Albany, NY -- (SBWIRE) -- 09/28/2016 -- MarketResearchReports.biz has recently announced a new study on the market for robo-advice industry. According to the report, the emergence of robo-advisors has created a disruption in the financial advisory industry in the recent times.

The research report, titled "Robo-Advisors: Mapping The Competitive Landscape," presents a comprehensive assessment of this industry on the basis of the recent trends and the growth prospects. The analyses of current performance and the opportunities available in this market have also played an important part in carrying out this research.

Robo-advisors are artificial intelligence-based advanced software that can replicate the functions carried out by a human investment advisor, that too, at lower costs. Coupled with the ease of usage offered by robo-advisors, this factor is likely to bolster the demand for robo-advisors in the near future, states the market report.

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As the wealth management industry has been opening towards digitization, non-human artificially intelligent software have begun to gain the confidence of investors. The intense competition within the automated wealth management ecosystem, triggered by the increasing shift of traditional wealth managers into the digital space, is expected to fuel the demand for robo-advisors extensively in the coming years. All these factors point towards a promising future of the global robo-advice industry; however the robo-advice services providers will need to come up with more appealing business models for high net worth (HNW) individuals in order to expand further, notes the research study.

Over the next few years, robo-advisors are likely to find ample opportunities in the retirement plan and regulatory industry. In addition, banks are expected to emerge as potential application area for robo-advisors. Experts project an increase in the partnerships of banks with robo-advisors in a bid to add technologically advanced services to them.

The continual upgradation and modification in robo-advisors and other technologies related to robo-advising in order to serve the ever-growing needs of customers is anticipated to reflect positively on the global robo-advice industry, states the research report.

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This report is specially designed to assist participants to gain a clear understanding of the global robo-advice industry and help them make rewarding strategies for business expansion. It provides a detailed overview of this industry with definitions and related concepts. The evolution of the robo-advice industry has been discussed here with a special emphasis on region-wise adoption of robo-advisors.

Alongside the dissimilarities between mature and emerging markets, the market drivers and the challenges faced by participants have also been considered while performing this research. In addition to these, the effect of the migration of Europay, MasterCard, and Visa (EMV) on robo-advisors, the competitive landscape of the global industry, and foresights regarding its future has been addressed in this study at length.

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