Robo Advisory Market Report by Opportunity, Demand, Recent Trends, Major Driving Factors and Business Growth Strategies

 Robo Advisory Market Growth & Trends

The global robo advisory market size is expected to reach USD 41.83 billion by 2030, growing at a CAGR of 29.7% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growing use of smartphones coupled with the increased applications of chatbots on various investment and e-commerce platforms worldwide is anticipated to drive the demand for robo advisory during the projected period. In addition, the increasing awareness of digital investment consultation services is expected to drive market growth during the forecast period.

Robo-advisory includes algorithm and automated driven financial planning with little human involvement. Additionally, through an online survey, the robo-advisor gathers financial information from clients, such as their current financial position and future financial goals. Furthermore, using this information, robo advisors offer clients certain benefits such as quick account setup, portfolio management, and security features. Such factors are anticipated to drive the market in the near future.

Robo Advisory Market Report Scope

Report Attribute	Details
Market size value in 2022	USD 5.22 billion
Revenue forecast in 2030	USD 41.83 billion
Growth rate	CAGR of 29.7% from 2022 to 2030
Base year of estimation	2021
Historical data	2017 - 2020
Forecast period	2022 - 2030

Numerous emerging economies are encouraging regional players to improve their testing and research into robo-advisory services. Such initiatives are also expected to stimulate market growth. For instance, in August 2019, the Saudi Capital Market Authority (CMA) gave Haseed Investing Company and Wahed Capital authorization to test their robo-advisory services. This strategy is to promote the use of financial technology in the Arab market.

The pandemic has contributed positively to the market growth, thereby driving the demand for robo advisors in the near future. Several businesses have reported increased digital consulting activity in the first quarter of 2020. For instance, in April 2021, Betterment reported an increase in account openings by over 25% due to the COVID-19 pandemic These factors are expected to fuel the market growth during the forecast period. 

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Robo Advisory Market Report Highlights

• The pure robo advisors’ segment is expected to witness the fastest growth during the forecast period owing to minimal human intervention offered by pure robo advisors.
• The banks segment is expected to witness the fastest growth during the forecast period. The growth of the segment can be attributed to the increasing digitalization across the banking sector, which is further expected to drive the demand for robo advisors in banks.
• The comprehensive wealth advisory segment is expected to witness the fastest growth during the projected period. The ability of comprehensive wealth advisory to cater to investment consultation inclusion at reasonable costs is propelling the segment growth.
• The High Net Worth Individuals (HNWIs) segment dominated the market in 2021. The dominance can be attributed to the increasing adoption of robo advisory by the HNWIs to save time and increasing investment returns. Hence, HNIWs are inclined towards adopting robo advisors.
• The Asia Pacific regional market is expected to witness the fastest growth during the forecast period. The regional growth is attributable due to the rising internet penetration and the swift uptake of new technologies.

Access Press Release@ https://www.grandviewresearch.com/press-release/global-robo-advisory-market

Robo Advisory Market Segmentation

Grand View Research has segmented the global robo advisory market based on type, provider, service type, end user, and region:

Robo Advisory Type Outlook (Revenue, USD Million, 2017 - 2030)

• Pure Robo Advisors
• Hybrid Robo Advisors

Robo Advisory Provider Outlook (Revenue, USD Million, 2017 - 2030)

• Fintech Robo Advisors
• Banks
• Traditional Wealth Managers
• Others

Robo Advisory Service Type Outlook (Revenue, USD Million, 2017 - 2030)

• Direct Plan-based/Goal-based
• Comprehensive Wealth Advisory

Robo Advisory End User Outlook (Revenue, USD Million, 2017 - 2030)

• Retail Investor
• High Net Worth Individuals

Robo Advisory Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
• Asia Pacific
  • China
  • India
  • Japan
• Latin America
  • Brazil
• Middle East & Africa

List of Key Players of the Robo Advisory Market

• Betterment
• Fincite Gmbh
• Wealthfront Corporation
• The Vanguard Group, Inc.
• Charles Schwab & Co., Inc.
• Ellevest
• Ginmon Vermögensverwaltung GmbH
• Wealthify Limited
• Social Finance, Inc.
• SigFig Wealth Management

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.