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Global Personal Finance Software Market 2017-2021: Top Drivers and Forecasts by TechnavioTechnavio market research analysts forecast the global personal finance software market to grow at a CAGR of more than 5% during the forecast period, according to their latest report. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170724006281/en/ 
Technavio has published a new report on the global personal finance software market from 2017-2021. (Graphic: Business Wire) The market study covers the present scenario and growth prospects of the global personal finance software market for 2017-2021. The report also lists web-based software and mobile-based software as the two major segments, with web-based personal finance software dominating the market with a share of more than 54% in 2016. One of the major reasons for this is the high adoption rate of this technology among home business users. Personal finance software helps home business users to easily manage their business operations and funding as it enables the effective planning and management of the inflow and outflow of monetary funds. According to Amrita Choudhury, a lead analyst at Technavio for enterprise application research, "The budget for investing in personal finance software is high for business users when compared to individual users, who mainly opt for freeware. The availability of mobile applications has also boosted the rate of adoption of personal finance software." This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. Technavio analysts highlight the following three market drivers that are contributing to the growth of the global personal finance software market:
Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more. Growing dependency on the Internet One of the key drivers of this market is the increased use of the Internet for day-to-day activities and critical operations. People tend to post personal information on the Internet as Internet penetration is growing worldwide. Further, companies are offering storage services on the cloud, which is leading to the storage of critical information on the web. Moreover, banks and payment card companies are enabling customers to make transactions, such as online transactions and payments, using the Internet. Although online methods have benefits over traditional methods, they come with high-security risks. Personal finance software or home accounting software helps to keep track of such transactions and manage money flow. Need to track and manage income Personal finance software helps in tracking and managing the income flow of an individual or of a small business. This has made handling financial details easy as it can track investments and every small transaction. Personal finance software can even be linked with Internet banking to give live updates of transactions. This can help individual consumers and home business users in money management. The benefits of tracking and managing finances will boost the adoption of this technology in the market. Optimized performance In the increasingly competitive market landscape, vendors are giving importance to the enhancement of operational efficiency to gain a competitive advantage over competitors. End-users face constant issues with monetary fund management because of which they require advanced software solutions to track them. Managing and maintaining day-to-day monetary transactions as well as fund inflow and outflow is difficult for end-users. As a result, they adopt personal finance software on web-based platforms or as mobile applications to ensure efficient operations across different areas of operation. "The adoption of personal finance software has helped numerous end-users to save funds and minimize unnecessary expenditure, due to which both home business users and individual consumers are adopting personal finance software to analyze real-time and historical trends about monetary fund flows to ensure optimized performance," says Amrita. Browse Related Reports:
About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. If you are interested in more information, please contact our media team at [email protected].
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