What Is The Overview Of The Global Personal Finance Apps Market?
Personal finance apps are software applications designed to help individuals manage their personal finances. These apps can be installed on smartphones, tablets, or computers and offer various features to assist users in tracking and managing their money.
Personal Finance Apps Global Market Report 2024 provides data on the global personal finance apps market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The personal finance apps market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Personal Finance Apps ?
The personal finance apps market has grown exponentially, from $106.15 billion in 2023 to $133.08 billion in 2024 at a CAGR of 25.4%. The growth is driven by the rise of digital banking, open banking services, and increasing awareness of personal finance management. The market is expected to reach $330.12 billion by 2028 at a CAGR of 25.5%, driven by growing smartphone penetration, AI integration, and the demand for user-friendly financial solutions.
What Are The Leading Drivers Of Growth In The Personal Finance Apps Market?
The growth of digital banking is expected to drive the personal finance apps market. The increasing preference for digital banking services, such as the ability to manage finances online, has created a demand for personal finance apps. These apps complement digital banking by providing tools for budgeting, saving, and investing. In 2024, online banking transactions were valued at $9.8 billion, and this is projected to rise significantly by 2028, driving the market for personal finance apps.
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How Are The Segments Defined Within The Global Personal Finance Apps Market?
The personal finance apps market covered in this report is 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
How Are New Trends Expected To Influence The Growth Of The Personal Finance Apps Market?
In the personal finance apps market, companies are offering advanced tools for managing finances and improving financial literacy. Saarthi 2.0, an app launched by the Securities and Exchange Board of India in June 2024, helps users manage finances and understand the securities market. The app offers educational resources, financial calculators, and investor support, making it particularly useful for young, new investors.
Which Region Drives The Highest Growth In 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.
