Smart Advisor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Smart Advisors Market is segmented by offerings (software and services), applications (healthcare, consumer electronics, and retail), and geography. The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Smart Advisor Market Size

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Smart Advisor Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 6.96 Billion
Market Size (2029) USD 17.29 Billion
CAGR (2024 - 2029) 19.96 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Smart Advisor Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Smart Advisor Market Analysis

The Smart Advisor Market size is estimated at USD 6.96 billion in 2024, and is expected to reach USD 17.29 billion by 2029, growing at a CAGR of 19.96% during the forecast period (2024-2029).

An application program that is used to understand the natural language and complete all the electronic tasks for an end user is called the smart advisor program. A smart advisor provides operational data for better decision-making. A smart advisor is an intelligent search engine that gives agents access to the knowledge bases of multiple businesses. Additionally, it allows knowledge base managers and chatbot content creators to collaborate while agents chat with clients.

  • Many instances of financial fraud were reported during the COVID-19 pandemic, resulting in fraud claims costing governments worldwide billions of dollars. The Fintech companies started to move towards innovative tools to handle these frauds. UK Govt., in collaboration with fintech company Quantexa, launched "Spotlight," an automated due-diligence tool. Using Spotlight, a lot of data can be collected, and risk indicators can be provided against those data points, resulting in a better informed and timely award decision.
  • Increasing cybercrimes are posing challenges to the smart advisor market. A recent KPMG survey identified cyber security risk as the biggest threat to the organization's growth in the near future. This will impact the security of software that help agents in real time based on what the visitor is asking in the chat. A survey revealed cybercrime costs the global economy USD 470 billion in annual losses due to consumer data breaches, financial crimes, market manipulation, and intellectual property theft.
  • A financial counselor is necessary for successful business operations in every area. The healthcare sector is one industry implementing smart advice for improved performance. Companies that have analytical capacity handle the most urgent healthcare demands. Storage, query, and analysis of clinical data are currently tricky due to the need for more data consolidation. These Business Intelligence companies provide decision-makers with the right tools to assess the use of resources and find economies of scale.
  • In January 2023, Creative Virtual, one of the global leaders in conversational AI for customer and employee engagement, published a buyer's guide written to assist with chatbot purchasing decisions in the current year. The in-depth guide includes a comparison chart that evaluates the capabilities of conversational AI solutions. A conversational AI specialist differs from an add-on bot vendor, and their core product is their conversational AI platform and established history of delivering highly successful virtual agent and chatbot solutions.
  • Real estate companies also look forward to technological advancements to gain valuable insights into buyer portfolios. Tools like the suitable intelligent document processor (IDP) are being used to feed more data into desired end systems with little to no manual intervention. AI's in-depth knowledge of various document types will equip the company to make profitable deals and financial decisions.

Smart Advisor Market Trends

The Retail Segment is Expected to Witness Significant Adoption for Smart Advisor Solutions.

  • Automated tools like robo-advisors and passive investing are attracting investors. Therefore advisors are switching to data analytics to improve the client experience. Smart advisor applications like Live Connections help advisors to approach marketing, business development, and lead generation in the digital age.
  • Financial Advisors (FA) often need help to keep up with real-time market changes and client needs. To overcome this gap, next-gen AI/ML technologies are becoming essential in developing intelligent solutions. These AI-powered smart advisor tools can scan multiple data sources for market data, events, and news. These tools also manage numerous client portfolios simultaneously, like social media footprints, to determine their life events. Thus, FA can analyze critical market insights more quickly and take timely action to reduce risk or improve returns on investment.
  • Advisory firms are collaborating across borders for business expansion. In December 2022, the National Association of Software and Services Companies (NASSCOM) partnered with New South Wales Government's economic development, called NSW, to organize roadshows for Indian technology companies to highlight business and investment opportunities in Australia.
  • October 2022 - AccessFintech joined hands with Deloitte to assist financial institutions in their struggle to comply with the impending Consolidated Audit Trail regulation (CAT). By using AccesssFintech's CAT Error Resolution workflow, Clients will be saved from monetary penalties as it will be easy to investigate errors and collaborate in a structured manner.
  • In a survey conducted by Accenture, eight in ten advisors accepted that using a one-stop platform or digitalizing applications into a single screen would help improve their efficiency. The research pointed out that this would boost advisor productivity three to seven times in the next three years.
Smart Advisor Market - Share of firms worldwide reporting measurable business value from data and analytics investments from 2020 to 2023

European Market is Expected to Grow Significantly

  • Fintech activity is expanding throughout Europe. According to a report by Mckinsey, pricing and customer experience are the top reasons for banking with fintech, for consumers, as per the survey. European banks rely on various fintech collaborations in major sectors, including operations and payments. Fintech Sector creates more than 1 million jobs across Europe, with huge potential for growth. Fintechs in Europe represented a total valuation of almost 453 billion USD as of June 2022.
  • According to Finch Capital insights, more than 250 fintech businesses specialize in KYC compliance in Europe, while more than 300 provide cost management software. Spain's government passed the Startups Law to encourage entrepreneurship and make the country more appealing to foreign investors and creative thinkers. Although Spain's Fintech market is less developed than its European neighbors France and Germany, the EU offers intriguing potential for Spanish Fintechs.
  • In January 2022, ABN Amro invested in Laka, a bicycle insurance provider for retail and commercial customers. The growing demand for e-mobility prompted ABN AMRO Ventures to invest. This will assist Laka in its mission to become the top green mobility insurtech in Europe. On the other side, ABM AMRO will increase its clientele by providing world-class digital services and assisting them in making the switch to a more sustainable way of life.
Smart Advisory Market - Growth Rate by Region

Smart Advisor Industry Overview

The smart advisor market is highly competitive because of many players. Some prominent smart advisory companies are dominating the market with their trust among customers. The advisors must find the appropriate balance of data-driven analytics and empathetically-driven discussions to be successful in the business. Data protection is a problem as smart advisor solutions handle the firm's sensitive data. Customers, therefore, favor well-established companies for smart adviser solutions. Some of the known players in this service are eGain, IBM, Cisco, and more.

