Research Expert: Sarah Overall
  • Published: Oct 2024
  • Pages: 150
  • SKU: IRTNTR77531

  • growing adoption of ai and ml in robo advisory services is driving the Robo Advisory Services Market

    Latest News:- Robo Advisory Services Market: High net worth individuals is expected to lead the End-user segment during 2024-2028

    Technavio analyzes that the Robo Advisory Services Market is expected to grow at a CAGR of 9.16% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1306.37 billion.There are various factors that contribute to the growth of the market. The robo-advisory market is experiencing significant growth due in part to the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies. These advanced technologies enable robo-advisors to provide personalized investment recommendations and manage portfolios more efficiently than ever before. As a result, more investors are turning to robo-advisory services for their investment needs, driving market expansion. The integration of AI and ML in robo-advisory services offers numerous benefits, including improved risk management, enhanced customer experience, and increased accuracy in investment decisions.

    High net worth individuals (HNWIs) seek efficient and cost-effective solutions for managing their wealth, leading to the increasing popularity of robo advisory services. Robo advisors, including pure, hybrid, and fintech variants, offer lower fees compared to traditional wealth management firms, making them attractive options for HNWIs. These platforms provide 24/7 access to investment management tools and services, enabling personalized investment strategies based on individual risk tolerance, financial goals, and preferences. Transparent reporting and easy-to-understand analytics empower HNWIs to closely monitor their investments and make informed decisions. The ability to maintain control over their portfolios while leveraging automation is a significant appeal for HNWIs. 

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    Robo Advisory Services Market Segmentation

    • End-user
      • High net worth individuals
      • Retail investors
    • Service Type
      • Portfolio management
      • Tax optimization
      • Retirement planning
      • Others
    • Geography
      • North America
      • Europe
      • APAC
      • South America
      • Middle East and Africa

    Top Performing Companies

    As per our research findings, here are some of the key competitors that are leading the industry

    • ACORNS ADVISERS LLC
    • Axos Financial Inc.
    • Betterment LLC
    • Fincite GmbH
    • FMR LLC
    • Ginmon Vermogensverwaltung GmbH
    • JPMorgan Chase and Co.
    • M1 Holdings Inc.
    • MFM Investment Ltd.
    • Robinhood Financial LLC
    • Scalable Capital GmbH
    • SigFig Wealth Management LLC 
    • SoFi Technologies Inc.
    • Stash Financial Inc.
    • The Charles Schwab Corp.
    • The Vanguard Group Inc.
    • Wealthfront Corp.
    • Wealthify Ltd.
    • Bank of America Corp.
    • BlackRock Inc.

    Find out what is trending in the market by accessing the free PDF report

    Research Analysis Overview

    In the realm of digital wealth management, Robo-advisors emerge as automated financial experts, providing algorithm-driven wealth management services. These online platforms utilize an online questionnaire to offer personalized financial advice based on client assets and business models. Robo advisory services leverage digital technology, Artificial Intelligence, and human intervention to cater to the needs of consumers, particularly Generation X and millennial generations. However, with increasing adoption comes potential cyber threats, necessitating robust security measures. Passive investors can benefit from these services offered by platforms like Wahed Capital, Wealthfront, and Betterment, which employ AI for portfolio management and inflation mitigation in the retail banking sector.

    Market Research Overview

    The robo-advisory services market represents a segment of the global application software industry, which is a sub-segment of the larger IT software market. According to Technavio, this market encompasses businesses specializing in algorithm-driven, automated wealth management services. The IT software market comprises companies involved in software development and production, including application software and system software. The application software market specifically focuses on creating software for business or consumer applications, such as enterprise software and cloud-based solutions. It excludes entities producing interactive home entertainment software or system software for database management.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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    • Current Market Insights: Our reports offer valuable information on the latest market intelligence, competitor strategies, trends, industry changes, customer preferences, and forecasted market opportunities to aid in informed business decisions.

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    Contacts

    Technavio Research
    Jesse Maida
    Media & Marketing Executive
    US: +1 844 364 1100
    UK: +44 203 893 3200
    Email: media@technavio.com
    Website: www.technavio.com/

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