As technology companies increasingly become critical distribution platforms for wealth management products and services, robo-advisors are gaining huge traction. Strong consumer appeal, a rapidly rising middle class, and a shift towards investment products are some factors driving the Robo-Advisory market growth in China. According to PrivateBanker International, Chinese investors are more likely to use automated investment services. In contrast, only 4.2% of Chinese consumers use a robo-advisor as their primary investment provider, almost double the global average of 2.3%. And the proportion of individuals who have at least tried a robo-advisor stands at 31.8% in China, compared to 13.7% on a global scale. In addition, new entrants face competition from China’s big tech giants, such as Ant Financial and Ping An-backed Lufax, and start-ups like WaCai. And the country’s big banks, such as China Merchants Bank, have developed their robot platforms. All such factors contribute to the Robo-Advisory market growth in China.

Robo-Advisory Market in terms of revenue was estimated to be worth $6.88 billion in 2022 and is poised to reach $61.51 billion by 2030, growing at a CAGR of 44.1% from 2022 to 2030 according to a new report published by The Insight Partners.

https://www.globenewswire.com/en/news-release/2023/09/15/2743897/0/en/Robo-Advisory-Market-worth-61-51-Billion-by-2030-Exclusive-Report-by-The-Insight-Partners.html