MENA Wealth Management Market: Current Analysis and Forecast (2023-2030)
Emphasis on Business Model (Human Advisory, Robo Advisory, and Hybrid Advisory); Provider (FinTech Advisors, Banks, Traditional Wealth Managers, and Others); Country.
Geography:
Last updated:
Mar 2024
The MENA Wealth Management market was valued at USD 1,882.26 million in the year 2022 and is expected to grow at a strong CAGR of around 3.9% during the forecast period. Due to the increasing economic development, rising wealth levels, and a growing population of high-net-worth individuals, there is a burgeoning demand for sophisticated financial services and investment solutions. Moreover, demographic trends such as aging populations and the growing importance of intergenerational wealth transfer are driving the need for comprehensive financial planning and retirement solutions. Additionally, the adoption of digital technologies, including robo-advisory services and online platforms, is reshaping the wealth management landscape, offering clients convenient access to personalized investment advice and portfolio management tools. Despite regulatory complexities and competition from traditional and digital players, the wealth management market in the MENA region presents significant opportunities for firms to expand their offerings, tap into new market segments, and drive growth.
Some of the major players operating in the market include NCB Capital Markets. Ltd.; Investcorp; Riyad Capital; Lazard, Inc.; anb capital Company (CJS); Aljazira Capital; Emirates NBD Bank (P.J.S.C.); Waha Capital PJSC; QNB; KIB Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst business model, the human advisory category dominates the MENA wealth management market.”
Based on the business model, the market is segmented into human advisory, robo-advisory, and hybrid advisory. Among them, the human advisory category dominates the MENA wealth management market due to several key factors as the human advisory business model dominates the MENA wealth management market by offering personalized service, expertise, and trust that resonate with the cultural values and expectations of clients in the region. Despite the rise of digital solutions and automation, human advisors remain indispensable partners for affluent individuals and families seeking comprehensive wealth management solutions tailored to their needs and aspirations.
“Amongst provider, the traditional wealth managers category dominates the MENA wealth management market”
Based on the provider, the market is segmented into fintech advisors, Banks, traditional wealth managers, and others. Among them, the traditional wealth managers category dominates the MENA wealth management market due to the combination of established reputation, localized expertise, personalized service, comprehensive solutions, and extensive network positions traditional wealth managers as the dominant players in the MENA wealth management market, catering to the diverse needs and preferences of affluent clients in the region.
“UAE is Expected to Witness the Fastest CAGR During the Forecast Period”
In the UAE, the wealth management market is thriving due to its status as a global financial center and a hub for high-net-worth individuals. The country’s favorable business environment, tax incentives, and robust regulatory framework attract wealth management firms and investors alike. Additionally, the UAE’s strategic location, well-developed infrastructure, and connectivity to global markets make it an attractive destination for wealth management activities. The adoption of digital technologies, such as robo-advisory services and online trading platforms, is further driving the growth of the wealth management market in the UAE, offering clients innovative and convenient investment solutions. For instance, in January 2023, Emirates NBD Securities, a leading brokerage firm in the UAE, partnered with the Abu Dhabi Securities Exchange (ADX) to provide traders with instant access to the exchange’s listed companies, enabling it to offer instant trading account opening and digital onboarding to another UAE stock exchange.
MENA Wealth Management Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The MENA wealth management market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to contact us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the MENA Wealth Management Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the MENA wealth management market were the three major steps undertaken to create and analyze the adoption of Home Healthcare in major countries in MENA. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the MENA Wealth Management Market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the MENA Wealth Management Market through company internal sources such as annual reports & and financial statements, performance presentations, press releases, etc., and external sources including journals, news & and articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the MENA Wealth Management Market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & and sub-segments for major regions. Major segments are included in the report as business model and provider. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the MENA Wealth Management Market. Further, we conducted factor analysis using dependent and independent variables such as the business model and provider of the MENA Wealth Management Market. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the MENA Wealth Management Market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MENA Wealth Management Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the MENA Wealth Management Market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the MENA Wealth Management Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the MENA Wealth Management Market. data was split into several segments and sub-segments after studying various parameters and trends in the areas of the business model and provider in the MENA Wealth Management Market.
The main objective of the MENA Wealth Management Market Study
The current & and future market trends of the MENA Wealth Management Market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the MENA Wealth Management Market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
- Segments in the study include areas of the business model and provider.
- Define and analysis of the regulatory framework for the surgical instrument
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the MENA Wealth Management Market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
- Company profiles of the MENA Wealth Management Market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry.
Frequently Asked Questions FAQs
Q1: What is the current market size and growth potential of the MENA Wealth Management Market?
Q2: What are the driving factors for the growth of the MENA Wealth Management Market?
Q3: Which segment has the largest share of the MENA Wealth Management Market by provider?
Q4: What are the emerging technologies and trends in the MENA Wealth Management Market?
Q5: Which region will dominate the MENA Wealth Management Market?
Q6: Who are the key players operating in the MENA Wealth Management Market?
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