Wealth Management Software Market 2019 Global Industry Overview by New Trends, Size, Share, Growth, Segments, Emerging Technologies and Forecast 2023
The global wealth management software market is expected to generate a market value of USD 4 billion by 2023 growing at a 15% CAGR during the forecast period 2019–2023.
pune, India – August 7, 2019 /MarketersMedia/ —
The global wealth management software market is poised to touch a valuation of USD 4 BN by 2023, states Market Research Future (MRFR) in its recently published study report. Further, MRFR asserts that the market would register a CAGR of 15% throughout the forecast period (2018–2023). Stringent industry regulations and the increasing demand for their compliance fosters the growth of the market.
Wealth Management platform provides financial and investment advisory services for the individuals having high net worth as well as small business owners. Wealth management services include advice management, portfolio, accounting & trading management, fund management, client management, performance management, risk & compliance management, and reporting.
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Over the past few years, the wealth management platform market has been rising continually, mainly due to the increasing digitalization and high adoption of process automation by enterprises. Moreover, the rise in the number of high net worth individuals pushes the market forward on the global platform.
The Market Research Future (MRFR) in their report declared several factors that can influence the wealth management platform market in the coming days. These factors are rise in the number of high net worth individuals in both developed and emerging countries. At the same time, the inclusion of digitalization has made it easier to access report and achieve accuracy in calculation due to which the wealth management platform market can anticipate better growth opportunities. But dependency on traditional methods can dampen its market prospects.
Major Players:
Players leading the wealth management platform market include Broadridge Financial Solutions (US), SS&C Technologies (US), Comarch (Poland), Temenos (Switzerland), SEI Investment Company (US), Objectway (Italy), Fiserv Inc. (US), Dorsum Investment Software (Hungary), Profile Software (UK), Invest Edge (US), Finantix (Italy), and Fidelity National Information Services Inc. (US), among others.
Wealth Management Platform Market – Competitive Analysis
Highly competitive, the wealth management platform market appears to be fragmented characterized by the presence of several well-established players. To gain a competitive advantage in the market, players incorporate strategic initiatives, such as collaboration, acquisition, expansion, and technology launch.
Global Wealth Management Platform Market – Segments
The report segments the market into five key dynamics to widen the scope of understanding,
By Advisory Model: Robo-advisory, Human advisory, and Hybrid.
By Business Function: Portfolio, Reporting, and Financial Advice Management, among others.
By End-users: Banks, Brokerage Firms, and Investment Firms, among others.
By Deployment Model: On-cloud and On-premise.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
Industry News:
July 15, 2019 — The Skience Wealth Management (the US), a digital platform offering finance management consulting services within Salesforce’s cloud-based customer relationship management (CRM) platform, launched the new version of its wealth management platform – Skience 11.0 to enable advanced efficiency, scalability, and configuration.
The re-architected platform allows administrators to easily configure the user experience including application behavior, integrations, and data layouts via Skience’s data cloud, eliminating costly and frustrating delays caused by custom development work.
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Global Wealth Management Platform Market – Geographical Analysis
North American region is expected to remain the largest region in the global wealth management platform throughout the forecast period. The presence of key market players and well-developed economies, such as the US and Canada are likely to foster the regional market growth, emphasizing over innovating the existing solutions. Also, the growing high net individual worth in this region and the rising partnerships, mergers and acquisitions, and other business deals are estimated to contribute to the market growth in the region.
The Wealth Management Platform Market in the Asia Pacific region takes the second lead, globally. Due to the proliferation of rapid expansion of domestic enterprises and the development of infrastructure, the market is likely to grow at a rapid pace. Moreover, high demand for hybrid advisory by high net worth individuals would contribute to the market growth in this region.
Europe, wealth management platform market, is growing steadily. High growth in the adoption of wealth management platform, across the growing number of Banking and financial companies, propels the growth of the regional market. Growth in technological advancements drive the usage of wealth management platforms.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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