Digital Wealth Management Market - Increasing Demand for Fast and Convenient Way to Do Transaction Especially in Transport Sector
Digital Wealth Management Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
Albany, NY -- (SBWire) -- 02/14/2019 --The growing need for the management of assets such as equity, fixed income, real estate, commodities, and international investments is the key factor boosting the deployment and adoption of digital wealth management solutions across the globe. The U.S. Department of Commerce states that in 2015, U.S. asset managers held over US$51 trillion worth of long-term conventional assets under management, which amounted to slightly over 47.0% of the global funds that year.
Key growth factors for the global digital wealth management market include increasing demand for fast and convenient way to do transaction especially in transport sector (such as pharmacies, public transport, and gas stations where quick transactions are preferred) and retail sector has helped in enhancing the counter sales process thereby increasing the number of digital transactions. Significant demand for global digital wealth management is also anticipated from associated industries including, hospitality, media & entertainment and healthcare which is expected to drive the market growth.
Browse The Report: https://www.transparencymarketresearch.com/digital-wealth-management-market.html
Rapid growth in disposable income among the masses can be considered as another major factor propelling the global digital wealth management market. The growth of mobile applications in the recent past is viewed as a trend in the global digital wealth management market. The increasing amount of wealth generated and managed by organizations can be analyzed to track and scrutinize performance at all levels of the enterprise. Additionally, the ease in accessibility offered through cloud-based systems are also fuelling market growth of the global digital wealth management market. Further, the growing competition among the information and technology companies, which makes the global digital wealth management market highly competitive could be considered as some of the major restraints to the growth of the global digital wealth management market. Such challenges are obstructing the growth for the global digital wealth management market. Also, the concerns related to security, especially the threats arising due to cyber-attacks are expected to hamper the market growth in the coming years. Nevertheless, customization in multi-channel digital wealth management platforms is expected to present potential growth opportunities during the forecast period.
The global digital wealth management market can be segmented on the basis deployment, organization size, end-use vertical and geography. Based on deployment type, the market has been divided into on-premise and cloud. The cloud segment has been sub-classified into on-demand cloud and hosted cloud. The cloud segment is expected to gain traction in the near future, due to numerous benefits offered by cloud-deployed multi-channel solutions such as ease of use, ease of access, reduced physical clutter, cost savings, and reliability. In terms of organization size, the global digital wealth management market has been categorized into small & medium enterprise (SME) and large enterprise. On the basis of end-use industry, the global digital wealth management market has been segmented into IT and Telecom, BFSI, retail, manufacturing, healthcare, and others.
Get PDF Sample for this Research Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=50988
The global digital wealth management market is segmented on the basis of regions into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America has the largest number of digital wealth management vendors. North America is closely followed by Europe in terms of prominent digital wealth management vendors. This trend can be attributed to the increasing focus on innovations obtained from research and development and security technologies in the developed countries. Furthermore, the Asia-Pacific region is expected to emerge as the fastest growing market in the years from 2018-2026. Growing economies in the Asia Pacific region such as India, China and Japan are investing heavily in digital wealth management. This is in-turn supporting the growth of digital wealth management market in the region while further increasing the degree of competition among the digital wealth management vendors.
Media Relations Contact
Transparency Market Research
View this press release online at: http://rwire.com/1146583