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Personal Finance Software Market By Product Type (Web-based Software, Mobile-based Software), By End User (Small Businesses Users, Individual Consumers): Global Opportunity Analysis and Industry Forecast, 2023-2032

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    Report

  • 173 Pages
  • August 2023
  • Region: Global
  • Allied Market Research
  • ID: 5157250
UP TO OFF until Oct 24th 2024
The term personal finance software refers to a specialized computer program or application created to assist people in properly managing their personal money. Users can track income, expenses, assets, budgets, and financial objectives using a wide range of tools and services that are offered by the platform. To import and categorize transactions automatically and do away with the necessity for manual data entry, customers can link their bank accounts, credit cards, and other financial accounts. By presenting a summary of income and expenses, it also enables users to analyze their spending habits, pinpoint areas for saving, and make wise financial decisions. It assists users in monitoring their financial status, reminds them when payments are due, and helps them avoid late fees and other consequences by sending timely notifications.

Rise in need to track and manage income and increase in dependency on the internet is boosting the growth of the global personal finance software market. In addition, increase in use of digital transformation technology is positively impacts growth of the personal finance software market. However, lack of awareness about personal finance software and increasing security concerns is hampering the personal finance software market growth. On the contrary, increased adoption of personal finance software among developing economies is expected to offer remunerative opportunities for expansion of the personal finance software market during the forecast period.

The personal finance software market is segmented on the basis of by product type, end user, and region. On the basis of product type, the market is categorized into web-based software and mobile-based software. By end user, it is classified into small businesses users, and individual customers. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players that operate in the personal finance software market are Quicken Inc., The Infinite Kind, You Need a Budget LLC, Microsoft, Moneyspire Inc., doxo Inc., BUXFER INC., Personal Capital Corporation, Money Dashboard, PocketSmith Ltd., and others. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry

Key Benefits for Stakeholders

  • The study provides an in-depth analysis of the global personal finance software market forecast along with the current and future trends to explain the imminent investment pockets.
  • Information about key drivers, restraints, and opportunities and their impact analysis on global personal finance software market trend is provided in the report.
  • The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
  • The quantitative analysis of the market from 2023 to 2032 is provided to determine the market potential.

Additional benefits you will get with this purchase are:

  • Quarterly update (only available with the purchase of an enterprise license)
  • 5 additional company profiles of your choice, pre- or post-purchase, as a free update.
  • Free updated version (once released) with the purchase of a 1-5 or enterprise user license.
  • 16 analyst hours of support (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
  • 15% free customization (in case the scope or segment of the report does not match your requirements, 20% is equivalent to 3 working days of free work, applicable once)
  • Free data pack (Excel version) with the purchase of a 1-5 or enterprise user license.
  • Free report update, if the report is 6-12 months old or older.
  • 24-hour priority response
  • Free industry updates and white papers.

Key Market Segments

By Product Type

  • Web-based Software
  • Mobile-based Software

By End User

  • Small Businesses Users
  • Individual Consumers

By Region

  • North America
  • U.S.
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Latin America
  • Middle East
  • Africa

Key Market Players

  • BUXFER INC
  • Money Dashboard Limited
  • The Infinite Kind
  • Moneyspire Inc
  • Microsoft Corporation
  • You Need a Budget LLC
  • doxo Inc
  • Personal Capital Corporation
  • PocketSmith Ltd
  • Quicken Inc.

 

Please note:

  • Online Access price format is valid for 60 days access. Printing is not enabled.
  • PDF Single and Enterprise price formats enable printing.

 

