The new report by Expert Market Research titled, ‘Global Wealth Management Platform Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global wealth management platform market, assessing the market based on its segments like deployment type, end user, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 3.3 Billion
- Forecast CAGR (2022-2027): 13.6%
- Forecast Market Size (2027): USD 7.1 Billion
The financial investment firms are expected to adopt a wealth management platform due to its capability to provide a modern and comprehensive front-to-back multi-asset portfolio management solution which will help them to reduce back-office costs, improve systematic transfer plan (STP) and client service. The Wealth Management Platform boosts the trust of banks clients’ since they believe their investments are safe, resulting in more robust interaction and increased investment willingness. The platform is projected to meet the increased demand for advisory services while also reducing administrative and operational costs, resulting in a considerable rise in the advisory network’s efficacy and efficiency. Banking institutions are primarily concerned with improving client experience by offering integrated solutions via unified platforms. Banks are undergoing the replacement of legacy, in-house core banking systems to transform them into the next generation banking and financial service providers. Several banks are launching wealth management platforms that will drive the growth of the market. The increased demand for decision assistance, portfolio management, and trading solutions across a variety of programs can be contributed to the market’s growth.
Industry Definition and Major Segments
The word “wealth management” refers to a financial planning, investment management, and other types of financial guidance provided by an investment and consulting firm. Asset management services are typically supplied to clients such as high net worth individuals and businesses who seek financial guidance from a financial specialist and normally include all the client’s financial assets. Asset management services are targeted at enhancing the client’s wealth.
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By deployment type, the market includes:
- On-Premises
- Cloud
The end users of the market are divided into:
- Banks
- Trading Firms
- Brokerage Firms
- Investment Management Firms
- Others
On the basis of region, the industry is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Digitalisation has proliferated awareness for a cashless economy, which in turn, has increased optimisation of process automation of wealth management practices. This is a key factor expected to drive the growth of the global wealth management platform industry. The rising disposable income of individuals across the globe is constantly increasing global high-net-worth individuals. Also, rising awareness for long-term financial planning opportunities and benefits, high in a statement from working-class populations among regions, has increased. The wealth management platform market in trading and exchange organisations is predicted to grow as a result of broad and ongoing changes in technology capabilities in the wealth management industry. The increasing number of small and medium enterprises in emerging economies are expected to create growth opportunities for the wealth management software providers in the region.
Latest News on Wealth Management Platform Market: https://www.expertmarketresearch.com/pressrelease/global-wealth-management-platform-market
Key Market Players
The major players in the market are Avaloq Group AG, Temenos Headquarters SA, Fidelity National Information Services, Inc., Prometeia S.p.A, and Backbase, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.
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