Portland, OR, June 02, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global financial planning software market was estimated at $3.7 billion in 2021 and is expected to hit $16.9 billion by 2031, registering a CAGR of 16.6% from 2022 to 2031. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Rise in need to track & manage income of consumers and surge in mobile applications across the world drive the global financial planning software market. On the other hand, security and compliance issues in financial planning software and availability of open-source finance software restrain the growth to some extent. However, increased adoption of finance software among developing economies and rising number of high-net-worth individuals are expected to create lucrative opportunities in the industry.
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Covid-19 Scenario-
- The outbreak of the pandemic led to rise in online and mobile banking among individuals, which impacted the global financial planning software market positively.
- This trend is going to continue post pandemic as well, since many banks and FinTech industries have introduced various attractive banking strategies to support SMEs in terms of…