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.3. Porter’s five forces analysis
3.3.1. Low bargaining power of suppliers
3.3.2. Low threat of new entrants
3.3.3. Low threat of substitutes
3.3.4. Low intensity of rivalry
3.3.5. Low bargaining power of buyers
3.4. Market dynamics
3.4.1. Drivers
3.4.1.1. Rise in need to track and manage income
3.4.1.2. Increase in dependency on the internet
3.4.1.3. Increase in use of digital transformation technology
3.4.2. Restraints
3.4.2.1. Increasing security concerns
3.4.2.2. High implementation cost
3.4.3. Opportunities
3.4.3.1. Increased adoption of personal finance software among developing economies
3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: PERSONAL FINANCE SOFTWARE MARKET, BY PRODUCT TYPE
4.1. Overview
4.1.1. Market size and forecast
4.2. Web-based Software
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market share analysis by country
4.3. Mobile-based Software
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market share analysis by country
CHAPTER 5: PERSONAL FINANCE SOFTWARE MARKET, BY END USER
5.1. Overview
5.1.1. Market size and forecast
5.2. Small Businesses Users
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market share analysis by country
5.3. Individual Consumers
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market share analysis by country
CHAPTER 6: PERSONAL FINANCE SOFTWARE MARKET, BY REGION
6.1. Overview
6.1.1. Market size and forecast By Region
6.2. North America
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by Product Type
6.2.3. Market size and forecast, by End User
6.2.4. Market size and forecast, by country
6.2.4.1. U.S.
6.2.4.1.1. Market size and forecast, by Product Type
6.2.4.1.2. Market size and forecast, by End User
6.2.4.2. Canada
6.2.4.2.1. Market size and forecast, by Product Type
6.2.4.2.2. Market size and forecast, by End User
6.3. Europe
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by Product Type
6.3.3. Market size and forecast, by End User
6.3.4. Market size and forecast, by country
6.3.4.1. UK
6.3.4.1.1. Market size and forecast, by Product Type
6.3.4.1.2. Market size and forecast, by End User
6.3.4.2. Germany
6.3.4.2.1. Market size and forecast, by Product Type
6.3.4.2.2. Market size and forecast, by End User
6.3.4.3. France
6.3.4.3.1. Market size and forecast, by Product Type
6.3.4.3.2. Market size and forecast, by End User
6.3.4.4. Italy
6.3.4.4.1. Market size and forecast, by Product Type
6.3.4.4.2. Market size and forecast, by End User
6.3.4.5. Spain
6.3.4.5.1. Market size and forecast, by Product Type
6.3.4.5.2. Market size and forecast, by End User
6.3.4.6. Rest of Europe
6.3.4.6.1. Market size and forecast, by Product Type
6.3.4.6.2. Market size and forecast, by End User
6.4. Asia-Pacific
6.4.1. Key market trends, growth factors and opportunities
6.4.2. Market size and forecast, by Product Type
6.4.3. Market size and forecast, by End User
6.4.4. Market size and forecast, by country
6.4.4.1. China
6.4.4.1.1. Market size and forecast, by Product Type
6.4.4.1.2. Market size and forecast, by End User
6.4.4.2. Japan
6.4.4.2.1. Market size and forecast, by Product Type
6.4.4.2.2. Market size and forecast, by End User
6.4.4.3. India
6.4.4.3.1. Market size and forecast, by Product Type
6.4.4.3.2. Market size and forecast, by End User
6.4.4.4. Australia
6.4.4.4.1. Market size and forecast, by Product Type
6.4.4.4.2. Market size and forecast, by End User
6.4.4.5. South Korea
6.4.4.5.1. Market size and forecast, by Product Type
6.4.4.5.2. Market size and forecast, by End User
6.4.4.6. Rest of Asia-Pacific
6.4.4.6.1. Market size and forecast, by Product Type
6.4.4.6.2. Market size and forecast, by End User
6.5. LAMEA
6.5.1. Key market trends, growth factors and opportunities
6.5.2. Market size and forecast, by Product Type
6.5.3. Market size and forecast, by End User
6.5.4. Market size and forecast, by country
6.5.4.1. Latin America
6.5.4.1.1. Market size and forecast, by Product Type
6.5.4.1.2. Market size and forecast, by End User
6.5.4.2. Middle East
6.5.4.2.1. Market size and forecast, by Product Type
6.5.4.2.2. Market size and forecast, by End User
6.5.4.3. Africa
6.5.4.3.1. Market size and forecast, by Product Type
6.5.4.3.2. Market size and forecast, by End User
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Players
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top player positioning, 2022
CHAPTER 8: COMPANY PROFILES
8.1. Quicken Inc.
8.1.1. Company overview
8.1.2. Key Executives
8.1.3. Company snapshot
8.1.4. Operating business segments
8.1.5. Product portfolio
8.1.6. Key strategic moves and developments
8.2. The Infinite Kind
8.2.1. Company overview
8.2.2. Key Executives
8.2.3. Company snapshot
8.2.4. Operating business segments
8.2.5. Product portfolio
8.2.6. Key strategic moves and developments
8.3. You Need a Budget LLC
8.3.1. Company overview
8.3.2. Key Executives
8.3.3. Company snapshot
8.3.4. Operating business segments
8.3.5. Product portfolio
8.4. Microsoft Corporation
8.4.1. Company overview
8.4.2. Key Executives
8.4.3. Company snapshot
