Press release
Comprehensive Smart Advisor Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034
Smart Advisor
The smart advisor market is set for growth, propelled by the increased adoption of cloud computing and Software as a Service (SaaS) platforms. Cloud computing enables shared access to computing resources over the internet on demand, while SaaS platforms deliver software applications through the cloud on a subscription basis. There's a growing demand across industries for IT infrastructure which is scalable, cost-effective, and flexible, driving the expansion of both cloud computing and SaaS platforms. The smart advisor enhances these platforms by providing intelligent, data-driven insights to optimize performance, boost scalability, and increase user engagement. As an example, in December 2023, Eurostat, an intergovernmental organization based in Europe, reported that 45.2% of EU enterprises took up cloud computing services, a rise of 4.2 percentage points from 2021. As such, the growth of the smart advisor market is being fueled by this expansion of cloud computing and SaaS platforms.
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What Is the projected market size and growth rate for the smart advisor market?
The market size for smart advisors has experienced significant growth in recent years. The projections show it increasing from $5.59 billion in 2024 to $6.73 billion in 2025, indicating a compound annual growth rate (CAGR) of 20.4%. Factors contributing to this growth during the historic period include the escalating use of artificial intelligence, the advancement of machine learning algorithms, the widespread use of chatbots, the expansion of voice assistants, the emergence of personalized customer experiences, and the growing trend of mobile-first solutions.
Anticipations indicate a surge in the size of the smart advisor market in the forthcoming years, escalating to approximately $14.01 billion in 2029 with a 20.1% CAGR. The predicted upswing during this period can be linked to several factors such as the surging demand for automated customer service, amplified investments in AI-centric technologies, escalating use of virtual assistants in the healthcare sector, broadening smart home integration, an intensifying requirement for customer support solutions available 24/7, and the growing utilization of predictive analytics. Notable trends projected during this timeframe encompass the merging of AI with augmented reality (AR) and virtual reality (VR), the broadening scope of AI-based voice commerce, the adoption of AI-instigated smart advisors in small and medium enterprises (SMEs), the fusion of AI smart advisors with wearable tech, and the cultivation of AI smart advisors designated for elderly care.
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What new trends are reshaping the smart advisor market and its opportunities?
Top-tier organizations in the smart advisor market are prioritizing the amalgamation of artificial intelligence and machine learning technologies, such as AI-based financial advisors, with a view to offer customized financial guidance aimed at bettering decision-making and boosting client portfolios. These AI-fortified financial advisors offer specialized investment advice and financial planning solutions, thereby improving client interactions and enhancing portfolio performance through intricate data analysis and automation. For instance, in July 2024, Mool.ai, a fin-tech company hailing from India, introduced Birbal, which is an AI-oriented financial advisor delivering personalized financial advice using generative AI, customizing counsel to fit the individual financial conditions of each user. Birbal simplifies expense monitoring by unifying multiple bank accounts, which facilitates users in effectively keeping an eye on their expenditure patterns. Birbal provides the advantage of zero-commission investing, allowing for uncomplicated investments in hand-picked portfolios sans any fees.
What major market segments define the scope and growth of the smart advisor market?
The smart advisor market covered in this report is segmented -
1) By Component: Software, Services
2) By Application: Websites, Social Media, Mobile Platform, Contact Centers
3) By End Use Industry: Banking, Financial Services, and Insurance (BFSI), Healthcare, Retail And E Commerce, Consumer Electronics, Education, Government, Hospitality, Other End User Industries
Subsegments:
1) By Software: AI-Based Smart Advisor Software, Virtual Assistant Software, Chatbot Software, Predictive Analytics Software
2) By Services: Smart Advisor Implementation Services, Smart Advisor Maintenance And Support Services, Smart Advisor Consulting Services, Integration Services
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Which region dominates the smart advisor market?
North America was the largest region in the smart advisor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the smart advisor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the smart advisor industry growth?
Major companies operating in the smart advisor market are Microsoft Corporation, accenture* plc, International Business Machines Corporation, SAP SE, Salesforce.com Inc., Amazon Web Services Inc., Broadridge Financial Solutions Inc., Hexagon AB, Genesys Telecommunications Laboratories Inc., Pega Systems Inc., Verint Systems Inc., Inbenta Technologies Inc., Kore.ai Inc., Gupshup Technologies India Pvt. Ltd., 24/7 Customer Inc., Ada Support Inc., LivePerson Inc., Creative Virtual Pvt. Ltd., Tidio LLC, Haptik AI, eGain Corporation, Rasa Technologies Inc., Netformx Inc., Solvvy Inc.
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What Is Covered In The Smart Advisor Global Market Report?
•Market Size Forecast: Examine the smart advisor market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the smart advisor market for a structured understanding.
•Key Players Overview: Analyze major players in the smart advisor market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the smart advisor market.
•Segment Contributions: Evaluate how different segments drive overall growth in the smart advisor market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the smart advisor market.
•Industry Challenges: Identify potential risks and obstacles affecting the smart advisor market.
•Competitive Landscape: Review strategic developments in the smart advisor market, including expansions, agreements, and new product launches.
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