PUBLISHER: IMARC | PRODUCT CODE: 1519770
PUBLISHER: IMARC | PRODUCT CODE: 1519770
Robo Advisory Market Report by Business Model, Service Type, Provider, End User (Retail Investor, High Net Worth Individuals ), and Region 2024-2032
The global robo advisory market size reached US$ 9.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 76.2 Billion by 2032, exhibiting a growth rate (CAGR) of 25.6% during 2024-2032.
Robo advisory refers to a class of digital platforms that provide algorithm-driven and automated financial advice to wealth management organizations. It aids in automating portfolio administration software, performing complicated tasks, customizing online investments, and managing funds with minimal human intervention. This, in turn, assists in targeting new clients, enhancing workflow, and adjusting custom online investments to achieve long-term financial goals or short-term investment strategies. At present, robo advisory is commercially available in varying service types, such as direct plan-based, goal-based, and comprehensive health advisory.
Robo Advisory Market Trends:
The widespread adoption of Robo Advisory across various industrial verticals, retail and high net worth individuals (HNIs) for performing algorithmic calculations to analyze data and deliver comprehensive information is majority driving the market toward growth. This is further supported by the shifting inclination of consumers toward robo advisory over traditional investments on account of its several beneficial properties, such as low-cost portfolio, tax-loss harvesting, secure investments, judgement based on real-time statistics, which, in turn, assists in eliminating the credit risks. In line with this, the increasing need for automating complex event processing has led to significant technological advancements, such as the large-scale integration of artificial intelligence (AI) and machine learning (ML) solutions, which is aiding in minimizing the errors caused by human interventions. This, in turn, is acting as another major growth-inducing factor. Additionally, the extensive utilization of robo advisory for executing online surveys to predict investor preferences, risks and goals, and acquire information regarding the financial status of the client, degree of risk-aversion, and desired return on investments is further contributing to the market growth. Apart from this, the rising popularity of smartphones, laptops, and tablets amongst millennials for accessing information and communicating is further creating a positive outlook for the market across the globe.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global robo advisory market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on business model, service type, provider and end user.
Breakup by Business Model:
Pure Robo Advisors
Hybrid Robo Advisors
Breakup by Service Type:
Direct Plan-Based/Goal-Based
Comprehensive Wealth Advisory
Breakup by Provider:
Fintech Robo Advisors
Banks
Traditional Wealth Managers
Others
Breakup by End User:
Retail Investor
High Net Worth Individuals (HNIs)
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Betterment, Ellevest, Fincite Gmbh, Ginmon Vermogensverwaltung GmbH, SigFig Wealth Management LLC, SoFi Technologies Inc., The Charles Schwab Corporation, The Vanguard Group Inc., Wealthfront Corporation and Wealthify Limited (Aviva plc).
Key Questions Answered in This Report
- 1. What was the size of the global robo advisory market in 2023?
- 2. What is the expected growth rate of the global robo advisory market during 2024-2032?
- 3. What are the key factors driving the global robo advisory market?
- 4. What has been the impact of COVID-19 on the global robo advisory market?
- 5. What is the breakup of the global robo advisory market based on the business model?
- 6. What is the breakup of the global robo advisory market based on the service type?
- 7. What is the breakup of the global robo advisory market based on the provider?
- 8. What is the breakup of the global robo advisory market based on the end user?
- 9. What are the key regions in the global robo advisory market?
- 10. Who are the key players/companies in the global robo advisory market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Robo Advisory Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Business Model
- 6.1 Pure Robo Advisors
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Hybrid Robo Advisors
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Service Type
- 7.1 Direct Plan-Based/Goal-Based
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Comprehensive Wealth Advisory
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Provider
- 8.1 Fintech Robo Advisors
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Banks
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Traditional Wealth Managers
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Market Breakup by End User
- 9.1 Retail Investor
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 High Net Worth Individuals (HNIs)
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Betterment
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 Ellevest
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 Fincite Gmbh
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 Ginmon Vermogensverwaltung GmbH
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.5 SigFig Wealth Management LLC
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 SoFi Technologies Inc.
