North America was the largest region in the investments market in 2017, accounting for 55% market share. This can be attributed to high presence of assets under management in the US and Canada. Western Europe was the second largest region accounting for 20% market share. Africa was the smallest region accounting for 1% market share.
The demand for automated or robo advice is growing rapidly in wealth management services. Automated advice is an online wealth management service which provides automated or algorithmic investment advice without any human intervention. This is becoming popular mainly because robo advisors are relatively cheap, compared to traditional wealth management services. Though robo advice is not entirely new, it is recently gaining traction amongst users. According consulting firm Corporate Insight, total assets managed by the 11 leading robo advisors in the US rose 65% during 2014, and registered assets under management (AUM) reached $19 billion.