Expense Tracking Apps Market

Expense Tracking Apps Market Overview

The global Expense Tracking Apps Market size was valued at USD 7.15 billion in 2024 and is predicted to reach USD 14.44 billion by 2030 with a CAGR of 12.3% from 2025-2030.

The drivers such as growing adoption of smartphones and other smart devices, growing adoption of cashless transactions along with expansion of travel and tourism industry propels the market growth. Impact of data breaches and unauthorized access to financial data, however, restricts the market growth. Conversely, technology advancements such as introduction of artificial intelligence create future prospects for the market growth. 

In addition, leading firms namely Jupiter Money, Expensify, Inc, and others are adopting different strategies including product launch and partnerships to boost their position and product offerings in the market. With the changing market, companies are more inclined towards improving user experience with intuitive interfaces, deeper analytics, and customized financial advice. The market competition compels constant innovation resulting in more advanced features and services.

Increasing Adoption of Smartphones and other Smart Devices Boosts the Market Growth

Growing user base of smartphones fuels the need for expense tracking apps as users want easy solutions to manage finances. These apps provide users with easy tracking of expenditure along with budget setting and real time feedback providing a better and a more accessible way to control finances from the convenience of their own smartphones. As per Global System for Mobile Communication Association, smartphone penetration in Latin America stood at 80% in 2023 and is expected to reach 92% by 2030, similarly, in Middle East and North Africa it stood at 81% and is projected to rise to 90% by 2030 respectively. This surge in adoption of smartphone across various region drives the demand for various applications including finance tracking to efficiently manage and record the transactions.

Rising Adoption of Cashless Transactions Drives the Market Growth

The rising adoption of digital payment methods and cashless transactions drives the growth of the expense tracking apps market with capability to capture and categorize digital transactions, making them highly effective tools for financial management. This reduces the need for manual data entry and reporting ensuring greater transparency and accuracy in financial tracking. 

According to a report published by Capgemini, non cash transaction volumes reached 1.30 trillion by 2023 globally. As consumers and businesses adopt new digital payment schemes, the growth is expected accelerate to 2.30 trillion by 2027 growing at a rate of 15% annually. The rise in digital payment drives the expense tracking apps market demand to efficiently track the expenses incurred driving the growth of the market.

Expansion of Travel and Tourism Industry Drives the Market Growth

The expansion of travel and tourism industry drives the demand of these tracking apps as the applications allow tourist to track and manage their spending in such a manner so that they can easily remain within their financial limits while traveling. As per the latest report from the World Travel & Tourism Council, travel & tourism sector accounted for 9.1% of the global GDP, an 23.2% increase over 2022. Expansion of travel and tourism industry thus, translates into higher demand for expense tracking apps, showing the growing relevance of these for travelers looking to track their expenses.

Impact of Data Breaches and Unauthorized Access to Financial Information Hinders the Market Growth

Unauthorized access to monetary data and financial information breaches inhibits the market growth. It slows down consumer confidence and adoption of cashless transactions, making it more expensive for financial institutions to enhance security, thereby hindering of the expense tracking apps market growth.

Advancement of Technologies Creates Future Opportunities for the Market Growth

Advancements of technologies such as artificial intelligence is expected to create future opportunities in the expense tracking app market. AI technologies are revolutionizing the expense tracking app industry by categorizing expenses automatically, delivering customized money insights, and providing predictive analytics to aid in budgeting. The technologies simplify the process and make it accurate and quicker, pushing growth and innovation in the industry.

Market Segmentations and Scope of the Study

The expense tracking apps market report is segmented on the basis of purpose, features, device compatibility, deployment model, end-user and region. On the basis of purpose, the market is bifurcated into personal finance, business expense tracking, and team collaboration. On the basis of features the market is segmented into expense recording, receipt management, reporting and analytics, and integration with accounting software. On the basis of device compatibility, the market is segmented into iOS, Android, and Web. 

On the basis of deployment model, the market is divided into cloud-based, on-premises and hybrid. On the basis of industry vertical, the market is classified into small businesses, mid-sized businesses, large enterprises, and non-profit organizations. On the basis of end-user, the market is divided into business, non-profit organizations, and personal. Business is again divided into small sized businesses, mid-sized businesses, and large enterprises. Geographic breakdown and analysis of each of the aforesaid segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is the highest expense tracking apps market shareholder. It is likely to retain this position in the forecast period due to the rise in disposable incomes. As disposable income rises people tend to use various methods to track their spendings. The Organization for Economic Cooperation and Development reported that per capita household gross disposable income in Canada stood at USD 35,548 in 2023 reflecting a growth of 3.2% in just one year. With the increasing disposable income, people are looking for expense-tracking apps to help them with their accounting.

