Personal Finance Software Market -- 43% growth to originate in APAC
NEW YORK, Sept. 14, 2022 /PRNewswire/ -- The personal finance software market size is expected to grow by USD 242.41 million between 2021 and 2026, accelerating at a CAGR of 4.24%. The report expects the market to observe significant growth in APAC during the forecast period. The increasing number of home businesses is creating significant opportunities for vendors operating in the region. Download Sample PDF Report Here to get an idea of the overall scope of the full report.
The market is primarily driven by the growing dependency on the internet. The penetration of the internet has substantially increased across the world. Many businesses and individuals rely on the internet for day-to-day activities and critical operations. Banks and payment card companies are encouraging customers to make online transactions and payments. In addition, many businesses are making huge investments in cloud services to store critical information on the web. The growing dependency on the internet has subsequently increased the security risks and threat of hacking. This has increased the adoption of personal finance software by end-users to ensure secure money transfers and effective management of money flow. All these factors are driving the growth of the market in focus.
As per Technavio, the availability of mobile applications will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth.
Personal Finance Software Market: Availability of mobile applications
Improvements in communication services in rural areas have increased the penetration of mobile phones worldwide. In addition, the emergence of low-cost smartphones and the availability of low-cost data packages have increased the number of active internet users. To capitalize on this opportunity, vendors in the market are adopting mobile collaboration services to increase the profitability of their businesses. This trend is expected to have a positive impact on the growth of the global personal finance software market during the forecast period.
"The advent of SaaS-based application scheduling software and the availability of fully-automated solutions will further accelerate the growth of the market, says an analyst at Technavio.
Personal Finance Software Market: Segmentation Analysis
This market research report segments the personal finance software market by end-user (home business users and individual users), product (web-based software and mobile-based software), and geography (North America, APAC, Europe, South America, and the Middle East and Africa).
The North American region led the personal finance software market in 2021, followed by APAC, Europe, South America, and Middle East and Africa respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the high adoption of mobile-based personal finance software and the increasing market penetration of global vendors.
Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request Sample Report Here
Some of the key topics covered in the report include:
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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