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Global Wealth Management Platform Market to Reach USD 10,268.9 Million by 2027, Aided by Rising Shift Toward Digital Investment Management Solutions

According to a new report by EMR titled, ‘Global Wealth Management Platform Market Report and Forecast 2022-2027’, the global wealth management platform market reached a value of about USD 4,778.7 million in 2021. The industry is further expected to grow at a CAGR of about 13.9% in the forecast period of 2022-2027 to reach a value of around USD 10,268.9 million by 2027.

The global wealth management platform industry is expected to be driven by the constant rise in the number of global high net worth individuals (HNWIs), process automation, and compliance with stringent industry regulations. It has emerged as an effective, low-cost alternative for retail investors and comes with certain benefits, such as low-cost fee structure, ease of use, low to zero account minimums, and diversified services, which is why it is expected to gain traction during the forecast period. The wealth management firms are expected to gain traction among various end-user industries, owing to the increase in wealth of individuals, healthy economic growth across the globe, and the need for compliance with regulations. The trading and exchange firms’ segment is expected to grow, owing to the increased inclination of customers toward trading and exchange to improve the financial gains. Government officials in the region have focused their efforts on credit seekers in order to promote people's financial inclusion, thus, augmenting the economic growth. The global economy is expected to strengthen over the forecast period, and banks are anticipated to play a crucial role in managing the growing assets and wealth of individuals. Banks are leveraging wealth management software to ensure a client-centric approach which will further drive the market growth.

Companies in the sector are focusing on cooperating with government entities to speed up development. In June 2021, BMO Harris Bank extended its partnership with financial technology company Fidelity National Information Services, Inc. (NYSE: FIS) by embarking on a multi-year transformation of its core banking systems to support its expansion goals in the United States. BMO will use the FIS Modern Banking Platform to power an extended retail digital platform, which will provide the United States consumers with a variety of mobile-first deposit and checking options accounts.

Market Analysis by Deployment Type, End Use, and Regions:

  • Based on deployment type, the market is divided into on-premises and cloud. 
  • Banks, trading firms, brokerage firms, and investment management firms, among others are the end users of the industry.
  • The regional markets for wealth management platform include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Vendors' expanding business expansions, mergers and acquisitions, joint ventures, and other inorganic methods are likely to be essential factors in driving the market's growth.
  • Another factor driving the market revenue is the country's expanding digitisation in the banking industry.
  • Technological advancements are fostering financial technologies or fintech firms, further enhancing the market demand.
  • The rising disposable income of individuals globally is constantly increasing global high-net-worth individuals, thereby driving the growth of the market.

Key Offerings of the report:

  • The EMR report gives an overview of the global wealth management platform industry for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for deployment type, end user, and major regions of wealth management platform.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global wealth management platform industry include Avaloq Group AG, Temenos AG, Fidelity National Information Services, Inc., Backbase B.V, and Prometeia S.p.A, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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