Asia-Pacific’s asset and wealth management (AWM) industry is expected to witness strong growth over the next five years, creating US$47 billion in new revenue opportunities by 2030, according to PwC’s latest report, Ahead of the Curve: Asset and Wealth Management Revolution Asia-Pacific. The report projects assets under management (AuM) in the region to grow from US$23.2 trillion in 2024 to US$34.5 trillion by 2030, representing a compound annual growth rate (CAGR) of 6.8%.
The report highlights that Asia-Pacific is becoming one of the world’s fastest-growing wealth markets, driven by rising household wealth, expanding pension assets, digital innovation and supportive government reforms. Despite this growth, professional asset managers currently oversee less than one-fourth of the region’s investable wealth, leaving significant room for expansion.
Sidharth Diwan, Partner and Leader – Asset and Wealth Management, PwC India said, “India is not a single market for AWM firms — it has at least two distinct ones running in parallel. The retail side is being shaped by UPI, Aadhaar, and the rise of digital-first investors from Tier 2, 3, and 4 cities, which calls for mobile-first product and distribution design. The institutional and High Net Worth (HNW) side is being shaped by reforms in pensions, insurance, and alternatives, where allocations remain well below global benchmarks. For most managers, the practical question is sequencing — which capabilities to build first, and how to participate in both inbound and outbound flows over the next three to five years.”
India stands out as one of the region’s strongest growth markets. According to the report, the country is benefiting from rapid financial inclusion, a growing retail investor base, expanding pension and insurance assets, and a thriving digital payments ecosystem. The report also notes that India’s high-net-worth population is expected to grow faster than any other major Asia-Pacific market through 2030, supported by a large intergenerational wealth transfer.
The report also finds that technology is reshaping the industry. Around 71% of institutional investors in Asia-Pacific plan to allocate capital to asset managers developing technology-enabled products and services, while younger investors are increasingly seeking technology-focused, ESG and climate-related investment opportunities.
PwC believes firms that combine technology, local market expertise and innovative investment solutions will be best positioned to benefit from the region’s next phase of growth.
