Expense Tracker Apps Market Size, Trends And Strategies For 2024-2033

Overview and Scope

Expense tracker apps refer to software tools that allow people or businesses to monitor and manage their financial transactions. These apps often allow users to track their income, expenses, and other financial transactions, giving them insight into their spending habits, budgeting, and overall financial health.

Sizing and Forecast

The expense tracker apps market size has grown rapidly in recent years. It will grow from $8.59 billion in 2023 to $9.67 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%.  The growth in the historic period can be attributed to smartphone proliferation, increased financial awareness, rise in digital banking, security, and privacy concerns, and rise of the gig economy.

The expense tracker apps market size is expected to see rapid growth in the next few years. It will grow to $15.74 billion in 2028 at a compound annual growth rate (CAGR) of 13.0%.  The growth in the forecast period can be attributed to integration with the financial ecosystem, the emergence of open banking, expansion into emerging markets, focus on user education and engagement, and focus on financial wellness. Major trends in the forecast period include AI-powered insights, blockchain integration, subscription management, augmented reality (AR) features, voice-activated assistants, and collaborative budgeting.

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Segmentation & Regional Insights

The expense tracker apps market covered in this report is segmented –

1) By Platform: Mobile Apps, Web-Based Apps

2) By Subscription Model: Freemium, Premium

3) By Functionality: Basic Expense Tracker, Finance Analytics, Receipt Scanning And Management

4) By End User: Personal, Business

North America was the largest region in the expense tracker apps market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the expense tracker apps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

Increasing smartphone user penetration is expected to propel the growth of the expense tracker app market going forward. Smartphone user penetration refers to the percentage of the population that uses smartphones among the total population. The number of smartphone users is rising due to several factors, such as affordability, internet connectivity, social and cultural trends, and expanding mobile ecosystems. Expense tracker apps allow users to record and categorize expenses, create budgets, and obtain insights into their spending habits through their smartphones or tablets. Mobile users can set up the expense tracker app to send reminders and notifications about future payments, budget limitations, and unusual spending trends. For instance, in February 2024, according to a report published by Uswitch Limited, a UK-based service and switching website, there were 71.8 million mobile connections in the UK in 2022, an increase of 3.8% from 2021, or around 2.6 million. By 2025, it’s predicted that the UK population will reach 68.3 million and that 95% (roughly 65 million people) will be smartphone users. Therefore, the increasing smartphone user penetration is driving the growth of the expense tracking app market.

Key Industry Players

Major companies operating in the expense tracker apps market are Zoho Corporation Pvt. Ltd., SAP SE, Sodexo Motivation Solutions UK Limited, Intuit Inc., Paycom Software Inc., LendingTree LLC, Xero Limited, Expensify Inc. , Fresh Books, You Need A Budget LLC, Spendesk, Tiller LLC, Realbyte Inc. , Dayspring Technologies Private Limited, Cleevio s.r.o, Everlance Inc., Hurdlr Inc., PocketGuard Inc., WalletIQ Inc., Abacus Labs Inc., Truebill Inc., Wave Financial Inc., Ramsey Solutions Inc., Emburse Holdings Inc., Shoeboxed Inc.

The expense tracker apps market report table of contents includes:

1. Executive Summary
2. Expense Tracker Apps Market Characteristics
3. Expense Tracker Apps Market Trends And Strategies
4. Expense Tracker Apps Market - Macro Economic Scenario
5. Global Expense Tracker Apps Market Size and Growth
…
32. Global Expense Tracker Apps Market Competitive Benchmarking
33. Global Expense Tracker Apps Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Expense Tracker Apps Market
35.Expense Tracker Apps Market Future Outlook and Potential Analysis
36. Appendix

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