Bibliometric Analysis of Sustainable Publication Trend on Robo-Advisors: A Decade of Literature

Abstract

The emergence of the digital economy has significantly transformed traditional financial advisory services in wealth management. This study aims to identify global research trends on robo-advisors using bibliometric analysis. A comprehensive search was conducted in the Scopus database, covering publications from 2015 to December 2024, resulting in 446 scholarly articles. Bibliometric techniques such as citation network analysis, co-citation analysis, content analysis, publication trends, and keyword analysis were applied to explore the evolution of robo-advisory research. Excel, VOSviewer, and Harzing’s Publish or Perish were used to analyze citation profiles and visualize research networks. The findings reveal a notable increase in scholarly interest in robo-advisors as digital investment tools. Of the 446 documents, 243 (54.48%) were journal articles, with a significant portion rooted in the social sciences. The most cited article, authored by Kobets from Ukraine, received 77 citations, highlighting its influence in the field. Keyword analysis further identified emerging topics and future research directions. This study offers a comprehensive overview of the intellectual structure of robo-advisory research, identifying key countries, institutions, authors, and publication sources. It contributes to the academic discourse by mapping the development of digital financial advisory services and offering insights into their growing role in the investment landscape. The results serve as a valuable reference for researchers, practitioners, and policymakers interested in the evolution and prospects of robo-advisors.