PUBLISHER: Acute Market Reports | PRODUCT CODE: 1176010
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1176010
Wealth Management Software Market - Growth, Future Prospects and Competitive Analysis, 2022 - 2030
Overview
The global wealth management software market was valued at US$ 2.20 Bn in 2020 and is expected to witness significant growth, expanding at a CAGR of 12.3% during the forecast period from 2021 to 2029. Wealth management is changing at a rapid pace. Numerous forces from ever-changing client expectations and advanced technologies to rise of disruptive operational models and the market encroachment of eccentric foes are restructuring the playing field. Wealth management is one of the most attractive sectors within the financial services industry. Emerging digitization coupled with rising adoption of automation processes by several financial establishments is one of the prominent factor expected to stimulate the growth of wealth management software worldwide. Digitalization has been growing in prevalence and is fueling the efficiency and agility in wealth management practices, which in turn is enhancing the market growth.
Wealth management software serves as an advisory tool that ensures compliance with the regional as well as international regulatory requirements, capture the investment opportunities and helps in tracking the market. These capabilities are projected to drive the demand of wealth management software, thereby increasing the overall market growth throughout the forecast period from 2021 to 2029.
Hybrid Advisory Model Likely to Gain Traction in the Market during the Forecast Period from 2021 to 2029
In 2020, robo-advisory mode garnered largest market share in the global wealth management software market. The segment is likely to grow to at a substantial rate during the forecast period from 2021 to 2029. Robo-advisors are online financial advisory software platforms that deliver algorithm-based wealth management services. This advisory mode eliminates the necessity to use a human financial advisor and provides clients with direct software-based access to the portfolios. Robo-advisors provide several benefits, including a suite of automated capabilities, an easier onboarding process and minimal investment requirements in comparison to the traditional counterparts. Moreover, in terms of performance and accessibility, robo-advisors are highly efficient, accurate and more accessible. Nevertheless, despite of the popularity of fully automated robo-advisory mode, their initial appeal have started to wear-off. The financial industry is already witnessing a move towards espousing a hybrid model that includes a certain amount of human intervention. Typically, a hybrid advisory mode involves an automated solution that provides periodic access to human advisors or in which human financial advisors add robo-advisors to their solutions, thereby providing some of the advantages that a robo-advisor and human advisor have over each other.
North America Garnered Largest Market Share in 2020
The global wealth management software market, based on geography was led by North America in 2020 and is likely to remain dominant throughout the forecast period from 2021 to 2029. The growth of this mainly attributed to the growing number of high-net-worth (HNW) individuals. These HNW individuals are increasingly subscribing to the advanced financial advisory solutions, thereby driving the market growth in the region. Moreover, the presence of some prominent players including Fidelity National Information Services, Inc., Fiserv, Inc., SEI Investments Company, and SS&C Technologies, Inc. etc. supports the market growth and is expected to provide lucrative opportunities for the growth of wealth management software market in the region.
Competitive Insights
The major players identified in the wealth management software market include: Comarch SA, Dorsum Ltd., Fidelity National Information Services, Inc. (FIS), Finantix S.p.A., Fiserv, Inc. Objectway S.p.A., Profile Software, SEI Investments Company, SS&C Technologies, Inc., and Temenos SA among others. Wealth management software providers are continuously developing and updating their software offerings in order to cater the rising needs of the customers and gain competitive advantage over other players. Partnerships, product innovation and new product development remains some of the major strategies adopted by the leading players to have an edge over their counterparts.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Wealth Management Software market are as follows:
- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report:
Micro and macro environment factors that are currently influencing the Wealth Management Software market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Advisory Mode
- Human Advisory
- Robo-advisory
- Hybrid
Functionality
- Financial Advice Management
- Portfolio, Accounting, & Trading Management
- Performance Management
- Risk & Compliance Management
- Reporting
- Others (Client and Fund Management, Billing and Benchmarking, etc.)
Deployment Model
- On-premise
- Cloud
End-user
- Banks
- Investment Management Firms
- Trading & Exchange Firms
- Brokerage Firms
- Others
Region Segment (2020-2030; US$ Million)
- North America
- U.S.
- Canada
- Rest of North America
- UK and European Union
- UK
- Germany
- Spain
- Italy
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC
- Africa
- Rest of Middle East and Africa
Global Impact of COVID-19 Segment (2020-2021; US$ Million )
- Pre COVID-19 situation
- Post COVID-19 situation
Key questions answered in this report:
- What are the key micro and macro environmental factors that are impacting the growth of Wealth Management Software market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Wealth Management Software market?
- Which is the largest regional market for Wealth Management Software market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Wealth Management Software market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Wealth Management Software market worldwide?
