Digital Estate Planning Services Market Size, Share, Trends, Growth and Forecast 2032

Digital Estate Planning Services Industry Prospective:

The global digital estate planning services market size was evaluated at $246 billion in 2023 and is slated to hit $350 billion by the end of 2032 with a CAGR of nearly 6% between 2024 and 2032.

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Digital Estate Planning Services Market: Overview

Digital estate planning is a key process that ensures the digital assets of an individual are protected & secured even after the demise of that individual. Reportedly, key parts of digital estate planning include digital asset inventory, management instructions, access information, secured storage, and legal authorization. Moreover, digital estate planning services help protect digital assets from identity theft and hacking. Furthermore, only an authorized person can access the key information without undergoing complexities such as legal procedures.

Key Insights

• As per the analysis shared by our research analyst, the global digital estate planning services market is projected to expand annually at the annual growth rate of around 6% over the forecast timespan (2024-2032)
• In terms of revenue, the global digital estate planning services market size was evaluated at nearly $246 billion in 2023 and is expected to reach $350 billion by 2032.
• The global digital estate planning services market is anticipated to grow rapidly over the forecast timespan owing to a surge in digital footprints along with escalating awareness about the significance of digital estate planning services among the people.
• In terms of service type, the estate planning services segment is slated to register the highest CAGR over the forecast period.
• Based on end-user, the individual customer segment is predicted to contribute majorly towards the global industry growth in the upcoming years.
• Region-wise, the European digital estate planning services industry is projected to register the fastest CAGR during the projected timespan.

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Digital Estate Planning Services Market: Growth Factors

An increase in awareness about the importance of the services to drive the global market expansion

A surge in digital footprints, along with escalating awareness about the significance of digital estate planning services among the people, will drive the growth of the digital estate planning services market across the globe. Furthermore, technological breakthroughs along with a rise in the aging populace will embellish the expansion of the digital estate planning services market. Concerns pertaining to confidentiality as well as privacy of digital assets can optimize the expansion of the global market. Massive demand for professional services and an increase in the outsourcing of these services are likely to prompt the expansion of the market globally. Easy integration of digital estate planning services with conventional services is projected to embellish the global market trends.

Digital Estate Planning Services Market: Restraints

Less knowhow about the service benefits in developing countries can obstruct the global industry expansion by 2032

Less awareness about digital estate planning services in emerging economies as well as remote regions of developed countries can restrict the expansion of the global digital estate planning services industry in the coming years. Apart from this, gaining authorization to the owner’s digital account after the death can be a cumbersome process, which can halt the expansion of the industry across the globe.

Digital Estate Planning Services Market: Opportunities

Launching new service models can help in the booming of the global market growth over forecast timespan

Launching direct-to-customer models along with the escalating demand for digital estate planning services by Gen Z and the millennial population will create new growth opportunities for the global digital estate planning services market. Moreover, the creation of a hybrid advisor-client prototype along with corporate digital legacy management activities is predicted to spur the global market progression in the coming years.

Digital Estate Planning Services Market: Challenges

Risks of data breaches and rise in service costs can challenge the expansion of the global industry over analysis timeline

Growing risks of data safety and resistance to change from financial advisors & estate planners related to the use of the services can challenge the expansion of the global digital estate planning services industry. Moreover, growing charges for these services can obstruct the expansion of the global industry.

Digital Estate Planning Services Market: Segmentation

The global digital estate planning services market is divided into service type, end-user, and region.                                             

In terms of service type, the digital estate planning services market across the globe is segmented into estate planning services, grief counseling & support services, funeral services, digital legacy services, and advanced healthcare directives segments. Apparently, the estate planning services segment, which accumulated nearly 64% of the global market share in 2023, is anticipated to register the fastest CAGR during the coming years as a result of surging awareness about the significance of the services along with its humungous demand.

Based on the end-user, the global digital estate planning services industry is segmented into corporate customers and individual customers segments. Apparently, the individual customers segment, which led the global industry in 2023, is likely to contribute substantially towards the industry expansion globally in the upcoming years. This can be due to surging awareness about the services among individuals. Moreover, diverse asset management requirements and cultural changes can prop up the segmental surge.   

Digital Estate Planning Services Market: Report Scope

Digital Estate Planning Services Market: Regional Insights

North America is forecast to maintain leadership status in the global market over the analysis timeline

North America, which contributed about 30% of the global digital estate planning services market share in 2023, is expected to establish a number one position in the global market in the coming few years. In addition, the regional market upsurge in the coming eight years can be credited to an increase in the geriatric population preferring digital estate planning services. Moreover, an increase in the focus on the urban population requiring digital estate planning services as well as the presence of key service providers in the countries such as the U.S. will drive the regional market trends.

The European digital estate planning services industry is slated to register the highest gains annually in the coming eight years. The expansion of the industry in the continent can be subject to strict laws related to GDPR and new kinds of service offerings in countries such as the UK, France, Italy, Spain, and Sweden.

Key Developments

• In the first half of 2024, Vanguard launched digital estate planning tools for investors by partnering with Vanilla, a key player in digital estate planning tools & services. The move will help the Vanguard Personal Advisor Wealth Management stake-owners in efficiently handling estate planning activities in the coming years.

Digital Estate Planning Services Market: Competitive Space

The global digital estate planning services market profiles key players such as:

• Rocket Lawyer
• GoodTrust
• Legacy Armour
• Arken Legal
• Everplans
• OneDigitalTrust
• Perpetu
• Vivos
• LegacyAngel
• Wealth.com.

The global digital estate planning services market is segmented as follows:

By Service Type

• Estate Planning Services
• Grief Counseling & Support Services
• Funeral Services
• Digital Legacy Services
• Advanced Healthcare Directives

By End-User

• Corporate Customers
• Individual Customers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa