The smart advisor market size is anticipated to grow from US$ 4,979.9 million in 2022 to US$ 23,587.6 million by 2030; it is anticipated to increase at a CAGR of 21.5% from 2022 to 2030.
Analyst Perspective:
The smart advisor market has witnessed significant growth in recent years, steered by innovations in artificial intelligence (AI) and machine learning (ML) technologies. Smart advisors have disrupted the traditional wealth management industry by providing automated investment advice and portfolio management services. This has attracted both individual investors and financial institutions seeking cost-effective and efficient solutions. Smart advisors have the potential to revolutionize patient care by offering personalized medical recommendations and remote monitoring capabilities. It can enhance patient outcomes and decrease healthcare costs. The adoption of smart advisors in e-commerce and customer service sectors has enhanced customer experiences through personalized recommendations and proactive assistance.
Market Overview:
Smart advisors are experiencing significant growth and have great potential for future development. It leverages the capabilities of artificial intelligence (AI) and machine learning (ML) technologies to provide customized and smart solutions for different sectors.
In the financial industry, smart advisors have disrupted traditional wealth management by offering automated investment advice and portfolio management services. These solutions appeal to both individual investors and financial institutions seeking efficient and cost-effective methods for managing investments. Smart advisors can transform the healthcare industry by delivering individualized medical suggestions and enabling remote monitoring, thereby contributing to improved patient outcomes and cost savings in healthcare. The e-commerce and customer service sectors have also embraced smart advisors to elevate customer experiences. By offering personalized recommendations, proactive assistance, and streamlined interactions, smart advisors contribute to improved customer satisfaction and loyalty.
Smart beta strategies, a subset of smart advisors, combine the advantages of active investing with the benefits of passive investing. These strategies employ alternative index construction rules, emphasizing factors such as volatility, liquidity, quality, value, size, and momentum, in contrast to the traditional market capitalization-based indices. However, despite the positive outlook, challenges must be considered. Data privacy concerns, regulatory compliance, and the ongoing need for AI algorithm improvements are critical factors that require attention.
In conclusion, the smart advisor market is witnessing substantial growth and holds immense potential across multiple sectors. The integration of AI and ML technologies enables the delivery of personalized and intelligent solutions, transforming industries such as finance, healthcare, e-commerce, and customer service. Although challenges exist, the future of the smart advisor market appears promising as businesses recognize the value of data-driven decision-making and the importance of enhancing customer experiences.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Smart Advisor Market: Strategic Insights
Market Size Value in US$ 4,979.9 million in 2022 Market Size Value by US$ 23,587.6 million by 2030 Growth rate CAGR of 21.5% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Smart Advisor Market: Strategic Insights
| Market Size Value in | US$ 4,979.9 million in 2022 |
| Market Size Value by | US$ 23,587.6 million by 2030 |
| Growth rate | CAGR of 21.5% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Market Driver:
The increasing adoption of digital platforms, including smartphones, tablets, and social media, has boosted the demand for smart advisors.
Advancements in mobile technology have played a crucial role in driving the adoption of digital platforms. With the continuous global growth of smartphone and tablet usage, individuals now have seamless access to a diverse array of applications and services, including smart advisors. Today's consumers have increasingly high expectations for personalized experiences and immediate access to information and services. They place great value on convenience and efficiency in their interactions with businesses and service providers. Smart advisors offer a convenient and easily accessible means for individuals to receive personalized recommendations and assistance across various subjects. The escalating complexity of products and services, combined with the overwhelming amount of available information, has generated a strong demand for personalized and convenient guidance. By leveraging advanced technologies, smart advisors possess the ability to analyze data, comprehend user preferences, and deliver tailored recommendations or solutions. This level of personalization greatly enriches user experiences and fosters higher levels of customer satisfaction. The advancements in mobile technology have facilitated the widespread adoption of digital platforms, resulting in increased access to smart advisors. The capabilities of smart advisors meet consumers' desire for personalized experiences and convenient guidance as they analyze data, understand user preferences, and provide tailored recommendations or solutions. By embracing smart advisors, businesses can enhance customer satisfaction, improve engagement, and meet the evolving demands of today's digital-savvy consumers.
Segmentation and Scope:
The "Smart Advisor Market" is segmented based on product type, end-use, distribution channel, and geography. In terms of offering, the market is bifurcated into software and services. Based on application, the market is bifurcated into investment advice and customer support. Based on the distribution channel, the market is bifurcated into online and offline. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Segmental Analysis:
In terms of offering, the market is bifurcated into software and services. The software segment holds a significant share in the smart advisor market, owing to the increasing adoption of AI and ML technologies. Rapid advancements in these technologies have enabled the development of sophisticated smart advisor software that can provide intelligent and personalized solutions. Software offerings in the smart advisor market refer to the development and deployment of artificial intelligence (AI) and machine learning (ML) algorithms that power the intelligent capabilities of smart advisors. These software solutions are designed to analyze data, understand user preferences, and provide personalized recommendations or solutions across various sectors. The demand for smart advisor software is driven by the need for enhanced customer experiences, increased efficiency, and improved decision-making processes.
