APAC Wealth Management - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)
The APAC Wealth Management Market size in terms of assets under management value is expected to grow from USD 31.80 trillion in 2024 to USD 46.98 trillion by 2029, at a CAGR of 8.12% during the forecast period (2024-2029).
The Asia-Pacific wealth management market is a financial service providing high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) with wealth management solutions. Economic growth, rising affluence, and demand for personalized financial solutions are the factors that drive the market’s growth. The market provides industry participants in the Asia-Pacific region immense opportunities for increasing digital transformation, ESG investing, cross-border wealth management, and family office services.
The primary factor that acts as the driver of the market is the digitalization of wealth management services. The current high-net-worth (HNW) clients primarily rely on digital means to manage their wealth. Also, customer loyalty has increased due to the increased usage of digital platforms for wealth management because data analytics has enhanced investors' returns on investment (ROI).
The increasing adoption of advanced technologies like chatbots, robo-advisors, IoT, AI, and big data analytics has led to the growth of the Asia-Pacific wealth management market. Due to the increased development of digitalization, wealth management providers are quickly investing in client engagement by providing digital and voice-enabled assistants.
APAC Wealth Management Market Trends
Fintech Drives the Market
Wealth managers rapidly invest in new technologies like robo-advisor, artificial intelligence (AI), robotic process automation, and digital identification (ID) technologies to enhance customer experience. Fintechs consist of a vast range of technologies that improve and automate the delivery process of financial services. As robo-advisor technology consists of automated & algorithm-based systems to provide customized portfolio management advice to customers, this technology is popular among wealth management providers. Since the growth of Fintechs improves efficiency and transparency in wealth management business operations, it increases market development.
China Dominates the Market
The wealth management market is famous in China because of its high income. Factors like minimizing unnecessary taxes and strengthening financial security have increased the demand for financial advisors. Many international financial institutions have enterprises approved by the China Securities Regulatory Commission for providing asset management and brokerage services within China. The rapid increase in advanced technology and evolving customer segments contributes to the significant market growth in China. Also, the presence of management service sectors like banks, wealth management firms, investment advisors, and insurance companies supports the market’s growth.
APAC Wealth Management Industry Overview
The Asia-Pacific wealth management market is consolidated. Major players are penetrating the market through mergers and acquisitions and traditional investment opportunities, making the Asia-Pacific wealth management market very competitive and robust. Some of the key players in the market are Aberdeen Standard Investments, China Life Private Equity, UBS, BlackRock, and ICICI Prudential Asset Management.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
The Asia-Pacific wealth management market is a financial service providing high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) with wealth management solutions. Economic growth, rising affluence, and demand for personalized financial solutions are the factors that drive the market’s growth. The market provides industry participants in the Asia-Pacific region immense opportunities for increasing digital transformation, ESG investing, cross-border wealth management, and family office services.
The primary factor that acts as the driver of the market is the digitalization of wealth management services. The current high-net-worth (HNW) clients primarily rely on digital means to manage their wealth. Also, customer loyalty has increased due to the increased usage of digital platforms for wealth management because data analytics has enhanced investors' returns on investment (ROI).
The increasing adoption of advanced technologies like chatbots, robo-advisors, IoT, AI, and big data analytics has led to the growth of the Asia-Pacific wealth management market. Due to the increased development of digitalization, wealth management providers are quickly investing in client engagement by providing digital and voice-enabled assistants.
APAC Wealth Management Market Trends
Fintech Drives the Market
Wealth managers rapidly invest in new technologies like robo-advisor, artificial intelligence (AI), robotic process automation, and digital identification (ID) technologies to enhance customer experience. Fintechs consist of a vast range of technologies that improve and automate the delivery process of financial services. As robo-advisor technology consists of automated & algorithm-based systems to provide customized portfolio management advice to customers, this technology is popular among wealth management providers. Since the growth of Fintechs improves efficiency and transparency in wealth management business operations, it increases market development.
China Dominates the Market
The wealth management market is famous in China because of its high income. Factors like minimizing unnecessary taxes and strengthening financial security have increased the demand for financial advisors. Many international financial institutions have enterprises approved by the China Securities Regulatory Commission for providing asset management and brokerage services within China. The rapid increase in advanced technology and evolving customer segments contributes to the significant market growth in China. Also, the presence of management service sectors like banks, wealth management firms, investment advisors, and insurance companies supports the market’s growth.
APAC Wealth Management Industry Overview
The Asia-Pacific wealth management market is consolidated. Major players are penetrating the market through mergers and acquisitions and traditional investment opportunities, making the Asia-Pacific wealth management market very competitive and robust. Some of the key players in the market are Aberdeen Standard Investments, China Life Private Equity, UBS, BlackRock, and ICICI Prudential Asset Management.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Diverse Range of Investment Opportunities in the Region Drives the Market
4.3 Market Restraints
4.3.1 Regulatory Challenges and Evolving Compliance Requirements
4.4 Market Oppurtunities
4.4.1 Technological Advancements in Wealth Management Market
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technology Innovations in the Market
4.7 Insights into Regulatory Landscape Governing the Market
4.8 Impacts of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Client Type
5.1.1 HNWI
5.1.2 Retail/Individuals
5.1.3 Other Client Types (Financial Institutions Like Pension Funds, Insurance Companies, etc.)
5.2 By Provider
5.2.1 Private Banks
5.2.2 Independent/External Asset Managers
5.2.3 Family Offices
5.2.4 Other Providers (Fintech Advisors, etc.)
5.3 By Geography
5.3.1 India
5.3.2 Japan
5.3.3 China
5.3.4 Singapore
5.3.5 Indonesia
5.3.6 Malaysia
5.3.7 Vietnam
5.3.8 Hong Kong
5.3.9 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 UBS
6.2.2 Citi Private Bank
6.2.3 HSBC Private Bank
6.2.4 Aberdeen Standard Investments
6.2.5 Credit Suisse
6.2.6 BlackRock
6.2.7 Franklin Templeton
6.2.8 ICICI Prudential Asset Management
6.2.9 BNP Paribas Wealth Management
6.2.10 China Life Private Equity*
7 MARKET FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Diverse Range of Investment Opportunities in the Region Drives the Market
4.3 Market Restraints
4.3.1 Regulatory Challenges and Evolving Compliance Requirements
4.4 Market Oppurtunities
4.4.1 Technological Advancements in Wealth Management Market
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technology Innovations in the Market
4.7 Insights into Regulatory Landscape Governing the Market
4.8 Impacts of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Client Type
5.1.1 HNWI
5.1.2 Retail/Individuals
5.1.3 Other Client Types (Financial Institutions Like Pension Funds, Insurance Companies, etc.)
5.2 By Provider
5.2.1 Private Banks
5.2.2 Independent/External Asset Managers
5.2.3 Family Offices
5.2.4 Other Providers (Fintech Advisors, etc.)
5.3 By Geography
5.3.1 India
5.3.2 Japan
5.3.3 China
5.3.4 Singapore
5.3.5 Indonesia
5.3.6 Malaysia
5.3.7 Vietnam
5.3.8 Hong Kong
5.3.9 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 UBS
6.2.2 Citi Private Bank
6.2.3 HSBC Private Bank
6.2.4 Aberdeen Standard Investments
6.2.5 Credit Suisse
6.2.6 BlackRock
6.2.7 Franklin Templeton
6.2.8 ICICI Prudential Asset Management
6.2.9 BNP Paribas Wealth Management
6.2.10 China Life Private Equity*
7 MARKET FUTURE TRENDS
8 DISCLAIMER AND ABOUT US
