Portland, Nov. 20, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the U.S. personal finance software market was estimated at $232.1 million in 2018 and is anticipated to hit $343 million by 2026, registering a CAGR of 5.0% during 2019–2026.
The rise in need to track & manage income, the surge in use of the mobile application and an increase in dependency on the Internet have boosted the growth of the U.S. personal finance software market. However, the availability of open-source solutions hampers the market. However, growing awareness among people toward the use of personal finance monitoring is expected to create lucrative opportunities in the near future.
The U.S. personal finance software market is segmented on the basis of product and end-user. Based on the product, the market is divided into web-based software and mobile-based software. The mobile-based software segment held the largest share in 2018, contributing more than half of the market, owing to increased customer preference to use this software as its increased flexibility in managing personal finance software. Moreover, the segment is projected to register the fastest CAGR of 5.8% during the forecast period.
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On the basis of end-users, the market is bifurcated into small business users and individual consumers. The small business users segment dominated the market in 2018, accounting for more than half of the market as this software helps small business users to make smart investment decisions by monitoring spending trends and tracking financial goals. However, the individual consumer segment is estimated to portray the fastest CAGR of 6.1% during the study period.
The U.S. personal finance software market report includes an in-depth analysis of the major market players such as IGG Software, Inc., doxo Inc., Quicken Inc., Microsoft Corporation, Moneyspire Inc., You Need a Budget LLC, Personal Capital Corporation, Buxfer, Inc., Qapital, Inc., and CountAbout Corporation.
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