reach around USD 9.7 billion by 2030, growing at a 13.7% CAGR.
The increasing number of global High Net Worth Individuals (HNWIs), digitalization and process automation, and compliance with stringent industry regulations are expected to be the key growth drivers of the wealth management platform market. The word "Wealth Management" refers to financial planning and consulting service that offers financial planning, investment management, and other types of financial guidance. Clients that seek financial guidance from a financial specialist and normally incorporate all of the client's financial assets are typically supplied with asset management services targeted at boosting their wealth.
The market's expansion can be ascribed to the increasing implementation of cutting-edge technologies in wealth management advisory. Advances in financial technology, and, as a result, a whole new approach to automating and improving the delivery of financial services, are likely to contribute to market growth over the forecast period. As a result, the increasing usage of financial technology for wealth management bodes well for industry growth. The growing requirement to automate the wealth management process is expected to drive market expansion over the forecast period. Wealth management solutions can also assist HNWIs in more efficiently structuring their wealth management goals through the use of various analytical tools. Machine Learning (ML) and Artificial Intelligence (AI) capabilities are especially beneficial to financial advisers in terms of interpreting and zing massive amounts of data and developing better investment plans for their clients.
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• SS&C Technologies, Inc. (US)
• Fiserv, Inc. (US)
• Fidelity National Information Services (US)
• Profile Software (UK)
• Broadridge Financial Solutions, Inc. (US)
• InvestEdge, Inc. (US)
• Temenos Group AG (Switzerland)
• Finantix S.p.A. (Italy)
• SEI Investments Company (US)
• Comarch SA (Poland)
• Objectway S.p.A. (Italy)
• Dorsum Ltd. (Hungary)
• In 2021, the cloud segment led the market and accounted for more than 56.0 percent of worldwide sales. The segment is expected to grow at the fastest CAGR during the projection period, maintaining its lead. Several businesses around the world favor cloud-based solutions because of the numerous benefits they may provide, such as scalability, agility, and simple access to data, among others. The cloud platform's cost-effectiveness and scalability enable businesses to construct novel wealth management solutions more efficiently. Financial advice organizations around the world are also working on implementing cloud-based solutions to cut operating costs. Over the projected period, the on-premise category is expected to develop significantly.
• In 2021, the bank’s category led the market, accounting for more than 28.5 percent of total revenue. As the global economy progressively improves, banks are expected to play an important role in managing individuals' expanding assets and wealth. Additionally, banks are utilizing wealth management software to assure a client-centric strategy. Numerous wealth management software suppliers are working on offering end-to-end wealth management and processing solutions to meet banks' increasing needs, drive efficiency throughout banks' businesses, and assist banks in operating smoothly in global markets.
• North America dominated the market in 2021, accounting for more than 36.0 percent of total sales. The region's HNWI population is steadily increasing. These HNWIs are increasingly interested in advanced financial consulting services. Some of the major market participants are also based in North America. Another element boosting regional market growth is the increasing digitalization of the banking sector in various North American countries. Due to the increased acceptance of digital platforms, the region often provides potential growth opportunities for Robo advisers.
• The report contains qualitative and quantitative research on the global Wealth Management Software Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
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By Advisory Model
• Human advisory
• Robo advisory
By Business Function
• Financial advice management
• Portfolio, accounting, and trading management
• Performance management
• Risk and compliance management
• Others (billing and benchmarking)
By Deployment Model
By End-User Industry
• Investment management firms
• Trading and exchange firms
• Brokerage firms
• Others (asset management firms, and custody and compliance providers)
• North America
o Rest of Europe
• Asia Pacific
o Rest of Asia Pacific
• Latin America
o Rest of Latin America
• Middle East and Africa
o South Africa
o Rest of Middle East and Africa (MEA)
Ready to generate outstanding revenue opportunities with Business Intelligence Insights (BII)’ exclusive Wealth Management Software Market study. Highlights of the overall market will be included in the research, as well as frequently asked questions such as –
• What are the historical and projected revenue figures, as well as the CAGR, for the forecast period?
• What is the current trend taking place in the market space?
• What are the business techniques that will influence competitive scenarios as well as the market's growth potential?
• What market drivers, restraints, and challenges are influencing market demand and growth?
• In the approaching years, which regions and segments will generate significant revenue and emerge as industry leaders?
The Wealth Management Software Market report's competitive scenario examines, assesses, and positions firms based on a variety of performance characteristics. The financial performance of organizations over the last few years, growth plans, product innovations, new product launches, investments, market share growth, and so on are some of the elements analysed in this research. Don't wait any longer; take a comprehensive approach and achieve your business objectives with our Wealth Management Software Market Forecast Report 2022- 2030 - Order Now!
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