1 Global Wealthtech Market Size (Revenue) and CAGR (2024-2033)
Global Wealthtech market generated revenue of USD 14797.74 Million in 2024 with a CAGR of 23.9% during 2024 to 2033.
The current situation of the Wealthtech market is characterized by rapid innovation and adoption of digital solutions across various segments. The industry has witnessed substantial growth in recent years, primarily due to the integration of artificial intelligence, big data, and other emerging technologies into financial services. These advancements have not only enhanced the efficiency and accessibility of wealth management but also democratized investment opportunities for a broader audience. The market is highly dynamic, with both established financial institutions and fintech startups competing to offer innovative solutions such as robo-advisors, digital brokerage platforms, and personalized investment tools.
Figure Global Wealthtech Market Size (M USD) Outlook (2024-2033)
2 Wealthtech Market Drivers
Table Market Drivers
Market Drivers | Description |
Technology promotes industry development | Since the world has been connected to the Internet, digital information technology represented by artificial intelligence, big data, cloud computing, and the Internet of Things has gradually broken through the scope of the traditional information industry and has become the core infrastructure supporting and driving the sustainable development of various industries. Around the world, major economies, as well as international organizations such as the United Nations and the World Bank, have introduced a number of policies and measures to help the development of the digital economy. For the financial industry, the characteristics of the financial market, the competitive landscape, and the business model will all be redefined and analyzed by the “financial technology” driven by digital technology. With the 5G network as the underlying communication foundation, the deep integration of artificial intelligence, big data, cloud computing, Internet of Things and other emerging disruptive technologies with financial services can promote the continuous optimization and continuous optimization of financial product design, business models, business processes, and service quality. Innovation, in turn, provides a steady stream of innovative vitality for financial development. Thus, promoted the development of Wealthtech industry. |
People’s investment needs increase | The dividends brought about by peace, development, and reforms show a change in the income structure from a pyramid to a spindle, which means that the population whose income is in the “middle class” state has grown substantially. With the increase in income, people’s material and spiritual needs are also increasing. The most prominent are the needs in the fields of consumption and social interaction, but the existing supply is far from enough. Therefore, the Robo-advisors solutions launched by major Wealthtech companies, such as robo-advisors, have met people’s needs to a certain extent. Moreover, the demand for personalized investment solutions is also rising. Thus, it has stimulated the development of the industry. |
3 Global Wealthtech Market by Type in 2024
The global Wealthtech industry is characterized by a diverse range of product types, each catering to specific needs within the financial technology landscape. In 2024, the market was segmented into two primary product types: Software and Service.
Software
Software-based Wealthtech solutions refer to digital platforms and tools designed to automate and enhance wealth management processes. These include robo-advisors, portfolio management systems, and other AI-driven applications that provide personalized investment advice and asset management services. In 2024, the software segment accounted for a significant portion of the global Wealthtech market, with a value of $10,692.84 million USD. This segment held a market share of 72.26%, making it the dominant product type within the industry.
Service
Service-based Wealthtech solutions, on the other hand, focus on providing consulting, advisory, and support services to clients. These services often involve human advisors who offer personalized financial planning, investment advice, and portfolio management. In 2024, the service segment had a market value of $4,104.89 million USD, representing a market share of 27.74%.
In summary, the Wealthtech market in 2024 was dominated by software-based solutions, which accounted for 72.26% of the total market value. These solutions leveraged advanced technologies such as AI and machine learning to provide efficient and personalized wealth management services. However, service-based solutions also played a vital role, particularly for clients seeking personalized financial advice. Both segments demonstrated strong growth, with software solutions experiencing a particularly rapid expansion due to their ability to meet the evolving needs of modern investors. As the industry continues to evolve, the integration of technology and human expertise will remain crucial in driving the future of Wealthtech.
Table Global Wealthtech Market Size and Share by Type in 2024
Type | Market Size (M USD) | Market Share (%) |
|---|---|---|
Software | 10,692.84 | 72.26 |
Service | 4,104.89 | 27.74 |
Total | 14,797.74 | 100.00 |
4 Global Wealthtech Market by Application in 2024
The Wealthtech market is not only defined by its product types but also by its diverse applications, each targeting specific segments of the financial services industry. In 2024, the market was segmented into four primary applications: Robo-advisors, Retail Investment, Digital Brokerage, and Others.
Robo-advisors
Robo-advisors are automated investment platforms that use algorithms and machine learning to provide personalized investment advice and portfolio management services. These platforms are designed to offer cost-effective and scalable solutions, making wealth management accessible to a broader audience. In 2024, the robo-advisor segment had a market value of $9,600.76 million USD, accounting for 64.88% of the total Wealthtech market. This dominant position can be attributed to the increasing demand for automated investment solutions, particularly among younger and tech-savvy investors.
Retail Investment
Retail investment platforms focus on providing accessible and low-cost investment opportunities for individual investors. These platforms often target younger demographics and those with smaller amounts of capital to invest. In 2024, the retail investment segment had a market value of $531.12 million USD, representing a market share of 3.59%.
Digital Brokerage
Digital brokerage platforms provide online trading services, enabling investors to buy and sell securities through digital interfaces. These platforms often offer a range of investment products, including stocks, bonds, and ETFs, and are designed to provide a seamless and efficient trading experience. In 2024, the digital brokerage segment had a market value of $3,114.09 million USD, accounting for 21.04% of the total Wealthtech market.
In summary, the Wealthtech market in 2024 was dominated by robo-advisors, which accounted for 64.88% of the total market value. These platforms leveraged advanced technologies to provide efficient and personalized investment solutions, making wealth management accessible to a broader audience. The digital brokerage segment also played a significant role, particularly in the online trading landscape. Both robo-advisors and digital brokerage platforms demonstrated strong growth, driven by the increasing demand for cost-effective and accessible financial solutions. As the industry continues to evolve, the integration of technology and personalized services will remain crucial in driving the future of Wealthtech.
