Wealth Management Market to grow by USD 325.56 billion between 2022 to 2027, 42% of the market's growth to originate from North America- Technavio

NEW YORK, Sept. 6, 2023 /PRNewswire/ -- The wealth management market size is expected to grow by USD 325.56 billion from 2022 to 2027, progressing at a CAGR of 7.02% as per the latest Technavio market research report. North America is going to have lucrative growth during the forecast period. About 42% of the market's overall growth is expected to originate from North America. The report has been segmented by segment (human advisory, hybrid advisory, and robo advisory), end-user (banks, trading and exchange firms, investment management firms, brokerage firms, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa).  Discover insights on market size before buying the full report- Download a FREE sample report

Geography Overview:

• North America will contribute 42% to the growth of the global market during the forecast period. The market growth can be attributed to factors such as the requirement to minimize unnecessary taxes and strengthen financial security. Also, rapid technological advances and evolving customer segments drive the demand for the market in the region. For now, get a snapshot of the comprehensive report Download a FREE Sample

Wealth Management Market: Segment Overview

• The market share growth by the human advisory segment is significant during the forecast period. Individuals and organizations need human advisory services to make informed decisions about their wealth management. Income, expenses, assets, liabilities, and investment preferences are some advantages offered by the human advisory segment. It offers suggestions for budgeting and expense tracking and enables users to create budgets, categorize expenses, and monitor their spending habits. Hence, such advantages are expected to fuel the growth of this segment during the forecast period.

Key Factor driving market growth - 

• The rising demand for alternative investment support from the government drives the growth of the wealth management market.
• Alternative investments are preferred over conventional forms of investments by HNIs and UHNWIs.
• Major advantages include diversification, a reduction in portfolio-related risks, and low transaction costs.
• Additionally, they have an expensive fee structure when compared to other investments such as mutual funds and exchange-traded funds (ETFs).
• Hence, such factors boost the growth of the wealth management market during the forecast period.

Recent trends influencing the market- 

• The change in demographic shift creating wealth management opportunities is an emerging trend in the market.
• The world witnesses a growing Gen Y population and the number of women billionaires across the world.
• Consequently, wealth management firms have become essential to strategically introduce investment portfolios in order to gain a competitive advantage.
• Hence, such trends fuel the growth of the wealth management market during the forecast period.

Major challenges hindering the market growth-

• Transaction risks challenge the growth of the wealth management market. Drivers, Trends, and Challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in the Wealth Management Market reports:

• Historic Market size
• Company landscape and analysis including Allianz SE, Bank of America Corp., BlackRock Inc., BNP Paribas SA, Citigroup Inc., FMR LLC, Fiserv Inc., HSBC Holdings Plc, JPMorgan Chase and Co., Julius Baer Group Ltd., Morgan Stanley, One Wam Ltd., Pictet Group Entities, PricewaterhouseCoopers LLP, State Street Corp., The Charles Schwab Corp., The Goldman Sachs Group Inc., The Vanguard Group Inc., UBS Group AG, and Wells Fargo and Co.
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Related Reports:

The Plant Asset Management (PAM) market size is estimated to grow at a CAGR of 7.09% between 2022 and 2027. The market size is forecast to increase by USD 2,016.89 million. 

The Facilities Management (FM) Market size is estimated to grow at a CAGR of 9.29% between 2022 and 2027. The market size is forecast to increase by USD 730.53 billion. 

ToC

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Business Segment

7 Market Segmentation by End-user

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

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SOURCE Technavio