Wiseguyreports.Com Adds “Personal Finance & Budgeting Software – Global Market Growth, Opportunities, Analysis Of Top Key Players And Forecast To 2025”
Personal Finance & Budgeting Software controls and manages credit cards, investments, bank account, expenditure, and other different financial transactions of the users. The software effectively manages monetary operations and payrolls by assisting the users in managing their monthly expenses efficiently. The software uses different financial data and works as a dashboard and tracks all the transactions. Besides, it also alerts them when any issues arise. So, all such features of the software have made it quite popular among the users, and the demand is now increasing.
The new market study report suggests that in the year 2016 the global market size for this software was valued at USD 795 million. However, looking at the increasing trend, the experts have predicted that by the end of 2025, the market is expected to reach nearly around USD 1500 million. During the forecast period, i.e., from 2018 to 2025, the compound annual growth rate of the market is anticipated to be about 7 percent. The growth of this market is substantially driven by rising in the requirement for better personal financial tools.
It has been observed that people around the world are now getting more conscious about managing their income, expense, bank account, and more. So, they are now looking for advanced yet user-friendly software. Besides, the increase in the use of mobile applications is also triggering the growth of the market. Well, lack of awareness about financial products and services, and about open source solutions can be the major restraints to the global market. But increased adoption of finance software among major countries is anticipated to create profitable opportunities for the Personal Finance & Budgeting Software market.
Top Key Vendors:
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Global Market Segmentation Analysis:
The Global Personal Finance & Budgeting Software market is segmented considering three important factors. These are product type, application, and geography. Based on the product type, it is split into Cloud-based and On-premise. The report indicates that the cloud-based platform is expected to witness massive growth during the forecast period. Such software is quite secure and comes with personalized features. Now speaking about global market segmentation by the software application, it divided into Android, iOS, and Windows. Among them, the dominating segment is Android. The number of smartphone users is increasing across the globe, and the key players are also introducing advanced android apps for this.
Geographical Market Segmentation Analysis:
The entire market for Personal Finance & Budgeting Software, based on geography, is split into Asia Pacific, Europe, South America, North America, and Middle East & Africa. The report indicates that developing economies of Asia Pacific region holds a better potential for the expansion of fintech services, which, in turn, is expected to drive the market growth in this region. So, Asia Pacific will dominate the global market for this software from 2018 to 2025. Besides, development in smartphone and internet penetration in developing countries, such as Japan, China, India, Korea, and others will offer a lot of opportunities for market expansion in the future.
Latest Market Updates:
Recently, Dollarbird launched its new Dollarbird 3.3 version, which comes with some new features and significant improvements. The users now can upload photos of their invoices or receipts. Besides, the app can now automatically detect the receipts. The new update brings a cash flow chart feature to the app, using which the users can track and predict their balance.
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Source: EIN Presswire