Kenneth Research published a report titled “Latin America Robo Advisory Market: Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the Latin America Robo advisory market in terms of market segmentation by type, client assets type, end-user, service provider, service type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The Latin America Robo advisory market is expected to hold a revenue of ~USD 40 billion by 2031 growing from ~USD 4 billion in 2021. The market growth can be attributed to the increasing implementation of automation in the financial sector, the rise in FDI to Latin America, the increasing number of users of Robo advisors, and investments in machine learning (ML) in the financial sector.
The Latin America Robo advisory market is expected to grow at a CAGR of approximately ~32% from 2022-2031. The market is segmented by type into hybrid Robo – advisors and pure Robo-advisors. Between these, the hybrid Robo – advisors’ segment is anticipated to hold the largest market share by the end of 2031, owing to the use of digital media in the financial sector, the low price, and the additional support, reassurance, and flexibility through self-service and by the presence of a human advisor.
Effective Implementation of Automation in Financial Sector to Boost the Market Growth
By 2022, the banking sector is expected to hold more than 89% of the conversation between robots and humans. It is also expected to take over much of the banking tasks and save time for the CEO on financial tasks. Additionally, the use of automation has been observed to help in speedy complaint redressal, handling daily transactions, and recording of the same with accuracy. It can also help in reducing the processing time of invoices.
Automation in finance refers to using technology to carry out financial processes and operations. An automation software solution incorporates artificial intelligence (AI), and robotic process automation and even combines them into intelligent automation.
A Sudden Increase in FDI to Latin America to Boost the Market Growth
The United Nations, Conference on Trade and Development 2021 saw a 56% increase in the FDI inflow to Latin America amounting to USD 134 billion. This is following a considerable plunge in FDI following COVID-19.
Announcing green field projects all over Latin America, was the major reason for a sudden increase in the FDI inflow into the region. The growth in FDI was mainly focused on traditional industries including electricity, car manufacturing, extractive industries, and financial and insurance services.
However, the potential need to reduce the charge levied on each customer, Robo advisor services which lack flexibility, and the limitations for the customers to meet the financial advisor are expected to operate as key restraints to the growth of the Latin America Robo advisory market.
This report also provides the existing competitive scenario of some of the key players of the Latin America Robo advisory market which includes company profiling of Betterment LLC, Wealthfront Corporation, Personal Capital Corporation, Charles Schwab & Co., Inc., Future Advisor, FMR LLC, M1 Holdings Inc, SigFig Wealth Management, LLC, The Vanguard Group, Inc., Fincite Gmbh., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Latin America Robo advisory market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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