TMCnet News

Bill splitting apps market 2022-2026: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio
[January 30, 2023]

Bill splitting apps market 2022-2026: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio


NEW YORK, Jan. 30, 2023 /PRNewswire/ -- According to Technavio, the global bill splitting apps market size is estimated to grow by USD 349.68 million from 2021 to 2026. The market is estimated to grow at a CAGR of 10.84% during the forecast period. Moreover, the growth momentum will accelerate. APAC will account for 46% of the market's growth during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. To know more, buy the report!

Global bill splitting apps market - Five forces
The global bill splitting apps market is fragmented, and the five forces analysis covers– 

  • Bargaining power of buyers 
  • The threat of new entrants
  • Threat of rivalry
  • Bargaining power of suppliers
  • Threat of substitutes
  • For interpretation of Porter's five forces model – Request a sample report

Global bill splitting apps market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global bill splitting apps market - Segmentation assessment

Segment overview
Technavio has segmented the market based on platform (Android and iOS). 

  • The Android segment will account for a significant share of the market's growth during the forecast period. The rising use of Android smartphones across the world has increased the demand for Android OS, which is driving the growth of the market. The Google Play Store is a major platform for developers owing to the growing use of Android smartphones. The availability of bill-splitting apps such as Splitwise, Splid, and Tricount will further support the market growth during the forecast period. Moreover, the launch of new Android software and app upgrades is adding to the demand for Android-based bill splitting apps across the world.

Geography overview
Based on geography, the global bill splitting apps market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global bill splitting apps market.

  • APAC will account for 46% of the market's growth during the forecast period. China, India, and Japan are the key countries for the bill splitting apps market in the region. Moreover, market growth in APAC will be faster than the growth of the market in other regions. Countries such as China and India have a large customer base of smartphones, which will drive the bill-splitting apps market growth in the region during the forecast period.

Download a sample report

Global bill splitting apps market – Market dynamics
Key factor driving market growth

  • The growing penetration of smartphones is driving the growth of the market.
  • The increasing use of smartphones globally has provided potential growth opportunities for bill splitting apps.
  • Low-priced smartphones account for the majority of the growth of the smartphone market across the world.
  • This has increased their high demand in APAC countries such as India, Vietnam, the Philippines, Sri Lanka, and Pakistan.
  • The high penetration of affordable smartphones and the launch of high-end new smartphones will increase the potential user base for several mobile apps, including bill splitting apps.
  • These factors will fuel the growth of the market during the forecast period.

Leading trends influencing the market 

  • The development of bill splitting apps for smartwatches is a key trend in the market.
  • The adoption of smart devices, such as smartwatches, is increasing steadily across the world.
  • Hence, vendors are developing applications that are compatible with smartwatches.
  • Integrated applications allow sharing of data among all smart devices, which is expected to have a positive impact on expense management applications, including bill splitting apps.
  • These factors will support market growth during the forecast period.

Major challenges hindering market growth

  • The costs associated with bill splitting app development and operation are challenging market growth.
  • With the increasing demand for bill splitting apps, the need for associated activities such as administrative support has increased.
  • The associated support activities cover app deployment throughout its operational lifecycle and incur high costs.
  • This will, in turn, add to the overall costs of developing, deploying, and maintaining the operation of bill splitting apps.
  • These factors will impede the market growth during the forecast period

Drivers, trends, and challenges have an impact on market dynamics, which can impact
businesses. Find more insights in a sample report!

What are the key data covered in this bill splitting apps market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the bill splitting apps market between 2022 and 2026
  • Precise estimation of the size of the bill splitting apps market and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the bill splitting apps market across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market's competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of bill splitting apps market vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

The medical billing outsourcing market is estimated to grow at a CAGR of 15.73% between 2022 and 2027. The size of the market is forecasted to increase by USD 11,704.49 million. This report extensively covers market segmentation by end-user (physician groups and clinics and hospitals), type (medical billing companies and freelance), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

The direct carrier billing market size is expected to increase by USD 30.00 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 11.42%. This report extensively covers direct carrier billing market segmentation by end-user (apps and games, online media, and others) and geography (APAC, Europe, North America, South America, and Middle East and Africa).





Bill Splitting Apps Market Scope

Report Coverage

Details

Page number

132

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.84%

Market growth 2022-2026

USD 349.68 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.51

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 46%

Key countries

US, China, India, Japan, and Germany

Competitive landscape

Leading vendors, market positioning of vendors, competitive strategies, and industry risks

Key companies profiled

ApTap Ltd., Bill.com Holdings Inc., Block Inc., bring10 LLC, Cluttr Inc., DigiGround Pty Ltd., Groupee Pty Ltd., Kittysplit UG, Locatable Ltd., Microsoft Corp., MWYN TECH Pvt. Ltd., National Bank of Kuwait S.A.K.P, NatWest Group plc, Paerpay Inc., PayPal Holdings Inc., Splid, Splittr, Splitwise Inc., Standy Software, Step Up Labs Inc., Thumbworks Technologies Pvt. Ltd., Tricount S.A., and Billr.me

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.


