Wealth Management - Northern Africa

Northern Africa

In Northern Africa, the Wealth Management market is expected to witness significant growth in the coming years.
According to projections, the Assets under Management in this market will reach US$124.50bn by 2024.
Financial Advisory is set to dominate the market, with a projected market volume of US$112.90bn in the same year.
Furthermore, the Assets under Management are anticipated to showcase an annual growth rate of 1.57% between 2024 and 2028.
This growth trajectory is expected to result in a market volume of US$132.50bn by 2028.
The Wealth Management market in Northern Africa is poised for steady expansion in the coming years, driven by various factors and opportunities within the region.
In Northern Africa, the wealth management market is experiencing a surge in demand for Sharia-compliant investment products.

Key regions: United States, United Kingdom, Germany, Hong Kong, Singapore

Market

Region

Region comparison

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Analyst Opinion

The Wealth Management market in Northern Africa is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory.

Customer preferences in Northern Africa are shifting towards wealth management services as individuals seek to grow and protect their assets. The region has a growing middle class with increased disposable income, leading to a greater demand for investment options. Additionally, there is a desire for professional advice and guidance in managing wealth, as individuals become more aware of the benefits of long-term financial planning.

Trends in the market reflect the changing dynamics of wealth management in Northern Africa. There is a growing interest in sustainable and socially responsible investments, as individuals prioritize ethical and environmental considerations in their investment decisions. This trend aligns with global movements towards responsible investing and reflects the increasing awareness and concern for environmental and social issues.

Another trend in the market is the adoption of digital wealth management solutions. Technology has revolutionized the way financial services are delivered, and Northern Africa is no exception. The region has seen an increase in the use of mobile banking and online investment platforms, allowing individuals to access wealth management services conveniently and efficiently.

This trend is driven by the region's high mobile penetration rate and the desire for greater convenience and accessibility. Local special circumstances in Northern Africa also contribute to the development of the Wealth Management market. The region has a young and growing population, with a large proportion of individuals entering the workforce.

This demographic shift presents an opportunity for wealth management providers to cater to the financial needs of young professionals and support their long-term financial goals. Furthermore, Northern Africa has a strong entrepreneurial culture, with many individuals starting their own businesses and seeking guidance on managing their wealth. This entrepreneurial spirit creates a demand for specialized wealth management services tailored to the unique needs of business owners and entrepreneurs.

Underlying macroeconomic factors play a crucial role in the development of the Wealth Management market in Northern Africa. Economic stability and growth, as well as favorable regulatory frameworks, create an environment conducive to wealth accumulation and investment. Additionally, the region's increasing integration into the global economy and the diversification of industries contribute to the expansion of wealth management services.

In conclusion, the Wealth Management market in Northern Africa is experiencing growth and development driven by customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. As individuals in the region seek to grow and protect their wealth, wealth management providers are responding with tailored services and innovative solutions. The future of the market looks promising as the region continues to evolve and adapt to the changing dynamics of the global wealth management industry.

Methodology

Data coverage:

The data encompasses B2C enterprises. The figures are based on gross revenues, assets under management, and user & advisor data of relevant services and products offered within the Wealth Management 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 activities (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as: GDP, gross national income (GNI), consumer spending, total investment (% of GDP), high income (% of population), and number of high-net-worth individuals (HNWI). 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 data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).