Table Global Wealthtech Market Size and Share by Application in 2024
Application | Market Size (M USD) | Market Share (%) |
|---|---|---|
Robo-advisors | 9,600.76 | 64.88 |
Retail Investment | 531.12 | 3.59 |
Digital Brokerage | 3,114.09 | 21.04 |
Others | 1,551.77 | 10.49 |
Total | 14,797.74 | 100.00 |
5 Global Wealthtech Market by Region in 2024
The global Wealthtech market has experienced significant growth and expansion in recent years, driven by technological advancements and the increasing demand for digital financial solutions. In 2024, the market was segmented across several major regions, each contributing uniquely to the overall industry landscape. North America, Europe, Asia-Pacific, South America, and the Middle East & Africa all played crucial roles in shaping the market dynamics.
North America emerged as the largest regional market by revenue in 2024, with a market value of $10,363.34 million USD. This region accounted for 70.03% of the global Wealthtech market, driven primarily by the United States and Canada. The dominance of North America can be attributed to the early adoption of advanced technologies, a well-established financial infrastructure, and a high concentration of leading fintech companies. The region’s robust regulatory environment and consumer preference for digital solutions further fueled its growth.
Europe followed as the second-largest regional market, with a value of $2,458.12 million USD and a market share of 16.61%. The European Wealthtech market benefited from strong regulatory support, particularly through initiatives like the EU’s General Data Protection Regulation (GDPR) and the Payment Services Directive 2 (PSD2). These regulations not only enhanced data security but also encouraged innovation and competition among fintech companies. Additionally, the region’s diverse financial landscape, with a mix of traditional banks and emerging fintech startups, contributed to its dynamic growth.
The Asia-Pacific region, although smaller in market share compared to North America and Europe, demonstrated the fastest growth rate. In 2024, the Asia-Pacific Wealthtech market was valued at $1,634.11 million USD, representing a market share of 11.04%. The region’s rapid growth can be attributed to several factors, including the increasing penetration of mobile internet, the rise of digital-native consumers, and the growing demand for personalized financial services. Countries like China and India, with their large populations and rapidly developing economies, played a pivotal role in driving the region’s expansion.
South America and the Middle East & Africa also contributed to the global Wealthtech market, with values of $203.23 million USD and $138.94 million USD, respectively. While these regions had smaller market shares of 1.37% and 0.94%, they showed potential for future growth, driven by increasing digital adoption and economic development.
Table Global Wealthtech Market Size, Region Wise in 2024
Region | Market Size (M USD) | Market Share (%) |
|---|---|---|
North America | 10,363.34 | 70.03 |
Europe | 2,458.12 | 16.61 |
Asia-Pacific | 1,634.11 | 11.04 |
South America | 203.23 | 1.37 |
Middle East & Africa | 138.94 | 0.94 |
Total | 14,797.74 | 100.00 |
Figure Global Wealthtech Market Share, Region Wise in 2024
6 Global Wealthtech Market Top 3 Players
Company Introduction and Business Overview: The Vanguard Group Inc. is one of the largest fund management companies in the United States, known for its innovative and cost-effective investment solutions. Established in 1975, the company has a strong reputation for offering a wide range of investment products and services, including mutual funds, ETFs, and robo-advisory platforms.
Products Offered: Vanguard’s flagship product is the Vanguard Digital Advisor®, which provides automated investment management services at a low cost. The platform uses advanced algorithms to create and manage diversified portfolios tailored to individual investors’ goals and risk profiles. Additionally, Vanguard offers a variety of mutual funds and ETFs that cater to different investment strategies and asset classes.
Revenue in 2021: In 2021, The Vanguard Group Inc. reported a revenue of $767.84 million USD. The company’s robust product offerings and strong market position have enabled it to maintain a competitive edge in the Wealthtech industry.
Company Introduction and Business Overview: Charles Schwab Corporation, founded in 1971, is a leading wealth management company headquartered in San Francisco, California. The company offers a wide range of financial services, including brokerage, banking, and investment advisory services. Schwab is known for its commitment to innovation and customer-centric solutions.
Products Offered: Schwab’s primary product is the Schwab Intelligent Portfolios, a robo-advisory platform that builds, monitors, and rebalances diversified portfolios based on individual goals and risk tolerance. The platform offers low-cost investment options, including ETFs, and provides 24/7 support to users. Additionally, Schwab offers traditional brokerage services and financial planning tools.
Revenue in 2021: In 2021, Charles Schwab Corporation reported a revenue of $225.22 million USD. The company’s strong brand recognition and diverse product offerings have contributed to its continued growth in the Wealthtech market.
Company Introduction and Business Overview: eToro, established in 2007, is a global financial technology leader known for its innovative trading platform. Headquartered in the UK, eToro has gained popularity for its user-friendly interface and social trading features. The platform allows users to copy the trades of experienced traders, making it accessible to both novice and experienced investors.
Products Offered: eToro’s flagship product is the CopyTrader™ feature, which enables users to automatically replicate the trades of top-performing traders. The platform also offers a wide range of investment options, including stocks, cryptocurrencies, and ETFs. Additionally, eToro provides educational resources and community features to enhance users’ trading experience.
Revenue in 2021: In 2021, eToro reported a revenue of $309.96 million USD. The company’s unique social trading model and global reach have positioned it as a significant player in the Wealthtech market.
Table Global Wealthtech Revenue of Top3 Players in 2021
Company | 2021 |
The Vanguard Group Inc. | 767.84 |
Charles Schwab Corporation | 225.22 |
eToro | 309.96 |