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Wealth Management Platform Market is expected to exhibit massive growth during 2023-2032 owing to the emergence of innovative technologies including AI and blockchains. These advancements have been assisting key players in revolutionizing new operating models to offer credits to several individuals and businesses. The data-driven AI wealth management platform is also slated to speed up the digital investment process, augmenting market expansion.
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Wealth Management Platform Market Trends, Analysis & Forecast, 2032
Industry Insights • As per a recent research report, Wealth Management Platform Market to surpass USD 10 Bn by 2032. • Wealth Management Platform Market is expected to exhibit massive growth during 2023-2032 owing to the emergence of innovative technologies including AI and blockchains. These advancements have been assisting key players in revolutionizing new operating models to offer credits to several individuals and businesses. The data-driven AI wealth management platform is also slated to speed up the digital investment process, augmenting market expansion. • In addition, several initiatives taken by the government and regulations to escalate the use of wealth management platforms will drive industry growth by 2032. Besides, increasing government inclination towards credit seekers to increase the financial inclusion of people will spur the industry expansion.
Based on advisory mode, the human advisory segment held more than 60% market share in 2022 and is projected to exhibit massive growth through 2032. The growth can be attributed to the wealth management sector's growing security concerns, encouraging HNWIs (high-net-worth individuals) to turn to human advisory services. • By deployment model, the cloud-based wealth management systems are expected to depict commendable CAGR through the forecast timeframe. Cloud-based wealth management systems are gaining strong traction among finance-based enterprises owing to their benefits including easier setup, flexibility required for remote work, and lower investment in infrastructure. The cost-effectiveness and scalability offered by the cloud platforms will further support segment expansion in the future. • On the basis of application, the performance management segment will grow significantly as the system helps align the employees with the corporate goals. Performance management tools enable firms to perform fair, periodic inspections while expediting the performance management process, which will further aid the segment in future growth.
Regional Analysis Asia Pacific wealth management platform market is anticipated to register notable gains through the estimated timeframe. The growth can be accredited to the constantly increasing digital transformation of the financial institutions in the region. In addition, consulting companies in APAC are collaborating with wealth management software providers to focus on the rising digital transformation of financial institutions, which will boost wealth management platform penetration in the region. • Competitive Analysis • SS&C Technologies Holdings, Inc., Fiserv, Inc., Broadridge, FIS Global, Avaloq, Prometeia, and InvestCloud
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