Wealth Management Global Market Growth Opportunities and Strategies Through 2030: COVID 19 Impact and Recovery Analysis Including: By Asset Class Type: Equity; Fixed income; Alternative Assets and Others by Advisory Mode: Human Advisory; Robo Advisory; Hybrid advice according to the type of asset manager: private banks; Full-service asset manager; Investment manager; Stock broker; Others by Type of Company Size: Large Company; Medium and Small Business by Client Type: Mass wealth; HNWI; Pension funds; Insurance companies; State funds by service element: asset management; Portfolio management and investment advice; Funds, Trusts and Other Financial Instruments for: Wells Fargo & Company; JPMorgan Chase & Co .; Bank Of America Corporation; Morgan Stanley; UBS Group AG
Market overview
This report describes and evaluates the global asset management market. It comprises two five-year periods, a three-year period and a six-year period, including 2015 to 2019, referred to as the historical period 2019 to 2023, forecast period 2023-2025 forecast period and 2025-2030 forecast period. The global wealth management market reached nearly $ 486.78 billion in 2019, after growing at a compound annual growth rate (CAGR) of 6.6% since 2015. The market is forecast to decline from $ 486.78 billion in 2019 to $ 446.73 billion in 2020, a rate of -8.2%. The decrease is mainly due to lockdown and social distancing norms imposed by different countries, as well as the economic slowdown between countries due to the COVID-19 outbreak and measures taken to contain it. The market is then expected to recover and grow at an annual growth rate of 9.4% from 2021, reaching $ 584.99 billion in 2023.
The global wealth management market is highly fragmented with a large number of small players. The ten largest competitors in the market accounted for up to 11.9% of the total market in 2019. The main players in the market include Wells Fargo & Company, JP Morgan Chase & Co., Bank of America Corporation, Morgan Stanley and UBS Group AG.
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Market segmentation
The wealth management market is divided into fixed income, stocks, alternative assets, and others by asset class. The bond market was the largest segment of the wealth management market segmented by type, accounting for 69.3% of the total market in 2019. Going forward, the alternative assets and others segment is expected to be the fastest growing segment in the wealth management market. with a CAGR of 8.6% in the period 2019-2023.
The wealth management market is divided into Human Advisory, Robo Advisory and Hybrid Advisory based on advisory modes. The human advisory market was the largest segment of the wealth management market, segmented by advisory mode type, accounting for 98.6% of the total in 2019. Going forward, the robo-advisory segment is expected to be the fastest growing segment in the wealth management market with a CAGR of 26.1% over the 2019-2023 period.
The wealth management market is divided into private banks, full-service wealth managers, investment managers, stock brokers, and others based on the types of wealth managers. The private banking market was the largest segment of the wealth management market, segmented by wealth manager type, accounting for 41.8% of the total in 2019. Going forward, the other segment is expected to be the fastest growing segment in the wealth management market. at a CAGR of 7.8% over the period 2019-2023.
The wealth management market is divided into large, medium and small companies based on company size. The large corporate market was the largest segment of the wealth management market segmented by company size, accounting for 60.8% of the total in 2019. Going forward, the medium and small business segment is expected to be the fastest growing segment in the wealth management market, with a CAGR of 5.1% over the 2019-2023 period.
The wealth management market is divided into bulk wealth, HNWI, pension funds, insurance companies, and sovereign wealth funds based on client types. The wealth mass market was the largest segment of the wealth management market, segmented by client type, and represented 45.3% of the total market in 2019. Going forward, the sovereign wealth fund segment is expected to be the fastest growing segment in the wealth management market with a CAGR of 6.3% over the 2019-2023 period.
The asset management market is divided into asset management, portfolio management, and investment advice, as well as funds, trusts, and other financial instruments based on service elements. The wealth management market was the largest segment of the wealth management market, segmented by service element type, accounting for 37.1% of the total in 2019.
North America was the largest region in the global wealth management market, accounting for 53.7% of the total in 2019. Western Europe, the Asia-Pacific region and the other regions followed. Going forward, Western Europe and Asia Pacific will be the fastest growing regions in the wealth management market, where CAGR will grow by 5.3% and 5.2%, respectively. It is followed by Africa and North America, where the markets are expected to grow with CAGRs of 5.1% and 4.4% respectively.
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- This report provides an in-depth analysis of changing competitive dynamics
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- It helps in understanding the key product segments and their future
- It offers a precise analysis of the changing competitive dynamics and keeps you ahead of the competition
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The greatest opportunities in the asset management market segmented by type are in the fixed income space, which will have annual revenues of $ 56.7 billion worldwide by 2023. The greatest opportunities in the wealth management market, segmented by consultant type, are in the recruiting segment, which will generate annual worldwide sales of $ 87.62 billion by 2023. The top opportunities in the wealth management market, segmented by company size, will emerge in the large company segment, which will have annual global sales of $ 56.07 billion by 2023.The wealth management market segmented by type of wealth manager will emerge in the full-service wealth manager segment , which will have annual worldwide sales of $ 33.36 billion by 2023.
Wealth Management Global Market Opportunities & Strategies Through 2030: COVID-19 Impact And Recovery From The Business Research Company provides strategists, marketers and executives with the crucial intelligence they need to assess the global Wealth Management market.
Markets Covered:
The global wealth management market is divided into –
By type of asset class: equity; Fixed income; Alternative assets and others
By advisory mode: Human Advisory; Robo Advisory; Hybrid advice
By type of asset manager: private banks; Full-service asset manager; Investment manager; Stock broker; Other
By Company Type Size: Large Company; Medium and small businesses
By type of customer: Mass Affluent; HNWI; Pension funds; Insurance companies; Sovereign wealth fund
By service element: Asset Management; Portfolio management and investment advice; Funds, Trusts and Other Financial Instruments
Mentioned companies: Wells Fargo & Company; JPMorgan Chase & Co .; Bank of America Corporation; Morgan Stanley; UBS Group AG
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