In the latest report by IMARC Group, titled “Wealth Management Platform Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global wealth management platform market size reached US$ 3.8 Billion in 2021. A wealth management platform refers to software used for monitoring, analyzing, controlling, and planning specialized financial services. It is an investment advisory service that combines other financial services to cater to the needs of affluent clients. It involves legal and tax advice, estate planning, portfolio management capabilities, personal retail banking services, financial goal planning, and investment management services. It streamlines operations, delivers advice, and manages complex and multiple investment programs from one solution. In recent years, wealth management platforms have gained traction due to their extensive adoption in brokerage, investment management, banks, and trading firms.
We are 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 market.
Global Wealth Management Platforms Market Trend:
One of the primary factors driving the market is the increasing intervention of the latest technologies in wealth management advisory. Additionally, the rising need to automate wealth management procedures is creating a positive market outlook. Other than this, wealth management platforms aid businesses in gaining insights and improving decision-making to enhance profitability and efficiency. Besides this, this product is extensively used in trading and exchange firms to understand the procedure of financial portfolios, manage multiple clients, and access trading accounts. In line with this, the amplified acceptance of cloud-based solutions is propelling the market growth. Furthermore, constant technological advancements, such as the introduction of digital wealth management platforms to offer financial firms the latest integrated tools and data-driven analytics, are accelerating the product adoption rate. In line with this, the integration of artificial intelligence (AI) to identify investment preferences, track expenditure, identify investment preferences, and provide personalized and curated devices for customers is driving the market growth. Other growth-inducing factors include rapid digitalization, the rising disposable incomes in growing economies and the implementation of various government compliances related to the financial sector. Looking forward, IMARC Group expects the market value to reach US$ 8.25 Billion in 2027, expanding at a CAGR of 13.10% during the forecast period (2022-2027).
- Based on the advisory model, the market has been divided into hybrid, robo advisory, and human advisory.
- On the basis of the deployment mode, the market has been bifurcated into on-premises and cloud-based.
- Based on the business function, the market has been classified into reporting, performance management, financial advice management, risk and compliance management, portfolio, accounting and trading management, and others.
- On the basis of the enterprise size, the market has been categorized into large, and small and medium-sized enterprises.
- Based on the end use industry, the market has been divided into banks, brokerage firms, investment management firms, trading and exchange firms, and others.
- Region-wise, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, Indonesia, South Korea, Australia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Avaloq (NEC Corporation), Backbase, Boardridge Financial Solutions Inc., Comarch SA, Crealogix AG, Fidelity National Information Services Inc., Fiserv Inc., Infosys Limited, Profile Systems and Software S.A., Prometeia S.p.A., SEI Investments Company, SS&C Technologies Inc., Tata Consultancy Services Limited, and Temenos Headquarters SA.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800