The banking automation and robo-advisor market is expected to register a CAGR of 12.1% from 2023–2031. Growing demand for digital baking services and adoption of Artificial Intelligence (AI) driven technologies are likely to remain a key banking automation and Robo-Advisor market trend.
Banking and financial business processes contain a large number of repeated procedures, making them perfect for banking automation technology. While some of this digital revolution has entailed the development of complicated automation tools for investing and fraud detection systems, some of the most important benefits have come from automating smaller, more everyday processes that are common within these institutions. The automated transition has also allowed banks to leverage data to expand their existing product and service offerings.
A robo-advisor is a digital financial advisor who offers financial advice or manages investments with little to no human participation. Robo-advisors are supposed to provide digital advice based on inputs from investors. Robo-advisors use computers to analyze and forecast investor preferences, risks, and objectives. Banking automation and Robo-advisors have altered the financial services business by offering customers efficient and tailored solutions. The market for banking automation and Robo-advisors is growing rapidly due to rising demand for automated financial services, enhanced customer experience, and cost-effectiveness.
The growing desire for improved client experiences and expanded use of cloud-based technologies by the banking sector and other financial institutions is driving the expansion of digital banking. A customer-centric approach, data-driven results, and an emphasis on digital experience are critical components of digital banking's success. The main advantages of digital banking include ease of use, a simple sign-up process, decreased transaction fees, customizable features, and an anytime banking capability. All these factors are expected to boost the growth of banking automation and robo-advisor market during the forecast period.
Digital technology is having an impact on practically every industry, changing not only the industries but also the way organizations function. Every industry is currently assessing choices and adopting strategies to prosper in this technologically advanced environment. To meet customer expectations, the banking sector has expanded its reach into retail, IT, and telecom areas, offering services like mobile banking, e-banking, and real-time money transfers. These enhanced features enable users to access banking at their convenience, but they come at a cost to the banking system. Trending banking apps are adopting artificial intelligence for a variety of reasons, including greater competition in the banking sector, a push for process-driven services, consumer requests for more tailored solutions, and increased employee efficiency. All these factors are expected to create lucrative opportunities for the market during the forecast period.
Key segments that contributed to the derivation of the Banking Automation and Robo-Advisor market analysis are type and application.
The geographic scope of the banking automation and robo-advisor market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America held a prominent share in the banking automation and robo-advisor market in 2023. This growth may be attributable to rising demand for digital banking services and increased acceptance of automated financial advice. Further, the presence of key market players and early technological adoption are also anticipated to boost the market growth in this region during the forecast period. Asia Pacific region is predicted to grow at a significant pace during the forecast period. This growth may be attributed to the growing digital banking initiatives by the government and the growing adoption of digital banking services.
The regional trends and factors influencing the Banking Automation and Robo-Advisor Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Banking Automation and Robo-Advisor Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ XX million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2025 - 2031) | 12.1% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Banking Automation and Robo-Advisor Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Banking Automation and Robo-Advisor Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Banking Automation and Robo-Advisor market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the Market for innovations, business expansion, and strategies:
The “Banking Automation and Robo-Advisor Market Size and Forecast (2021–2031)” report provides a detailed analysis of the Market covering the following areas: