Global Personal Finance Mobile App Market is Projected to Reach $12.58 Billion by 2034

Incorporation of Machine Learning and Artificial Intelligence in Personal Finance Mobile Apps Leading to Data-driven Financial Insights: Fact.MR Report

The global personal finance mobile app market is projected to reach a value of US$ 2.9 billion in 2024, as revealed in an updated study by Fact.MR, a market research and competitive intelligence provider. The market has been forecasted to expand at a high-value CAGR of 15.8% from 2024 to 2034.

Growing use of machine learning and artificial intelligence technologies in personal finance mobile apps has led to enhanced analytical capabilities, thereby making them more attractive for end users opting for data-driven financial insights. The market is facing certain challenges related to data security and privacy issues, as users are entrusting these applications with sensitive financial data. It is expected that app providers will invest significantly in robust security measures to address these issues with more efficiency.

Expanding user demographics, such as small business owners and younger generations, and their integration with banking services, are ensuring a holistic financial experience. Growing financial literacy and an increasing population of tech-savvy people are also contributing to the growing demand for mobile banking applications, with a desire for financial empowerment.

For More Insights into the Market, Request a Sample of this Report:

https://www.factmr.com/connectus/sample?flag=S&rep_id=6945

Key Takeaway from the Market Study:

• Global demand for personal finance mobile apps is analyzed to reach a market value of US$ 12.58 billion by 2034-end.
• Paid personal finance mobile apps are projected to account for 53.3% share of global market revenue by the end of 2034.
• The market in Japan is approximated to expand at a CAGR of 16.4% from 2024 to 2034.
• North America is forecasted to account for 24.3% of the global market share by 2034.
• Worldwide demand for iOS-based personal finance mobile apps is evaluated to increase at a CAGR of 15.2% and reach a value of US$ 4.48 billion by 2034-end.
• The market in South Korea is forecasted to increase at a CAGR of 16.6% from 2024 to 2034.

“Rising investments in R&D to develop whole data security models with ensured safety and reduced issues related to data breaches will drive the market forward over the coming years,” says a Fact.MR analyst.

Leading Players Driving Innovation in the Personal Finance Mobile App Market:

Intuit; Digit; Chime; Prism; Albert; Spendee; Splitwise; Personal Capital; DollarBird; IND Money; Google Pay Later; Wallet by BudgetBakers; You Need A Budget; Simplifi by Quicken; PocketGuard

Surging Utilization of Paid Personal Finance Mobile Apps for Personalized Navigation:

Global demand for paid personal finance mobile apps is evaluated to increase at a CAGR of 15.7% and reach a market value of US$ 6.71 billion by the end of 2034. The growing use of paid finance mobile apps is because of their advantages for users, such as exclusive services, data backup, and personalized navigation. These features are leading to increased security for users, who prefer to switch between paid platforms.

Personal Finance Mobile App Market News:

• Credit Karma was taken over by Intuit in January 2023. The takeover will assist Inuit in diversifying its personal finance offerings against various other top-tier market competitors like NerdWallet and Mint.
• Finicity was acquired by Microsoft in March 2023. This provided Microsoft with direct access to Finicity's APIs, which are used in banks and some other financial institutions to provide financial information to consumers.
• Google, back in April 2023, introduced a new personal finance app, Google Pay Later. The app allows the user to make payments and pay over time, without any interest or fees.

Get Customization on this Report for Specific Research Solutions:

https://www.factmr.com/connectus/sample?flag=S&rep_id=6945

More Valuable Insights on Offer:

Fact.MR, in its new offering, presents an unbiased analysis of the personal finance mobile app market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on O.S. (operating software) (Android, iOS, others), subscription (free/premium, paid), and service (tracking expenses & budgeting, investments, universal, payment apps), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).

Check out More Related Studies Published by Fact.MR:

Worldwide demand for personal assistance apps is forecasted to increase at an impressive CAGR of 18.34% from 2023 to 2033. The global personal assistance apps market is currently worth US$ 4.37 billion and is thus expected to reach US$ 23.67 billion by the end of 2033.

Expanding at 5.8% CAGR, the global e-learning app market is projected to reach US$ 470.1 billion by 2034-end, up from US$ 267.5 billion in 2024, according to the latest industry analysis by Fact.MR.

The elderly care app market is set to witness significant growth during 2021 to 2031. The market is subjected to growth owing to accelerated growth in smartphone-based medical care apps used across the globe.

The home fitness app market is anticipated to value at US$ 1.53 billion by 2023. The home fitness application market is anticipated to expand to US$ 7.73 billion by 2033, at a CAGR of 17.6%.

As per Fact.MR’s latest research report, the global fitness application market size is estimated to reach US$ 1.97 billion in 2024. Worldwide demand for fitness applications is forecasted to rise at a CAGR of 18.6% and climb to a market value of US$ 10.84 billion by the end of 2034.

The global application transformation market was valued at US$ 12.1 Billion in 2021 and is projected to register a Y-o-Y increase of 11.6% in 2022 to be valued at US$ 13.5 Billion.