Smart Advisors Market- Global Industry Analysis and Forecast (2022-2029)

Smart Advisors Market was valued at US$ 4.1 Bn. in 2021. Global Smart Advisors Market size is estimated to grow at a CAGR of 22.23%.
Smart Advisors Market Overview:
Smart advisor is a smart application program or an advisor program that generally uses artificial intelligence technology to understand the natural language and to accomplish several electronics tasks such as reading texts, emailing messages, place calls, remind users about appointments and many others. The Smart advisor platform consents investment professionals to deliver relevant documents for regulatory compliance communications, sales campaigns, and marketing. Smart Advisor aids qualified financial advisors build meaningful relationships directly with validated consumers who are actively searching for financial advice. Smart Advisor is an innovative digital investor communication platform, which develops efficiency and effectiveness for financial advisors.

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The segments of the Smart Advisors market are investigated in the report (Component, Industry, Application, and Region). Market players and regions have given data (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The Smart Advisors market study gives a comprehensive overview of the present quick advancements in all industrial sectors. The essential data analysis for the historical era from 2017 to 2021 is presented using facts and figures, pictures, and presentations. The analysis looks at the market's drivers, constraints, prospects, and hurdles for Smart Advisors. This MMR report contains investor suggestions based on a detailed study of the current competitive landscape in the Smart Advisors industry sector.
Smart Advisors Market Dynamics:
The smart advisor industry has been witnessing significant growth in recent years and is expected to continue during the forecast year. The growth in the global market size is attributed to the factors like high investments in research & development activities, effective allocation of resources, and growing competition among business rivals. The entry of new players, product innovation strategies among many industries, and technological breakthroughs are some of the prominent driving factors, which are expected to boost the market growth.

A growing implementation of artificial intelligence technology and escalating adoption of cloud based and Internet of things-based solutions in various end-user industries are the major attractive factors behind the growth of the market. Ongoing advancements in technologies such as voice recognition and machine learning, rising adoption of Smartphone along with increasing necessity for internet and surge in the adoption of smart advisor applications by financial institutions and small and medium sized enterprises are likely to enhance the growth of the market during the forecast period. In addition, smart advisor application provides some major benefits such as reliable, easy, and advanced inspection solutions to industrial enterprises, which is ultimately propelling the growth of the market. On the other hand, lack of knowledge, lack of awareness among emerging economies and high deployment costs are major restraining factors that could hamper the growth of the market.

Smart Advisors Syndicate a Human Touch with Innovative Technology

The technology advancements in artificial intelligence, machine learning ad voice recognition technologies, the massive presence of various smart advisor solution and service providers and the trend of using cognitive computing technology in smart advisor application are expected to increase the market growth in the near future. Currently, the Artificial Intelligence program usages the sophisticated algorithm for learning from data inputs helps to offer best prediction of as per end user's requirement. An increase in integration of Artificial Intelligence in different industries for automation of tasks and need of machine operations in performing different tasks are expected to boost the need for smart advising. Now, smart advisors are counterpunching with the technology development of their own, revolving the tables by making data analytics work for them to enhance the client experience. An introduction of automated technology has put pressure on advisors to remain applicable and deliver useful information.

Key players operating in the market are focusing on the deployment of the critical infrastructure that powers investing, corporate governance and communications to enable better financial lives. The growing need to digitize and mutualize financial services, and the power of data and network value are expected to boost the requirement for smart advisors. An increase in passive investing, managed accounts and zero commission trading are bringing barriers for individual investors and boosting the democratization of investing. New entrance key players are demanding new digital tools, better data, and increased access. New technologies like blockchain and AI are opening up key opportunities and also adding pressure to offer effective solutions.

Despite the integration of technology, as robo-advisors and passive investing are capturing the attention of a growing number of investors and financial advisors have faced massive disturbance in the industry.
Smart Advisors Market Segment Analysis:
Smart Advisor permits advisors to send any document based on client delivery preference electronically, print and deliver or mail. It helps to save significant time and cost at the corporate firm level. Investors are mostly preferring to receive electronic materials with a link to a branded web page, which can effectively display content on both desktops and mobile devices. Smart Advisor authorizes financial advisors with efficient communication tools and gives investors access to the communications as per their requirement.

The smart adviser service serves a large and diverse client base like banks, broker-dealers, mutual funds, retirement service providers, corporate issuers and wealth and asset management firms. The clients in the financial services industry include retail and institutional brokerage firms, global banks, mutual funds, asset managers, insurance companies, annuity companies, institutional investors, specialty trading firms, clearing firms, third-party administrators, hedge funds, and financial advisors. The corporate issuer clients are characteristically publicly held companies. In addition to financial services firms, smart adviser service has high demand in the corporate clients from healthcare, insurance, consumer finance, telecommunications, utilities, and other service industries.

