Pune,India, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Global Wealth Management Platform Market size was valued at USD 2.37 billion in 2021 and is projected to reach USD 6.29 billion by 2029, exhibiting a CAGR of 13.2% during the forecast period. Fortune Business Insights™ shares this information in its report titled, “Wealth Management Platform Market Forecast, 2023-2029.”
According to our analysts, during the mentioned period, the market is anticipated to make significant development owing to the surging desire to mechanize the wealth management procedure.
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Key Industry Development-
Prometeia, an Italian wealth-tech management company has declared the unveiling of a Zurich office, which will operate as a functional headquarters for the Swiss market. For self-service users, Prometeia's digital wealth management platform presents HNWI-fixated advice models.
Key Takeaways-
- Wealth Management Platform Market is expected to flourish & reach USD 6.29 Billion in 2029
- The wealth management platform enhances the confidence of bank clients, resulting in stronger engagement and increased willingness to invest.
- Lack of awareness and trust to dampen growth in the wealth Management platform market.
- The SMEs Segment in expected to dominate the global Wealth Management Platform Market during the forecast period, 2022-2029
- Wealth Management Platform Market Size in North America was USD 839.3 Million 2021
Discover the Leading Players Featured in the Report:
SS & C Technologies, Inc. (U.S), Fiserv Inc. (U.S.), FIS (U.S.), Profile Software (Europe), Broadridge Financial Solutions, Inc. (U.S.), InvestEdge, Inc. (U.S.), Temenos Headquarters SA (Europe), InvestCloud (U.S.), SEI Investments Company (U.S.), Comarch SA (Europe), Dorsum Limited (Europe), Avaloq Group AG (Europe)
Report Scope & Segmentation-
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 13.2% |
| 2029 Value Projection | USD 6.29 Billion |
| Base Year | 2021 |
| Wealth Management Platform Market Size in 2021 | USD 2.37 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 140 |
| Segments covered | Deployment, Enterprise, End-User, |
| Wealth Management Platform Market Growth Drivers | Increased Digitization and High Adoption of Automation to Propel Market Growth |
| Lack of Awareness and Trust to Hamper Growth of Market |
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Drivers and Restraints-
Improved Digitization and Great Adoption of Automation to Thrust Market Growth
The market is perceiving the agreement of digitalization and course automation that are in compliant with company rules, encouraging favorable benefits to the market. Several firms across the world are working on quickening digitalization, refining operational efficiency, and enhancing clientele connections. Consequently, the implementation of commercial advisory and management solutions in numerous end-use industries is probable to fast-track. Establishments may utilize wealth management tools to maintain track of dealings and administer their assets in a better way.
Segmentation-
By Deployment
- Cloud
- On-premise
By Enterprise Size
- Large Enterprise
- SMEs
By End-user
- Banks
- Trading Firms
- Investment and Management Firms
- Brokerage Firms
- Others (Asset Management Firms, and Others)
Regional Insights-
North America to Lead Stoked by Increasing Prominence of Service in Region
North America holds the largest wealth management platform market share and is projected to sustain its governance over forecast period. Wealth management services are turning to be extensively crucial in North America in order to appeal and retain successful retail users.
Asia Pacific is estimated to be the quickest-increasing market during the forecast period. The region is predicted to present better prospects for economic consultants due to the surging utilization of digital platforms.
Europe is estimated to hold crucial market share in impending years. Europe's great net worth individual population and wealth have augmented promptly.
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Competitive Landscape-
Groundbreaking Product Launches by Significant Players to Support Market Growth
The fundamental companies operating in the industry are often seen embracing numerous stratagems to foster their position in the market as dominating corporations. Among the abundant tactics available, companies are actively using strategies such as purchasing other firms to encourage the brand value among users. Another indispensable strategy is periodically launching pioneering products with a comprehensive review of the market and its users.
FAQs
How big is the Wealth Management Platform Market?
The Wealth Management Platform Market size was USD 2.37 billion in 2021. It is expected to reach USD 6.29 billion by 2029.
How fast is the Wealth Management Platform Market growing?
The Wealth Management Platform Market will exhibit a CAGR of 13.2% during the forecast period, 2022-2029.
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