![]() On the other hand, the presence of many open-source personal finance software vendors is reducing the overall revenue generated in the market resulting in a serious threat to the global market. The open-source personal finance software can be downloaded and run on all platforms.Open-source software tends to be an extremely economical solution for organizations with limited resources and expertise at their disposal.Hence, they adopt open-source solutions to manage their business operations and day-to-day expenditure with no capital investment. Most small-scale enterprises and individual users worldwide have low capital and cannot invest in expensive personal finance software solutions.the global personal finance software market is witnessing increased adoption of open-source personal finance software solutions. Open-source software is posing a serious threat to the market because of technological developments.The availability of open-source solutions is one of the factors impeding the personal finance software market growth.Key Personal Finance Software Market Challenge This, in turn, will fuel the market growth in the coming years. Service providers are offering low-cost data packages in rural areas to motivate end-users to use mobile broadband.The availability of low-cost handsets is accelerating the adoption of mobile phones among people.This encourages organizations to adopt mobile collaboration services that will help in increasing the profitability of their business. The increasing reach of mobile networks has led to increased penetration of mobile phones, which has increased the adoption of mobile communication services in rural areas.The availability of mobile applications is one of the key personal finance software market trends contributing to the market growth.Key Personal Finance Software Market Trend Such benefits will drive market growth in the forecast period. Moreover, personal finance software helps to keep track of such transactions and manage the money flow. Although online methods have benefits over traditional methods, they come with high-security risks.Banks and payment card companies are enabling customers to make transactions, such as online transactions and payments, using the internet.Companies are offering storage services on the cloud, which is leading to the storage of critical information on the web.People tend to post personal information on the internet, as internet penetration is growing worldwide. ![]() The growing dependency on the internet is one of the key drivers supporting the personal finance software market growth.Key Personal Finance Software Market Driver The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the personal finance software industry. The growing dependency on the internet is notably driving the personal finance software market growth, although factors such as the availability of open-source solutions may impede the market growth. ![]() ![]() Personal Finance Software Market: Key Drivers, Trends, and Challengesīased on our research output, there has been a positive impact on the market growth during and post COVID-19 era. What will the Personal Finance Software Market Size be During the Forecast Period?ĭownload Report Sample to Unlock the Personal Finance Software Market Size for the Forecast Period and Other Important Statistics The personal finance software market report also offers information on several market vendors, including Alzex software, BankTree Software Ltd, BUXFER Inc., CoinKeeper, CountAbout Corp., doxo Inc., Finicity Corp., HomeBank, Intuit Inc., MechCAD Software, Microsoft Corp., Money Dashboard Ltd., Moneyspire Inc., NCH SOFTWARE Pty Ltd., Personal Capital Corp., PocketSmith Ltd., Quicken Inc., The Infinite Kind, Tiller, and You Need a Budget LLC among others. Furthermore, this report extensively covers personal finance software market segmentation by end-user (home business users and individual users), product (web-based software and mobile-based software), and geography (North America, APAC, Europe, South America, and Middle East and Africa). This personal finance software market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The personal finance software market share is expected to increase by USD 242.41 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.24%. ![]()
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