8.4.4. Operating business segments
8.4.5. Product portfolio
8.4.6. Business performance
8.4.7. Key strategic moves and developments
8.5. Moneyspire Inc
8.5.1. Company overview
8.5.2. Key Executives
8.5.3. Company snapshot
8.5.4. Operating business segments
8.5.5. Product portfolio
8.6. doxo Inc
8.6.1. Company overview
8.6.2. Key Executives
8.6.3. Company snapshot
8.6.4. Operating business segments
8.6.5. Product portfolio
8.6.6. Key strategic moves and developments
8.7. BUXFER INC
8.7.1. Company overview
8.7.2. Key Executives
8.7.3. Company snapshot
8.7.4. Operating business segments
8.7.5. Product portfolio
8.8. Personal Capital Corporation
8.8.1. Company overview
8.8.2. Key Executives
8.8.3. Company snapshot
8.8.4. Operating business segments
8.8.5. Product portfolio
8.9. Money Dashboard Limited
8.9.1. Company overview
8.9.2. Key Executives
8.9.3. Company snapshot
8.9.4. Operating business segments
8.9.5. Product portfolio
8.9.6. Key strategic moves and developments
8.10. PocketSmith Ltd
8.10.1. Company overview
8.10.2. Key Executives
8.10.3. Company snapshot
8.10.4. Operating business segments
8.10.5. Product portfolio
List of Tables
Table 01. Global Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 02. Personal Finance Software Market for Web-based Software, by Region, 2022-2032 ($Million)
Table 03. Personal Finance Software Market for Mobile-based Software, by Region, 2022-2032 ($Million)
Table 04. Global Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 05. Personal Finance Software Market for Small Businesses Users, by Region, 2022-2032 ($Million)
Table 06. Personal Finance Software Market for Individual Consumers, by Region, 2022-2032 ($Million)
Table 07. Personal Finance Software Market, by Region, 2022-2032 ($Million)
Table 08. North America Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 09. North America Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 10. North America Personal Finance Software Market, by Country, 2022-2032 ($Million)
Table 11. U.S. Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 12. U.S. Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 13. Canada Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 14. Canada Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 15. Europe Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 16. Europe Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 17. Europe Personal Finance Software Market, by Country, 2022-2032 ($Million)
Table 18. UK Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 19. UK Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 20. Germany Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 21. Germany Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 22. France Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 23. France Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 24. Italy Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 25. Italy Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 26. Spain Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 27. Spain Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 28. Rest of Europe Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 29. Rest of Europe Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 30. Asia-Pacific Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 31. Asia-Pacific Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 32. Asia-Pacific Personal Finance Software Market, by Country, 2022-2032 ($Million)
Table 33. China Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 34. China Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 35. Japan Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 36. Japan Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 37. India Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 38. India Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 39. Australia Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 40. Australia Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 41. South Korea Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 42. South Korea Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 43. Rest of Asia-Pacific Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 44. Rest of Asia-Pacific Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 45. LAMEA Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 46. LAMEA Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 47. LAMEA Personal Finance Software Market, by Country, 2022-2032 ($Million)
Table 48. Latin America Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 49. Latin America Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 50. Middle East Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 51. Middle East Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 52. Africa Personal Finance Software Market, by Product Type, 2022-2032 ($Million)
Table 53. Africa Personal Finance Software Market, by End-user, 2022-2032 ($Million)
Table 54. Quicken Inc.: Key Executives
Table 55. Quicken Inc.: Company Snapshot
Table 56. Quicken Inc.: Service Segments
