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U.S. Personal Finance Software Market by Product (Web-based Software and Mobile-based Software) and End User (Small Businesses Users and Individual Consumers): Opportunity Analysis and Industry Forecast, 2019–2026

BF_195375
Pages: 71
Jun 2019 | 1057 Views
 
Author(s) : Sagar Mukhekar, Kavita Joshi & Onkar Sumant
Tables: 24
Charts: 21
 

U.S. Personal Finance Software Market Outlook - 2026

The U.S. personal finance software market size was valued at $232 million in 2018, and is expected to reach $343 million by 2026, registering a CAGR of 5% from 2019 to 2026.

Personal finance software is a solution that helps to manage personal finances such as bank accounts, financial transactions, credit cards, investments, income, and expenditure of an individual through a smartphone or personal computer. It acts as a dashboard for users’ financial transactions and helps in tracking transactions and alerting the user when a problem arises. In addition, it directs monetary transactions and payrolls by helping an individual manage monthly expenses efficiently. The adoption of this software has increased among small or home business users, which helps them to easily manage their funding and business operations. Moreover, it enables effective planning and management of the inflow and outflow of monetary funds.

U.S. Personal Finance Software Market

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The growth of the U.S. personal finance software market is driven by factors such as increase in dependency on the internet, surge in use of mobile applications, rise in adoption of personal finance software, and availability of open-source solutions. However, each factor has a definite impact on the market. Personal finance software helps in accomplishing the short-term and long-term financial goals set by individual users, reduction of unnecessary expenses, possible adjustments on financial plans, and can perform reassessment.

In addition, numerous benefits provided by personal finance software include quick & easy account reconciliation, budget planning, availability of online bill payment, and tracking & analyzing investments, which in turn boost the adoption of this software in the U.S. market. For example, Quicken Inc. accounts for the highest share in the U.S. personal finance software market, based on its wide product portfolio and innovative product launches, followed by Personal Capital Corporation.

Furthermore, rise in need to track and manage the income flow of individual/small business has boosted the demand for personal finance software.  Moreover, this software can be linked with internet banking to provide transaction updates, thus aiding users in effective money management.

With increase in internet penetration, day-to-day financial activities such as budgeting, maintaining accounts, track on income & expenditure, retirement planning, and others are on a rise, which has boosted the utilization of personal finance software. However, several small-scale businesses and individual users are adopting open-source solutions to manage their business operations and day-to-day expenditure, owing to their minimal investment. This serves as an extremely economical solution for organizations with limited resources and expertise, which in turn hinders the adoption of the paid personal finance software. On the contrary, increase in use of personal finance software in tax planning, retirement planning, estate planning, education planning, management of cash, and to meet other financial goals is expected to offer lucrative growth opportunities for the market. 

U.S. Personal Finance Software Market by Product Type

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Product segment review

Based on product, the U.S. personal finance software market is divided into web-based software and mobile-based software. Web-based personal finance software provides high security, as it is supported by anti-virus and anti-malware solutions that drive the growth of the market. Several web-based options are available in the market such as MyMoneyCoach, Sage Intacct, Inc., and Moneyspire Inc. Moreover, INTUIT INC. launched Mint, a free web-based service, which allows users to connect all their financial information, from bank accounts, credit cards, loans, and debts. Moreover, web-based service allows to track transactions in real time.

Increase in use of mobile-based personal finance software such as Venmo, LearnVest, PayPal, and others across different areas of operations is expected to drive the U.S. personal finance software market growth during the forecast period. 

U.S. Personal Finance Software Market by End-User

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End-user segment review

Depending on end user, the U.S. personal finance software market is bifurcated into small business users and individual consumers. Personal finance software is primarily used by many small and home business users to integrate financial data of business and segregate the information to deliver a desired analytical output for improved financial planning. It helps business users to make smarter money decisions by highlighting spending trends, helps to manage debt repayment, and track financial goals. The individual consumers' segment adopts personal finance software to manage bank accounts, credit cards, investments, income, and individual expenditure through a smartphone or a personal computer. Moreover, the demand for this software has increased in the individual consumer's segment, due to its benefits over web-based software such as instant online & offline access, push notifications & instant updates, productivity improvement, and cost reduction. Personal finance software can manage monetary transactions by helping an individual to manage monthly expenses efficiently. Moreover, this software functions as a dashboard for users to track financial transactions and alert them when a problem arises.

The report provides a comprehensive analysis of the leading companies operating in the U.S. personal finance software industry such as Quicken Inc., Buxfer, Inc., CountAbout Corporation, doxo Inc., IGG Software, Inc., Microsoft Corporation, Moneyspire Inc., Personal Capital Corporation, Qapital, Inc., and You Need a Budget LLC.

Key Benefits For U.S. Personal Finance Software Market:

  • The study provides an in-depth analysis of the U.S. personal finance software market trends and future estimations to elucidate the imminent investment pockets.
  • Porter’s Five Forces analysis illustrates the potency of buyers and suppliers operating in the U.S. Personal Finance Software Industry.
  • A comprehensive U.S. personal finance software market analysis along with factors that drive and restrict the growth is provided.
  • A comprehensive quantitative analysis for U.S. personal finance software market is provided from 2018 to 2025 to assist stakeholders to capitalize on the prevailing market opportunities.
  • An extensive analysis of the key segments of the industry helps understand the trends in U.S. personal finance software market.
  • Comprehensive analysis of U.S. Personal Finance Software market share, along with key player service offerings and their strategies are provided to understand the competitive outlook of the industry.
  • The U.S. Personal Finance Software Market forecast are provided till 2026 considering the market dynamics and investments from major player in the market.

U.S. Personal Finance Software Market Segments:

By Product

  • Web-based Software
  • Mobile-based Software

By End User 

  • Small Businesses Users
  • Individual Consumers

Key Market Players 

  • Quicken Inc.
  • Buxfer, Inc. 
  • CountAbout Corporation
  • doxo Inc. 
  • IGG Software, Inc. 
  • Microsoft Corporation
  • Moneyspire Inc. 
  • Personal Capital Corporation
  • Qapital, Inc. 
  • You Need a Budget LLC
 

CHAPTER 1:    INTRODUCTION

1.1.    Report description
1.2.    Key benefits for stakeholders
1.3.    Research methodology

1.3.1.    Secondary research
1.3.2.    Primary research
1.3.3.    Analyst tools & models

CHAPTER 2:    EXECUTIVE SUMMARY

2.1.    CXO perspective

CHAPTER 3:    MARKET OVERVIEW

3.1.    Market definition and scope
3.2.    Key findings

3.2.1.    Top impacting factors
3.2.2.    Top winning strategies

3.2.2.1.    Top winning strategies, by 2016-2019
3.2.2.2.    Top winning strategies, by development 2016-2019
3.2.2.3.    Top winning strategies, by company 2016-2019

3.3.    Porter's five forces analysis
3.4.    Key player positioning, 2018
3.5.    Market share analysis
3.6.    Market dynamics

3.6.1.    Drivers

3.6.1.1.    Rise in need to track and manage income
3.6.1.2.    Increase in dependency on internet
3.6.1.3.    Increase in the use of mobile applications

3.6.2.    Restraints

3.6.2.1.    Availability of open-source solutions

3.6.3.    Opportunities

3.6.3.1.    Rise in awareness among people towards usage of personal finance monitoring

CHAPTER 4:    PERSONAL FINANCE SOFTWARE MARKET, BY PRODUCT TYPE

4.1.    Overview

4.1.1.    Market size and forecast, by product type

4.2.    Web-based software

4.2.1.    Key growth factors and opportunities
4.2.2.    Market size and forecast,

4.3.    Mobile-based software

4.3.1.    Key growth factors and opportunities
4.3.2.    Market size and forecast, by region

CHAPTER 5:    PERSONAL FINANCE SOFTWARE MARKET, BY END USER

5.1.    Overview
5.2.    Small businesses users

5.2.1.    Key growth factors and opportunities
5.2.2.    Market size and forecast

5.3.    Individual consumers

5.3.1.    Key growth factors and opportunities
5.3.2.    Market size and forecast

CHAPTER 6:    COMPANY PROFILES

6.1.    QUICKEN INC.

6.1.1.    Company overview
6.1.2.    Company snapshot
6.1.3.    Product portfolio
6.1.4.    Key strategic moves and developments

6.2.    BUXFER, INC.

6.2.1.    Company overview
6.2.2.    Company snapshot
6.2.3.    Product portfolio

6.3.    COUNTABOUT CORPORATION

6.3.1.    Company overview
6.3.2.    Company snapshot
6.3.3.    Product portfolio

6.4.    Doxo inc.

6.4.1.    Company overview
6.4.2.    Company snapshot
6.4.3.    Product portfolio

6.5.    IGG SOFTWARE, INC.

6.5.1.    Company overview
6.5.2.    Company snapshot
6.5.3.    Product portfolio
6.5.4.    Key strategic moves and developments

6.6.    MICROSOFT CORPORATION

6.6.1.    Company overview
6.6.2.    Company snapshot
6.6.3.    Operating business segments
6.6.4.    Product portfolio
6.6.5.    Business performance

6.7.    MONEYSPIRE INC.

6.7.1.    Company overview
6.7.2.    Company snapshot
6.7.3.    Product portfolio
6.7.4.    Key strategic moves and developments

6.8.    PERSONAL CAPITAL CORPORATION

6.8.1.    Company overview
6.8.2.    Company snapshot
6.8.3.    Operating business segments
6.8.4.    Product portfolio

6.9.    QAPITAL, INC.

6.9.1.    Company overview
6.9.2.    Company snapshot
6.9.3.    Product portfolio
6.9.4.    Key strategic moves and developments

