Smart Advisor Market - North America, Europe, EMEA, APAC : US, Canada, China, Germany, UK - Forecast 2022-2026

The smart advisor market share is expected to increase by USD 6.91 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 22%.

This smart advisor market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers smart advisor market segmentation by type (software and services) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The smart advisor market report also offers information on several market vendors, including Apple Inc., Artificial Solutions International AB, Broadridge Financial Solutions Inc., Cisco Systems Inc., CodeBaby LLC, Creative Virtual Ltd., eGain Corp., Google LLC, Insider Biz, International Business Machines Corp., Microsoft Corp, Oracle Corp., SmartAsset Advisors LLC, and Verint Systems Inc among others.

What will the Smart Advisor Market Size be During the Forecast Period?

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Smart Advisor Market: Key Drivers, Trends, and Challenges

The rising number of high-net-worth individuals (HNWIs) globally is notably driving the smart advisor market growth, although factors such as the growth of fintech companies may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the smart advisor industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Smart Advisor Market Driver

One of the key factors driving growth in the smart advisor market is the rising number of high-net-worth individuals (HNWIs) globally. The need for wealth advisory services has grown around the world as the wealth of the affluent upper-middle-class in emerging economies has grown over time. The number of HNWIs worldwide is also significantly rising. This is one of the main factors driving the adoption of smart advisor solutions by users. With larger levels of investment and wealth portfolios, HNWIs require experienced and tactical services to allocate their finances. These HNWIs rely on smart advisors who are specialized in their respective fields to manage their portfolios, estate planning, asset protection, and tax management. With such a steady rise in the number of HNWIs, the demand for financial services will increase, which will drive the growth of the global smart advisor market during the forecast period.

Key Smart Advisor Market Trend

The adoption of technological advancements is a smart advisor market trend that is expected to have a positive impact in the coming years. The vendors operating in the global smart advisor market are deploying automation via tools such as artificial intelligence (AI) and machine learning. These tools continue to drive improved productivity and effectiveness, improving cost reduction and helping in exploring new revenue streams through scalable and tailored solutions. The introduction of robotics process automation (RPA) has further streamlined back-office operations. With access to rising and unprecedented volumes of data, smart advisor companies are deploying AI tools to deliver a satisfactory client experience. With constantly evolving technologies intended to ease human efforts intellectually and physically, the growth of AI and its subset of machine learning will drive the economic growth of all countries, especially developed economies, in the future. Although AI is still in the innovating phase, its impact on the global smart advisor market will increase.

Key Smart Advisor Market Challenge

The growth of fintech companies will be a major challenge for the smart advisor market during the forecast period, Financial technology (fintech) includes a whole range of new technologies used to expand and automate the delivery of financial services. Fintech companies use technology and innovation to provide financial services through Internet-based platforms. Various fintech companies operating in the global market offer a wide range of services, ranging from traditional banking services such as payment services and fund transfers to those that can enhance the financial processes in a technologically advanced manner. There has been increasing demand for these fintech services, owing to factors such as an improved focus on technology and the convenience offered by such services due to lower investment requirements. It is anticipated that the global fintech market will grow at a CAGR of more than 9.0% during the forecast period. Hence, the steady growth of fintech companies might act as a challenge for the market in focus, thereby restraining its growth.

This smart advisor market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global smart advisor market as a part of the global application software market within the global IT software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the smart advisor market during the forecast period.

Who are the Major Smart Advisor Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Apple Inc.
• Artificial Solutions International AB
• Broadridge Financial Solutions Inc.
• Cisco Systems Inc.
• CodeBaby LLC
• Creative Virtual Ltd.
• eGain Corp.
• Google LLC
• Insider Biz
• International Business Machines Corp.
• Microsoft Corp
• Oracle Corp.
• SmartAsset Advisors LLC
• Verint Systems Inc

 

This statistical study of the smart advisor market encompasses successful business strategies deployed by key vendors. The smart advisor market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• broadridge.com - The company offers smart advisor services such as the Smart Advisor Desktop Communication Platform.

• broadridge.com - Under the investor communication solutions segment, the company offers governance and communications solutions with its Investor Communication Solutions business segment for the financial services clients such as asset management firms/mutual funds, banks/broker-dealers, wealth management firms, and corporate issuers.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The smart advisor market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Smart Advisor Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the smart advisor market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Smart Advisor Market?

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36% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for smart advisors in North America. Market growth in this region will be faster than the growth of the market in the European regions.

The increasing adoption of smart advisors in end-user industries such as banking and retail and the increasing adoption of technologies such as artificial intelligence and machine learning will facilitate the smart advisor market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 positively impacted the growth of the smart advisor market in North America. Companies in the smart advisor market were growing steadily before the outbreak of the pandemic. However, the need for smart advisor solutions has increased considerably since the outbreak of COVID-19. Organizations in the region have been opting for various application software, including smart advisor solutions, such as log management software and VPNs, to ensure a smooth working cycle. The transition of major corporate companies toward remote working is expected to drive the demand for smart advisors significantly, which, in turn, will spur the growth of the regional smart advisor market during the forecast period.

What are the Revenue-generating Type Segments in the Smart Advisor Market?

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The smart advisor market share growth in the software segment will be significant during the forecast period. The growing use of technology in the healthcare sector to offer virtual doctors is driving the growth of the software segment. Vendors in the market are increasingly developing smart advisor solutions to meet the increasing demand of customers. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the smart advisor market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Smart Advisor Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 22%
Market growth 2022-2026	$6.91 billion
Market structure	Fragmented
YoY growth (%)	21.7
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	North America at 36%
Key consumer countries	US, Canada, China, UK, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Apple Inc., Artificial Solutions International AB, Broadridge Financial Solutions Inc., Cisco Systems Inc., CodeBaby LLC, Creative Virtual Ltd., eGain Corp., Google LLC, Insider Biz, International Business Machines Corp., Microsoft Corp, Oracle Corp., SmartAsset Advisors LLC, and Verint Systems Inc
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Smart Advisor Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive smart advisor market growth during the next five years
• Precise estimation of the smart advisor market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the smart advisor industry across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of smart advisor market vendors

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