Personal Finance Apps Global Market 2024 To Reach $330.12 Billion By 2028 At Rate Of 25.5%

The Business Research Company's Personal Finance Apps Global Market 2024 To Reach $330.12 Billion By 2028 At Rate Of 25.5%

LONDON, GREATER LONDON, UNITED KINGDOM, October 12, 2024 /EINPresswire.com/ -- The personal finance apps market has seen exponential growth in recent times. It is set to grow from $106.15 billion in 2023 to $133.08 billion in 2024, achieving a CAGR of 25.4%. The historical growth can be attributed to higher user engagement promoting sound financial practices, the emergence of open banking, increased awareness of personal finance management, and the rise of digital banking.

What Is The Estimated Market Size Of The Global Personal Finance Apps Market And Its Annual Growth Rate?

The personal finance apps market is set to grow exponentially, reaching $330.12 billion by 2028, with a CAGR of 25.5%. Growth will be driven by increasing digitalization, smartphone penetration, demand for financial services, and mobile banking. Key trends include AI-driven innovation, predictive analytics, seamless integration with financial institutions, and personalized features.

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Growth Driver of The Personal Finance Apps Market

The surge in digital banking is expected to foster the growth of the personal finance apps market in the coming years. Digital banking refers to the transformation of traditional banking services and operations that were previously accessible only in physical bank branches. The rise of digital banking can be linked to factors such as enhanced convenience and accessibility, rising interest rates, seamless account management, and increased financial inclusion. Personal finance applications complement digital banking by offering users a comprehensive suite of tools to manage their finances, thereby improving their banking experiences and increasing engagement with digital services.

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Which Market Players Are Driving The Personal Finance Apps Market Growth?

Major companies operating in the personal finance apps 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

What Are The Emerging Trends Shaping The Personal Finance Apps Market Size?

Leading companies in the personal finance apps market are developing advanced tools, such as Saarthi 2.0, to help users better manage their finances and increase financial literacy. For instance, the Securities and Exchange Board of India launched Saarthi 2.0 in June 2024, a user-friendly app equipped with essential features like KYC procedures, investment tools for mutual funds and ETFs, and educational modules. Tailored for young investors, the app offers financial calculators, informative videos, and a simplified interface to guide users in making informed investment decisions.

How Is The Global Personal Finance Apps Market 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

Geographical Insights: North America Leading The Personal Finance Apps Market

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.

Personal Finance Apps Market Definition

Personal finance apps are software applications that help individuals manage their finances through features that assist users in tracking and managing their money. Available on smartphones, tablets, and computers, these apps are increasingly popular for their convenience and functionality.

Personal Finance Apps Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global personal finance apps market report covering trends, opportunities, strategies, and more

The Personal Finance Apps Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on personal finance apps market size, drivers and trends, personal finance apps market major players, competitors' revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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Oliver Guirdham
The Business Research Company
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