India Wealth Management Market By Advisory Mode (Human Advisory, Robo Advisory & Hybrid), By Business Function (Financial Advice Management, Portfolio, Accounting & Trading Management & Others), By Deployment Mode (On-premises & Cloud), By Enterprise Size (Large Enterprises Vs Small & Medium Enterprises), By End-User Industry (Investment Management Firms, Trading and Exchange Firms & Others), Competition, Forecast & Opportunities, 2025.
India wealth management market is expected to grow at a CAGR of around 11% during the forecast period. This can be majorly attributed to the growing adoption of innovative tools by the individuals to manage their finances. Moreover, rising high net worth individuals (HNWIs) population is further aiding the growth of the market. Additionally, increasing Internet penetration coupled with growing number of social media users, the demand for wealth management has intensified in India. Other factors like very large and young mass affluent segment, increase in the wealth of global Indians and rising share of the organized market players such as independent wealth advisors and small brokers/agents as financial advisors are further fuelling growth in the market. However, due to stringent regulatory issues along with the resistance to accept the technology might act as a major impediment to the market growth in the forthcoming years.
Based on advisory mode, the wealth management market is categorized into human advisory, robo advisory and hybrid. Among them, robo advisory mode is projected to witness high traction in the upcoming years as this mode is efficient, cost-effective, and secured. Furthermore, technological advancements such as machine learning and cognitive computing are further adding to the efficiency and improving the data-driven insights of the robo advisory mode and on the same hand reducing the operating costs for financial advisors. In terms of deployment, the market has been bifurcated into cloud and on-premise. The cloud deployment mode dominated the market until 2018 and is expected to remain the most preferred method of deploying wealth management tools throughout the forecast period as well which can be attributed to the benefits it offers such as reduced operating costs. Financial advisory firms based in the country, are anticipated to prefer wealth managing solutions deployed on the cloud. Additionally, the cloud-based deployment is advantageous in many other ways such as it provides an easy access to data coupled with flexible payment options, and this is witnessed to spur the growth of the segment over the forecast period.
Market players in India wealth management market are FIS Global Business Solutions India Pvt. Ltd., Fiserv India Pvt Ltd, Broadridge Financial Solution India Pvt. Ltd, Temenos India Pvt Ltd, SEI Technology Services India Private Limited, Finacrest Wealth, Finantix, Karvy Corporate and BNP Paribas Asset Management India Private Limited. The key players are investing more to develop new technologies in order to develop energy efficient transportation and increase their customer bases worldwide.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
- To analyze and forecast the market size of India wealth management market.
- To forecast India wealth management market based on advisory mode, business function, deployment mode, enterprise size, end-user industry and regional distribution.
- To identify drivers and challenges for India wealth management market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India wealth management market.
- To identify and analyze the profile of leading players operating in India wealth management market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of wealth management service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product types, application types and presence of all major wealth management service providers across the country.
TechSci Research calculated India wealth management market size by using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Wealth management service providers
- Government bodies such as regulating authorities and policy makers
- Industry associations
- Organizations, forums and alliances related to wealth management market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product service providers, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, India wealth management market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- India Wealth Management Market, By Advisory Mode:
- India Wealth Management Market, By Business Function:
Financial Advice Management
Portfolio, Accounting & Trading Management
Risk and Compliance Management
- India Wealth Management Market, By Deployment Mode:
- India Wealth Management Market, By Enterprise Size:
Small & Medium Enterprises
- India Wealth Management Market, By End-User Industry:
Investment Management Firms
Trading and Exchange Firms
Pension & Sovereign Wealth Funds
- India Wealth Management Market, By Region:
Company Profiles: Detailed analysis of the major companies present in India wealth management market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
- Profit margin analysis in case of direct and indirect sales channel.
Table of Contents
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on India Wealth Management Market
4. Executive Summary
5. Voice of Customer
6. India Wealth Management Market Outlook
- 6.1. Market Size & Forecast
- 6.2. Market Share & Forecast
- 6.2.1. By Advisory Mode (Human Advisory, Robo Advisory and Hybrid)
- 6.2.2. By Business Function (Financial Advice Management, Portfolio, Accounting & Trading Management, Performance Management, Risk & Compliance Management, Reporting and Others)
- 6.2.3. By Deployment Mode (On-premises, Cloud)
- 6.2.4. By Enterprise Size (Large Enterprises Vs Small & Medium Enterprises)
- 6.2.5. By End-User Industry (Investment Management Firms, Trading and Exchange Firms, Accounting Firm, HNWI, Pension & Sovereign Wealth Funds, Insurance Companies and Others)
- 6.2.6. By Region
- 6.2.7. By Company
7. India Investment Management Firms Wealth Management Market Outlook
- 7.1. Market Size & Forecast
- 7.2. Market Share & Forecast
- 7.2.1. By Advisory Mode
- 7.2.2. By Region
- 7.2.3. By Company
8. India Trading & Exchange Firm Wealth Management Market Outlook
- 8.1. Market Size & Forecast
- 8.2. Market Share & Forecast
- 8.2.1. By Advisory Mode
- 8.2.2. By Region
- 8.2.3. By Company
9. India Accounting Firm Wealth Management Market Outlook
- 9.1. Market Size & Forecast
- 9.2. Market Share & Forecast
- 9.2.1. By Advisory Mode
- 9.2.2. By Region
- 9.2.3. By Company
10. India Insurance Companies Wealth Management Market Outlook
- 10.1. Market Size & Forecast
- 10.2. Market Share & Forecast
- 10.2.1. By Advisory Mode
- 10.2.2. By Region
- 10.2.3. By Company
11. India Pension & Sovereign Wealth Funds Wealth Management Market Outlook
- 11.1. Market Size & Forecast
- 11.2. Market Share & Forecast
- 11.2.1. By Advisory Mode
- 11.2.2. By Region
- 11.2.3. By Company
12. Market Dynamics
- 12.1. Drivers
- 12.2. Challenges
13. Market Trends & Developments
14. Policy & Regulatory Landscape
15. India Economic Profile
16. Competitive Landscape
- 16.1. Competition Outlook
- 16.2. Company Profiles
- 16.2.1. FIS Global Business Solutions India Pvt. Ltd.
- 16.2.2. Fiserv India Pvt Ltd
- 16.2.3. Broadridge Financial Solution India Pvt. Ltd
- 16.2.4. Temenos India Pvt Ltd
- 16.2.5. SEI Technology Services India Private Limited
- 16.2.6. Finacrest Wealth
- 16.2.7. Finantix
- 16.2.8. Karvy Corporate
- 16.2.9. BNP Paribas Asset Management India Private Limited
17. Strategic Recommendations