Browse for Technavio's information technology market reports

Table of contents

1 Executive Summary

  • 1.1 Market overview 
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Platform
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem 
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition 
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026 
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary 
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers 
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers 
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants 
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes 
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry 
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition 
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Platform

  • 5.1 Market segments 
    • Exhibit 24: Chart on Platform - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Platform - Market share 2021-2026 (%)
  • 5.2 Comparison by Platform 
    • Exhibit 26: Chart on Comparison by Platform
    • Exhibit 27: Data Table on Comparison by Platform
  • 5.3 Android - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Android - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Android - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Android - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Android - Year-over-year growth 2021-2026 (%)
  • 5.4 iOS - Market size and forecast 2021-2026
    • Exhibit 32: Chart on iOS - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on iOS - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on iOS - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on iOS - Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Platform 
    • Exhibit 36: Market opportunity by Platform ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview 
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation 
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison 
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 APAC - Market size and forecast 2021-2026 
    • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.4 North America - Market size and forecast 2021-2026
    • Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.5 Europe - Market size and forecast 2021-2026
    • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026 
    • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 US - Market size and forecast 2021-2026
    • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.9 China - Market size and forecast 2021-2026
    • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.10 India - Market size and forecast 2021-2026
    • Exhibit 70: Chart on India - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on India - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on India - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on India - Year-over-year growth 2021-2026 (%)
  • 7.11 Germany - Market size and forecast 2021-2026
    • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.12 Japan - Market size and forecast 2021-2026
    • Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography 
    • Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges 
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape 
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption 
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks 
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered 
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors 
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 Groupee Pty Ltd. 
    • Exhibit 89: Groupee Pty Ltd. - Overview
    • Exhibit 90: Groupee Pty Ltd. - Product / Service
    • Exhibit 91: Groupee Pty Ltd. - Key offerings
  • 10.4 Microsoft Corp. 
    • Exhibit 92: Microsoft Corp. - Overview
    • Exhibit 93: Microsoft Corp. - Business segments
    • Exhibit 94: Microsoft Corp. - Key news
    • Exhibit 95: Microsoft Corp. - Key offerings
    • Exhibit 96: Microsoft Corp. - Segment focus
  • 10.5 Paerpay Inc. 
    • Exhibit 97: Paerpay Inc. - Overview
    • Exhibit 98: Paerpay Inc. - Product / Service
    • Exhibit 99: Paerpay Inc. - Key offerings
  • 10.6 PayPal Holdings Inc. 
    • Exhibit 100: PayPal Holdings Inc. - Overview
    • Exhibit 101: PayPal Holdings Inc. - Product / Service
    • Exhibit 102: PayPal Holdings Inc. - Key offerings
  • 10.7 Splid 
    • Exhibit 103: Splid - Overview
    • Exhibit 104: Splid - Product / Service
    • Exhibit 105: Splid - Key offerings
  • 10.8 Splitwise Inc. 
    • Exhibit 106: Splitwise Inc. - Overview
    • Exhibit 107: Splitwise Inc. - Product / Service
    • Exhibit 108: Splitwise Inc. - Key offerings
  • 10.9 Standy Software 
    • Exhibit 109: Standy Software - Overview
    • Exhibit 110: Standy Software - Product / Service
    • Exhibit 111: Standy Software - Key offerings
  • 10.10 Step Up Labs Inc. 
    • Exhibit 112: Step Up Labs Inc. - Overview
    • Exhibit 113: Step Up Labs Inc. - Product / Service
    • Exhibit 114: Step Up Labs Inc. - Key offerings
  • 10.11 Thumbworks Technologies Pvt. Ltd. 
    • Exhibit 115: Thumbworks Technologies Pvt. Ltd. - Overview
    • Exhibit 116: Thumbworks Technologies Pvt. Ltd. - Product / Service
    • Exhibit 117: Thumbworks Technologies Pvt. Ltd. - Key offerings
  • 10.12 Tricount S.A. 
    • Exhibit 118: Tricount S.A. - Overview
    • Exhibit 119: Tricount S.A. - Product / Service
    • Exhibit 120: Tricount S.A. - Key offerings

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist 
    • Exhibit 121: Inclusions checklist
    • Exhibit 122: Exclusions checklist
  • 11.3 Currency conversion rates for US$ 
    • Exhibit 123: Currency conversion rates for US$
  • 11.4 Research methodology 
    • Exhibit 124: Research methodology
    • Exhibit 125: Validation techniques employed for market sizing
    • Exhibit 126: Information sources
  • 11.5 List of abbreviations 
    • Exhibit 127: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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 17,000 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.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/ 

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/bill-splitting-apps-market-2022-2026-a-descriptive-analysis-of-five-forces-model-market-dynamics-and-segmentation---technavio-301732344.html

SOURCE Technavio


[ Back To TMCnet.com's Homepage ]