1. Home
  2. > Financial Services Market Trends
Global Robo Advisory Market Size, Share & Industry Trends Analysis Report By Provider, By End User, By Service Type, By Type, By Regional Outlook and Forecast, 2022 - 2028

Global Robo Advisory Market Size, Share & Industry Trends Analysis Report By Provider, By End User, By Service Type, By Type, By Regional Outlook and Forecast, 2022 - 2028

  • October 2022
  • 221 pages
  • ID: 6364728
  • Format: PDF
  • KBV Research


Table of Contents

The Global Robo Advisory Market size is expected to reach $24 billion by 2028, rising at a market growth of 29.9% CAGR during the forecast period.

The term "robo-advisor" refers to the algorithm- and computer-driven financial planning that involves very minimal human intervention. Additionally, the robo-advisor collects financial information from clients through the use of an online survey. This information includes the clients’ present financial condition as well as their future financial aspirations. In addition, by making use of this information, robo-advisers can provide their customers with several benefits, including expedited account creation, portfolio management, and safety measures.

Several of the world’s fastest-growing economies are putting pressure on regional companies to step up their testing and investigation of robo-advisory services. A subcategory of financial counselors known as robo-advisors or robo-advisers, robo-advisors provide clients with financial advice and administration of their investments online while requiring only moderate to low levels of human participation.

They offer digital financial advice based on mathematical principles or algorithms and supply it to customers. Programmers are responsible for encoding these algorithms into the software once they have been devised by data scientists, investment managers, and financial advisers. Because these algorithms are carried out by software, the provision of financial advice to a customer does not necessitate the involvement of a human adviser.

The program makes use of its algorithms to automatically allot resources owned by customers in a manner that is both manageable and optimized for either short-term or long-term investment. The level of personalization, discretion, engagement and human connection offered by robo-advisors is one of the criteria used to classify these digital financial advisers. There are approximately a hundred different robo-advisory services available.

COVID – 19 Impact Analysis

COVID had a good effect on the robo-advisory business. Backend benchmarking, which analyses performance by opening portfolios at top robo-advisors, revealed that the majority of portfolios handled by digital advisors performed similarly throughout market fluctuations. The number of users on an online wealth management platform or robo-advising in wealth management has doubled as the coronavirus puts an increasing number of advisers into lockdown. From the perspective of wealth management organizations, advisers are managing customers who have been personally and financially impacted by the coronavirus.

Market Growth Factors

Financial services are experiencing rapid digitalization

Digitization has been one of the most commonly embraced solutions in the financial services industry for enhancing core processing capabilities and providing enhanced client services and insights. Moreover, almost fifty percent of financial services have been related to investments. They have been able to reach a big portion of the public that has access to traditional consulting owing to budgetary restraints, so filling this need. In recent years, the financial services business has been modernizing and aiding advising services.

Automated wealth management using digital technology

In businesses such as asset management, banking, and insurance, the digital revolution is changing traditional business landscapes. FinTech, an acronym for financial technology, has evolved as a consequence of the ongoing evolution of technology. The wealth management (WM) business is undergoing profound change. A new generation of investors, molded by new technology and having lived through the last financial crisis, has introduced new criteria for the delivery of investment advice and products.

Market Restraining Factors

The Risk Involved with Robo-advisory Software, such as cyberattacks or IT errors

Robo-advisory software platforms are wholly reliant on technological systems, which might expose investors to possible risk circumstances stemming from cyberattacks or IT malfunctions or outages. If the instrument lacks sufficient protection, hackers may have several opportunities to steal data and funds. Because financial institutions rely on a great deal of vital and secret customer information, it is imperative to guarantee that employees implement the necessary security measures.

Provider Outlook

On the basis of Provider, the Robo Advisory Market is divided into Fintech Robo Advisors, Banks, Traditional Wealth Managers, and Others. The banks segment recorded a substantial revenue share in the robo advisory market in 2021. It is because banks are continually working to improve the quality of the experience, they provide their customers by digitalizing their products and services. The rise in popularity of digitalized solutions for opening a bank account, particularly among smaller financial institutions, is helping to feed the need for chat-based robo-advising.

End User Outlook

Based on the End User, the Robo Advisory Market is bifurcated into Retail Investors and High Net Worth Individuals. The retail investor’s segment witnessed a substantial revenue share in the robo-advisory market in 2021. An individual investor is a non-professional investor who purchases and sells securities or funds that hold a basket of assets, such as mutual funds and exchange-traded funds. A retail investor is also known as an individual investor. Retail investors are also known as individual investors (ETFs). The majority of trades made by retail investors are conducted through either conventional or online brokerage companies, in addition to other forms of investment accounts.

Service Type Outlook

By Service Type, the Robo Advisory Market is classified into Direct Plan-based/Goal-based and Comprehensive Wealth Advisory. The direct plan-based/goal-based segment garnered the highest revenue share in the robo advisory market in 2021. Investors place a high value on robo-ability advisors to provide them with features such as comprehensive goal planning, investment management, security features, and responsive customer care. Customers who use goal-based robo-advisors, that provide risk profiling and goal-based suggestions, can run scenarios on goal planning and are prompted to take actions that will increase their chances of success.

Type Outlook

Based on the Type, the Robo Advisory Market is segmented into Pure Robo Advisors and Hybrid Robo Advisors. The hybrid robo advisors segment acquired the highest revenue share in the robo advisory market in 2021. It is because the demand for hybrid robo advisors is increasing as a result of the fact that these advisors mix the efficacy and stability of robotic systems with the human component of a personal financial adviser. This combination is expected to fuel the expansion of the category.

Regional Outlook

Region-wise, the Robo Advisory Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region procured the highest revenue share in the robo advisory market in 2021. It is anticipated that the existence of several significant firms, including Betterment, the Vanguard Group, Inc., and others, would contribute to the expansion of the robo-advising business in the United States. For example, The Vanguard Group, Inc. announced that it will be launching its robo-advice service in September 2019.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wealthify Limited (Aviva plc), The Charles Schwab Corporation, Betterment LLC, Fincite GmbH, Wealthfront Corporation, The Vanguard Group, Inc., Ellevest, Inc., Ginmon Vermögensverwaltung GmbH, SigFig Wealth Management, LLC and Social Finance.

Scope of the Study

Market Segments covered in the Report:

By Provider

• Fintech Robo Advisors

• Banks

• Traditional Wealth Managers

• Others

By End User

• High Net Worth Individuals

• Retail Investor

By Service Type

• Direct Plan-based/Goal-based

• Comprehensive Wealth Advisory

By Type

• Hybrid Robo Advisors

• Pure Robo Advisors

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific


o Brazil

o Argentina


o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Wealthify Limited (Aviva plc)

• The Charles Schwab Corporation

• Betterment LLC

• Fincite GmbH

• Wealthfront Corporation

• The Vanguard Group, Inc.

• Ellevest, Inc.

• Ginmon Vermögensverwaltung GmbH

• SigFig Wealth Management, LLC

• Social Finance

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Grace helps you find the right report:

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

The State of Embedded Retail Brokerage Services

  • $ 4500
  • December 2022
  • 4 pages

This IDC Perspective provides a timely commentary on the state of embedded retail brokerage services against the backdrop of increasing adoption of embedded finance and banking-as-a-service solutions. ...

  • World
  • Financial Services
  • Wealth Management
  • Industry analysis
  • Asset Under Management


Reportlinker.com © Copyright 2023. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on