Market Insights Financial Wealth Management Digital Investment

Robo-Advisors - Iceland

Iceland

In 2024, it is projected that the assets under management in the Robo-Advisors market will reach a substantial amount of US$166.10m.
Looking ahead, the assets under management are expected to exhibit a steady annual growth rate (CAGR 2024-2027) of 11.10%, resulting in a projected total amount of US$227.80m by 2027.
Furthermore, in the Robo-Advisors market, the number of users is anticipated to reach 696.200users by 2027.
This indicates a significant potential for expansion and adoption of Robo-Advisors market in the coming years.
It is worth noting that the average assets under management per user in the Robo-Advisors market is projected to be around US$266.90k in 2024.
This metric provides insight into the value and scale of assets managed by Robo-Advisors market for each individual user.
When comparing these figures on a global scale, it becomes evident that United States leads the pack with the highest assets under management.
In 2024, United States is projected to have an impressive amount of US$1,459,000.00m in assets under management in the Robo-Advisors market.
It is important to acknowledge that these numbers and projections are specific to the global Robo-Advisors market and not exclusive to any particular country.
However, it is interesting to note the potential impact and growth opportunities that Robo-Advisors market may present for countries like in Iceland.
Iceland's emerging market for Robo-Advisors is driven by a tech-savvy population seeking convenient and affordable investment solutions.

Key regions: Asia, Canada, Hong Kong, Singapore, Germany

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.