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According to the latest report by IMARC Group, titled "Robo Advisory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global robo advisory market reached a value of US$ 5.63 Billion in 2021. Robo advisory refers to a virtual platform that assists multiple businesses by managing investments and providing financial advice with minimal human intervention. It involves the utilization of algorithms and the inputs received from the investors in order to analyze and predict risks and goals, and stockholder preferences. As a result, it offers robust goal planning, easy account setup, portfolio management, accounts services, enhanced security and attentive customer service. The demand for robo advisory is increasing across the globe due to the rising need for cost-efficient investment advisory solutions and the growing adoption of smartphones and laptops among individuals.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Robo Advisory Market Trends:
The global market is primarily driven by a considerable increase in data generation across various industrial verticals. Coupled with rapid digitization and the growing adoption of connected devices among the masses, this has encouraged leading players to heavily invest in the deployment of robo advisories. Along with this, the widespread introduction of secured investment plans and the rising popularity of stock market trading among individuals are creating a positive market outlook. Since robo advisories provide precise judgements on the basis of the current economic scenario and real-time statistics, there has been a significant rise in the utilization of these platforms on the global level. Apart from this, continual technological advancements and the integration of artificial intelligence (AI) and the internet of things (IoT) with robo advisory platforms are significantly supporting the growth of the market. Other factors, including rapid urbanization, the inflating disposable income levels of the masses, continual developments in the information technology (IT) infrastructure and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 27.68 Billion by 2027, exhibiting a CAGR of 28.70% during 2022-2027.
Market Summary:
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