Furthermore, the growing tourism industry in North American region such as the U.S., Canada and Mexico drives market growth. These applications allow tourist to track and manage their spending in such a manner so that they can easily remain within their financial limits while traveling. According to a World Travel and Tourism report, North America expects to grow by USD 3.1 trillion by 2032 at a compound annual growth rate of 3.9% over the coming ten years. High growth in tourist and tourism industry thus, translates into higher demand for expense tracking apps, showing the growing relevance of these for travelers looking to track their expenses.

On the other hand, Asia-Pacific shows a steady rise in spending tracker app market during the forecast period. The high volume of digital payment transactions in countries includes India, China, and Japan. The increase in digital payments fuels the demand for expense tracking apps by creating a need for users to monitor, manage and optimize their financial activities. A report from the Ministry of Finance indicates that digital transactions in India increased from USD 0.32 billion in 2018 to USD 1.64 billion by 2023. Higher usage of digital finance tools as indicated by digital payments growth contributed to the growth of the market.

Furthermore, the rising number of smartphone user in this region drives the demand for expense tracking app. As the number of smartphone users increases, it proportionally increases the demand for expense tracking apps as people seek convenient ways to manage their personal finances. These apps provide users with easy tracking of their spending, enabling them to establish budgets and receiving real-time reminders providing an effective and convenient method of staying financially in control via their phones. As per GSMA's 2023 published report, the Asia-Pacific smartphone adoption reached 78% and is set to reach 91% by the year 2030. This growth expands the user base and makes the financial management more accessible.

Competitive Landscape

The expense tracking apps industry trends comprising of various key players such as Happay, Jupiter Money, Yodlee Inc., Spendee a.s., Concur Technologies, Inc., Calero, Emburse, Rydoo, Intrunic Inc., Wave Financials Inc., YNAB, Quicken, Lampo Licensing, LLC., Goodbudget, Invoice2go, LLC, and others. These companies are adopting various strategies including product launch, to maintain their dominance in these tracking apps market. 

For instance, in May 2024, Jupiter Money launches new savings feature for millennial users. With young consumers preferring to make purchases online through ecommerce websites, food delivery platforms and quick commerce. This new launch allows investment of a predetermined amount every time a user of the company’s eponymous mobile application makes a transaction through the app. The investment goes into digital gold and mutual funds.

Additionally, in November 2024 Happay expanded its offerings by launching a B2B payments solution on Bharat Connect, developed in collaboration with the National Payments Corporation of India, an Indian public sector company that operates retail payments and settlement systems in the country. Such product launch is anticipated to drive the expansion of the market in a rapid manner.

Key Benefits

• The report provides quantitative analysis and estimations of the expense tracking apps market from 2025 to 2030, that assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of the current and future expense tracking apps market trends to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the expense tracking apps market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Expense Tracking Apps Market Key Segments

By Purpose

• Personal Finance

• Business Expense Tracking

• Team Collaboration

By Features

• Expense Recording

• Receipt Management

• Reporting and Analytics

• Integrating with Accounting Software

By Device Compatibility

• iOS

• Android

• Web

By Deployment Model

• Cloud-Based

• On-premise

• Hybrid

By   End-User

• Businesses

• Small Businesses

• Mid-Sized Businesses

• Large Enterprises

• Non-profit organizations

• Personal

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

Key Players

• Happay

• Jupiter Money

• Yodlee Inc.a

• Spendee a.s.

• Concur technologies, Inc.

• Calero

• Emburse

• Rydoo

• Intuit Inc.

• Wave Financial Inc.

• YNAB

• Quicken

• Lampo Licensing, LLC.

• Goodbudget

• Invoice2go, LLC. 

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2024	USD 7.15 billion
Revenue Forecast in 2030	USD 14.44 billion
Growth Rate	CAGR of 12.3% from 2025 to 2030
Analysis Period	2024–2030
Base Year Considered	2024
Forecast Period	2024–2030
Market Size Estimation	Billion (USD)
Growth Factors	The rising adoption of smartphones fuels the growth of the market. The growing digital payments drives the growth of the market. The expansion of travel and tourism industry boost market growth.
Countries Covered	28
Companies Profiled	15
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.