On the other hand, services in the smart advisor market encompass the range of support and assistance provided to businesses and individuals in implementing and utilizing smart advisor solutions. These services include consulting, training, customization, integration, and maintenance. Service providers in the smart advisor market work directly with businesses to identify their specific needs and tailor smart advisor solutions accordingly.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Regional Analysis:
The North America smart advisor market is a rapidly growing sector that is driven by technological advancements and the increasing demand for personalized and efficient customer experiences. North America, which includes countries such as the United States and Canada, is known for its strong technological infrastructure and high adoption rates of digital solutions. North America has been identified as a region with high adoption rates of smart advisor technologies, particularly in the software sector. The region has a well-established market for AI and ML technologies, which form the backbone of smart advisor systems. The availability of advanced computing resources, skilled professionals, and a supportive business environment has contributed to the growth of the smart advisor market in North America. North America has a high smartphone and tablet usage rate, which provides individuals with easy access to an ample range of applications and services, including smart advisors. Consumers in North America have come to expect personalized experiences and instant access to information and services. They value convenience and efficiency in their interactions with businesses and service providers. As a result, the demand for smart advisors in North America has been on the rise. Smart advisors in North America offer a range of benefits, including personalized medical recommendations, remote monitoring capabilities, and enhanced patient care. These capabilities have the potential to improve patient outcomes and reduce healthcare costs.
Key Player Analysis:
The smart advisor market analysis consists of players such as SmartAsset, eGain Corporation, Tencent Cloud, Hexagon AB, Oracle, Broadridge Financial Solutions, Inc., Nvest, Inc., Charles, Schwab & Co., Inc., Ally Financial Inc., Wealthsimple Media Inc. are among the key smart advisor market players profiled in the report.
Recent Developments:
Companies in the market highly adopt inorganic and organic strategies such as mergers and acquisitions. A few recent key smart advisor market developments are listed below:
- In June 2023, Betterment, a leading digital investment platform, has recently launched its new Tax-Smart Transitions features tailored specifically for financial advisors. This new offering aims to simplify and optimize the tax transition process for advisors and their clients when transitioning portfolios. The Tax-Smart Transitions features developed by Betterment utilize advanced algorithms and tax optimization strategies to minimize the tax impact during portfolio transitions. Advisors can now seamlessly transition clients' investments while considering tax implications, ensuring a more efficient and cost-effective process.
- In February 2023, GrainFox, a leading technology company, has recently launched its innovative Smart Advisor platform. This platform leverages machine learning and AI technologies to provide advanced advisory services to its users. The introduction of this platform marks a significant milestone in the company's commitment to delivering cutting-edge solutions to its clients. The Smart Advisor platform developed by GrainFox is designed to offer personalized recommendations and guidance to users in various industries. By examining immense amounts of data and leveraging sophisticated algorithms, the platform can provide valuable insights and actionable advice to help users make informed decisions.
- In December 2022, IBM revealed its partnership with the Cloud Security Alliance, a global organization that aims to ensure secure cloud computing through standards, certifications, and best practices. The partnership intends to improve the security and risk management of the cloud within financial services, which can benefit the smart advisor market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offering, Application, End-use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies
1. [24]7. ai, Inc
2. Artificial Solutions
3. Creative Virtual Pvt. Ltd.
4. CX Company
5. eGain Corporation
6. IBM Corp
7. iDAvatars (IDA)
8. Ivanti
9. Next IT Corporation
10. Nuance Communications Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Smart Advisor Market
Apr 2024
Engineering Professional Services Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Consulting, Non-Consulting), Service Type (Designing and Construction, ESG, Program Management, Others), Sector (Private, Public), Vertical (Advanced Manufacturing, Infrastructure, Energy and Utilities, Environmental, Transportation, Others), Advanced Manufacturing (Data Center, Life Sciences, Electronics, and Semiconductor, EV and EV Battery, Others), Infrastructure (Buildings and Cities, Health Infrastructure, Telecommunication Infrastructure, Others), Energy And Utilities (Renewables, Energy Storage, Transmission and Distribution), Transportation (Aviation, Highways and Bridges, Ports and Maritime, Rail and Transit), Water (Water, Wastewater), and Geography (Americas, Europe, Asia Pacific and Middle East and Africa)
Apr 2024
Virtual Reality Puzzle Games Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Age (18 to 34 Years, Above 35 Years, 13 to 17 Years, and Upto 12 Years), Player Type (Single Player and Multi Player), and End Users (Individuals and Professionals)
Apr 2024
Inspection Software for Government Services Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Services), Services (Implementation and Deployment, Support and Maintenance, Training, and Consulting), Deployment (Cloud and On-premises), Application (Permitting and Licensing Management, Inspection and Scheduling Management, Contract Management, and Others), and End User (Local Government, State Government, and Federal Government)
Apr 2024
Spend Analytics for Electronics and Semiconductor Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Component (Software and Service), Type (Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics), Deployment (On-premise and Cloud), and Application (Financial Management, Risk Management, Governance and Compliance Management, Supplier Sourcing and Performance Management, Demand and Supply Forecasting, and Others)
Apr 2024
Photonic Design Automation Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Service), Deployment (On-Premise and Cloud), Organization Size (SMEs and Large Enterprises), and Application (Academic Research and Industrial Research & Manufacturing)
Apr 2024
Voice-based Payments Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Hardware and Software), By Enterprise Size (Large Enterprises and Small and Medium-Sized Enterprises), By Industry (BFSI, Automotive, Healthcare, Retail, Government, and Others), and by Geography
Apr 2024
Private 5G Network Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services); Frequency (Sub-6 GHz and mmWave), End User (Manufacturing, Energy and Utilities, Automotive, Military and Defense, Government and Public Safety, and Others)
Apr 2024
Unified Threat Management Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services); Deployment (Cloud and On-Premise); Enterprise Size (Large Enterprises and SMEs); and End Users (BFSI, Manufacturing, Healthcare, Retail, Government, IT & Telecom, and Others)