The global robo-advisory market is segmented based on industry into healthcare, retail, education, and others.
Portland, OR -- (SBWIRE) -- 11/30/2017 -- Robo-advisory is basically an automated, algorithm based portfolio management service offered by wealth management companies. It significantly decreases management cost involved in providing all the financial advice through manpower, thus assisting wealth management companies to provide this as a minimal cost service for their customers. Robo advisory is an automated portfolio management software, which allows the customers to consistently adjust and customize the online investment in order to meet their long-term financial goals and short-term investment strategy.
Rise in internet penetration, advice related to investment at low cost, increase in maturity of digital advice technologies are anticipated to expand the growth of robo-advisory market during the period from 2017 to 2023. The convenient option of automated process without any manual engagement of financial advisors is expected to strengthen the market growth till 2023.
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The global robo-advisory market is segmented based on industry into healthcare, retail, education, and others. Geographically, it is categorized across North America, Europe, Asia-Pacific, and LAMEA. Europe and the U.S. captured the significant market share in terms of revenue in robo-advisory market in 2016. Change in technology and significant growth of internet users are expected to expand the growth of robo-advisory market in Asia Pacific and Eastern Europe during the forecast period.
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Key players identified across the value chain of this report include Betterment, FutureAdvisor, Personal Capital, Vanguard Personal Advisor, Wealthfront, WiseBanyan, SigFid Wealth Management, and others.
Robo-advisory Market Key Segments: