Wealth Management Platform Market to hit $ 9,197 Million by 2028, Globally, by 2028 at 13.8% CAGR: The Insight Partners

Rising Adoption of Robo Advisors in Wealth Management to Create Growth Opportunities for Wealth Management Platform Market Players During 2021–2028

NEW YORK, UNITED STATES, October 21, 2022 /EINPresswire.com/ -- According to our latest market study, titled " Wealth Management Platform Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Advisory Model (Human Advisory, Robo-Advisory, and Hybrid), Business Function (Performance Management, Risk and Compliance Management, Portfolio Accounting and Trading Management, Financial Advice Management, Reporting, and Others), Deployment Type (Cloud and On-Premise), and End User (Investment Management Firms, Trading and Exchange Firms, Banks, Brokerage Firms, and Others)”. The wealth management platform market is expected to grow from US$ 3,710.4 million in 2021 to US$ 9,197.6 million by 2028; it is estimated to grow at a CAGR of 13.8% from 2021 to 2028.

Global Wealth Management Platform Market Growth Values, Regional and Industry Scope:

Market Size Value in- US$ 3,710.4 million in 2021
Market Size Value by- US$ 9,197.6 million by 2028
Growth rate- CAGR of 13.8% from 2021 to 2028.
Forecast Period- 2021- 2028
Base Year- 2021
No. of Pages- 203
No. of Tables- 109
No. of Charts & Figures- 95
Historical data available- Yes
Segments covered- Advisory Model, Business Function, Deployment Type, and End User
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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The financial sector is continually adopting advanced technologies to provide financial services in cheaper and efficient ways. These advanced and creative technologies garnered attention during the global financial crisis of 2007–2008, when strict rules were imposed on conventional banks, and innovations in the IT industry increased the incentives for expanding nonbank and technology-based financial enterprises. For instance, a few technological revolutions in the finance sector comprise mobile payments, ATMs (automated teller machines), and trade finance using blockchain. The technological interruptions in wealth management services consist of Robo-advisors and automated financial advisors designed to compete with human advisors. Robo-advisors advise various investing techniques for goals, such as saving for significant expenses, retirement, and maintaining a stream of income to handle expenses effectively.

Wealth Management Platform Market: Competitive Landscape and Key Developments

Thai Union Group, Sterling Seafood Corp., Clifton Seafood Company, Marine Foods, Viet Asia Foods Company, American Seafoods, Mazetta Company LLC, High Liner Foods Inc, The Sirena Group, and Castlerock Fisheries Pvt. Ltd. are the key players operating in the global Wealth Management Platform market. These companies provide a wide range of products for the market and have a widespread global presence, which provides a lucrative opportunity to serve a large set of customers.

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Impact of COVID-19 Pandemic on Wealth Management Platform Market

Businesses are facing new challenges due to the COVID-19 pandemic and the development of remote work environments. Further, the pandemic's arrival in 2020 has prompted a slew of challenges for global market operations. Healthcare infrastructures of developed economies have collapsed due to the rising number of COVID-19 cases. Millions of people have been unable to obtain important financial and investment advice due to the COVID-19 epidemic. Multiple organizations are strengthening their trading platform services to create a scalable and trustworthy platform that simultaneously offers access to global markets, insight into a range of trading techniques, and up-to-date market valuations and investment services, as a result of the pandemic. In addition, the increased investments bode well for the wealth management platform industry in the following years.

The report segments the Wealth Management Platform market as follows:

The wealth management platform market, by deployment type, is segmented into cloud and on-premises. By advisory model, the market is segmented into human advisory, robo-advisory, and hybrid. The wealth management platform market, by business function, is segmented into performance management, risk and compliance management, portfolio accounting and trading management, financial advice management, reporting, and others. The wealth management platform market, by end user, is segmented into trading & exchange firms, banks, brokerage firms, investment management firms, and others. Based on geography, the wealth management platform market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for a significant share of the overall wealth management platform market.

North America was the first region to introduce automated financial advisors (robo-advisory). Wealth management organizations and banks in the US have implemented robo-advisory services to offer comprehensive, effective, and efficient services. Key reasons that led to the early acceptance of this technology across the region are increased operational cost and accessibility, supported by rising internet penetration and cheap financial aid fees. Similarly, APAC is witnessing an increase in robo-advisory users and assets under management (AUM) programmes. These factors lead to the growth of the wealth management platform market.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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