The global robo-advisors market size is estimated to reach USD 5,401.19 billion by 2028, registering a CAGR of 18.6% over the forecast period, according to a new report by Million Insights. The cost-effective investment advisory and more accessibility is the key driver for the market. In addition, the augmented use of technology by advisors for advice and execution drives the industry growth. However, the lack of investment choice is the major restraint for the market. The COVID-19 pandemic had a positive impact on the market.
The industry had witnessed considerable growth due to the increased adoption of robo advisors for efficient wealth and asset management in a large volatile market during the pandemic. Most of the investors took benefit of investment opportunities that occurred during the pandemic. The competencies of robo advisors to reduce illogical behavior and poor & spontaneous decision-making during a critical time like the COVID-19 pandemic remarkably contributes to the market development.
Click Here To Request Free Demo of Robo-Advisors Market Report: https://www.millioninsights.com/snapshots/robo-advisors-market-report/request-demo
The automated online portfolio management services segment dominated the market and accounted for the largest revenue share of more than 75% in 2020. The segment is estimated to expand further at a steady CAGR from 2021 to 2028. Automated online portfolio management services mainly help improve speed as well as accuracy for making business decisions as they seek an advantage in this competitive environment. Moreover, the customers are looking out for digital solutions that help them to budget, save, and invest their money. Thus, the rising demand for automated portfolio management services will drive the growth of this segment.
Asia Pacific is estimated to register the fastest CAGR of 19.2% from 2021 to 2028. The increase of digital investments, advisory landscape supported by a rise in the number of start-ups, and various government initiatives for FinTech growth across the developing nations, such as China, India, and Japan, are anticipated to boost the regional market growth. According to MEDICI, the number of robo-advisors in India rose from 3 companies in 2013 to 16 companies by the end of 2019.
To browse report summary & detailed TOC, please click the link below:
https://www.millioninsights.com/snapshots/robo-advisors-market-report
Robo-Advisors Market Report Highlights
• Asia Pacific is estimated to grow at the highest CAGR from 2021 to 2028 due to a rise in internet usage along with low-cost investment guidance, as well as growth in digital consulting technologies’ maturity
• North America accounted for the largest market share in 2020. The U.S. majorly contributes to the North America regional market
• The U.S. was the first country to introduce the automated financial advisor and also represent the leading robo-advisory industry in the world
• The rise in the adoption of robot advisory among investors is also acting as a reason for the growing demand for this technology. The highest asset under management in the market was reached in the U.S. in 2020
• The financial advisory services segment is likely to register the highest CAGR from 2021 to 2028
• FinTech companies depend on technology advisory by implementing AI and ML to offer precise and transparent services to retail investors, thereby driving the segment growth
Robo-Advisors Market Segmentation
Million Insights has segmented the global robo-advisors market on the basis of type and region:
- Robo-Advisors Type Outlook (Revenue, USD Billion, 2017 – 2028)
- Automated Online Portfolio Management Services
- Financial Advisory Services
- Robo-Advisors Regional Outlook (Revenue, USD Billion, 2017 – 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- South Africa
- North America
List of Key Players of Robo-Advisors Market
- Betterment LLC
- Charles Schwab & Co., Inc.
- Social Finance, Inc.
- Wealthfront Corp.
- Axos Financial, Inc.
- Ally Financial, Inc.
- TD Ameritrade, Inc.
- Wealthsimple Technologies, Inc.
- The Vanguard Group, Inc.
- SigFig Wealth Management, LLC
Explore the Related Snapshots Press Releases by Million Insights:
• E-commerce Food And Beverages Market – The global e-commerce food and beverages market size is expected to reach USD 566.0 billion by 2028. It is expected to expand at a CAGR of 7.4% from 2021 to 2028.
• E-Commerce Furniture And Homeware Market – The global e-commerce furniture and homeware market size is expected to reach USD 270.8 billion by 2028, registering a CAGR of 6.6% over the forecast period
About Million Insights
Million Insights, is a distributor of market research reports, published by premium publishers only. We have a comprehensive market place that will enable you to compare data points, before you make a purchase. Enabling informed buying is our motto and we strive hard to ensure that our clients get to browse through multiple samples, prior to an investment. Service flexibility & the fastest response time are two pillars, on which our business model is founded. Our market research report store, includes in-depth reports, from across various industry verticals, such as healthcare, technology, chemicals, food & beverages, consumer goods, material science & automotive.
Media Contact
Company Name: Million Insights
Contact Person: Ryan Manuel
Email: Send Email
Phone: 91-20-65300184
Address:Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar
City: Pune
State: Maharashtra
Country: India
Website: https://www.millioninsights.com/snapshots/robo-advisors-market-report