  • May 2023 - Creative Virtual, one of the leading conversational AI companies that enables businesses to deliver seamless, personalized digital support to customers, employees, and contact center agents, released Gluon, a new version of its V-PersonTM technology. Powering Creative Virtual’s V-PortalTM and V-Person product suites, the Gluon release has new technical capabilities and provides a better user experience.
  • September 2022 - eGain partners with Feet Management company to provide a centralized omnichannel knowledge hub to transform their customer service experience. With its knowledge management expertise and ease of connection with leading CRM systems, eGain Knowledge Hub will support agents in 19 languages in service contact centers across the globe for this fleet management company.

Smart Advisor Market Leaders

  1. IBM Corporation

  2. eGain Corporation

  3. Creative Virtual Pvt Ltd.

  4. CX Company

  5. 24/7 Customer Inc.

*Disclaimer: Major Players sorted in no particular order

Smart Advisor Market Concentration
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Smart Advisor Market News

  • November 2023 - Nasdaq Launched an Innovative Solution for Financial Advisors in Partnership with Trackinsight. US Advisors now have access to a new tool in their toolbox with the launch of Fundsight, a free online platform created by Nasdaq and Trackinsight. The site, which is accessible through a simple single sign-on that verifies advisors through their FINRA CRD number, provides new and unique tools to advisors, allowing easy access to fund discovery, research, portfolio management, investment ideas, and content, all created with the intent of saving advisors time to focus on clients and grow their business.
  • October 2022 - Wazir Advisor, an Indian management consulting firm, joined ITA Germany, a part of RWTH Aachen University. The partnership could aim to provide the latest and trending services to textile, apparel, and technical textile stakeholders in India, who look forwards to changing times and embrace best worldwide practices. The rising cost of manufacturing, lack of skilled labor, and the need for quicker decision-making urged the necessity of digitalization in the sector.
  • December 2022 - Waterfield Advisors, an India-based Wealth Advisory firm, collaborated with Singapore Airlines to air Waterfield commercial via an in-flight entertainment system across all Singapore Airlines flights worldwide. This move will help the advisory firm offer its services internationally to clients looking to invest in India.

Smart Advisor Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Burgeoning Demand for Intelligent Customer Engagement

      2. 4.2.2 Demand for Automation for Cost Management in the Healthcare

      3. 4.2.3 Increasing Penetration of Websites and Mobile Applications Integrated with Cloud Computing

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Awareness and Information and Availability as add-in Under Analytics

    4. 4.4 Industry Value Chain Analysis

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Assessment on the Impact of COVID-19 on the Market



    1. 6.1 By Offerings

      1. 6.1.1 Software

      2. 6.1.2 Services

    2. 6.2 By End-user Verticals

      1. 6.2.1 BFSI

      2. 6.2.2 Retail

      3. 6.2.3 Travel and Hospitality

      4. 6.2.4 Government

      5. 6.2.5 Other End-user Verticals (Healthcare and Consumer Electronics)

    3. 6.3 Geography

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia Pacific

      4. 6.3.4 Rest of the World


    1. 7.1 Company Profiles*

      1. 7.1.1 IBM Corporation

      2. 7.1.2 eGain Corporation

      3. 7.1.3 Creative Virtual Pvt. Ltd

      4. 7.1.4 CX Company Limited

      5. 7.1.5 24/7 Customer Inc.

      6. 7.1.6 Nuance Communications Inc.

      7. 7.1.7 Artificial Solutions International AB

      8. 7.1.8 Next IT Corporation

      9. 7.1.9 Speakoit Inc.

      10. 7.1.10 Codebaby Corporation



**Subject to Availability
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Smart Advisor Industry Segmentation

In earlier days, some personal assistants were employed to remind the end users about appointments, place calls, take dictations, read emails, look for phone numbers, anticipate requests, and more. These tasks are now handled by an application program used to understand the natural language and complete all the electronic tasks for an end user called the smart advisor program. A smart advisor provides operational data for better decision-making.

The smart advisor market is segmented by offerings (software and services), applications (healthcare, consumer electronics, and retail), and geography (North America, Europe, Asia Pacific, Rest of the World). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Offerings
By End-user Verticals
Travel and Hospitality
Other End-user Verticals (Healthcare and Consumer Electronics)
North America
Asia Pacific
Rest of the World
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Smart Advisor Market Research FAQs

The Smart Advisor Market size is expected to reach USD 6.96 billion in 2024 and grow at a CAGR of 19.96% to reach USD 17.29 billion by 2029.

In 2024, the Smart Advisor Market size is expected to reach USD 6.96 billion.

IBM Corporation, eGain Corporation, Creative Virtual Pvt Ltd., CX Company and 24/7 Customer Inc. are the major companies operating in the Smart Advisor Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Smart Advisor Market.

In 2023, the Smart Advisor Market size was estimated at USD 5.80 billion. The report covers the Smart Advisor Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Smart Advisor Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Smart Advisor Industry Report

Statistics for the 2023 Smart Advisor market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Smart Advisor analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Smart Advisor Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)