The Global Wealth Management Software Market- Growth, COVID-19 impact and Forecast (2021-2025)
The wealth Management Software Market is segmented by Advisory Model (Human Advisory, Robo Advisory, and Hybrid); Deployment Type (Cloud, On-premises); End-users (Banks, Investment Management Firms, Trading and Exchange Firms, Reporting and Others); Geography (North America, Europe, APAC and ROW).
Introduction
Wealth Management is an investment and consulting service that provides financial planning, investment management, and other forms of financial advice. In order to streamline these processes, many financial advisors have started using these wealth management software systems.
Factors such as shifting focus towards digital platforms, rising need to streamline financial operations, rise in the number of global High Net Worth Individuals (HNWIs) are fueling the market growth. However, lack of awareness and inadequate technical expertise among business professionals are some of the factors that are hampering the growth of the document management systems market.
The COVID-19 pandemic has positively impacted the importance of wealth management software systems in the healthcare industry as it is widely used in financial planning. Moreover, the need for this software is also increased in other essential end-user industries during this pandemic situation.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6. Five Force analysis
7. Market Sizing
8. Market segmentation
9. Geographical Landscape
9.1 APAC
9.2 Europe
9.3 North America
9.4 ROW
10. Growth drivers
10.1 Evolving digitalization and process automation
10.2 Compliance with stringent industry regulations
11. Key Market Trends
12. Impact of Covid-19
13. Challenges
14. Customer Insights analysis
15. Major Market Players
15.1 Comarch
15.2 Dorsum Ltd
15.3 Fidelity National Information Services
15.4 InvestCloud
15.5 Fiserv
15.6 Objectway
15.7 Temenos
15.8 SEI Investment Company
15.9 Investedge
15.10 Dorsum
16. Recent Developments
17. Future Scope
18. Strategic Recommendations
Market Overview
The Global wealth management software market is expected to grow to $6.40 billion by 2025.
Growth momentum is expected to accelerate during the forecast period with 13.69% CAGR.
Robo advisory mode is expected to grow at significant rate during forecast period as it is highly accurate, efficient, and more accessible in comparison to other modes.
North America dominated the market in 2020 due to increasing number of HNWIs in the region.
Key Trends
The increasing need to adhere the compliance requirements and the benefits of digitalizing the content across the firm for easy accessibility are anticipated to drive the market in near future.
The rising innovations in the FinTech Industry, adoption of Blockchain and AI are expected to fuel the market demand during the forecast period.
Key Market Players
Some of the key players in the market are Comarch, Dorsum Ltd, Fidelity National Information Services, InvestCloud, Fiserv, Objectway.
In recent years, the key market players are adopting various strategies initiatives such as new product launches and focus on continuous technology innovations, M&A to increase their market share. Moreover, vendors are focusing on offering hybrid services, including personalized and standardized advice to their clients globally.
Growth Drivers and Challenges
Evolving digitalization and process automation to optimize wealth management practices are driving the market.
Compliance with stringent industry regulations is also a key driver that is fueling the market growth.