WealthTech Solution Market Latest Industry Trends, Statistics, Competition Strategies and Latest Industry Share by 2028, The Insight Partners

According to our latest market study on "WealthTech Solution Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, End User, Organization Size, and Deployment Mode," the market is expected to grow from US$ 54.62 million in 2021 to US$ 137.44 million by 2028; it is estimated to grow at a CAGR of 14.1% from 2021 to 2028. Based on component, the wealthtech solution market is bifurcated into solution and services. In 2020, the solution segment led the market, accounting for a larger share in the market. By end user, the wealthtech solution market is segmented into banks, wealth management firms, and others. In 2020, the wealth management firms segment accounted for the largest market share. Based on organization size, the wealthtech solution market is bifurcated into large enterprises and small and medium-sized enterprises.

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Organizations use financial analytics tools to gain insights into key present and future trends for improving their business performance. Financial analytics services include financial data quality analysis and data layout, client analytics, predictive analytics, principal component analysis, and financial data collection. These analytics require thorough financial and other relevant data to identify patterns; based on these predictions, enterprises may make predictions regarding what their customers would buy, how long their employees' tenures might be, and so on. Thus, financial analytics services help organizations improve the profitability, cash flow, and business value. They may use the insights gained through these analytics to improve their revenues and business processes.

The Key Players In The Global WealthTech Solution Market Are:

•FinMason, Inc.
•aixigo AG
•InvestCloud, Inc.
•WealthTechs Inc.
•Valuefy Solutions Private Limited
•3rd-eyes analytics AG
•BlackRock, Inc.
•Synechron
•Wealthfront Inc.
•InvestSuite

Impact of COVID-19 Pandemic on WealthTech Solution Market

According to latest situation report from the World Health Organization (WHO), the US, India, Spain, Austria, France, Germany, the UK, Switzerland, Turkey, Brazil, Iran, and China are among the worst affected countries due to the COVID-19 outbreak. The outbreak crisis is affecting the industries worldwide and the global economy witnessed worst hit in 2020 and it is continued in 2021 also. The outbreak has created significant disruptions in primary industries, such as food & beverage, medical, energy & power, electronics & semiconductor, petroleum, and chemicals. A sharp decline in the growth of mentioned industrial activities is impacting the growth of the global Wealthtech solution market as they are the major supply and demand sources for wealthtech solution products and solutions.

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The Segments and Sub-Section of WealthTech Solution Market are shown below:

By Component (Solution and Services)

End User (Banks, Wealth Management Firms, and Others)

Deployment Mode (Cloud-Based and On-Premises) Geography

Artificial intelligence (AI) is helping the financial industry to streamline and optimize different processes, ranging from credit decisions to quantitative trading and financial risk management. The AI solutions facilitate more accurate assessment of traditionally underserved borrowers, such as millennials, in the credit decision-making process, thereby helping banks and credit lenders in making smarter underwriting decisions. Further, the use of AI helps smoothen and automate the financing process in several banks, investment firms, and wealth management firms. aixigo AG uses AI-based wealthtech solutions for providing digital transformation, private banking, retail banking, robo advisor, and asset management services. The robo advisor software of aixigo AG uses AI as a replacement of human component at the point-of-sale during the financial investment process. Similarly, Synechron Inc. provides an AI-based solution named Neo for the financial services industry. Neo uniquely brings together Synechron's digital, business, and technology consulting to guide financial institutions through the deployment of AI solutions to solve complex business challenges. Therefore, the growing popularity of AI-based assistance in banks, investment firms, and wealth management firms is driving the WealthTech solutions market growth.

Answers that the report acknowledges:

•Market size and growth rate during forecast period.
•Key factors driving the WealthTech Solution Market.
•Key market trends cracking up the growth of the WealthTech Solution Market.
•Challenges to market growth.
•Key vendors of WealthTech Solution Market.
•Detailed SWOT analysis.
•Opportunities and threats faces by the existing vendors in Global WealthTech Solution Market.
•Trending factors influencing the market in the geographical regions.
•Strategic initiatives focusing the leading vendors.
•PEST analysis of the market in the five major regions.

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This release was published on openPR.