Asia-Pacific WealthTech Solution Market
No. of Pages: 114 | Report Code: TIPRE00025274 | Category: Technology, Media and Telecommunications
No. of Pages: 114 | Report Code: TIPRE00025274 | Category: Technology, Media and Telecommunications
Many trends cannot be generalized for all countries in APAC as it is a vast and diverse region. WealthTech services are gaining momentum in Asia and the Pacific Rim of the East. Advanced WealthTech systems are increasingly becoming part of everyday life in fast-growing, developing economies such as China and India, and in developed countries such as Australia and Japan. APAC places with a high rate of smartphone adoption have access to different virtual financial services at a faster rate than people in most other nations.
The use of wealthtech powered services by banks and investment firms across major APAC countries has quadrupled, or tripled, in some cases. wealthtech adoption is 67% in Hong Kong, Singapore, and South Korea; and 58% in Australia. Except India, which has virtually matched the leading digital power in Asia, most countries still lag well behind China, which has 87% adoption of wealthtech in banks and investment firms. Furthermore, a strong FinTech feedback loop continues to benefit the bulk of Asian countries, with higher adoption leading to further innovation and vice versa. Mainland China continues to lead the way in consumer and small-business financial services innovation, while Chinese investments and local entrepreneurs are propelling rapid market penetration and innovation in other Asian nations. Competition between tech giants from China and US for capturing majority shares in huge, fast-growing Indian market is likely to fuel rapid transformation in the financial services and FinTech ecosystem in the region.
APAC is characterized by the presence of developing countries, positive economic outlook, high industrial presence, and huge population. All these factors make APAC a major region for the growth of various markets, including wealthtech solution. The lockdown of various plants and factories in all economies of the region due the COVID-19 pandemic is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various products and services. Disruptions in units have stopped investments in start-ups, thereby negatively impacting the market growth. However, with lockdowns being lifted in several countries, wealthtech start-ups are likely to witness investments.
Strategic insights for the Asia-Pacific WealthTech Solution provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 12.89 Billion |
| Market Size by 2028 | US$ 38.26 Billion |
| Global CAGR (2021 - 2028) | 16.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia-Pacific WealthTech Solution refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The wealthtech solution market in APAC is expected to grow from US$ 12.89 billion in 2021 to US$ 38.26 billion by 2028; it is estimated to grow at a CAGR of 16.8% from 2021 to 2028. Organizations use financial analytics tools to gain insights into key present and future trends for improving their business performance. Financial analytics services include financial data quality analysis and data layout, client analytics, predictive analytics, principal component analysis, and financial data collection. These analytics require thorough financial and other relevant data to identify patterns; based on these predictions, enterprises may make predictions regarding what their customers would buy, how long their employees' tenures might be, and so on. Thus, financial analytics services help organizations improve the profitability, cash flow, and business value. They may use the insights gained through these analytics to improve their revenues and business processes. Accenture PLC provides the newest data and analytics solutions for financial service providers, along with assisting them in deploying the same. Its services for these firms include cost analytics and enterprise performance analytics. With a prime focus in income statements, balance sheets, and cash flow statements, financial analysis is employed to evaluate economic trends, set financial policies, formulate long-term business plans, and pinpoint projects or companies for investments.
APAC wealthtech solution market is segmented into component, end user, organization size, deployment mode, and country. Based on component, the wealthtech solution market is bifurcated into solution and services. In 2020, the solution segment led the market, accounting for a larger market share. Based on end user, the wealthtech solution market is segmented into banks, wealth management firms, and others. In 2020, the wealth management firms segment accounted for the largest market share. Based on organization size, the wealthtech solution market is bifurcated into large enterprises and small and medium-sized enterprises. In 2020, the large enterprises segment accounted for a larger market share. By deployment mode, the wealthtech solution market is bifurcated into cloud-based and on-premises. In 2020, the cloud-based segment accounted for a larger market share. Based on country, the APAC wealthtech solution market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. In 2020, China led the market, accounting for a larger market share.
A few major primary and secondary sources referred to for preparing this report on the wealthtech solution market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 3rd-eyes analytics; BlackRock, Inc.; InvestCloud, Inc.; InvestSuite; Synechron; Wealthfront Inc.; Valuefy; and WealthTechs Inc.
The Asia-Pacific WealthTech Solution Market is valued at US$ 12.89 Billion in 2021, it is projected to reach US$ 38.26 Billion by 2028.
As per our report Asia-Pacific WealthTech Solution Market, the market size is valued at US$ 12.89 Billion in 2021, projecting it to reach US$ 38.26 Billion by 2028. This translates to a CAGR of approximately 16.8% during the forecast period.
The Asia-Pacific WealthTech Solution Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific WealthTech Solution Market report:
The Asia-Pacific WealthTech Solution Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific WealthTech Solution Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific WealthTech Solution Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
UK+442030260021, US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Asia-Pacific WealthTech Solution Market
