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Global Personal Finance Software Market: By Product Type: Web-Based Software, Mobile-Based Software; By End User: Small Business Users, Individual Consumers; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Personal Finance Software Market Outlook

The global personal finance software market attained a value of about USD 1.07 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 5.7% to reach nearly USD 1.49 billion by 2026.

 

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.

 

Global Personal Finance Software Market

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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: Industry Definition and 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.

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.

 

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 2020
Historical Period 2016-2020
Forecast Period 2021-2026
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, EMR’s 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.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Industry Opportunities and Challenges
8    Global Personal Finance Software Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Personal Finance Software Historical Market (2016-2020) 
    8.3    Global Personal Finance Software Market Forecast (2021-2026)
    8.4    Global Personal Finance Software Market by Product Type
        8.4.1    Web-Based Software
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Mobile-Based Software
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Global Personal Finance Software Market by End User
        8.5.1    Small Business Users
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Individual Consumers
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    Global Personal Finance Software Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Quicken Inc. 
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    The Infinite Kind 
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    You Need A Budget LLC
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Microsoft Corporation 
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Moneyspire INC. 
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Pocketsmith Ltd. 
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments

 

List of Figures and Tables

1.    Global Personal Finance Software Market: Key Industry Highlights, 2016 and 2026
2.    Global Personal Finance Software Historical Market: Breakup by Product Type (USD Million), 2016-2020
3.    Global Personal Finance Software Market Forecast: Breakup by Product Type (USD Million), 2021-2026
4.    Global Personal Finance Software Historical Market: Breakup by End User (USD Million), 2016-2020
5.    Global Personal Finance Software Market Forecast: Breakup by End User (USD Million), 2021-2026
6.    Global Personal Finance Software Historical Market: Breakup by Region (USD Million), 2016-2020
7.    Global Personal Finance Software Market Forecast: Breakup by Region (USD Million), 2021-2026
8.    North America Personal Finance Software Historical Market: Breakup by Country (USD Million), 2016-2020
9.    North America Personal Finance Software Market Forecast: Breakup by Country (USD Million), 2021-2026
10.    Europe Personal Finance Software Historical Market: Breakup by Country (USD Million), 2016-2020
11.    Europe Personal Finance Software Market Forecast: Breakup by Country (USD Million), 2021-2026
12.    Asia Pacific Personal Finance Software Historical Market: Breakup by Country (USD Million), 2016-2020
13.    Asia Pacific Personal Finance Software Market Forecast: Breakup by Country (USD Million), 2021-2026
14.    Latin America Personal Finance Software Historical Market: Breakup by Country (USD Million), 2016-2020
15.    Latin America Personal Finance Software Market Forecast: Breakup by Country (USD Million), 2021-2026
16.    Middle East and Africa Personal Finance Software Historical Market: Breakup by Country (USD Million), 2016-2020
17.    Middle East and Africa Personal Finance Software Market Forecast: Breakup by Country (USD Million), 2021-2026
18.    Global Personal Finance Software Market Structure

Key Questions Answered in the Report

In 2020, the global personal finance software market attained a value of nearly USD 1.07 billion.

The market is projected to grow at a CAGR of 5.7% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 1.49 billion by 2026.

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 1.07 billion in 2020, 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 2021-2026, growing at a CAGR of 5.7%. The market is projected to reach about USD 1.49 billion by 2026.

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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