Table 57. Quicken Inc.: Product Portfolio
Table 58. Quicken Inc.: Key Stratergies
Table 59. The Infinite Kind: Key Executives
Table 60. The Infinite Kind: Company Snapshot
Table 61. The Infinite Kind: Service Segments
Table 62. The Infinite Kind: Product Portfolio
Table 63. The Infinite Kind: Key Stratergies
Table 64. You Need a Budget LLC: Key Executives
Table 65. You Need a Budget LLC: Company Snapshot
Table 66. You Need a Budget LLC: Service Segments
Table 67. You Need a Budget LLC: Product Portfolio
Table 68. Microsoft Corporation: Key Executives
Table 69. Microsoft Corporation: Company Snapshot
Table 70. Microsoft Corporation: Service Segments
Table 71. Microsoft Corporation: Product Portfolio
Table 72. Microsoft Corporation: Key Stratergies
Table 73. Moneyspire Inc.: Key Executives
Table 74. Moneyspire Inc.: Company Snapshot
Table 75. Moneyspire Inc.: Service Segments
Table 76. Moneyspire Inc.: Product Portfolio
Table 77. Doxo Inc.: Key Executives
Table 78. Doxo Inc.: Company Snapshot
Table 79. Doxo Inc.: Service Segments
Table 80. Doxo Inc.: Product Portfolio
Table 81. Doxo Inc.: Key Stratergies
Table 82. Buxfer Inc.: Key Executives
Table 83. Buxfer Inc.: Company Snapshot
Table 84. Buxfer Inc.: Service Segments
Table 85. Buxfer Inc.: Product Portfolio
Table 86. Personal Capital Corporation: Key Executives
Table 87. Personal Capital Corporation: Company Snapshot
Table 88. Personal Capital Corporation: Service Segments
Table 89. Personal Capital Corporation: Product Portfolio
Table 90. Money Dashboard Limited: Key Executives
Table 91. Money Dashboard Limited: Company Snapshot
Table 92. Money Dashboard Limited: Service Segments
Table 93. Money Dashboard Limited: Product Portfolio
Table 94. Money Dashboard Limited: Key Stratergies
Table 95. Pocketsmith Ltd.: Key Executives
Table 96. Pocketsmith Ltd.: Company Snapshot
Table 97. Pocketsmith Ltd.: Service Segments
Table 98. Pocketsmith Ltd.: Product Portfolio
List of Figures
Figure 01. Personal Finance Software Market, 2022-2032
Figure 02. Segmentation of Personal Finance Software Market, 2022-2032
Figure 03. Top Investment Pockets in Personal Finance Software Market (2023-2032)
Figure 04. Low Bargaining Power of Suppliers
Figure 05. Low Threat of New Entrants
Figure 06. Low Threat of Substitutes
Figure 07. Low Intensity of Rivalry
Figure 08. Low Bargaining Power of Buyers
Figure 09. Global Personal Finance Software Market:Drivers, Restraints and Opportunities
Figure 10. Personal Finance Software Market, by Product Type, 2022 (%)
Figure 11. Comparative Share Analysis of Personal Finance Software Market for Web-based Software, by Country 2022 and 2032 (%)
Figure 12. Comparative Share Analysis of Personal Finance Software Market for Mobile-based Software, by Country 2022 and 2032 (%)
Figure 13. Personal Finance Software Market, by End-user, 2022 (%)
Figure 14. Comparative Share Analysis of Personal Finance Software Market for Small Businesses Users, by Country 2022 and 2032 (%)
Figure 15. Comparative Share Analysis of Personal Finance Software Market for Individual Consumers, by Country 2022 and 2032 (%)
Figure 16. Personal Finance Software Market by Region, 2022 (%)
Figure 17. U.S. Personal Finance Software Market, 2022-2032 ($Million)
Figure 18. Canada Personal Finance Software Market, 2022-2032 ($Million)
Figure 19. UK Personal Finance Software Market, 2022-2032 ($Million)
Figure 20. Germany Personal Finance Software Market, 2022-2032 ($Million)
Figure 21. France Personal Finance Software Market, 2022-2032 ($Million)
Figure 22. Italy Personal Finance Software Market, 2022-2032 ($Million)
Figure 23. Spain Personal Finance Software Market, 2022-2032 ($Million)
Figure 24. Rest of Europe Personal Finance Software Market, 2022-2032 ($Million)
Figure 25. China Personal Finance Software Market, 2022-2032 ($Million)
Figure 26. Japan Personal Finance Software Market, 2022-2032 ($Million)
Figure 27. India Personal Finance Software Market, 2022-2032 ($Million)
Figure 28. Australia Personal Finance Software Market, 2022-2032 ($Million)
Figure 29. South Korea Personal Finance Software Market, 2022-2032 ($Million)
Figure 30. Rest of Asia-Pacific Personal Finance Software Market, 2022-2032 ($Million)
Figure 31. Latin America Personal Finance Software Market, 2022-2032 ($Million)
Figure 32. Middle East Personal Finance Software Market, 2022-2032 ($Million)
Figure 33. Africa Personal Finance Software Market, 2022-2032 ($Million)
Figure 34. Top Winning Strategies, by Year (2020-2023)
Figure 35. Top Winning Strategies, by Development (2020-2023)
Figure 36. Top Winning Strategies, by Company (2020-2023)
Figure 37. Product Mapping of Top 10 Players
Figure 38. Competitive Dashboard
Figure 39. Competitive Heatmap: Personal Finance Software Market
Figure 40. Top Player Positioning, 2022
Figure 41. Microsoft Corporation: Net Revenue, 2020-2022 ($Million)
Figure 42. Microsoft Corporation: Research & Development Expenditure, 2020-2022 ($Million)
Figure 43. Microsoft Corporation: Revenue Share by Segment, 2022 (%)
Figure 44. Microsoft Corporation: Revenue Share by Region, 2022 (%)

