Robo-Advisory Software Market Seen Soaring 25.1% Growth by 2030, Projects Univdatos Market Insights
- Vikas Kumar
- November 14, 2023
- NEWS, TELECOM & IT
- Robo-Advisory Software Market Analysis, Robo-Advisory Software Market Forecast, Robo-Advisory Software Market Growth, Robo-Advisory Software Market Outlook, Robo-Advisory Software Market Share, Robo-Advisory Software Market Size, Robo-Advisory Software Market Trends
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The Robo-Advisory Software Market was valued at 300 million in 2022 and is expected to grow at a steady rate of around 25.1% in the forecasted period (2023-2030) owing to the growing prevalence of smartphones and the increase in the number of internet users worldwide. Robo-advisory software is a type of software that provides automated investment management services to clients. It uses algorithms and machine learning to analyze market data, determine optimal investment strategies, and execute trades on behalf of clients. This offers a range of services, including portfolio management, tax-loss harvesting, and automatic rebalancing. They also provide real-time access to account balances, investment performance, and market news.
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Rapid digitalization in financial services and technological innovations in digital investment platforms are driving the robo-advisory software market. As more and more people turn to digital platforms for their financial needs, the demand for automated investment services has grown. Robo-advisory software offers a cost-effective and convenient way for individuals to invest their money, and the technology behind it is constantly improving, making it easier for people to manage their finances. Additionally, the rise of FinTech has made it easier for robo-advisory firms to reach a wider audience, and the increasing availability of data and analytics has made it possible for these platforms to provide more personalized investment advice. Overall, the trend towards digitalization in financial services and the increasing availability of robo-advisory software is likely to continue driving growth in this market.
Fig. 1. Applications of Robo-advisory software
Some of the recent developments are:
- In Feb 2021, Marcus, a digital investment platform launched by The Goldman Sachs Group, Inc., will be focused on managing and adjusting customers’ portfolios consisting of stocks and bonds.
- In Mar 2022, flatexDEGIRO, the largest and fastest-growing online broker for retail investors in Europe, has signed an agreement with Whitebox, a well-known independent robo-advisor, to extend their existing business partnership. This partnership aims to provide a fully digital investment solution to flatex customers in Germany. The goal is to begin this offering with flatex.
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Conclusion
The robo-advisory software market is expected to continue growing in the coming years due to the increasing demand for automated investment services, technological innovations, and the trend toward digitalization in financial services. The availability of robo-advisory platforms that offer low-cost investment options, personalized advice, and easy-to-use interfaces is making it easier for individuals to manage their finances. Additionally, the rise of FinTech has made it easier for robo-advisory firms to reach a wider audience, and the increasing availability of data and analytics has made it possible for these platforms to provide more personalized investment advice. Overall, the robo-advisory software market is likely to continue to be a key player in the financial technology space in the future.
