Dublin, Sept. 02, 2024 (GLOBE NEWSWIRE) -- The "Wealthtech Solutions Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global wealthtech solutions market size has grown rapidly in recent years. It will grow from $4.72 billion in 2023 to $5.42 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. During the historic period, growth can be credited to the emergence of online trading platforms, the rise of robo-advisors, the early adoption of mobile banking apps, the expansion of mutual funds and ETFs, and the introduction of low-cost trading options.
The wealthtech solutions market is expected to see rapid growth in the next few years. It will grow to $9.43 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period is anticipated due to the increasing interest in digital financial services, enhancements in customer service, improvements in cybersecurity, the rise of digital wealth management platforms, and the growing popularity of sustainable investing. Key trends expected in this period include the widespread adoption of AI and machine learning, integration of blockchain technology, innovative wealthtech solutions, increased use of cloud computing, and the adoption of big data analytics.
The increasing interest in digital financial services (DFS) is expected to drive growth in the wealthtech solutions market. For example, according to FedPayments Improvement in May 2024, digital wallets and mobile apps saw adoption by 62% of businesses in 2023, up significantly from 47% in 2022. This trend underscores the increasing adoption and demand for digital financial services, driving growth in the wealthtech solutions market.
Leading companies in the wealthtech solutions market are actively innovating in portfolio-management software to maintain a competitive edge. For instance, in July 2022, Bricknode, a Sweden-based wealthtech company, launched Investment Manager, a new portfolio management software application. This tool allows investors, including small family offices and corporate investors, to consolidate all their assets and liabilities, analyze investment performance, and manage portfolios effectively. The Investment Manager software is designed to streamline investment tracking, enhance performance analysis, and automate accounting processes, thereby offering comprehensive support for wealth management activities in the digital age.
In January 2022, FundThrough, a Canadian financial technology platform company, completed the acquisition of BlueVine for an undisclosed sum. This acquisition is designed to bolster FundThrough's capabilities in embedded finance, strengthen its footprint in the US market, facilitate greater funding transactions, and enhance cash flow solutions for small businesses. BlueVine, headquartered in the US, specializes in providing invoice wealthtech solutions tailored for small enterprises.
North America was the largest region in the wealthtech solutions market in 2023. The regions covered in the wealthtech solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the wealthtech solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Where is the largest and fastest growing market for wealthtech solutions? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The wealthtech solutions market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Markets Covered:
1) By Components: Solution; Services
2) By Deployment Mode: Cloud; On-Premises
3) By Organization Size: Large Enterprises; Small And Medium-Sized Enterprises (SMEs)
4) By End User: Banks; Investment Firms; Wealth Management Firms; Other End-Users
Key Companies Mentioned: JPMorgan Chase & Co.; Bank of America; Citigroup Inc.; Wells Fargo & Company; BNP Paribas
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $5.42 Billion |
| Forecasted Market Value (USD) by 2028 | $9.43 Billion |
| Compound Annual Growth Rate | 14.9% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- JPMorgan Chase & Co.
- Bank of America
- Citigroup Inc.
- Wells Fargo & Company
- BNP Paribas
- Goldman Sachs
- Barclays PLC
- FMR LLC
- BlackRock Inc.
- State Street Global Advisors
- The Vanguard Group Inc.
- Lightspeed POS
- Paymentus Holdings Inc.
- Angel One Limited
- Verafin
- Wealthfront Corporation
- DriveWealth LLC
- Aixigo AG
- Valuefy
- Moxtra
- Trackinsight SAS
- WealthTechs Inc.
- Advisor Software (ASI)
- Bridge Financial Technology
For more information about this report visit https://www.researchandmarkets.com/r/7q6edy
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