Increasing high net worth individuals population and growing GDP to propel India wealth management market during forecast period
to TechSci Research report, “India Wealth Management
Market By Advisory
Mode, By Business Function, By Deployment Mode, By Enterprise Size, By End-User
Industry, Competition, Forecast & Opportunities, 2024”,
India wealth management market is projected to witness growth at a CAGR of around 12% during
the forecast period on account of growing urban population, digitalization and
process automation and advancements in technology. Wealth management is the combined
strategy of investment portfolio management, financial planning, and several
other aggregated financial services that are being used by individuals with
high net wealth. The key reason for the growth of wealth management market in
India is the fact that the number of High Net Worth (HNW) individuals is
growing and all these individuals need efficient solutions to manage their
wealth. In addition to this, majority of the financial advisors opt for digital
wealth management tools to better serve their clients. By providing the direction
to a client’s financial decisions the wealth managers enable them to achieve their
financial and life goals. However, due to reduced client trust in wealth
management, the market is likely to get subdued in the coming years.
Browse market data Tables and Figures spread through Pages and an in-depth TOC on“India Wealth Management Market”
wealth management market can be segmented based on Advisory Mode, Business Function,
Deployment Mode, Enterprise Size, End-User Industry and Region. Based on Business
Function, the market is segmented into Financial Advice Management, Portfolio,
Accounting & Trading Management, Performance Management, Risk & Compliance
Management, Reporting and Others. Out of these, the portfolio, accounting &
trading management segment dominated the market in 2018 and is anticipated to
maintain its position over the next 5 years as well as these management
solutions can potentially help HNW individuals in managing their financial
assets in an efficient and secure manner. Moreover, portfolio, accounting &
trading management solutions can provide real-time data and analytics that can
help in making better investment decisions and can also help in optimizing
management performance while enhancing the operational agility.
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, among others are the
leading players operating in India wealth management market.
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wealth management market is expected to grow substantially during the forecast
period on the back of growing financial awareness and investor education
programs. Additionally, increase in the number of industry participants is
further propelling the growth of India wealth management market. In terms of
enterprise size, the market is bifurcated into large enterprises and Small
& Medium Enterprises (SMEs). SMEs are anticipated to grow at the highest
CAGR during the forecast period on account of increasing demand for wealth
monitoring software by SMEs to meet regulatory requirements and to reduce asset
monitoring costs.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based India management consulting firm.
“India Wealth Management Market By Advisory Mode, By Business Function, By Deployment Mode, By Enterprise Size, By End-User Industry, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of India wealth management market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India wealth management market.