The global WealthTech solutions market revenue was around US$ 6.3 billion in 2023 and is estimated to reach US$ 21.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 14.8% during the forecast period from 2022 to 2031.
WealthTech solutions help consumers with excessively high net worth and are utilized for handling wealth planning. The solutions offer different benefits like asset liquidity, enhanced portfolio management, cost transparency, and augmented customer service. Moreover, WealthTech solutions let businesses determine new-generation customer requirements for large banks and small consulting firms, like automated rebalancing, tech-enabled financial solutions, and portfolio creation.
Factors Influencing Market Growth
- The growth in investment firms, the popularity of AI-based assistance in banks, and wealth management firms, and the rising implementation of automation solutions are propelling the growth of the WealthTech solutions market.
- Security and privacy issues have appeared as key industry issues due to the comprehensive flow of customer data.
- The rise in demand for predictive analytics technology is propelling the growth of the WealthTech solutions market.
Impact of COVID-19
The impact of the COVID-19 pandemic had a negative influence on the WealthTech solutions market since huge losses were incurred by all the companies due to business troubles in all the industry verticals because of the nationwide lockdown by governments. As a result of this change, the possibility of non-performing assets and credit loss increased, while banks encountered unanticipated asset liability management (ALM) model results.
Regional Analysis
In 2023, North America dominated the global WealthTech solution market in terms of revenue. This is attributed to the fact that the wealth management business in this region has grown with the development of innovative and new business operating models and hostile efforts by new competitors to capture a share of the world's largest market for investment protection.
Also, private firms and banks, on the other hand, are increasingly demanding more from their wealth management consultants, resulting in a substantial demand for advanced financial advice that is tailored to their specific requirements.
Leading Companies
The leading prominent companies profiled in the global WealthTech solutions market are: -
- 3rd eyes Anayltics
- Aixigo AG
- BlackRock, Inc.
- BME inntech
- InvestCloud, Inc.
- InvestSuite
- Synechron
- Valuefy
- Wealthfront Corporation.
- WealthTechs Inc.
- Other prominent key players
Segmentation Outline
The global WealthTech solutions market segmentation focuses on Component, Deployment Mode, Enterprise Size, End User, and Region.
Segmentation based on Component
- Solution
- Service
Segmentation based on Deployment Mode
- On-Premise
- Cloud
Segmentation based on Enterprise Size
- Large Enterprises
- Small and Medium-sized Enterprises
Segmentation based on End User
- Banks
- Wealth Management Firms
- Others
Segmentation based on Region
- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa