Personal Finance Software Market Report 2025

The personal finance software market size has grown strongly in recent years. It will grow from $1.81 billion in 2024 to $1.92 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to increasing financial awareness, changing consumer behavior, rise of online banking and transactions, shift towards cashless transactions, emergence of fintech solutions.

The personal finance software market size is expected to see strong growth in the next few years. It will grow to $2.66 billion in 2029 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to increased emphasis on financial literacy, growth in remote and digital work trends, integration with banking and financial services, rising importance of budgeting, expanding target demographics. Major trends in the forecast period include focus on financial wellness and education, use of behavioral economics for user engagement, customization and personalization features, collaborations with fintech startups, expansion of subscription-based models.

The increasing demand for secured and personalized digital services is poised to drive the growth of the personal finance software market. Digital services encompass the electronic transmission of data and content across various platforms and devices, including the web and mobile applications. Personal finance software, a subset of money management tools, plays a crucial role in organizing users' day-to-day financial activities. It not only educates users about personal finance matters but also enhances security by providing early warnings and alert notifications, enabling users to monitor and address potential issues promptly. These digital financial services are delivered through web-based or stand-alone software, ensuring both security and personalization. For example, in 2022, The Economist, a UK-based newspaper and media agency, reported that 58% of banks worldwide rely on technology, particularly artificial intelligence, to offer personalized digital services. This technological integration underscores the increasing reliance on advanced tools to provide secure and tailored financial solutions. As a result, the escalating demand for secured and personalized digital services is a significant driving force behind the growth of the personal finance software market.

The growing adoption of smartphones is anticipated to drive the growth of the personal finance software market in the coming years. Smartphones are sophisticated mobile devices that provide a variety of features and capabilities beyond basic voice communication. They allow users to access personal finance software from anywhere, enabling them to track expenses, create budgets, and manage investments conveniently and promptly. For example, in December 2023, DemandSage, a US-based data reporting and analytics provider, projected that by 2024, the number of smartphone users would reach 7.1 billion, with nearly half of Americans spending 5 to 6 hours daily on their devices. Furthermore, cell phone usage is expected to grow by 2-3% annually through 2025. Thus, the increasing use of smartphones is propelling the personal finance market.

Major companies in the personal finance software market are developing innovative technologies, such as personal financial tracking software, to enhance productivity and reduce the time required for personal finance management. Personal financial tracking software refers to digital solutions that assist individuals in managing and monitoring their finances by tracking income, expenses, budgeting, and investments. For example, in July 2024, CRED, an Indian FinTech company, introduced CRED Money, a personal financial management tool aimed at simplifying the tracking and management of finances for users. This platform offers a consolidated view of balances and transactions across various bank accounts, allowing users to analyze their spending patterns and manage recurring payments like SIPs, EMIs, and rent more efficiently. With features such as timely payment reminders and the ability to track overlooked transactions, CRED Money seeks to improve financial decision-making while ensuring data security through India’s account aggregator framework.

Prominent players in the personal finance software market are actively channeling their efforts towards the development of innovative solutions, with a particular focus on catering to Mac users through the creation of specialized personal financial management software. Tailored for compatibility with the macOS operating system, personal financial management software for Mac users encompasses dedicated applications or tools designed to seamlessly integrate with Mac systems. Illustrating this trend, Quicken Inc., a US-based provider of personal finance software, unveiled 'Quicken Classic Business & Personal' in December 2023, specifically tailored for Mac users. This new offering empowers users to efficiently manage both their business and personal finances within a unified platform, allowing the flexibility to view and address each aspect separately as needed. 'Quicken Classic Business & Personal' for Mac serves as a comprehensive solution catering to the unique financial management needs of self-employed individuals, independent contractors, gig workers, sole proprietorships, and similar entities. This strategic initiative aligns with the broader industry trend of major companies addressing the diverse requirements of Mac users through the introduction of specialized personal finance software solutions.

In July 2024, Bain Capital, LP, a private investment firm based in the US, acquired Envestnet, Inc. for $4.5 billion. This acquisition is a strategic initiative designed to bolster Envestnet's market position and improve its offerings within the wealth management technology sector. Envestnet, Inc. is a financial technology company located in the US that creates and distributes wealth management software and products for financial advisors and institutions.

Major companies operating in the personal finance software market include Moneyspire Inc., Mint, Personal Capital Corporation, Acorns Grow Inc., Simplifi Holdings Inc., You Need a Budget LLC, Quicken Inc., Wally Global Inc., PocketGuard, Inc., Money Dashboard, Albert Corporation, PocketSmith Ltd., The Infinite Kind, BankTree Software Ltd., CountAbout Corporation, SilverWiz, Buxfer Inc., HomeBudget, Tiller Money, GoodBudget, Dollarbird Technologies, Fudget, EveryDollar, Frollo.

North America was the largest region in the personal finance software market in 2024. The regions covered in the personal finance software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the personal finance software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Personal finance software is an application designed to assist users with various aspects of their financial management. It employs software to provide a comprehensive approach to handling personal finances, offering cost-effective solutions for managing expenses, budgeting, investments, and other financial tasks.

The primary products in personal finance software are web-based software and mobile-based software. Web-based software, also known as cloud-based software, is accessible through the internet using a web browser. It is deployed on the cloud and can be utilized by small business users and individual consumers, offering convenient access to financial tools and resources. Additionally, mobile-based software provides similar functionalities through applications designed for smartphones and other mobile devices, allowing users to manage their personal finances on the go.

The personal finance software market research report is one of a series of new reports that provides personal finance software market statistics including the personal finance software industry global market size regional shares competitors with personal finance software market share detailed personal finance software market segments market trends and opportunities and any further data you may need to thrive in the personal finance software industry. This personal finance software 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 software market consists of sales of software used for budgeting, investing, debt tracking, and setting savings goals. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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.

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