The global wealth management software market size
is expected to reach USD 5.80 billion by 2025, registering a CAGR of 15.3% from
2019 to 2025, according to a new study conducted by Grand View Research, Inc.
Growing need for digital tools that can automate the wealth management process
is expected to drive the global market over the forecast period. Banks, trading
houses, brokerage firms, forex traders, and asset management firms are some of
the major end users of wealth management software. Apart from being
cost-effective, these platforms can benefit end users by helping in wealth
management and workflow automation. These platforms can also enhance digital
engagement by providing omnichannel access and an open architecture, which can
integrate seamlessly across various wealth management applications.
Such benefits bode well
for the market growth. Wealth management software can also serve as advisory
tools that ensure compliance with local and international regulatory
requirements, help in tracking the market, and capture the investment
opportunities for the users. Such capabilities are expected to drive their
demand further. A wealth management software can typically provide the
infrastructure necessary to support all the processes and operations asset
managers have to undertake. Moreover, advances in technology are allowing
financial advisors to introduce chatbots, intuitive client portals, biometrics,
and enhanced mobile apps as part of the efforts to improve the customer
experience as well as to attract new clients.
Access
Research Report of Wealth Management Software Market @ https://www.grandviewresearch.com/industry-analysis/wealth-management-software-market
Further key findings from the study suggest:
· Robo advisory mode is anticipated to record
the highest CAGR of 16.0% from 2019 to 2025 as it is cost-effective and can
potentially help investors by providing information on assets in real time
· The cloud segment is expected to emerge as
the largest segment over the forecast period as cloud-based deployment helps in
minimizing the operational costs and ensures easy access to the data
· The financial advice and management segment
is anticipated to expand at the highest CAGR of 16.0% from 2019 to 2025 due to
growing demand for tools to manage finances
· The trading and exchange firms segment is
anticipated to reach USD 1.01 billion by 2025 as individuals are increasingly
investing in equity and forex to augment their financial gains
· North America is expected to be the dominant
market over the forecast period and is anticipated to reach USD 2.09 billion by
2025 as advisory firms in the region are increasingly adopting wealth
management software
· Some of the key industry participants
include Fiserv, Inc.; Temenos Headquarters SA; Fidelity National Information
Services, Inc.; Profile Software; SS&C Technologies Holdings, Inc.; SEI
Investments Company; Finantix, Comarch SA; Objectway S.p.A.; and Dorsum Ltd.
Grand View Research has
segmented the global wealth management software market on the basis of advisory
mode, deployment, application, end use, and region:
Wealth Management Software Advisory Mode Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Human Advisory
·
Robo Advisory
·
Hybrid
Wealth Management Software Deployment Outlook (Revenue,
USD Billion, 2014 - 2025)
·
Cloud
·
On-premise
Wealth Management Software Application Outlook (Revenue,
USD Billion, 2014 - 2025)
·
Financial Advice & Management
·
Portfolio, Accounting, & Trading
Management
·
Performance Management
·
Risk & Compliance Management
·
Reporting
·
Others
Wealth Management Software Enterprise Size Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Large Enterprises
·
Small & Medium Enterprises (SMEs)
Wealth Management Software End Use Outlook (Revenue, USD
Billion, 2014 - 2025)
·
Banks
·
Investment Management Firms
·
Trading & Exchange Firms
·
Brokerage Firms
·
Others
Wealth Management Software Regional Outlook (Revenue, USD
Billion, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
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.
