The global Personal Accounting Software market size was significantly robust in 2021 and is expected to register a rapid revenue CAGR over the forecast period. Increasing digitization in the personal finance sector, rising trend of investment and future financial planning, and growing availability of free Personal Accounting Software that are robust and can help users track spending, and create and manage budgets, are some key factors expected to drive market revenue growth over the forecast period.
In addition, growing focus on enhancing security of Personal Accounting Software, availability of finance apps to manage both personal and business expenses, and introduction of Personal Accounting Software that also provides tutorials on personal finance management are some other factors expected to contribute to revenue growth of the market to a significant extent. Increasing focus on financial security, particularly due to rapidly emerging economic challenges, is boosting adoption of Personal Accounting Software and leading to the emergence of numerous fintech startups that aim to capitalize on this trend. This is expected to boost revenue growth of the global Personal Accounting Software market over the forecast period.
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Increasing trend of Buy Now, Pay Later (BNPL), increasing adoption of investment and financial management strategies by younger generation, and rising focus on tracking and managing income are some key factors expected to drive market revenue growth over the forecast period. Introduction of advanced personal finance apps, rapid adoption of advanced technologies, and increasing awareness about efficient management of personal finances are contributing to increasing adoption of Personal Accounting Software, which is expected to drive revenue growth of the global market.
COVID-19 pandemic is a key revenue driving factor for the global market, as the pandemic is increasing focus on personal finance and raising awareness among individuals regarding the importance of financial planning and saving. This, in turn, is increasing focus on digital offerings amid social distancing restrictions and lockdowns. Availability of robust Personal Accounting Software that can cater to both individual and small business needs is another key factor expected to drive revenue growth of the market over the forecast period.
Competitive Landscape:
- Quicken Inc.
- Moneyspire Inc.
- doxo Inc.
- BUXFER INC.
- Personal Capital Corporation
- The Infinite Kind
- You Need a Budget LLC
- Microsoft
- Money Dashboard
- PocketSmith Ltd.
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The global market is further segmented into type and application:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
- Web-based Software
- Mobile-based Software
End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Small Businesses
- Individual Users
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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