#Moneyspire inc. press release software#

To cope with this situation, many banks & financial institutions are providing their customers with new digital tools & techniques, among which personal finance software has witnessed significant growth. In COVID-19 pandemic, businesses are coping with operational challenges. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. The key players profiled in the global personal finance software market analysis are Buxfer Inc., Doxo Inc., Money Dashboard, Microsoft Corporation, Moneyspire Inc., Personal Capital Corporation, PocketSmith Ltd., The Infinite Kind, You Need a Budget LLC, and Quicken Inc. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Based on end-user, the market is categorized into small business and individual.

Based on product type, the market is bifurcated into web-based software and mobile-based software.

The global personal finance software market is segmented based on product type, end-user, and region. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global personal finance software market. The report focuses on the growth prospects, restraints, and trends of the global personal finance software market. However, Asia-Pacific is expected to witness significant growth rate during the forecast period, owing to booming IT infrastructure and hefty investments from private and public players in the region. The major factors that drive the growth of the market in this region include presence of major players and rapid adoption of latest technology in the market. Region wise, the personal finance software market growth was dominated by North America in 2019 and is expected to retain its position during the forecast period. However, the mobile based software segment is expected to grow at the highest rate during the forecast period, owing to rise in adoption of mobile phone across the globe and increase in penetration of smartphones in various industries drive the growth of the market. High security provided by web-based personal finance software as it is supported by anti-virus and anti-malware solutions drives the growth of the market.

Furthermore, increased adoption of personal finance software among developing economies is expected to provide lucrative opportunities for the market growth.īy product type, the global personal finance software market share was led by the web-based software segment in 2019 and is projected to maintain its dominance during the forecast period. However, security and compliance issues in personal finance software and availability of open source finance software hamper the growth of the market. In addition, increase in focus of organizations on digitalizing their financial services and upsurge in internet users across the globe fuel the growth of the market. Rise in need to track & manage income of consumers and surge in mobile application across the globe are the major factors that drive the growth of the market. This software tool utilizes variety of financial data as input and can be implemented for various tasks such as financial transactions, bank records management, investment tracking, budget management, portfolio management, and others.ĭuring COVID-19, individuals segment is expected to attain significant growth, owing to rise in demand of personal finance software to manage bank accounts, credit cards, investments, income, and expenditure of an individual on a smartphone or computer in lockdown conditions. Personal finance software is a tool designed to integrate the financial data of a user and segregate this information to deliver a desired analytical output for improved financial planning. The global personal finance software market size was valued at $1,024.35 million in 2019 and is projected to reach $1,576.86 million by 2027, growing at a CAGR of 5.7% from 2020 to 2027. Personal Finance Software Market Outlook - 2027

Moneyspire inc. press release