Robo Advisory Market Report by Business Model (Pure Robo Advisors, Hybrid Robo Advisors), Service Type (Direct Plan-Based/Goal-Based, Comprehensive Wealth Advisory), Provider (Fintech Robo Advisors, Banks, Traditional Wealth Managers, and Others), End Use

Robo Advisory Market Report by Business Model (Pure Robo Advisors, Hybrid Robo Advisors), Service Type (Direct Plan-Based/Goal-Based, Comprehensive Wealth Advisory), Provider (Fintech Robo Advisors, Banks, Traditional Wealth Managers, and Others), End User (Retail Investor, High Net Worth Individuals (HNIs)), 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 Vermögensverwaltung 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?