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Robo Advisory Market Size, Share, Demand And Trends By 2033
Robo Advisory Market Size
As per the report, the robo advisory market size has grown exponentially in recent years. It will grow from $41.63 billion in 2023 to $61.99 billion in 2024 at a compound annual growth rate (CAGR) of 48.9%. The robo advisory market size is expected to see exponential growth in the next few years. It will grow to $310.16 billion in 2028 at a compound annual growth rate (CAGR) of 49.6%.
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Robo-Advisory Market Growth Fueled By Financial Services' Digital Evolution
The growing digitalization in financial services is contributing to the growth of the robo advisory market. In the financial industry, digital technologies such as artificial intelligence (AI), the cloud, blockchain, and fintech are making it easier to access funds and assisting the finance sector by using automated techniques to improve customer experience. For instance, in June 2023, according to the Australian Banking Association, an Australia-based trade group representing the Australian banking sector, Australians had firmly shifted to digital banking, with 98.9% of interactions happening digitally. So, rising digital integration in financial services is driving the market's growth.
Technological Innovations Fuel Advancements In Robo Advisory Market Case Of Flatexdegiro's Collaboration With Whitebox
Advancements in technology are significantly shaping the robo advisory market. With the advancement of technology in areas such as advanced analytics, artificial intelligence, and natural language processing, the effectiveness of robo-advisory is expected to increase. This will enable robo-advisors to strengthen the value proposition and have a greater impact across the value chain. For instance, in March 2022, flatexDEGIRO AG, a Germany-based online broker, announced that it had signed a Memorandum of Understanding (MoU) to expand its long-standing B2B cooperation with digital asset management Whitebox. FlatexDEGIRO and Whitebox are working together to provide FlatexDEGIRO customers with a completely digital investment solution, which is expected to launch at Flatex Germany in the summer of 2022. Whitebox is a US-based autonomous robo-adviser for retail investors.
The robo advisory market covered in this report is segmented -
1) By Service Type: Direct Plan-Based/Goal-Based, Comprehensive Wealth Advisory
2) By Provider: Fintech Robo Advisors, Banks, Traditional Wealth Managers, Other Providers
3) By Business Model: Pure Robo Advisors, Hybrid Robo Advisors
4) By End User: Healthcare, Education, Retail, Other End Users
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Major companies operating in the robo advisory market report are Betterment LLC, Charles Schwab & Co. Inc., Wealthfront Corporation, Personal Capital Corporation, Bambu Labs Inc., Blooom Inc., Ellevest Inc., FutureAdvisor Inc., Nutmeg Saving and Investment Limited, SigFig Wealth Management LLC, The Vanguard Group Inc., Social Finance Inc., Hedgeable Inc., WiseBanyan Inc., AssetBuilder Inc., Ally Financial Inc., Axos Invest Inc., Scalable Capital Limited, Moneyfarm Ltd., Acorns Grow Incorporated, United Income LLC, T. Rowe Price Associates Inc., Rebellion Research, Ginmon Vermogensverwaltung GmbH, Invesco Ltd., WisdomTree Investments Inc., Northern Trust Corporation, First Trust Advisors LP, VanEck Associates Corporation, ProShares Advisors LLC, Global X Management Company LLC, Direxion Investments
Contents of the report:
1. Executive Summary
2. Robo Advisory Market Report Structure
3. Robo Advisory Market Trends And Strategies
4. Robo Advisory Market - Macro Economic Scenario
5. Robo Advisory Market Size And Growth
…..
27. Robo Advisory Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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