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.7 The Charles Schwab Corporation
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 The Vanguard Group Inc.
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 Wealthfront Corporation
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 Wealthify Limited (Aviva plc)
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.1 Betterment
List of Figures
- Figure 1: Global: Robo Advisory Market: Major Drivers and Challenges
- Figure 2: Global: Robo Advisory Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Robo Advisory Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Robo Advisory Market: Breakup by Business Model (in %), 2023
- Figure 5: Global: Robo Advisory Market: Breakup by Service Type (in %), 2023
- Figure 6: Global: Robo Advisory Market: Breakup by Provider (in %), 2023
- Figure 7: Global: Robo Advisory Market: Breakup by End User (in %), 2023
- Figure 8: Global: Robo Advisory Market: Breakup by Region (in %), 2023
- Figure 9: Global: Robo Advisory (Pure Robo Advisors) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 10: Global: Robo Advisory (Pure Robo Advisors) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 11: Global: Robo Advisory (Hybrid Robo Advisors) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: Global: Robo Advisory (Hybrid Robo Advisors) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: Global: Robo Advisory (Direct Plan-Based/Goal-Based) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: Global: Robo Advisory (Direct Plan-Based/Goal-Based) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Global: Robo Advisory (Comprehensive Wealth Advisory) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Global: Robo Advisory (Comprehensive Wealth Advisory) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Global: Robo Advisory (Fintech Robo Advisors) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Global: Robo Advisory (Fintech Robo Advisors) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Global: Robo Advisory (Banks) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Global: Robo Advisory (Banks) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: Global: Robo Advisory (Traditional Wealth Managers) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: Global: Robo Advisory (Traditional Wealth Managers) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: Global: Robo Advisory (Other Providers) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: Global: Robo Advisory (Other Providers) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: Global: Robo Advisory (Retail Investor) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: Global: Robo Advisory (Retail Investor) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: Global: Robo Advisory (High Net Worth Individuals-HNIs) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: Global: Robo Advisory (High Net Worth Individuals-HNIs) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: North America: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: North America: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 31: United States: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 32: United States: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 33: Canada: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 34: Canada: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 35: Asia-Pacific: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 36: Asia-Pacific: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 37: China: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 38: China: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 39: Japan: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 40: Japan: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 41: India: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 42: India: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 43: South Korea: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 44: South Korea: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 45: Australia: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 46: Australia: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 47: Indonesia: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 48: Indonesia: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 49: Others: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 50: Others: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 51: Europe: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 52: Europe: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 53: Germany: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 54: Germany: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 55: France: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 56: France: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 57: United Kingdom: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 58: United Kingdom: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 59: Italy: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 60: Italy: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 61: Spain: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 62: Spain: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 63: Russia: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 64: Russia: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 65: Others: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 66: Others: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 67: Latin America: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 68: Latin America: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 69: Brazil: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 70: Brazil: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 71: Mexico: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 72: Mexico: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 73: Others: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 74: Others: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 75: Middle East and Africa: Robo Advisory Market: Sales Value (in Million US$), 2018 & 2023
- Figure 76: Middle East and Africa: Robo Advisory Market: Breakup by Country (in %), 2023
- Figure 77: Middle East and Africa: Robo Advisory Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 78: Global: Robo Advisory Industry: SWOT Analysis
- Figure 79: Global: Robo Advisory Industry: Value Chain Analysis
- Figure 80: Global: Robo Advisory Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Robo Advisory Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: Robo Advisory Market Forecast: Breakup by Business Model (in Million US$), 2024-2032
- Table 3: Global: Robo Advisory Market Forecast: Breakup by Service Type (in Million US$), 2024-2032
- Table 4: Global: Robo Advisory Market Forecast: Breakup by Provider (in Million US$), 2024-2032
- Table 5: Global: Robo Advisory Market Forecast: Breakup by End User (in Million US$), 2024-2032
- Table 6: Global: Robo Advisory Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 7: Global: Robo Advisory Market: Competitive Structure
- Table 8: Global: Robo Advisory Market: Key Players
