WealthTech Solutions Market Expected to Reach $18.6 Billion by 2023 | Aixigo AG, BlackRock, Inc., BME inntech, InvestCloud, Inc

According to a new report published by Allied Market Research, titled, "WealthTech Solutions Market," The wealthtech solutions market was valued at $4.8 billion in 2021, and is estimated to reach $18.6 billion by 2031, growing at a CAGR of 14.8% from 2022 to 2031.

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WealthTech solution can assist business owners in overcoming the time between the creation of an invoice and the actual payment by the client. Moreover, WealthTech solution is an alternative form of financing that is available to businesses that may not have an established banking record with a major lender. In addition, using WealthTech tools allows for strategic estate planning, cash flow planning, smart tax planning, and legacy planning. The market for WealthTech solutions is expanding as a result of all these benefits.

Furthermore, major players in the Wealthtech solutions market are undertaking various strategies to increase the competition and offer enhanced services to their customers. For instance, In April 2021, Synechron Inc., a leading Digital IT Consulting firm for financial services, announced a strategic partnership with InvestSuite, the Belgium-based fintech company. Both companies have an exclusive focus on financial services and are helping banks, brokers, wealth managers and other financial institutions serve their clients better with modern digital investment solutions. Furthermore, both companies will further collaborate on innovative product R&D efforts via Synechron's award-winning Financial Innovation Labs and Accelerator Programs and jointly identify growth opportunities. Therefore, these factors are expected to provide a strategic advantage to the company. Therefore, these are the major WealthTech solutions market trends.

On the basis of end user, the wealth management firm segment is the highest growing segment for the WealthTech solutions market size. This is attributed to the fact that wealth management firms help in enhancing client's financial situation and achieving their financial goals and needs through providing a full range of financial products and services. WealthTech solutions are provided through financial leaders in their respective areas of expertise. Moreover, these firms enable to provide solutions covering direct equity, futures & options, portfolio management services across equity, debt and real estate.

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Based on region, North America attained the highest growth in 2021 for the WealthTech solutions market share. This is attributed to the fact that wealth management business in North America has increased with the development of new & innovative business operating models and hostile efforts by new competitors, to capture a share of the world's largest market for investment securities. Furthermore, banks and private firms, on the other hand, are increasingly demanding more from their wealth management advisors, resulting in a significant demand for cutting-edge financial advice which is tailored to their particular requirement.

COVID-19 had a negative impact on the market since, huge losses incurred by all the companies due to business interruptions in all the industry verticals because of nationwide lockdown by governments. As a result of this transition, the likelihood of credit loss and non-performing assets increased, while banks experienced unexpected asset liability management (ALM) model results. Furthermore, in the approaching years, it is anticipated that this aspect will present the WealthTech solutions industry with numerous, very lucrative prospects.

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Key findings of the study

By component, the solution segment led the WealthTech solutions market growth in terms of revenue in 2021.
By enterprise size, the large enterprises segment accounted for the highest WealthTech solutions market analysis in 2021.
By region, North America generated the highest revenue in 2021.
The report analyzes the profiles of key players operating in the WealthTech solution market such as 3rd eyes Anaytics, Aixigo AG, BlackRock, Inc., BME inntech, InvestCloud, Inc., InvestSuite, Synechron, Valuefy, Wealthfront Corporation. And WealthTechs Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the WealthTech solution market.

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