Personal Finance Mobile App Market Overview
“The Personal Finance Mobile App Market is estimated to increase at a CAGR of 16.35% from $ 11.56 billion in 2023 to $ 19.34 billion by 2030.”
Personal finance mobile apps offer high-quality data for analytics and artificial intelligence integration, enabling service innovation and simplifying procedures. Personal finance software allows tracking of expenditure, budgeting, and future plans, with features like open source development, mobile app features, import techniques, monetization models, privacy policies, and data storage procedures.
AI is being used to enhance the technology of popular personal financial applications, despite not being the primary focus of app development. Firms are exploring the potential of AI to create better platforms for managing personal finances.
Personal finance apps help users track spending habits and provide personalized guidance for financial needs, particularly among the millennial generation. These apps are expected to significantly contribute to revenue creation. Integrating banking, cash transfer, and investing services are key components driving customer adoption. Over the past two years, personal financial apps have experienced exponential growth, with investment and trading applications being key subcategories.
The global internet user growth is expected to continue in the coming years, boosting the demand for personal finance mobile apps due to the increasing number of people using mobile devices for internet access.
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Personal Finance Mobile App Market Segment Analysis
Personal finance mobile applications aim to track expenditure, create budgets, manage peer payments, and invest individual funds, reducing the burden of maintaining financial stability. These applications effectively manage income, bills, expenditures, and investments, providing a convenient solution for individuals. The market advantage of mobile phone accessibility could lead to rapid adoption of these applications.
For consumers to have a continuous and seamless experience, it is more convenient and useful to have everything about personal finance at their fingertips. Personal finance mobile applications will change the game in the next years due to the increase in mobile and Internet users and the yearly addition of millions of new devices.
The increasing number of mobile and internet users and the yearly addition of millions of new devices are driving the need for personal finance mobile applications to provide consumers with a convenient and useful experience.
Market Dynamics
Drivers
The rise in smartphone and digital device usage for personal finance management has led to a surge in demand for personal finance apps, offering a convenient and secure way to access financial services. This has created an opportunity for financial institutions to expand their customer base and offer personalized services. The growing awareness of personal finance management among consumers has resulted in more people seeking convenient and secure ways to manage their finances.
Restraints
Governments worldwide are enforcing strict rules on the personal financial app market to protect customers from deceptive practices, preserve consumer information, and ensure the security of users' financial information. This has made it challenging for businesses to create and introduce their applications in different countries. One of the main challenges in the market is security and privacy issues, as users' private financial information must be protected and businesses must adhere to strict privacy and data protection laws.
The article lists the top 8 budget apps for 2023.
- Mint, for just about everything
- YNAB, for hands-on zero-based budgeting
- Goodbudget, for hands-on envelope budgeting
- EveryDollar, for simple zero-based budgeting
- Empower Personal Wealth, for tracking wealth and spending
- PocketGuard, for a simplified budgeting snapshot
- Honeydue, for budgeting with a partner
- Fudget, for budgeting without syncing accounts
Competitive Landscape of the Personal Finance Mobile App Market Analysis
Mint, Personal Capital, GoodBudget, Spendee, Venmo, Wally, You Need a Budget, Acorns, OfficeTime, Doxo, WalletHub, UK Salary Calculator, Toshl Finance, Money Smart, Savings Goals, PageOnce, Money Lover, Expensify, Easy Money, Bill Assistant, Account Tracker, Level Money, Expense Manager, One Touch Expenser, Loan Calculator Pro, Digit.
Regional Analysis of Global Personal Finance Mobile App Industry
“The region with the most lucrative opportunities for personal finance app providers is the South.”
North America currently holds a significant market share due to its high employment rate and per capita income. The United States, with a developed and stable economy, maintains over 78% of the market. Canada is expected to experience moderate growth in the coming years.
The Asia Pacific region, characterized by a vast untapped consumer base, is considered the most lucrative. Divided into East Asia and South Asia & Oceania, it is crucial to understand key driving factors, consumer preferences, and market trends to fully understand its potential.
South Asia and Oceania are predicted to experience the fastest growth rate due to changing customer bases and rising per capita income, while East Asia is expected to follow the same trend over the next seven years.
Segments Covered in the Personal Finance Mobile App Market Report
By O.S. (Operating Software) :
By Subscription:
By Service:
- Tracking Expenses & Budgeting
- Investments
- Universal
- Payment Apps
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
Frequently Asked Questions
What is the expected growth rate of the Personal Finance Mobile App market over the next 7 years?
