Personal Finance Apps Market Outlook 2024-2033: Trends and Projections

The personal finance apps global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Market Size – The personal finance apps market size has grown exponentially in recent years. It will grow from $106.15 billion in 2023 to $133.08 billion in 2024 at a compound annual growth rate (CAGR) of 25.4%. The growth in the historic period can be attributed to increasing user engagement and promoting sound financial practices, the emergence of open banking and payment services directive (PSD2), growing awareness of personal finance management, rise in financial awareness, and rise in digital banking.
The personal finance apps market size is expected to see exponential growth in the next few years. It will grow to $330.12 billion in 2028 at a compound annual growth rate (CAGR) of 25.5%. The growth in the forecast period can be attributed to growing acceptance of digitalization, growing understanding of the value of sound money management, increasing penetration of smartphones and digital devices, growing demand for financial services and digital payments, and increasing demand for convenience and mobile banking. Major trends in the forecast period include smooth integration with various financial institutions, personalized features as users look for more complete and user-friendly solutions, the emergence of artificial intelligence (AI) technology, product innovations, and predictive analytics for risk management.

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Scope Of Personal Finance Apps MarketThe Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Personal Finance Apps Market Overview

Market Drivers -The rise in digital banking is expected to propel the growth of the personal finance apps market going forward. Digital banking refers to the digitization of traditional banking activities and programs that were previously available only to customers in physical bank branches. This trend can be attributed to several factors, including convenience and accessibility, higher interest rates, seamless account management, and financial inclusion. Personal finance apps complement digital banking by offering users comprehensive tools for managing their finances, enhancing their banking experience, and fostering greater engagement with digital banking services. For instance, in July 2024, according to Worldmetrics, a UK-based organization, online banking transactions reached $9.8 billion in 2024 and are expected to reach $161.6 billion by 2028. Therefore, the rise in digital banking is driving the growth of the personal finance apps market.

Market Trends – Major companies operating in the personal finance apps market are developing personal finance apps such as Saarthi 2.0 to provide users with advanced tools for managing their finances and enhancing financial literacy. Saarthi 2.0 provides users with advanced tools for managing their finances that cover essential requirements such as Know Your Customer (KYC) procedures, mutual funds, exchange-traded funds (ETFs), and the process of buying and selling shares. For instance, In June 2024, the Securities And Exchange Board Of India, an India-based regulatory body, launched Saarthi 2.0. This app offer crucial insights into the securities market, aiding investors in making well-informed decisions. It features a user-friendly interface, ensuring ease of use, particularly for young investors who are new to finance. The app includes financial calculators, educational modules, informative videos, and investor support.

The personal finance apps market covered in this report is segmented –

1) By Type: Android , iOS, Web-based
2) By Pricing Model: Free, Freemium, Subscription, One-Time Purchase
3) By Functionality: Budgeting, Investment Tracking, Tax Planning, Debt Management
4) By Application: Mobile Phones, Tablets, Computers, Other Applications

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Regional Insights – North America was the largest region in the personal finance apps market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the personal finance apps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies – Major companies in the market are Intuit Inc., Venmo LLC, Acorns LLC, Expensify, Albert, You Need a Budget LLC, Doxo Inc., WalletHub, Dayspring Technologies Inc. , Spendee A.S., Toshl Finance Inc., OfficeTime, EveryDollar , Money Smart, Wally , Prism, Personal Capital Ltd., PocketGuard, Wallet Engine, UK Salary Calculator, Tiller Money, Honeydue

Table of Contents 1. Executive Summary2. Personal Finance Apps Market Report Structure3. Personal Finance Apps Market Trends And Strategies4. Personal Finance Apps Market – Macro Economic Scenario5. Personal Finance Apps Market Size And Growth…..27. Personal Finance Apps Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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