The new report by Expert Market Research titled, 'Global Wealth Management Platform Market Report and Forecast 2022-2027', gives an in-depth analysis of the global wealth management platform market, assessing the market based on its segments like deployment types, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 4,778.7 Million
- Forecast CAGR (2022-2027): 9%
- Forecast Market Size (2027): USD 10,268.9 Million
The market for wealth management platform is being propelled by the rapid digitisation of the banking sector. The growing adoption of new technologies is also augmenting the market for wealth management platform. With the increasing focus of various governments to bolster economic growth, the market for wealth management platform is growing robustly. The increasing penetration of fintech and the growing high-net-worth individuals (HNWIs) are further invigorating the market for wealth management platform. Moreover, the rising adoption of digital platforms is leading to a surge in the demand for robo-advisers. Various small and medium-sized businesses are also increasingly adopting wealth management platforms to streamline their businesses, which is expected to propel the growth of the market in the forecast period.
Industry Definition and Major Segments
A wealth management platform is an advisor platform that provides information regarding wealth overview, portfolio management, and financial planning. It enables consumers to track their investments safely and enhances investment willingness and strong engagement. Moreover, wealth management platforms allow effective management of multiple complex investment programs while streamlining operations.
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The market, based on deployment type, is divided into:
By end use, the market is categorised into:
- Trading Firms
- Brokerage Firms
- Investment Management Firms
The regional markets of wealth management platform are:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The market growth can be attributed to the growing adoption of digital investment management solutions by high-net-worth individuals (HNWI). The increasing use of wealth management platforms to enhance transparency and control is bolstering the market growth. As wealth management platforms improve trading decisions and portfolio management, they are increasingly used to boost the profitability of organisations. Moreover, technological advancements in blockchain and artificial intelligence (AI) are surging the automation of wealth management platforms. As such technologies enhance consumer experiences while bolstering cost-effectiveness, the market for wealth management platforms is expected to witness a healthy growth in the forecast period.
Key Market Players
The major players in the market are Avaloq Group AG, Temenos AG, Fidelity National Information Services, Inc., Prometeia S.p.A, and Backbase B.V, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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