Personal Finance Mobile App Market is estimated to increase at a CAGR of 16.35% from $ 11.56 billion in 2023 to $ 19.34 billion by 2030| Report 2023 by published by Market Report Service.
Who are the major players in the Personal Finance Mobile App market and what is their market share?
Mint, Personal Capital, GoodBudget, Spendee, Venmo, Wally, You Need a Budget, Acorns, OfficeTime, Doxo, WalletHub, UK Salary Calculator, Toshl Finance, Money Smart, Savings Goals, PageOnce, Money Lover, Expensify, Easy Money, Bill Assistant, Account Tracker, Level Money, Expense Manager, One Touch Expenser, Loan Calculator Pro, Digit, are prominent players operating and dominating in the market.
Who are the top 3 Personal Finance Mobile App Market Key Vendors?
Mint, Personal Capital, GoodBudget, are key players in the Personal Finance Mobile App market.
Which geographical areas dominate the worldwide market for Personal Finance Mobile App?
North America region are emerging as the top regional markets for Personal Finance Mobile App solutions.
1.SUMMARY
1.1. Personal Finance Mobile App Market Overview
1.2. Key Insights
1.3. Report Scope
1.4. Research Methodology
1.5. Frequently Asked Questions
1.6. Chapter Outlines
- DECISION-MAKING SUMMARY
- INTRODUCTION
3.1. Overview of Personal Finance Mobile App
3.2. Key Historical Events
3.3. Structure
3.4. Biochemical Interaction
3.5. Target Indications
3.6. Advantages of Personal Finance Mobile App
3.7 Challenges associated with Personal Finance Mobile App
3.8. Future Perspectives.
- MARKET LANDSCAPE
4.1. Methodology
4.2 Personal Finance Mobile App: Developer Landscape
4.2.1. Analysis by Year of Establishment
4.2.2. Analysis by Company Size
4.2.3. Analysis by Location of Headquarters (Region-wise)
4.2.4. Analysis by Location of Headquarters (Country-wise)
4.2.5. Analysis by Year of Establishment, Company Size and Location of Headquarters (Region-wise)
4.2.6. Most Active Players
- COMPANY
5.1. Company Overview
5.1.2 Management Team
5.1.3. Product Portfolio
5.1.4. Recent Developments and Future Outlook
- PARTNERSHIPS AND COLLABORATIONS
6.1. Partnership Models
6.2. Personal Finance Mobile App: Partnerships and Collaborations
6.2.1. Analysis by Year of Partnership
6.2.2. Analysis by Type of Partnership
6.2.3. Analysis by Year and Type of Partnership
6.2.4. Analysis by Type of Partner
6.2.5. Analysis by Year of Partnership and Type of Partner
6.2.6. Analysis by Type of Partnership and Type of Partner
6.2.7. Analysis by Type of Partner and Parent Company Size
- ACADEMIC GRANTS ANALYSIS
7.1. Methodology and Key Parameters
7.2. Personal Finance Mobile App: Academic Grants Analysis
7.2.1. Analysis by Year of Grant Award
7.2.2. Analysis by Amount Awarded
7.2.3. Analysis by Funding Institute Center
7.2.4. Analysis by Support Period
7.2.5. Analysis by Funding Institute Center and Support Period
7.2.6. Analysis by Type of Grant Application
7.2.7. Analysis by Purpose of Grant
- PUBLICATION ANALYSIS
8.1. Analysis Methodology and Key Parameters
8.2. Personal Finance Mobile App: Publication Analysis
8.2.1. Analysis by Year of Publication
8.2.2. Analysis by Type of Publication
8.2.3. Analysis by Type of Conjugate
8.2.4. Analysis by Target Indication
8.2.5. Analysis by Copyright Holder
8.2.6. Word Cloud: Emerging Focus Area
8.2.7. Most Active Publishers: Analysis by Number of Publications
- SUCCESS PROTOCOL ANALYSIS
9.1. Methodology and Key Parameters
9.2. Key Assumptions and Scoring Criteria
9.3. Success Protocol Analysis
9.4. Assessment of Approved Personal Finance Mobile App
- Appendix 1: Tabulated Data
- Appendix 2: List of Companies
- Mint
- Personal Capital
- GoodBudget
- Spendee
- Venmo
- Wally
- You Need a Budget
- Acorns
- OfficeTime
- Doxo
- WalletHub
- UK Salary Calculator
- Toshl Finance
- Money Smart
- Savings Goals
- PageOnce
- Money Lover
- Expensify
- Easy Money
- Bill Assistant
- Account Tracker
- Level Money
- Expense Manager
- One Touch Expenser
- Loan Calculator Pro
- Digit
