Personal Finance Software Market Scope
Personal Finance Software is a tool which is designed to manage bank accounts, credit cards, income, investments, expenditure, and all financial transactions of an individual in a smartphone or PC. This software integrates the financial data and segregate the data to analytical output. Rising need for advanced financial tool, technological advancement and increase in dependence on mobile application apps to track and manage income drives the market growth of the global Personal Finance Software Market.
According to AMA, the Global Personal Finance Software market is expected to see growth rate of 6.32%
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Personal Finance Software market throughout the predicted period.
Quicken Inc. (United States), The Infinite Kind (United Kingdom), You Need a Budget LLC (United States), Microsoft Corporation (United States), Moneyspire Inc. (United States), doxo Inc. (United States), BUXFER INC. (United States), Personal Capital Corporation (United States), Money Dashboard (United Kingdom) and PocketSmith Ltd. (New Zealand) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Banktivity, CountAbout, Mvelopes, Moneydance, BankTree, iFinance, MoneyWell, MoneyLine, HomeBank and Qapital.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Personal Finance Software market by Type (Web-based Software and Mobile-based Software), by Application (Personal, Small Enterprise and Other) and Region with country level break-up.
On the basis of geography, the market of Personal Finance Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
- Technology Advancement and Innovation In Personal Loan Software
Market Drivers
- Increased Requirement for Tracking and Managing Income
- Surge in Use of Mobile Application
- Increasing Use of Mobile Internet
Opportunities
- Increased adoption of Personal Finance Software among Developing Economies
- Emergence of New Technology in the Market
Restraints
- Slower Uptake in Developing Countries
- Availability of Open Source Solution
Challenges
- Data Security and Theft Concern
- Lack of Skilled Personnel to Handle the Systems
Key Target Audience
Products manufacturers, Raw material suppliers, Technology, equipment, and solution providers, Private utility players, Government and research organizations, Distribution consultancies and End users