Market Overview:
The global personal financial management tool market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for professional personal financial management tools and the growing awareness about the benefits of using such tools among consumers. In addition, the increasing adoption of cloud-based solutions is also contributing to the growth of this market. On the basis of type, general personal financial management tools are expected to account for a larger share than professional personal finance management tools during the forecast period. This can be attributed to their low cost and easy-to-use interface which makes them popular among consumers. However, with rising awareness about the benefits offered by professional PFM tools, their adoption is expected to increase significantly in coming years. On basis on application, account information management is estimated ot hold a larger share than other applications during thhe forecast period owing ti its importance in managing an individual's finances effectively .
Product Definition:
A personal financial management tool is a software program or online service that helps individuals track their spending and income, as well as save for future goals. These tools can be helpful for budgeting and goal setting, and some even offer features that allow users to create debt repayment plans or investment portfolios. The importance of personal financial management tools lies in their ability to help people take control of their finances by providing a clear view of where money is being spent and how much money is coming in.
General Personal Financial Management Tool:
General personal financial management tool is a software application that helps in managing all the financial affairs of an individual. It provides a centralized platform to carry out all the transactions and also helps in planning future course of action with respect to budgeting, investing, and spending.
Professional Personal Financial Management Tool:
Professional personal financial management tool is a software application that helps in managing all the financial affairs of an individual. It provides complete control over the money and offers reports as and when required. The main aim of this software application is to help professionals manage their client’s money with ease, efficiency, and confidence.
Application Insights:
The investment analysing application segment dominated the global personal financial management tool market in 2017. This can be attributed to the increasing number of investors globally. Moreover, rising awareness about investment options among individuals is also driving the growth of this segment. For instance, as per a survey conducted by Bank of America Merrill Lynch in 2018, around 70%of millennials have invested in some form of an equity fund and more than 50%of them invest through 401K plans or Individual Retirement Accounts (IRAs). However, only 40%of Gen Xers and 30%of baby boomers have done so.
The others segment includes money advice applications such as payday loans/ deferred payment plans which are gaining popularity due to their easy availability across geographies coupled with low-cost rates charged from service providers for providing these facilities.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to the presence of a large number of financial institutions and rising awareness among people for using these tools. Moreover, increasing use of smartphones, high internet penetration rates, and rapid technological advancements are also contributing towards regional growth.
Asia Pacific is expected to witness significant growth over the forecast period owing to growing awareness about these products in emerging economies such as India and China along with other South East Asian countries. Furthermore, increasing adoption by small & medium enterprises (SMEs) for accounting purposes will drive demand further in future years. Increasing investments by banks & financial institutions for developing innovative products will also contribute towards regional demand during the forecast period from 2018 To 2030 (aside from other factors). For instance; Citigroup Inc., UBS Group AG., Deutsche Bank AG., JPMorgan Chase & Co.
Growth Factors:
- Increasing awareness about the benefits of personal financial management tools: There is a growing awareness among people about the benefits of using personal financial management tools. This is helping to drive the growth of the market.
- Rising demand for cloud-based solutions: The demand for cloud-based solutions is rising, as they are easy to use and offer several advantages such as scalability and cost-effectiveness. This is helping to fuel the growth of the market.
- Growing number of mobile users: The number of mobile users is growing rapidly, which is resulting in an increase in demand for mobile financial management tools. This is propelling the growth of the market.
Scope Of The Report
Report Attributes
Report Details
Report Title
Personal Financial Management Tool Market Research Report
By Type
General Personal Financial Management Tool, Professional Personal Financial Management Tool
By Application
Account Information Management, Credit Card Management, Investment Analysing, Others
By Companies
BridgeTrack, FinanceWorks, Intuit, Geezeo, Mint, MoneyDesktop, SapientNitro, Strands Finance, Wells Fargo, Yodlee
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
227
Number of Tables & Figures
159
Customization Available
Yes, the report can be customized as per your need.
Global Personal Financial Management Tool Market Report Segments:
The global Personal Financial Management Tool market is segmented on the basis of:
Types
General Personal Financial Management Tool, Professional Personal Financial Management Tool
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Account Information Management, Credit Card Management, Investment Analysing, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BridgeTrack
- FinanceWorks
- Intuit
- Geezeo
- Mint
- MoneyDesktop
- SapientNitro
- Strands Finance
- Wells Fargo
- Yodlee
Highlights of The Personal Financial Management Tool Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- General Personal Financial Management Tool
- Professional Personal Financial Management Tool
- By Application:
- Account Information Management
- Credit Card Management
- Investment Analysing
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Personal Financial Management Tool Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A personal financial management tool is a software application or website that helps individuals track their finances and make informed financial decisions. This type of tool can help people save money, plan for future expenses, and monitor their credit score.
Some of the major players in the personal financial management tool market are BridgeTrack, FinanceWorks, Intuit, Geezeo, Mint, MoneyDesktop, SapientNitro, Strands Finance, Wells Fargo, Yodlee.
The personal financial management tool market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Personal Financial Management Tool Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Personal Financial Management Tool Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Personal Financial Management Tool Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Personal Financial Management Tool Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Personal Financial Management Tool Market Size & Forecast, 2020-2028
4.5.1 Personal Financial Management Tool Market Size and Y-o-Y Growth
4.5.2 Personal Financial Management Tool Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 General Personal Financial Management Tool
5.2.2 Professional Personal Financial Management Tool
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Account Information Management
6.2.2 Credit Card Management
6.2.3 Investment Analysing
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Personal Financial Management Tool Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Personal Financial Management Tool Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 General Personal Financial Management Tool
9.6.2 Professional Personal Financial Management Tool
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Account Information Management
9.10.2 Credit Card Management
9.10.3 Investment Analysing
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 General Personal Financial Management Tool
10.6.2 Professional Personal Financial Management Tool
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Account Information Management
10.10.2 Credit Card Management
10.10.3 Investment Analysing
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 General Personal Financial Management Tool
11.6.2 Professional Personal Financial Management Tool
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Account Information Management
11.10.2 Credit Card Management
11.10.3 Investment Analysing
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 General Personal Financial Management Tool
12.6.2 Professional Personal Financial Management Tool
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Account Information Management
12.10.2 Credit Card Management
12.10.3 Investment Analysing
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 General Personal Financial Management Tool
13.6.2 Professional Personal Financial Management Tool
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Account Information Management
13.10.2 Credit Card Management
13.10.3 Investment Analysing
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Personal Financial Management Tool Market: Competitive Dashboard
14.2 Global Personal Financial Management Tool Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BridgeTrack
14.3.2 FinanceWorks
14.3.3 Intuit
14.3.4 Geezeo
14.3.5 Mint
14.3.6 MoneyDesktop
14.3.7 SapientNitro
14.3.8 Strands Finance
14.3.9 Wells Fargo
14.3.10 Yodlee