The mobile platform segment held dominant position in 2021 and is expected to maintain its dominance with a CAGR of 7.8% during the forecast period. A rising number of mobile users and high adoption of smart advisor technology to provide real-time notification by using mobile augmented reality, to the users are some of the factors, which are expected to drive the market growth. An increase in trend of bring your own device (BYOD) in corporate sector is expected to enhance the growth of the market during the forecast period.

The financial services segment is expected contribute more than 30% share in the market during the forecast period. Smart advisor technology in financial institutions is a modern digital communication platform which is basically used to improve effectiveness and efficiency of financial advisors. This platform enables financial advisors to electronically mail, print, send and deliver any important document to their clients or customers and also provide benefits such as cost and time saving. Thus, surge in the adoption of smart advisor applications in financial institutions such as banks and insurance firms are attributed to the growth of the market.

Many consumers have usually made purchase decisions at the store shelves by taking considerations of the factors like influence behaviours and preferences of consumers. A integration of the innovative technologies like Big Data, artificial intelligence, IoT, automation are digitally disrupting the retail industry in the recent years. The retail industry is adapting new cutting-edge technologies like intelligent point of sales solutions and self-checkout kiosks with the rise of e-commerce, mobile shopping, and smart technologies integration, which is also transforming traditional brick-and-mortar stores to omnichannel stores. Many retailers across the developed countries are adopting smart advisor solutions to increase their customer engagement and focusing on the overcome risk factors like higher operational costs with its e-commerce expansion.
Smart Advisors Market Regional Insights:
Asia Pacific is emerging market for Smart Advisor

Many investors have taken up a range of new investments and initiatives in the manufacturing industries across the emerging economies like China and India. The top priorities contain cost reduction, mainly in light of rising compliance costs and regulatory focus, digitization of the sales force and more effective usage of technology generally. Despite the benefits, disruptive investors are still in the early stages of development and have not yet fully succeed to reach their IT investments or economies of scale. Also, Technological failures of particular platforms also constitute risks for individual companies, predominantly in the ramp-up phase of a new entrant’s start-up.

The smart advisor’s field is dominated by traditional investor and disruptors. Furthermore, traditional insurers are focusing on set up joint ventures with tech companies to compete with disruptor’s and take advantage of the smart advising in China, India, Hong Kong and Japan for their financial benefits. In the Asia Pacific, Nowadays, technology has become a basic prerequisite to ensure the seamless operations in manufacturing industry. The rapid expansion of the end user industries are expected to boost the need for smart advising solution among investors, which helps to give the perdition of their financial services.

Key players operating in the market deliver business critical data, technology solutions and marketing services to enable full-service, regional and independent broker-dealers and investment advisors to better engage with customers to help grow their business. They are also providing enhanced data-centric capabilities to increase the client experience across the entire wealth management lifecycle, including advisor, investor and operational workflows. They are also focusing on the deployment of solutions for reconciliations, securities lending, reference data management, and enterprise workflow management and advisor desktop applications and reporting solutions like cloud-based marketing and customer communication tools.

The objective of the report is to present a comprehensive analysis of the global Smart Advisors Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Smart Advisors Market dynamic, structure by analyzing the market segments and projecting the Smart Advisors Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Smart Advisors Market make the report investor’s guide.
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Smart Advisors Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 4.1 Bn.


Forecast Period 2022 to 2029 CAGR:
22.23%
Market Size in 2029:
US $ 20.42 Bn.


 Segments Covered:
by Component
• Software
• Services


by Industry
• Financial Services
• Healthcare
• Consumer Electronics
• Retails
• Travel & Hospitality
• Government
• Education
• Others


by Application
• Websites
• Social Media
• Mobile Platform
• Contact Centers



Smart Advisors Market by Region
• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa
Worldwide Smart Advisors Market Key Players are:
• IBM Corporation
• eGain Corporation
• Creative Virtual Pvt. Ltd
• CX Company Limited
• 24/7 Customer Inc.
• Nuance Communications Inc.
• Artificial Solutions International AB
• Next IT Corporation
• Speakoit Inc.
• Codebaby Corporation
• Broadridge Solutions
• Netformx
• Speaktoit Inc.

Frequently Asked Questions:

1] What segments are covered in the Smart Advisors Market report?
Ans. The segments covered in the Smart Advisors Market report are based on Component, Industry and Application.

2] Which region is expected to hold the highest share in the Smart Advisors Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Smart Advisors Market.

3] What is the market size of the Smart Advisors Market by 2029?
Ans. The market size of the Smart Advisors Market by 2029 is US$ 20.42 Bn.

4] What is the forecast period for the Smart Advisors Market?
Ans. The forecast period for the Smart Advisors Market is 2021-2029.

5] What was the market size of the Smart Advisors Market in 2021?
Ans. The market size of the Smart Advisors Market in 2021 was US$ 4.1 Bn.