Table of Contents
1. Preface
- 1.1. Report Description
- 1.1.1. Purpose of the Report
- 1.1.2. Target Audience
- 1.1.3. Key Offerings
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.3.1. Phase I - Secondary Research
- 1.3.2. Phase II - Primary Research
- 1.3.3. Phase III - Expert Panel Review
- 1.3.4. Assumptions
- 1.3.5. Approach Adopted
2. Executive Summary
- 2.1. Market Snapshot: Global Wealth Management Software Market
- 2.2. Global Wealth Management Software Market, By Advisory Mode, 2021 (US$ Million)
- 2.3. Global Wealth Management Software Market, By Functionality, 2021 (US$ Million)
- 2.4. Global Wealth Management Software Market, By Deployment Model, 2021 (US$ Million)
- 2.5. Global Wealth Management Software Market, By End-user, 2021 (US$ Million)
- 2.6. Global Wealth Management Software Market, By Geography, 2021 (US$ Million)
- 2.7. Impact of Covid 19
- 2.8. Attractive Investment Proposition by Geography, 2021
- 2.9. Competitive Analysis
- 2.9.1. Market Positioning of Key Wealth Management Software Market Vendors
- 2.9.2. Strategies Adopted by Wealth Management Software Market Vendors
- 2.9.3. Key Industry Strategies
3. Wealth Management Software Market: Business Outlook & Market Dynamics
- 3.1. Introduction
- 3.2. Global Wealth Management Software Market Value, 2020 - 2030, (US$ Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers
- 3.3.2. Market Restraints
- 3.3.3. Key Challenges
- 3.3.4. Key Opportunities
- 3.4. Impact Analysis of Drivers and Restraints
- 3.5. See-Saw Analysis
- 3.6. Porter's Five Force Model
- 3.6.1. Supplier Power
- 3.6.2. Buyer Power
- 3.6.3. Threat Of Substitutes
- 3.6.4. Threat Of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTEL Analysis
- 3.7.1. Political Landscape
- 3.7.2. Economic Landscape
- 3.7.3. Technology Landscape
- 3.7.4. Legal Landscape
- 3.7.5. Social Landscape
4. Wealth Management Software Market: By Advisory Mode, 2020-2030, USD (Million)
- 4.1. Market Overview
- 4.2. Growth & Revenue Analysis: 2021 Versus 2030
- 4.3. Market Segmentation
- 4.3.1. Human Advisory
- 4.3.2. Robo-advisory
- 4.3.3. Hybrid
5. Wealth Management Software Market: By Functionality, 2020-2030, USD (Million)
- 5.1. Market Overview
- 5.2. Growth & Revenue Analysis: 2021 Versus 2030
- 5.3. Market Segmentation
- 5.3.1. Financial Advice Management
- 5.3.2. Portfolio, Accounting, & Trading Management
- 5.3.3. Performance Management
- 5.3.4. Risk & Compliance Management
- 5.3.5. Reporting
- 5.3.6. Others (Client and Fund Management, Billing and Benchmarking, etc.)
6. Wealth Management Software Market: By Deployment Model, 2020-2030, USD (Million)
- 6.1. Market Overview
- 6.2. Growth & Revenue Analysis: 2021 Versus 2030
- 6.3. Market Segmentation
- 6.3.1. On-premise
- 6.3.2. Cloud
7. Wealth Management Software Market: By End-user, 2020-2030, USD (Million)
- 7.1. Market Overview
- 7.2. Growth & Revenue Analysis: 2021 Versus 2030
- 7.3. Market Segmentation
- 7.3.1. Banks
- 7.3.2. Investment Management Firms
- 7.3.3. Trading & Exchange Firms
- 7.3.4. Brokerage Firms
- 7.3.5. Others
8. North America Wealth Management Software Market, 2020-2030, USD (Million)
- 8.1. Market Overview
- 8.2. Wealth Management Software Market: By Advisory Mode, 2020-2030, USD (Million)
- 8.3. Wealth Management Software Market: By Functionality, 2020-2030, USD (Million)
- 8.4. Wealth Management Software Market: By Deployment Model, 2020-2030, USD (Million)
- 8.5. Wealth Management Software Market: By End-user, 2020-2030, USD (Million)
- 8.6.Wealth Management Software Market: By Region, 2020-2030, USD (Million)
- 8.6.1.North America
- 8.6.1.1. U.S.
