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Global Personal Finance Software Market Trends, Forecast: By Product Type: Web-Based Software, Mobile-Based Software; By End User: Small Business Users, Individual Consumers; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; 2024-2032
Global Personal Finance Software Market Outlook
The global personal finance software market attained a value of about USD 1.2 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 5.7% to reach nearly USD 1.66 billion by 2032.
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Rising Adoption of Personal Finance Software in Small Business is Augmenting the Personal Finance Software Industry
The surging adoption of personal finance software in managing small businesses is propelling the industry growth. Personal finance software can track all the liabilities and assets effectively in a balance sheet. It also enables business owners to focus on business without spending much time on taxes as personal finance software can create tax reports on business income, deductions, and expenses, thereby accelerating the market growth. Moreover, it can aid in creating a custom report for tax schedules, which is invigorating the growth of the personal finance software industry. It tracks bills and invoices automatically as receivables and payables. Hence, it can speed up the workflow, due to which it is increasingly used in managing small businesses, therefore providing further impetus to the industry growth.
The increasing smartphone penetration and the growing demand for effective financial solutions are augmenting the market growth for personal finance software. Personal finance software enables consumers to discover all their transactions and accounts simultaneously. Moreover, it reviews consumers’ transactions to ensure legitimacy and prevent fraud. The rising demand to manage personal finance owing to the increasing asset ownerships by the emerging middle class is also propelling the market growth. In addition, the use of various anti-virus and anti-malware solutions in personal finance software to enhance security is also increasing its adoption, therefore fuelling the market growth.
Personal Finance Software: Market Segmentation
Personal finance software is software that manages one’s savings, investments, and spending automatically. It can also aid in banking, mortgages, retirement planning, budgeting, and tax and estate planning. It assesses one’s financial situation and provides details for accomplishing financial goals effectively. Personal finance software can prevent interest on late payments by providing scheduled reminders for deposits, bills, and paychecks, among others.
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The major product types of personal finance software are:
- Web-Based Software
- Mobile-Based Software
The market can be broadly categorised on the basis of its end users into:
- Small Business Users
- Individual Consumers
The EMR report looks into the regional markets of personal finance software like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Technological Advancements to Bolster the Market Growth for Personal Finance Software
The integration of the latest technologies in personal finance software is revolutionising the industry. It enables developers to personalise and customise the software as per consumers’ demands, which is consequently aiding the market growth. This is increasing the deployment of artificial intelligence (AI) and Big Data to understand consumers’ behaviour to deliver a personalised experience to the consumer. Moreover, the use of artificial intelligence to interact with consumers and provide instant response and quick complaint resolution, and to improve the experience of consumers is increasing the adoption of personal finance software, therefore propelling the industry growth. The integration of blockchains in the software to increase the security and safety of confidential information of personal finances, credit cards, and investments, among others, is expected to augment the market growth for personal finance software.
The COVID-19 pandemic has significantly boosted the reliability of technology owing to stay-at-home orders and stringent lockdown regulations. The pandemic has severely impacted the economies of major countries, leading to rising unemployment rates and surging financial insecurity. This is increasing the demand for personal finance software as more people are analysing their spending habits. In addition, the increasing remote investments to ensure financial security due to the pandemic is further invigorating the growth of the personal finance software industry growth.
Key Industry Players in the Global Personal Finance Software Market
The report presents a detailed analysis of the following key players in the global personal finance software market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Quicken Inc.
- The Infinite Kind
- You Need A Budget LLC
- Microsoft Corporation
- Moneyspire INC.
- Pocketsmith Ltd.
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, End User, Region |
| Breakup by Product Type | Web-Based Software, Mobile-Based Software |
| Breakup by End User | Small Business Users, Individual Consumers |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Quicken Inc., The Infinite Kind, You Need A Budget LLC, Microsoft Corporation, Moneyspire INC., Pocketsmith Ltd., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Personal Finance Software Market Analysis
8.1 Key Industry Highlights
8.2 Global Personal Finance Software Historical Market (2018-2023)
8.3 Global Personal Finance Software Market Forecast (2024-2032)
8.4 Global Personal Finance Software Market by Product Type
8.4.1 Web-Based Software
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Mobile-Based Software
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Personal Finance Software Market by End User
8.5.1 Small Business Users
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Individual Consumers
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Personal Finance Software Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Personal Finance Software Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Personal Finance Software Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Personal Finance Software Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Personal Finance Software Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Personal Finance Software Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Quicken Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 The Infinite Kind
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 You Need A Budget LLC
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Microsoft Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Moneyspire INC.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Pocketsmith Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Personal Finance Software Market: Key Industry Highlights, 2018 and 2032
2. Global Personal Finance Software Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Global Personal Finance Software Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Global Personal Finance Software Historical Market: Breakup by End User (USD Million), 2018-2023
5. Global Personal Finance Software Market Forecast: Breakup by End User (USD Million), 2024-2032
6. Global Personal Finance Software Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Personal Finance Software Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Personal Finance Software Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Personal Finance Software Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Personal Finance Software Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Personal Finance Software Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Personal Finance Software Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Personal Finance Software Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Personal Finance Software Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Personal Finance Software Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Personal Finance Software Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Personal Finance Software Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Personal Finance Software Market Structure
Key Questions Answered in the Report
In 2023, the global personal finance software market attained a value of nearly USD 1.2 billion.
The market is projected to grow at a CAGR of 5.7% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 1.66 billion by 2032.
The industry is being aided by the rising adoption of personal finance software by small business users and the growing demand to manage personal finance easily by consumers due to increasing asset ownership.
The market is expected to be driven by technological advancements, the increasing reliance on technology owing to the coronavirus pandemic, and the surging financial insecurity due to rising unemployment rates.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major product types of personal finance software in the industry are web-based software and mobile-based software.
The significant end users in the market are small business users and individual consumers.
The major players in the industry are Quicken Inc., The Infinite Kind, You Need A Budget LLC, Microsoft Corporation, Moneyspire INC., and Pocketsmith Ltd., among others.
Analyst Review
The global personal finance software market attained a value of approximately USD 1.2 billion in 2023, driven by the rising adoption of personal finance software by small business users. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 5.7%. The market is projected to reach about USD 1.66 billion by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its product types, the personal finance software industry can be segmented into web-based software and mobile-based software. On the basis of end uses, the industry is divided into small business users and individual consumers. The major regional markets for personal finance software are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Quicken Inc., The Infinite Kind, You Need A Budget LLC, Microsoft Corporation, Moneyspire INC., and Pocketsmith Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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