PUBLISHER: The Business Research Company | PRODUCT CODE: 1705609
PUBLISHER: The Business Research Company | PRODUCT CODE: 1705609
Personal finance apps are software applications designed to assist individuals in managing their personal finances. Available for installation on smartphones, tablets, or computers, these apps offer a range of features to help users track and manage their money.
The main types of personal finance apps are Android, iOS, and web-based. Android personal finance apps are tailored for smartphones and tablets running the Android operating system. Pricing models vary and include free, freemium, subscription, and one-time purchase options. These apps provide functionalities such as budgeting, investment tracking, tax planning, and debt management, and can be used on mobile phones, tablets, computers, and other devices.
The personal finance apps market research report is one of a series of new reports from The Business Research Company that provides personal finance apps market statistics, including personal finance apps industry global market size, regional shares, competitors with a personal finance apps market share, detailed personal finance apps market segments, market trends, and opportunities, and any further data you may need to thrive in the personal finance apps industry. This personal finance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The personal finance apps market size has grown exponentially in recent years. It will grow from $132.92 billion in 2024 to $167.09 billion in 2025 at a compound annual growth rate (CAGR) of 25.7%. The growth in the historic period can be attributed to increasing user engagement and promoting sound financial practices, the emergence of open banking and payment services directive (PSD2), growing awareness of personal finance management, rise in financial awareness, and rise in digital banking.
The personal finance apps market size is expected to see exponential growth in the next few years. It will grow to $412.22 billion in 2029 at a compound annual growth rate (CAGR) of 25.3%. The growth in the forecast period can be attributed to growing acceptance of digitalization, growing understanding of the value of sound money management, increasing penetration of smartphones and digital devices, growing demand for financial services and digital payments, and increasing demand for convenience and mobile banking. Major trends in the forecast period include smooth integration with various financial institutions, personalized features as users look for more complete and user-friendly solutions, the emergence of artificial intelligence (AI) technology, product innovations, and predictive analytics for risk management.
The growth of digital banking is expected to drive the expansion of the personal finance apps market in the future. Digital banking refers to the transformation of traditional banking services, which were once only accessible in person at a bank branch, into digital formats. Several factors contribute to the rise of digital banking, including increased convenience and accessibility, higher interest rates, seamless account management, and greater financial inclusion. Personal finance apps support digital banking by offering users a wide range of tools to manage their finances, improving their overall banking experience, and encouraging more active engagement with digital banking services. For example, in January 2024, E-commerce Tips, a US-based e-commerce insights company, reported that the number of people using multiple forms of digital payments in the United States rose from 51% in 2021 to 62% in 2022. Additionally, e-commerce, the largest segment of the global digital payments market, reached $6.310 trillion in 2023 and is projected to grow to $6.913 trillion in 2024. Despite the rise of digital wallets like PayPal, Venmo, and ApplePay, B2B payments in the US still rely on credit cards and checks for 39% and 26%, respectively. Thus, the rise of digital banking is fueling the growth of the personal finance apps market.
Leading companies in the personal finance apps market are developing advanced apps like Saarthi 2.0 to provide users with enhanced tools for managing their finances and improving financial literacy. Saarthi 2.0 offers users a range of features, including essential tools for managing finances such as Know Your Customer (KYC) procedures, mutual funds, exchange-traded funds (ETFs), and the ability to buy and sell shares. For example, in June 2024, the Securities and Exchange Board of India, a regulatory body based in India, launched Saarthi 2.0. The app provides valuable insights into the securities market, helping investors make informed decisions. With its user-friendly interface, Saarthi 2.0 is designed to be especially accessible for young, first-time investors. It also includes financial calculators, educational modules, informative videos, and investor support.
In June 2024, Chime Financial Inc., a US-based financial services company, acquired Salt Labs Inc. for an undisclosed amount. This acquisition allows Chime Financial Inc. to expand its market presence by incorporating innovative employee rewards solutions, which provide workers with better access to their earnings and support financial stability. Salt Labs Inc. is a US-based loyalty and payments company that focuses on assisting hourly workers.
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
North America was the largest region in the personal finance apps market in 2024. 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.
The countries covered in the personal finance apps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The personal finance apps market includes revenues earned by entities by providing bank accounting integration, credit score monitoring, and investment tracking. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Personal Finance Apps Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on personal finance apps market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for personal finance apps ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The personal finance apps market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.