Mumbai – Research On Global Markets, a global market research firm, published a report on the global robo-advisory market today. The report, prepared by Netscribes, shows that the global robo-advisory market is set to expand at a compound annual growth rate (CAGR) of 53.54% and reach a market size of USD 73.70 Bn by 2023.
Robo-advisors are algorithm-based digital platforms that collect information from customers through online surveys to understand their financial objectives and goals. Technological advancements and increased internet penetration are the primary growth drivers for the growth of the global robo-advisory market. Diversified services offered by entrants are also expected to proliferate growth of the market.
However, the credibility of financial advice provided and the possibilities of conflicts of interests of the clients are expected to limit the growth of the global robo-advisory market. Also, robustness and transparency of algorithms, and consumer disengagement of business models can act as challenges for the overall growth of the market.
Key highlights of this report:
• Current market demand, along with expected demand for robo-advisory services from the various types of robo-advisors, including pure and hybrid ones
• Current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) market size data for the robo-advisory market
• Analysis of company profiles of major players operating in the market
• Key opportunities for the robo-advisory market
• Market trends in the global robo-advisory market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for robo-advisors to determine the viability of the market, so that they can develop strategies based on the drivers, trends and highlights for each of the segments. The report will help brands identify their major competitors and respond accordingly.
For more information, download the Global Robo-advisory Market Report :