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Robo Advisory Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

June 2023 | 135 pages | ID: RABB52D5F98BEN
IMARC Group

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The global robo advisory market size reached US$ 7.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 35.6 Billion by 2028, exhibiting a growth rate (CAGR) of 28.4% during 2023-2028.

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 2023-2028. 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 Vermцgensverwaltung 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 2022?
2. What is the expected growth rate of the global robo advisory market during 2023-2028?
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?
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
10.2 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
10.3 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
10.4 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
10.5 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 Vermцgensverwaltung 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

LIST OF TABLES

Table 1: Global: Robo Advisory Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Robo Advisory Market Forecast: Breakup by Business Model (in Million US$), 2023-2028
Table 3: Global: Robo Advisory Market Forecast: Breakup by Service Type (in Million US$), 2023-2028
Table 4: Global: Robo Advisory Market Forecast: Breakup by Provider (in Million US$), 2023-2028
Table 5: Global: Robo Advisory Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 6: Global: Robo Advisory Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Robo Advisory Market: Competitive Structure
Table 8: Global: Robo Advisory Market: Key Players


LIST OF FIGURES

Figure 1: Global: Robo Advisory Market: Major Drivers and Challenges
Figure 2: Global: Robo Advisory Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Robo Advisory Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Robo Advisory Market: Breakup by Business Model (in %), 2022
Figure 5: Global: Robo Advisory Market: Breakup by Service Type (in %), 2022
Figure 6: Global: Robo Advisory Market: Breakup by Provider (in %), 2022
Figure 7: Global: Robo Advisory Market: Breakup by End User (in %), 2022
Figure 8: Global: Robo Advisory Market: Breakup by Region (in %), 2022
Figure 9: Global: Robo Advisory (Pure Robo Advisors) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Robo Advisory (Pure Robo Advisors) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Robo Advisory (Hybrid Robo Advisors) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Robo Advisory (Hybrid Robo Advisors) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Robo Advisory (Direct Plan-Based/Goal-Based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Robo Advisory (Direct Plan-Based/Goal-Based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Robo Advisory (Comprehensive Wealth Advisory) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Robo Advisory (Comprehensive Wealth Advisory) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Robo Advisory (Fintech Robo Advisors) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Robo Advisory (Fintech Robo Advisors) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Robo Advisory (Banks) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Robo Advisory (Banks) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Robo Advisory (Traditional Wealth Managers) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Robo Advisory (Traditional Wealth Managers) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Robo Advisory (Other Providers) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Robo Advisory (Other Providers) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Robo Advisory (Retail Investor) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Robo Advisory (Retail Investor) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Robo Advisory (High Net Worth Individuals-HNIs) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Robo Advisory (High Net Worth Individuals-HNIs) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: North America: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: North America: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: United States: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: United States: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Canada: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Canada: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Asia-Pacific: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Asia-Pacific: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: China: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: China: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Japan: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Japan: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: India: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: India: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: South Korea: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: South Korea: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Australia: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Australia: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Indonesia: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Indonesia: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Others: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Others: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Europe: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Europe: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Germany: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Germany: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: France: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: France: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: United Kingdom: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: United Kingdom: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Italy: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Italy: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Spain: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Spain: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Russia: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Russia: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Others: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Others: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Latin America: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Latin America: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Brazil: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Brazil: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Mexico: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Mexico: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Others: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Others: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Middle East and Africa: Robo Advisory Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Middle East and Africa: Robo Advisory Market: Breakup by Country (in %), 2022
Figure 77: Middle East and Africa: Robo Advisory Market Forecast: Sales Value (in Million US$), 2023-2028
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


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