Product ID: SQMIG45E2090
Global Wealth Management Market Size, Share, Growth Analysis, By Business Model(Human Advisory, Robo Advisory (Direct Plan-Based/Goal-Based), By Provider(FinTech Advisors, Banks), By Services(Asset Management, Portfolio Management), By End User(Insurance Companies, Pension Funds) - Industry Forecast 2024-2031
Report ID:
SQMIG45E2090 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
124 |
Figures:
77
Global Wealth Management Market Insights
Wealth Management Market size was valued at USD 3.75 billion in 2019 and is poised to grow from USD 4.27 billion in 2023 to USD 12.07 billion by 2031, growing at a CAGR of 13.9% in the forecast period (2024-2031).
The primary factors driving the global wealth management market include rapid demand for alternative assets such private equity, commodities, hedge funds, real estate investment trusts (REITS), and intellectual property. In addition, the emergence of FinTechs (financial technology) has severely impacted the wealth management industry. Major advantages offered by wealth management, such as assisting in reducing financial stress and developing financial plans, as well as the widespread adoption of digitalized offerings, are enhancing market growth. But the lack of pricing transparency, higher fees, and strict government laws and regulations for wealth management firms are some of the factors that limit the market.
As a result of the growing demand for wealth management product lines from high net worth and ultra-high net worth individuals, particularly in emerging economies like China, India, Indonesia, Malaysia, the Philippines, Taiwan, and Thailand, wealth management companies, on the other hand, have a lot of room to grow in these markets. In addition, wealth management companies are moving quickly towards digitalizing their business processes. As a result, the adoption and implementation of technologies like chatbots, big data analytics, the Internet of Things (IoT), and artificial intelligence (Al) have increased significantly. These advancements are expected to generate new market opportunities in the coming years.
US Wealth Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Wealth Management Market Report Snapshots
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