Robo Advisory Market Report by Business Model (Pure Robo Advisors, Hybrid Robo Advisors), Service Type (Direct Plan-Based/Goal-Based, Comprehensive Wealth Advisory), Provider (Fintech Robo Advisors, Banks, Traditional Wealth Managers, and Others), End User (Retail Investor, High Net Worth Individuals (HNIs)), and Region 2024-2032

Robo Advisory Market Report by Business Model (Pure Robo Advisors, Hybrid Robo Advisors), Service Type (Direct Plan-Based/Goal-Based, Comprehensive Wealth Advisory), Provider (Fintech Robo Advisors, Banks, Traditional Wealth Managers, and Others), End User (Retail Investor, High Net Worth Individuals (HNIs)), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A5290
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Market Overview:

The global robo advisory market size reached US$ 9.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 76.2 Billion by 2032, exhibiting a growth rate (CAGR) of 25.6% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 9.4 Billion
Market Forecast in 2032
US$ 76.2 Billion
Market Growth Rate 2024-2032 25.6%


Robo advisory refers to a class of digital platforms that provide algorithm-driven and automated financial advice to wealth management organizations. It aids in automating portfolio administration software, performing complicated tasks, customizing online investments, and managing funds with minimal human intervention. This, in turn, assists in targeting new clients, enhancing workflow, and adjusting custom online investments to achieve long-term financial goals or short-term investment strategies. At present, robo advisory is commercially available in varying service types, such as direct plan-based, goal-based, and comprehensive health advisory.

Robo Advisory Market

Robo Advisory Market Trends:

The widespread adoption of Robo Advisory across various industrial verticals, retail and high net worth individuals (HNIs) for performing algorithmic calculations to analyze data and deliver comprehensive information is majority driving the market toward growth. This is further supported by the shifting inclination of consumers toward robo advisory over traditional investments on account of its several beneficial properties, such as low-cost portfolio, tax-loss harvesting, secure investments, judgement based on real-time statistics, which, in turn, assists in eliminating the credit risks. In line with this, the increasing need for automating complex event processing has led to significant technological advancements, such as the large-scale integration of artificial intelligence (AI) and machine learning (ML) solutions, which is aiding in minimizing the errors caused by human interventions. This, in turn, is acting as another major growth-inducing factor. Additionally, the extensive utilization of robo advisory for executing online surveys to predict investor preferences, risks and goals, and acquire information regarding the financial status of the client, degree of risk-aversion, and desired return on investments is further contributing to the market growth. Apart from this, the rising popularity of smartphones, laptops, and tablets amongst millennials for accessing information and communicating is further creating a positive outlook for the market across the globe.

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global robo advisory market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on business model, service type, provider and end user.

Breakup by Business Model:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • Pure Robo Advisors
  • Hybrid Robo Advisors
     

Breakup by Service Type:

  • Direct Plan-Based/Goal-Based
  • Comprehensive Wealth Advisory
     

Breakup by Provider:

  • Fintech Robo Advisors
  • Banks
  • Traditional Wealth Managers
  • Others
     

Breakup by End User:

  • Retail Investor
  • High Net Worth Individuals (HNIs)
     

Breakup by Region:

 

 
 

 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Betterment, Ellevest, Fincite Gmbh, Ginmon Vermögensverwaltung GmbH, SigFig Wealth Management LLC, SoFi Technologies Inc., The Charles Schwab Corporation, The Vanguard Group Inc., Wealthfront Corporation and Wealthify Limited (Aviva plc).

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Business Model, Service Type, Provider, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Betterment, Ellevest, Fincite Gmbh, Ginmon Vermögensverwaltung GmbH, SigFig Wealth Management LLC, SoFi Technologies Inc., The Charles Schwab Corporation, The Vanguard Group Inc., Wealthfront Corporation and Wealthify Limited (Aviva plc).
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global robo advisory market was valued at US$ 9.4 Billion in 2023.

We expect the global robo advisory market to exhibit a CAGR of 25.6% during 2024-2032.

The rising demand for robo advisory platform over traditional investments for eliminating credit risks, owing to secure investments and accurate decision making based on real-time statistics, is primarily driving the global robo advisory market.

The sudden outbreak of the COVID-19 pandemic has led to the growing adoption of robo advisory platform, for remotely performing complicated tasks, customizing online investments, and managing funds with minimal human intervention.

Based on the business model, the global robo advisory market has been divided into pure robo advisors and hybrid robo advisors, where hybrid robo advisors exhibit a clear dominance in the market.

Based on the service type, the global robo advisory market can be categorized into direct plan- based/goal-based and comprehensive wealth advisory. Currently, comprehensive wealth advisory holds the majority of the global market share.

Based on the provider, the global robo advisory market has been segmented into fintech robo advisors, banks, traditional wealth managers, and others. Among these, fintech robo advisors represent the largest market share.

Based on the end user, the global robo advisory market can be bifurcated into retail investor and High Net Worth Individuals (HNIs). Currently, High Net Worth Individuals (HNIs) account for the majority of the global market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.

Some of the major players in the global robo advisory market include Betterment, Ellevest, Fincite Gmbh, Ginmon Vermögensverwaltung GmbH, SigFig Wealth Management LLC, SoFi Technologies Inc., The Charles Schwab Corporation, The Vanguard Group Inc., Wealthfront Corporation, and Wealthify Limited (Aviva plc).

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Robo Advisory Market Report by Business Model (Pure Robo Advisors, Hybrid Robo Advisors), Service Type (Direct Plan-Based/Goal-Based, Comprehensive Wealth Advisory), Provider (Fintech Robo Advisors, Banks, Traditional Wealth Managers, and Others), End User (Retail Investor, High Net Worth Individuals (HNIs)), and Region 2024-2032
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