About Personal Finance App
Personal finance is defined as the management of money and financial decisions for a person or family including budgeting, investments, retirement planning and investments. Personal finance applications make the user's financial life less stressful. It helps users to keep track of their budgeting, spending and earning. It is very beneficial to those who have less knowledge about financial education. It makes the concept of budgeting, earning and saving get easier for everyone. The factors such as User-friendly Interface and Better Accounting and Increased Penetration of the Internet Worldwide are the key drivers for the global Personal Finance App market. In addition, the Increased Need to Track and Manage Income also fueling the growth of the market. However, Increased Privacy and Security Issues and Threat of online Frauds may hamper the market growth.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Personal Finance App market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Intuit Inc. (United States), Personal Capital (United States), Lampo Licensing LLC (United States), Acorns Grow (United States), Robinhood Financial, LLC (United States), Microsoft Corporation (United States), doxo Inc. (United States), Buxfer (United States), Personal Capital Corporation (United States) and PocketSmith Ltd. (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Personal Finance App market by , Application (Mobile Phones, Tablets, Desktop and Laptops) and Region.
On the basis of geography, the market of Personal Finance App 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). If we see Market by End-users, the sub-segment i.e. Small Businesses Users will boost the Personal Finance App market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Operating System, the sub-segment i.e. Android will boost the Personal Finance App market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased Need to Track and Manage Income and Rise in Adoption of Cloud-based Solutions
Market Growth Drivers:
User-friendly Interface and Better Accounting, Increased Penetration of the Internet and Increased Number of Smartphone Users
Challenges:
Threat of Online Frauds
Restraints:
Increased Privacy and Security Issues
Opportunities:
Rise in the Digitalization, Adoption of Personal Finance Software Among the Developing Economies and Growing Demand from End-users
Market Leaders and their expansionary development strategies
In December 2020, Intuit, proud maker of TurboTax, QuickBooks and Mint, has announced that it has completed its acquisition of Credit Karma, Inc., the consumer technology platform with more than 110 million members in the United States, Canada and United Kingdom. The combined company creates a new consumer finance platform that will make it simple for consumers to make better decisions with their money and take control of their financial lives.
Key Target Audience
Personal Finance App Developers, Research Professionals, Emerging Companies, Government Bodies and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.