Robo Advisory Market

Robo Advisory Market Size by Type (Hybrid Robo Advisors, Pure Robo Advisors), Provider (Banks, Fintech Robo Advisors, Traditional Wealth Managers, Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Base Year: 2022 Historical Data: 2019-21
  • Report ID: TBI-13900
  • Published Date: Dec, 2023
  • Pages: 238
  • Category: Information Technology & Semiconductors
  • Format: PDF
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The global robo advisory market was valued at USD 5.82 Billion in 2022, which is anticipated to grow at a CAGR of 32.64% from 2023 to 2032. The financial industry's broad digitalization is anticipated to fuel demand for robo advisors by providing users with tech-enabled insights that robo advisors offer for investment consultations. Another driver of market growth is the quick transition away from traditional investment services and towards robo advising investment services. Additionally, the scope of growth for robo advisors has been enabled by the fact that investment platforms are increasingly providing robo-advisers as new digital financial advisors in addition to traditional investment services.

Market Introduction:

The term "robo advisory" describes the provision of automated, algorithm-based investment services and financial advice. It provides investment advice and portfolio management without requiring human participation by fusing technology and financial knowledge. In order to deliver individualised investment strategies, robo-advisors use sophisticated algorithms to assess an investor's financial status, goals, risk tolerance, and other relevant aspects. Due to the growing number of netizens worldwide and the increasing ubiquity of smartphones, robo advising services have seen significant popularity in recent years. Additionally, robo advising services are popular and practical choices for investors since they give customers rapid access to affordable fund investments, a factor that significantly boosts the growth of the robo advisory market. Furthermore, to provide automated investing advice, robo-advisors make use of cutting-edge technology including artificial intelligence (AI), machine learning (ML), and data analytics. Robo-advisors are able to analyse enormous volumes of data, evaluate market patterns, and deliver clients individualised investing recommendations due to these technological advancements. The accuracy and effectiveness of robo advising platforms have increased due to the increasing sophistication of these technologies, drawing in more investors. As a result, these elements significantly encourage the robo advising market's expansion. Nonetheless, growing security issues pose serious obstacles to the expansion of the robo advising business. Moreover, robo advising platform adoption has been slower among older investors, despite their potential for higher wealth and assets. This can be explained by a number of things, including a dislike of digital platforms, a preference for in-person contacts, and worries about the security of online financial transactions. Consequently, the slower adoption rate among elderly investors may constrain the growth potential of the robo advising sector.

Robo Advisory Market Size

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Recent Development
  • M&G Wealth announced the debut of a hybrid robo-advisor in January 2023. This new platform calculates each customer's risk tolerance, financial status, and level of financial literacy using an algorithm. Investors can choose between "classic" and "targeted" portfolios using the platform, which is accessible as a web application and an app for iOS and Android. It is expected that these product introductions would aid in the expansion of the Robo-Advisory sector.
  • In March 2022, digital wealth manager Whitebox, an independent robo-advisor for retail investors, and flatexDEGIRO AG, the largest and fastest-growing online broker in Europe for retail investors, announced the signing of a Memorandum of Understanding (MoU) to extend their long-standing B2B partnership. Whitebox and flatexDEGIRO work together to provide flatexDEGIRO's clients with a fully digital investment solution. It is expected that these collaborations would boost the expansion of the Robo-Advisory market.

Market Dynamics:


Demand for individualised financial plans- An alternative to traditional financial counsellors is the rise of robo-advisors. The capacity of robo-advisors to provide individualised financial advice is a critical component of their viability. Personalised investment solutions are becoming more and more popular among investors. In the new era of investment management, companies who can provide customised solutions at scale are getting an advantage over their competitors. In recent years, it has become increasingly necessary for clients to have highly automated, personalised investing solutions. The roboadvisory business is growing due in part to an increasing demand for customised investment strategies from a variety of end users, including institutional clients, retail investors, and others. Personalised robo-advisory solutions provide recommendations and material that are specific to the needs and interests of the user. Customers can receive tailored emails, newsletters, and notifications from roboadvisors, for example, with pertinent information, advice, and updates on the performance of their portfolios, market trends, and financial objectives. Additionally, businesses can recommend appropriate goods, services, and approaches to their clients based on their risk tolerance, time horizon for investments, and financial requirements by utilising data analytics and machine learning. Consequently, rising demand for customised investment options will propel the robo-advisory market's expansion.


Limited flexibility- Throughout the projection period, it is expected that the market's growth will be constrained by the robo advisers' restricted flexibility. Furthermore, it is anticipated that the absence of in-person interactions between advisors and investors will impede consulting and impede market expansion. While some investors find automated services convenient, others enjoy personal interaction and the opportunity to talk with a financial advisor about their investments. Some people may not be able to get the complex financial or emotional support they require from robo-advisory platforms.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global robo advisory market, with a 31.49% market revenue share in 2022. The existence of multiple notable entities, including Betterment, the Vanguard Group, Inc., and others, is anticipated to enhance the expansion of the robo advising business in the United States. For example, The Vanguard Group, Inc. announced the debut of their robo-advice service in September 2019. The company claims that by launching the service currently, errors will be reduced and calculations would be completed more quickly because human interaction will no longer be necessary.

North America Region Robo Advisory Market Share in 2022 - 31.49%

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Type Segment Analysis

The type segment is divided into hybrid robo advisors and pure robo advisors. The hybrid robo advisors segment dominated the market, with a market share of around 68.41% in 2022. The need for hybrid robo advisors—which mix the human element of a personal financial advisor with the efficiency and reliability of robotic algorithms—is rising as this market is expected to expand. Furthermore, hybrid robo advisers provide clients access to a live, in-person conversation to talk about their finances, which adds even more piece of mind.

Provider Segment Analysis

The provider segment is divided into banks, fintech robo advisors, traditional wealth managers, and others. The fintech robo advisors segment dominated the market, with a market share of around 27.54% in 2022. Globally, fintech companies rely on both automated and personalised consulting services. Fintech companies also use cutting-edge technologies like quantitative finance and advanced analytics to quickly implement robo advisers. Retail investors will not have to make bad investment choices because of this deployment's accurate and trustworthy advising services.

Some of the Key Market Players:
  • Fincite GmbH
  • The Vanguard Group, Inc.
  • Ellevest
  • Wealthify Limited
  • SigFig Wealth Management
  • Wealthfront Corporation.
  • Ginmon Vermögensverwaltung GmbH
  • Betterment
  • Social Finance, Inc.
  • Charles Schwab & Co., Inc.

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2022 USD 5.82 Billion
Market size value in 2032 USD 98.09 Billion
CAGR (2023 to 2032) 32.64%
Historical data 2019-2021
Base Year 2022
Forecast 2023-2032
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Segments Type, Provider

Frequesntly Asked Questions

As per The Brainy Insights, the size of the robo advisory market was valued at USD 5.82 Billion in 2022 & USD 98.09 Billion by 2032.

Global robo advisory market is growing at a CAGR of 32.64% during the forecast period 2023-2032.

North America region emerged as the largest market for the robo advisory.

Demand for individualised financial plans is a significant driving factor for the growth of the robo advisory market.

Limited flexibility is a significant restraining factor for the growth of the robo advisory market.

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This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global robo advisory market based on below mentioned segments:

Global Robo Advisory by Type:

  • Hybrid Robo Advisors
  • Pure Robo Advisors

Global Robo Advisory by Provider:

  • Banks
  • Fintech Robo Advisors
  • Traditional Wealth Managers
  • Others

Global Robo Advisory by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa


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