Wealth Management Market Recorded a 4.52% Y-O-Y Growth Rate in 2021 | Technological Advances is a Major Trend Fueling Market|Technavio

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NEW YORK, June 20, 2022 /PRNewswire/ — The wealth management market size is expected to grow by USD 318.95 billion from 2020 to 2025 at a CAGR of 8% as per the latest market report by Technavio. Technological advance is a major trend supporting the global wealth management market share growth. The vendors operating in the global wealth management market are deploying automation via tools such as artificial intelligence (AI) and machine learning. These tools continue to drive improved productivity and effectiveness, improving cost reduction and helping in exploring new revenue streams through scalable and tailored solutions. The introduction of robotics process automation (RPA) has further streamlined back-office operations. Moreover, wealth management companies are deploying AI tools to ease the KYC process in client onboarding, reduce cost, and offer a better customer experience.

Technavio has announced its latest market research report titled Wealth Management Market by Geography – Forecast and Analysis 2021-2025

 For more highlights on the market trends – Request a sample report

Read the 120-page report with TOC on “Wealth Management Market Analysis Report forecast 2021-2025”. Gain competitive intelligence about market leaders. Track key industry opportunities, trends, and threats. Information on marketing, brand, strategy and market development, sales, and supply functions. https://www.technavio.com/report/report/wealth-management-market-industry-analysis

Get ready to achieve excellent business outcomes from this exclusive Wealth Management Market report by Technavio. The report will include highlights of the overall market which includes frequently asked questions such as –

  • What are historical revenue figures and estimated revenue figures as well as CAGR during the forecast timeframe?

  • What is the current trend taking place in the market space?

  • Which are business tactics that will influence competitive scenarios along with defining the growth potential of the market?

  • What are market drivers, restraints, and challenges impacting demand & growth of the market?

  • Which regions & segments will garner massive revenue and emerge as market leaders in upcoming years?

The competitive scenario provided in the Wealth Management Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don’t wait, Make a strategic approach & boost your business goals with our Wealth Management Market Forecast Report – Buy Now!

Some of the key Wealth Management Players:

The wealth management market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.

  • Allianz Group

  • Bank of America Corp.

  • BlackRock Inc.

  • CREDIT SUISSE GROUP AG

  • Fidelity Investments Inc.

  • JPMorgan Chase & Co.

  • Morgan Stanley Co. LLC

  • State Street Corp.

  • The Vanguard Group Inc.

  • UBS Group AG

  • To know about the vendor offerings –Click Now!

Wealth Management Market: Driver

  • The rising number of high-net-worth individuals (HNWIs) globally is a major factor driving the global wealth management market share growth.

  • In the last few years, there has been a global rise in the number of HNWIs globally. An HNWI is generally someone with a net worth of at least $1 million in cash or cash equivalents. These HNWIs are offered special services such as investment in reputable private equity and hedge funds and the opportunity to be a part of pre-IPO placements and pre-ICO sales of any venture. With larger levels of investment and wealth portfolios, HNWIs require experienced and tactical services to allocate their finances.

  • These HNWIs rely on wealth managers or wealth advisors, who are specialized in their respective fields, to manage their portfolios, estate planning, asset protection, and tax management. Among all regions, North America witnessed the highest growth rate of around 11% in both the HNWI population and wealth in 2019. With such a steady rise in the number of HNWIs, the demand for financial services will increase, which will drive the growth of the market during the forecast period.

Wealth Management Market: Challenges

  • The impact of COVID-19 will be a major challenge for the global wealth management market share growth during the forecast period.

  • In 2020, the global economy faced the adverse impact of coronavirus disease (COVID-19), which resulted in a global lockdown. According to the Federal Emergency Management Agency (FEMA), around 40% of businesses have failed to operate due to the pandemic, and more than 25% of businesses are expected to fail within a year in the US owing to the novel pandemic. The investors witnessed a direct impact on their portfolios due to the high level of volatility and initial market drops. The vendors operating in the global wealth management market also witnessed a loss in terms of a fall in the overall net interest income.

  • The global high-net-worth (HNW) wealth declined by 4% in 2020 as compared to 2019. Moreover, it is anticipated that the growth outlook for assets under management (AUM) in developed markets will grow at a slower rate from 2019 to 2024. However, as the market slowly recovers from the crisis, the demand for wealth management services will increase during the forecast period.

The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge – For more highlights on market dynamics –Grab an Exclusive Sample Report

Related Reports:

  • The money transfer agencies’ market share is expected to increase to USD 13.89 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 10.34%.

  • The unsecured business loans market share is expected to increase to USD 5.85 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 16.19%.

Wealth Management Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 8%

Market growth 2021-2025

USD 318.95 billion

Market structure

Fragmented

YoY growth (%)

4.52

Performing market contribution

APAC at 41%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Allianz Group, Bank of America Corp., BlackRock Inc., CREDIT SUISSE GROUP AG, Fidelity Investments Inc., JPMorgan Chase & Co., Morgan Stanley Co. LLC, State Street Corp., The Vanguard Group Inc., and UBS Group AG

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Content

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem

  • 2.3 Value chain analysis

3 Market Sizing

  • 3.1 Market definition

  • 3.3 Market size 2020

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Customer landscape

  • 5.1 Customer landscape

6 Geographic Landscape

7 Drivers, Challenges, and Trends

  • 7.2 Market challenges

  • 7.3 Market trends

8 Vendor Landscape

  • 8.1 Competitive scenario

  • 8.2 Vendor landscape

  • 8.3 Landscape disruption

  • 8.4 Industry risks

9 Vendor Analysis

  • 9.1 Vendors covered

  • 9.3 Allianz Group

  • 9.5 BlackRock Inc.

  • 9.8 JPMorgan Chase & Co.

  • 9.10 State Street Corp.

  • 9.12 UBS Group AG

10 Appendix

  • 10.1 Scope of the report

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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