New York, NY -- (SBWIRE) -- 01/18/2021 -- Continuous growth in HNI (High Net-worth Individuals), digitalisation, and the advent of modern electronic technologies are the key factors propelling financial planning software industry growth.
Market Size – USD 1,004.69 Million in 2019, Market Growth - CAGR of 14.0%. Market Trends – Rising demand for efficient asset management
The Global Financial Planning Software market size is expected to reach USD 3,000.48 Million from USD 1,004.69 Million in 2019, at a CAGR of 14% over the forecast period.

Financial Planning Software helps corporations and individuals manage finances and business records and fulfils accounting needs. It enables firms or individuals to achieve planned financial goals. Financial planning software can help categorise income and expenses, tracking financial accounts, analysing investments & tax-related reports, synchronising transactions with the bank, work with budgets, and also displays snapshots of financial net worth.

Key players in the global financial planning software market are eMoney Advisor, Advicent, PIEtech, Inc., Money Tree, Envestnet, and RightCapital, among others.

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The rise in innovations in the fintech industry, along with large-scale adoption of Artificial Intelligence (AI) and Blockchain, is offering lucrative opportunities for the financial planning software market growth. However, inadequate technical expertise and lack of awareness regarding financial products & services may pose a challenge to the industry growth. Moreover, the implementation of stringent guidelines and changing customer preferences may negatively impact the financial planning software market.

Further key findings from the report suggest:

The Global Financial Planning Software market size is expected to reach USD 3,000.48 Million from USD 1,004.69 Million in 2019, at a CAGR of 14% over the forecast period.
Based on product type, the Cloud-Based Financial Planning Software sub-segment is forecast to register a growth rate of 15.9% over the analysis period. The robust growth can be attributed to the benefits of this software in ensuring easy access to the data and minimising operational costs. The Web-Based Financial Planning Software Segment is anticipated to dominate with nearly 57.6% of the market share.
Based on application, the Wealth Management sub-segment is estimated to grow at a CAGR of 13.7% over the projected timeline. The financial advice and management sub-segment will be showcasing the fastest growth rate of 16% over the analysis period on account of the growing demand for advanced tools to manage finances.
In the regional landscape, New Zealand, India, the U.S., Belgium, Germany, Australia and Canada are the key developers of financial planning software.

The APAC region is estimated to witness a notable growth rate of 15.8% over the analysis period on account of large-scale implementation of financial planning software in various firms across the region.

Europe accounted for the second-largest share of nearly 26.3% of the global financial planning software industry and is expected to grow exponentially through the coming period on account of significant ongoing research activities for innovations in financial planning software in the region.

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Segments covered in the report:

For the purpose of the study, Reports and Data has segmented the Global Financial Planning Software Market on the basis of product type, application, end-user, and region:

Product Type Outlook (Revenue, USD Million; 20167–2027)

On-Premises Financial Planning Software
Web-Based Financial Planning Software
Cloud-Based Financial planning Software

Application Outlook (Revenue, USD Million; 2017–2027)

Financial Advice and Management
Portfolio, Accounting and Trading Management
Wealth Management
Personal Banking

End-User Outlook (Revenue, USD Million; 2017–2027)

Banks
Small and Medium Business Enterprise (SME's)
Large Business Enterprise
Personal Purpose
Others

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The regional analysis covers the following regions of the key geographies of the Financial Planning Software market:

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Global Financial Planning Software Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Financial Planning Software Market Segmentation & Impact Analysis

Continued……….

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