Executive Summary

According to this report, the personal finance software market was valued at $1.4 billion in 2022, and is estimated to reach $4.2 billion by 2032, growing at a CAGR of 12.2% from 2023 to 2032.

Personal finance software enables businesses and individuals to track income and expenses in budgeting. 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.

Key factors driving the growth of the personal finance software market Rise in need to track and manage income, Increase in dependency on the internet, and Increase in use of digital transformation technology. Digitization is the process of converting data or information into a digital format with the adoption of advanced technology. It plays an important role in the financial sector owing to the surge in need among personal finance providers for providing enhanced customer services and to improve the security of the customer. Furthermore, SaaS helps financial institutes to offer digital services to their customers and saves time on personal finance, which propels the growth of the market.

In addition, the rise in demand for digital transformation technology in the financial institutions and surge in dependency of various banks on SaaS solutions drive the growth of the market. In addition, market players across the globe have adopted various advanced technology such as blockchain technology, big data, and AI to increase the productivity with minimal resource utilized drives the growth of the market.

The market also offers growth opportunities to the key players in the market. Developing economies of Asia-Pacific and LAMEA possess high potential for expansion of financial technology (fintech) services, which is expected to drive market growth during the forecast period. Furthermore, the continuous rise in internet and mobile phones penetration in the developing countries provide numerous opportunities for the market. For instance, in 2022, according to survey conducted by Marqeta, the company surveyed 4,000 people across the U. S., UK, and Australia and found that, on average, 75% of respondents had used a mobile wallet in the last year.

Furthermore, AI and machine learning assist financial institutes at various stages of risk management process ranging from identifying risk exposure, measuring, estimating, to assessing its effects. Moreover, increase in investments in AI and machine learning offers the potential to transform the area of automation for time-consuming, mundane processes, and offers a far more streamlined and personalized customer experience, which enhances the growth of the market. In addition, major financial institutes such as Bank of America, JPMorgan, and Morgan Stanley, invest heavily in ML technologies to develop automated investment advisors and train systems to detect flags such as money laundering techniques and for other fraud cases, which in turn is expected to provide lucrative opportunity for the growth of the market.

The Personal finance software market is segmented on the basis of by product type, end user, and region. On the basis of product type, the market is categorized into web-based software and mobile-based software. By end user, it is classified into small businesses users, and individual customers. Region wise, it is analyzed across North America (the U. S., Canada), Europe (the UK, Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).

The key players profiled in the study Quicken Inc., The Infinite Kind, You Need a Budget LLC, Microsoft, Moneyspire Inc., doxo Inc., BUXFER INC., Personal Capital Corporation, Money Dashboard, PocketSmith Ltd. The players in the market have been actively engaged in the adoption various strategies such as acquisition, and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in July 2020, doxo inc launched doxoPLUS all-in-one bill pay subscription with 5 essential protections to improve consumer financial health..

Key Market Insights

By product type, the web-based software segment was the highest revenue contributor to the market, and is estimated to reach $2.07 billion by 2032, with a CAGR of 46.2%. However, the mobile-based software segment is estimated to be the fastest growing segment with the CAGR of 14.7% during the forecast period.

By end-user, the small businesses user segment dominated the global market, and is estimated to reach $3.13 billion by 2032, with a CAGR of 13.4%. However, the individual consumers segment is expected to be the fastest growing segment with the CAGR 9.3% during the Personal finance software Market Forecast.

Based on region, Asia-Pacific was the highest revenue contributor, accounting for $350.82 million in 2022, and is estimated to reach $1.49 billion by 2032, with a CAGR of 15.8%.

Companies Mentioned

  • BUXFER INC
  • Money Dashboard Limited
  • The Infinite Kind
  • Moneyspire Inc
  • Microsoft Corporation
  • You Need a Budget LLC
  • doxo Inc
  • Personal Capital Corporation
  • PocketSmith Ltd
  • Quicken Inc.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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