Skip navigation
The Daily Brief
robot businessmen

Robo Advisor User Base Set to Nearly Double by 2024

A new report predicts massive growth in both users and marketshare before the middle of the decade.

Global robo advisor market value is predicted to reach $2.4 trillion in less than five years, according to data compiled by BuyShares. The expansion represents a compound annual growth rate of 26%, with today’s global robo picture weighing in at $987 billion. 

Low fees, small opening balance requirements and an easy-to-use interface have fueled the growth of robo advisor platforms, according to the report. “They are an excellent option for entry-level advisors.”

“The market volume increased by 230% in the last three years,” the report added. 

The small opening balance requirements also mean smaller average AUM per account. In 2020, the average AUM per user was just $4,398 and it’s expected to rise to $5,700 by 2024. The global number of robo advisor users is expected to rise from 224 million today to 436 million by the end of 2024.

Want The Daily Brief delivered directly to your inbox? Sign up for's Morning Memo newsletter.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.