6.10.    YOU NEED A BUDGET LLC

6.10.1.    Company overview
6.10.2.    Company snapshot
6.10.3.    Product portfolio

 LIST OF TABLES

TABLE 01.    U.S. PERSONAL FINANCE SOFTWARE MARKET REVENUE, BY PRODUCT TYPE, 2018–2026 ($MILLION)
TABLE 02.    U.S. PERSONAL FINANCE SOFTWARE MARKET REVENUE, BY END USERS, 2018–2026 ($MILLION)
TABLE 03.    QUICKEN: COMPANY SNAPSHOT
TABLE 04.    QUICKEN: PRODUCT PORTFOLIO
TABLE 05.    BUXFER: COMPANY SNAPSHOT
TABLE 06.    BUXFER: PRODUCT PORTFOLIO
TABLE 07.    COUNTABOUT: COMPANY SNAPSHOT
TABLE 08.    COUNTABOUT: PRODUCT PORTFOLIO
TABLE 09.    DOXO: COMPANY SNAPSHOT
TABLE 10.    DOXO: PRODUCT PORTFOLIO
TABLE 11.    IGG SOFTWARE, INC.: COMPANY SNAPSHOT
TABLE 12.    IGG SOFTWARE, INC.: PRODUCT PORTFOLIO
TABLE 13.    MICROSOFT: COMPANY SNAPSHOT
TABLE 14.    MICROSOFT: OPERATING SEGMENTS
TABLE 15.    MICROSOFT: PRODUCT PORTFOLIO
TABLE 16.    MONEYSPIRE: COMPANY SNAPSHOT
TABLE 17.    MONEYSPIRE: PRODUCT PORTFOLIO
TABLE 18.    PERSONAL CAPITAL: COMPANY SNAPSHOT
TABLE 19.    PERSONAL CAPITAL: OPERATING SEGMENTS
TABLE 20.    PERSONAL CAPITAL: PRODUCT PORTFOLIO
TABLE 21.    QAPITAL, INC.: COMPANY SNAPSHOT
TABLE 22.    QAPITAL, INC.: PRODUCT PORTFOLIO
TABLE 23.    YNAB: COMPANY SNAPSHOT
TABLE 24.    YNAB: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.    U.S. PERSONAL FINANCE SOFTWARE MARKET: KEY PLAYERS
FIGURE 02.    SEGMENTATION OF U.S. PERSONAL FINANCE SOFTWARE MARKET
FIGURE 03.    TOP IMPACTING FACTOR: PERSONAL FINANCE SOFTWARE MARKET
FIGURE 04.    TOP WINNING STRATEGIES, BY 2016-2019*
FIGURE 05.    TOP WINNING STRATEGIES, BY DEVELOPMENT 2016-2019 (%)
FIGURE 06.    TOP WINNING STRATEGIES, BY COMPANY 2016-2019 (%)
FIGURE 07.    LOW-TO-MODERATE BARGAINING POWER OF SUPPLIER
FIGURE 08.    LOW BARGAINING POWER OF BUYER
FIGURE 09.    MODERATE THREAT OF SUBSTITUTES
FIGURE 10.    LOW-TO-MODERATE THREAT OF NEW ENTRANTS
FIGURE 11.    HIGH COMPETITIVE RIVALRY
FIGURE 12.    KEY PLAYER POSITIONING: PERSONAL FINANCE SOFTWARE MARKET, 2018
FIGURE 13.    MARKET SHRE ANALYSIS, 2018
FIGURE 14.    DRIVERS, RESTRAINTS, AND OPPORTUNITIES: PERSONAL FINANCE SOFTWARE MARKET
FIGURE 15.    PERSONAL FINANCE SOFTWARE MARKET REVENUE FOR WEB-BASED SOFTWARE, 2018–2026 ($MILLION)
FIGURE 16.    PERSONAL FINANCE SOFTWARE MARKET REVENUE FOR MOBILE-BASED SOFTWARE, 2018-2026 ($MILLION)
FIGURE 17.    PERSONAL FINANCE SOFTWARE MARKET REVENUE FOR SMALL BUSINESSES USERS, 2019–2026 ($MILLION)
FIGURE 18.    PERSONAL FINANCE SOFTWARE MARKET REVENUE FOR INDIVIDUAL CONSUMERS, 2018–2026 ($MILLION)
FIGURE 19.    MICROSOFT: TOTAL REVENUE, 2016–2018 ($MILLION)
FIGURE 20.    MICROSOFT: REVENUE SHARE BY SEGMENT, 2018 (%)
FIGURE 21.    MICROSOFT: REVENUE SHARE BY REVENUE, 2018 (%)

 
 

The U.S. personal finance software market is expected to grow at a significant rate, due to rise in need for advanced financial tools, technological advancements related to new product development, and availability of low-cost products.

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. This software tool utilizes a variety of financial data as input and can be implemented for varied tasks such as financial transactions, bank records management, investment tracking, budget management, portfolio management, and others.

Furthermore, the latest trends which are gaining momentum in the personal finance software market are availability of mobile applications; change in consumer behavior in terms of spending, saving, and managing their money; and cloud storage offering from major players in the market. Moreover, increase in reach of mobile network encourages organizations to adopt mobile collaboration services that help to boost the profitability of their business. In addition, the availability of advanced features such as comparison between income and expenditure, to get a better idea of budgeting personal finance, are expected to provide lucrative opportunities for mobile-based personal finance software market.

 

 

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