Expense Tracker Apps Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The expense tracker apps market size has grown rapidly in recent years. It will grow from $8.59 billion in 2023 to $9.67 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to smartphone proliferation, increased financial awareness, rise in digital banking, security, and privacy concerns, and rise of the gig economy.
The expense tracker apps market size is expected to see rapid growth in the next few years. It will grow to $15.74 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%. The growth in the forecast period can be attributed to integration with the financial ecosystem, the emergence of open banking, expansion into emerging markets, focus on user education and engagement, and focus on financial wellness. Major trends in the forecast period include AI-powered insights, blockchain integration, subscription management, augmented reality (AR) features, voice-activated assistants, and collaborative budgeting.
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Scope Of Expense Tracker Apps Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Expense Tracker Apps Market Overview
Market Drivers –
Increasing smartphone user penetration is expected to propel the growth of the expense tracker app market going forward. Smartphone user penetration refers to the percentage of the population that uses smartphones among the total population. The number of smartphone users is rising due to several factors, such as affordability, internet connectivity, social and cultural trends, and expanding mobile ecosystems. Expense tracker apps allow users to record and categorize expenses, create budgets, and obtain insights into their spending habits through their smartphones or tablets. Mobile users can set up the expense tracker app to send reminders and notifications about future payments, budget limitations, and unusual spending trends. For instance, in February 2024, according to a report published by Uswitch Limited, a UK-based service and switching website, there were 71.8 million mobile connections in the UK in 2022, an increase of 3.8% from 2021, or around 2.6 million. By 2025, it’s predicted that the UK population will reach 68.3 million and that 95% (roughly 65 million people) will be smartphone users. Therefore, the increasing smartphone user penetration is driving the growth of the expense tracking app market.
Market Trends –
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The expense tracker apps market covered in this report is segmented –
1) By Platform: Mobile Apps, Web-Based Apps
2) By Subscription Model: Freemium, Premium
3) By Functionality: Basic Expense Tracker, Finance Analytics, Receipt Scanning And Management
4) By End User: Personal, Business
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Regional Insights –
North America was the largest region in the expense tracker apps market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the expense tracker apps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the expense tracker apps market are Zoho Corporation Pvt. Ltd., SAP SE, Sodexo Motivation Solutions UK Limited, Intuit Inc., Paycom Software Inc., LendingTree LLC, Xero Limited, Expensify Inc. , Fresh Books, You Need A Budget LLC, Spendesk, Tiller LLC, Realbyte Inc. , Dayspring Technologies Private Limited, Cleevio s.r.o, Everlance Inc., Hurdlr Inc., PocketGuard Inc., WalletIQ Inc., Abacus Labs Inc., Truebill Inc., Wave Financial Inc., Ramsey Solutions Inc., Emburse Holdings Inc., Shoeboxed Inc.
Table of Contents
1. Executive Summary
2. Expense Tracker Apps Market Report Structure
3. Expense Tracker Apps Market Trends And Strategies
4. Expense Tracker Apps Market – Macro Economic Scenario
5. Expense Tracker Apps Market Size And Growth
…..
27. Expense Tracker Apps Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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