- 8.6.1.2. Canada
- 8.6.1.3. Rest of North America
- 8.6.1.North America
9. UK and European Union Wealth Management Software Market, 2020-2030, USD (Million)
- 9.1. Market Overview
- 9.2. Wealth Management Software Market: By Advisory Mode, 2020-2030, USD (Million)
- 9.3. Wealth Management Software Market: By Functionality, 2020-2030, USD (Million)
- 9.4. Wealth Management Software Market: By Deployment Model, 2020-2030, USD (Million)
- 9.5. Wealth Management Software Market: By End-user, 2020-2030, USD (Million)
- 9.6.Wealth Management Software Market: By Region, 2020-2030, USD (Million)
- 9.6.1.UK and European Union
- 9.6.1.1. UK
- 9.6.1.2. Germany
- 9.6.1.3. Spain
- 9.6.1.4. Italy
- 9.6.1.5. France
- 9.6.1.6. Rest of Europe
- 9.6.1.UK and European Union
10. Asia Pacific Wealth Management Software Market, 2020-2030, USD (Million)
- 10.1. Market Overview
- 10.2. Wealth Management Software Market: By Advisory Mode, 2020-2030, USD (Million)
- 10.3. Wealth Management Software Market: By Functionality, 2020-2030, USD (Million)
- 10.4. Wealth Management Software Market: By Deployment Model, 2020-2030, USD (Million)
- 10.5. Wealth Management Software Market: By End-user, 2020-2030, USD (Million)
- 10.6.Wealth Management Software Market: By Region, 2020-2030, USD (Million)
- 10.6.1.Asia Pacific
- 10.6.1.1. China
- 10.6.1.2. Japan
- 10.6.1.3. India
- 10.6.1.4. Australia
- 10.6.1.5. South Korea
- 10.6.1.6. Rest of Asia Pacific
- 10.6.1.Asia Pacific
11. Latin America Wealth Management Software Market, 2020-2030, USD (Million)
- 11.1. Market Overview
- 11.2. Wealth Management Software Market: By Advisory Mode, 2020-2030, USD (Million)
- 11.3. Wealth Management Software Market: By Functionality, 2020-2030, USD (Million)
- 11.4. Wealth Management Software Market: By Deployment Model, 2020-2030, USD (Million)
- 11.5. Wealth Management Software Market: By End-user, 2020-2030, USD (Million)
- 11.6.Wealth Management Software Market: By Region, 2020-2030, USD (Million)
- 11.6.1.Latin America
- 11.6.1.1. Brazil
- 11.6.1.2. Mexico
- 11.6.1.3. Rest of Latin America
- 11.6.1.Latin America
12. Middle East and Africa Wealth Management Software Market, 2020-2030, USD (Million)
- 12.1. Market Overview
- 12.2. Wealth Management Software Market: By Advisory Mode, 2020-2030, USD (Million)
- 12.3. Wealth Management Software Market: By Functionality, 2020-2030, USD (Million)
- 12.4. Wealth Management Software Market: By Deployment Model, 2020-2030, USD (Million)
- 12.5. Wealth Management Software Market: By End-user, 2020-2030, USD (Million)
- 12.6.Wealth Management Software Market: By Region, 2020-2030, USD (Million)
- 12.6.1.Middle East and Africa
- 12.6.1.1. GCC
- 12.6.1.2. Africa
- 12.6.1.3. Rest of Middle East and Africa
- 12.6.1.Middle East and Africa
13. Company Profile
- 13.1. Comarch SA
- 13.1.1. Company Overview
- 13.1.2. Financial Performance
- 13.1.3. Product Portfolio
- 13.1.4. Strategic Initiatives
- 13.2. Dorsum Ltd.
- 13.2.1. Company Overview
- 13.2.2. Financial Performance
- 13.2.3. Product Portfolio
- 13.2.4. Strategic Initiatives
- 13.3. Fidelity National Information Services, Inc. (FIS)
- 13.3.1. Company Overview
- 13.3.2. Financial Performance
- 13.3.3. Product Portfolio
- 13.3.4. Strategic Initiatives
- 13.4. Finantix S.p.A
- 13.4.1. Company Overview
- 13.4.2. Financial Performance
- 13.4.3. Product Portfolio
- 13.4.4. Strategic Initiatives
- 13.5. Fiserv, Inc.
- 13.5.1. Company Overview
- 13.5.2. Financial Performance
- 13.5.3. Product Portfolio
- 13.5.4. Strategic Initiatives
- 13.6. Objectway S.p.A
- 13.6.1. Company Overview
- 13.6.2. Financial Performance
- 13.6.3. Product Portfolio
- 13.6.4. Strategic Initiatives
- 13.7. Profile Software
- 13.7.1. Company Overview
- 13.7.2. Financial Performance
- 13.7.3. Product Portfolio
- 13.7.4. Strategic Initiatives
- 13.8. SEI Investments Company
- 13.8.1. Company Overview
- 13.8.2. Financial Performance
- 13.8.3. Product Portfolio
- 13.8.4. Strategic Initiatives
- 13.9. SS&C Technologies, Inc.
