APAC Wealth Management Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 31.80 Trillion |
| Market Size (2029) | USD 46.98 Trillion |
| CAGR (2024 - 2029) | 8.12 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Wealth Management Market ANalysis
The APAC Wealth Management Market size in terms of assets under management value is expected to grow from USD 31.80 trillion in 2024 to USD 46.98 trillion by 2029, at a CAGR of 8.12% during the forecast period (2024-2029).
The Asia-Pacific wealth management market is a financial service providing high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs) with wealth management solutions. Economic growth, rising affluence, and demand for personalized financial solutions are the factors that drive the market’s growth. The market provides industry participants in the Asia-Pacific region immense opportunities for increasing digital transformation, ESG investing, cross-border wealth management, and family office services.
The primary factor that acts as the driver of the market is the digitalization of wealth management services. The current high-net-worth (HNW) clients primarily rely on digital means to manage their wealth. Also, customer loyalty has increased due to the increased usage of digital platforms for wealth management because data analytics has enhanced investors' returns on investment (ROI).
The increasing adoption of advanced technologies like chatbots, robo-advisors, IoT, AI, and big data analytics has led to the growth of the Asia-Pacific wealth management market. Due to the increased development of digitalization, wealth management providers are quickly investing in client engagement by providing digital and voice-enabled assistants.
APAC Wealth Management Market Trends
Fintech Drives the Market
Wealth managers rapidly invest in new technologies like robo-advisor, artificial intelligence (AI), robotic process automation, and digital identification (ID) technologies to enhance customer experience. Fintechs consist of a vast range of technologies that improve and automate the delivery process of financial services. As robo-advisor technology consists of automated & algorithm-based systems to provide customized portfolio management advice to customers, this technology is popular among wealth management providers. Since the growth of Fintechs improves efficiency and transparency in wealth management business operations, it increases market development.
China Dominates the Market
The wealth management market is famous in China because of its high income. Factors like minimizing unnecessary taxes and strengthening financial security have increased the demand for financial advisors. Many international financial institutions have enterprises approved by the China Securities Regulatory Commission for providing asset management and brokerage services within China. The rapid increase in advanced technology and evolving customer segments contributes to the significant market growth in China. Also, the presence of management service sectors like banks, wealth management firms, investment advisors, and insurance companies supports the market’s growth.
APAC Wealth Management Industry Overview
The Asia-Pacific wealth management market is consolidated. Major players are penetrating the market through mergers and acquisitions and traditional investment opportunities, making the Asia-Pacific wealth management market very competitive and robust. Some of the key players in the market are Aberdeen Standard Investments, China Life Private Equity, UBS, BlackRock, and ICICI Prudential Asset Management.
APAC Wealth Management Market Leaders
Aberdeen Standard Investments
China Life Private Equity
UBS
BlackRock
ICICI Prudential Asset Management
*Disclaimer: Major Players sorted in no particular order
APAC Wealth Management Market News
- June 2023: BlackRock, the world's leading provider of investment, advisory, and risk management solutions, partnered with Avaloq Unveil, a wealth management technology and services provider. The aim was to provide integrated technology solutions, meeting the evolving needs of wealth managers.
- March 2023: UBS, a leading investment bank and financial services company, acquired Credit Suisse, a global investment bank and financial services company, to strengthen UBS’s position as the top international wealth and asset manager.
APAC Wealth Management Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Diverse Range of Investment Opportunities in the Region Drives the Market
4.3 Market Restraints
4.3.1 Regulatory Challenges and Evolving Compliance Requirements
4.4 Market Oppurtunities
4.4.1 Technological Advancements in Wealth Management Market
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technology Innovations in the Market
4.7 Insights into Regulatory Landscape Governing the Market
4.8 Impacts of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Client Type
5.1.1 HNWI
5.1.2 Retail/Individuals
5.1.3 Other Client Types (Financial Institutions Like Pension Funds, Insurance Companies, etc.)
5.2 By Provider
5.2.1 Private Banks
5.2.2 Independent/External Asset Managers
5.2.3 Family Offices
5.2.4 Other Providers (Fintech Advisors, etc.)
5.3 By Geography
5.3.1 India
5.3.2 Japan
5.3.3 China
5.3.4 Singapore
5.3.5 Indonesia
5.3.6 Malaysia
5.3.7 Vietnam
5.3.8 Hong Kong
5.3.9 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 UBS
6.2.2 Citi Private Bank
6.2.3 HSBC Private Bank
6.2.4 Aberdeen Standard Investments
6.2.5 Credit Suisse
6.2.6 BlackRock
6.2.7 Franklin Templeton
6.2.8 ICICI Prudential Asset Management
6.2.9 BNP Paribas Wealth Management
6.2.10 China Life Private Equity*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
APAC Wealth Management Indsutry Segmentation
Wealth management is an investment financial service that addresses affluent clients' investment needs by combining other financial services. Through this process, the advisor gains information about the client’s wants and specific situation and forms a personalized strategy comprising financial products and services.
The Asia-Pacific wealth management market is segmented by client type, provider, and country. The market is segmented by client type into HNWI, retail/individuals, and other client types (like financial institutions such as pension funds and insurance companies). By provider, the market is segmented into private banks, independent/external asset managers, family offices, and other providers. The market is segmented by geography into India, China, Japan, Hong Kong, Singapore, Indonesia, Malaysia, Vietnam, and the Rest of APAC. The report offers market size and forecasts for the Asia-Pacific wealth management market in value (USD) for all the above segments.
| By Client Type | |
| HNWI | |
| Retail/Individuals | |
| Other Client Types (Financial Institutions Like Pension Funds, Insurance Companies, etc.) |
| By Provider | |
| Private Banks | |
| Independent/External Asset Managers | |
| Family Offices | |
| Other Providers (Fintech Advisors, etc.) |
| By Geography | |
| India | |
| Japan | |
| China | |
| Singapore | |
| Indonesia | |
| Malaysia | |
| Vietnam | |
| Hong Kong | |
| Rest of Asia-Pacific |
APAC Wealth Management Market Research FAQs
How big is the APAC Wealth Management Market?
The APAC Wealth Management Market size is expected to reach USD 31.80 trillion in 2024 and grow at a CAGR of 8.12% to reach USD 46.98 trillion by 2029.
What is the current APAC Wealth Management Market size?
In 2024, the APAC Wealth Management Market size is expected to reach USD 31.80 trillion.
Who are the key players in APAC Wealth Management Market?
Aberdeen Standard Investments, China Life Private Equity, UBS, BlackRock and ICICI Prudential Asset Management are the major companies operating in the APAC Wealth Management Market.
What years does this APAC Wealth Management Market cover, and what was the market size in 2023?
In 2023, the APAC Wealth Management Market size was estimated at USD 29.22 trillion. The report covers the APAC Wealth Management Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the APAC Wealth Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Wealth Management Industry Report
Statistics for the 2024 APAC Wealth Management market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC Wealth Management analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
