July 19, 2021
According to the research report titled ‘Wealth Management Platform Market Size By Advisory Mode (Human Advisory, Robo Advisory, Hybrid), By Deployment Model, By End-use (Banking, Investment Management Firms, Trading & Exchange Firms, Brokerage Firms), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027.’, available with Market Study Report LLC, global wealth management platform market is slated to grow significantly through 2027.
Escalating demand for efficient solutions, surging digitalization across the financial sector, and increasing use of AI and blockchain technologies are primarily catalyzing the global wealth management platform market.
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Additionally, strict government compliances pertinent to financial sector, surging number of HNWI as well as adoption of various strategic initiatives by the key players to strengthen their presence are propelling the market outlook.
On the contrary, high reliability on traditional methods as well as rising concerns over data safety & security issues are likely to hamper global wealth management platform industry scenario during the projected timeframe.
In terms of advisory mode, global wealth management platform market is bifurcated into robo advisory, human advisory and hybrid. Based on deployment model, the industry space is bifurcated into Cloud and on-premise.
Speaking of application gamut, the marketplace is classified into portfolio, accounting, & trading management, reporting, financial advice & management, risk & compliance management and performance management. Global wealth management platform industry size from performance management segment is expected to register 10% CAGR through 2027, owing to the rising demand of understanding portfolio performance with the help of analytical tools.
The end-user terrain of the industry scenario consists of brokerage firms, trading & exchange firms, banking and investment management firms. The brokerage firms segment is anticipated to record a CAGR of 15% over the projected period, primarily due to to expanding digitalization across the globe.
Geographically, Latin America held 5% of industry share in 2020 and is expected to grow further over the ensuing years, owing to rising digitalization of the financial sector. Parallelly, Middle East & Africa is anticipated to record 10% CAGR through 2027, creditable to mounting demand of secure wealth management solutions
Leading companies in global wealth management platform market include Fiserv, Inc., Broadridge Financial Solutions, Prometeia, FIS Global, Temenos AG, InvestCloud, Inc., Backbase, SS&C Technologies Holdings, Inc., SEI Investments Company, Avaloq and Comarch among others