- 13.9.1. Company Overview
- 13.9.2. Financial Performance
- 13.9.3. Product Portfolio
- 13.9.4. Strategic Initiatives
- 13.10. Temenos SA
- 13.10.1. Company Overview
- 13.10.2. Financial Performance
- 13.10.3. Product Portfolio
- 13.10.4. Strategic Initiatives
List of Tables
- TABLE 1 Global Wealth Management Software Market By Advisory Mode, 2020-2030, USD (Million)
- TABLE 2 Global Wealth Management Software Market By Functionality, 2020-2030, USD (Million)
- TABLE 3 Global Wealth Management Software Market By Deployment Model, 2020-2030, USD (Million)
- TABLE 4 Global Wealth Management Software Market By End-user, 2020-2030, USD (Million)
- TABLE 5 North America Wealth Management Software Market By Advisory Mode, 2020-2030, USD (Million)
- TABLE 6 North America Wealth Management Software Market By Functionality, 2020-2030, USD (Million)
- TABLE 7 North America Wealth Management Software Market By Deployment Model, 2020-2030, USD (Million)
- TABLE 8 North America Wealth Management Software Market By End-user, 2020-2030, USD (Million)
- TABLE 9 UK and European Union Wealth Management Software Market By Advisory Mode, 2020-2030, USD (Million)
- TABLE 10 UK and European Union Wealth Management Software Market By Functionality, 2020-2030, USD (Million)
- TABLE 11 UK and European Union Wealth Management Software Market By Deployment Model, 2020-2030, USD (Million)
- TABLE 12 UK and European Union Wealth Management Software Market By End-user, 2020-2030, USD (Million)
- TABLE 13 Asia Pacific Wealth Management Software Market By Advisory Mode, 2020-2030, USD (Million)
- TABLE 14 Asia Pacific Wealth Management Software Market By Functionality, 2020-2030, USD (Million)
- TABLE 15 Asia Pacific Wealth Management Software Market By Deployment Model, 2020-2030, USD (Million)
- TABLE 16 Asia Pacific Wealth Management Software Market By End-user, 2020-2030, USD (Million)
- TABLE 17 Latin America Wealth Management Software Market By Advisory Mode, 2020-2030, USD (Million)
- TABLE 18 Latin America Wealth Management Software Market By Functionality, 2020-2030, USD (Million)
- TABLE 19 Latin America Wealth Management Software Market By Deployment Model, 2020-2030, USD (Million)
- TABLE 20 Latin America Wealth Management Software Market By End-user, 2020-2030, USD (Million)
- TABLE 21 Middle East and Africa Wealth Management Software Market By Advisory Mode, 2020-2030, USD (Million)
- TABLE 22 Middle East and Africa Wealth Management Software Market By Functionality, 2020-2030, USD (Million)
- TABLE 23 Middle East and Africa Wealth Management Software Market By Deployment Model, 2020-2030, USD (Million)
- TABLE 24 Middle East and Africa Wealth Management Software Market By End-user, 2020-2030, USD (Million)
List of Figures
- FIG. 1 Global Wealth Management Software Market: Market Coverage
- FIG. 2 Research Methodology and Data Sources
- FIG. 3 Market Size Estimation - Top Down & Bottom-Up Approach
- FIG. 4 Global Wealth Management Software Market: Quality Assurance
- FIG. 5 Global Wealth Management Software Market, By Advisory Mode, 2021
- FIG. 6 Global Wealth Management Software Market, By Functionality, 2021
- FIG. 7 Global Wealth Management Software Market, By Deployment Model, 2021
- FIG. 8 Global Wealth Management Software Market, By End-user, 2021
- FIG. 9 Global Wealth Management Software Market, By Geography, 2021
- FIG. 10 Global Wealth Management Software Market, By Advisory Mode, 2021 Vs 2030, %
- FIG. 11 Global Wealth Management Software Market, By Functionality, 2021 Vs 2030, %
- FIG. 12 Global Wealth Management Software Market, By Deployment Model, 2021 Vs 2030, %
- FIG. 13 Global Wealth Management Software Market, By End-user, 2021 Vs 2030, %
- FIG. 14 U.S. Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 15 Canada Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 16 Rest of North America Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 17 UK Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 18 Germany Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 19 Spain Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 20 Italy Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 21 France Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 22 Rest of Europe Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 23 China Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 24 Japan Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 25 India Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 26 Australia Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 27 South Korea Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 28 Rest of Asia Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 29 Brazil Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 30 Mexico Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 31 Rest of Latin America Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 32 GCC Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 33 Africa Wealth Management Software Market (US$ Million), 2020 - 2030
- FIG. 34 Rest of Middle East and Africa Wealth Management Software Market (US$ Million), 2020 - 2030
