NEW YORK, July 8, 2022 /PRNewswire/ -- The Bill-Splitting Apps Market research report extensively covers market segmentation by Platform (Android and iOS). The bill splitting apps market share growth by the android segment will be significant during the forecast period. The growth is attributed to the growing use of Android smartphones across the globe, which increases the demand for Android OS. The availability of bill-splitting apps such as Splitwise, Splid, and Tricount will further support the market growth through this segment in the coming years. Moreover, the Bill Splitting Apps Market Share is expected to increase by USD 349.68 million from 2021 to 2026, with an accelerated CAGR of 10.84%- according to the recent market study by Technavio. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenarios, future market trends, market size & estimations, and major investment pockets.
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Vendor Insights-
The bill splitting apps market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- 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.
- Billr.me
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Regional Market Outlook
The bill splitting apps market research report extensively covers market segmentation by Geography (APAC, North America, Europe, South America, and Middle East and Africa). 46% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for bill-splitting apps in APAC. Market growth in APAC will be faster than the growth of the market in other regions. The large customer base of smartphones in countries such as China and India will facilitate the bill-splitting apps market growth in APAC over the forecast period.
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Latest Drivers & Challenges of the Market-
- Bill Splitting Apps Market Driver:
- Growing penetration of smartphones:
The increasing use of smartphones across the world has provided potential growth opportunities for bill-splitting apps. The smartphone market has been growing rapidly over the years and the majority of the growth of this market comes from low-priced smartphones. The proliferation of low-priced smartphones has resulted in their high demand in countries such as India, Vietnam, the Philippines, Sri Lanka, and Pakistan in APAC. The high penetration of low-cost, affordable smartphones and the new launches of high-end smartphones will increase the potential user base for several mobile apps, including expense management applications such as bill-splitting apps.
- Bill Splitting Apps Market Challenge
- Costs associated with bill splitting app development and operation:
The Bill-splitting apps are designed to facilitate user activities with technological support. Low-cost mobile apps are easy to develop. However, with the increasing demand for bill-splitting apps, there has been an increased need for associated activities, such as administrative support. The associated support activities are needed after the development of the app and cover app deployment throughout its operational lifecycle, which incur higher costs than those involved in application development. The growing load on bill-splitting apps will increase the need for better support activities. This will, in turn, add to the overall costs of developing, deploying, and maintaining the operation of bill-splitting apps during the forecast period.
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Bill Splitting Apps Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.84% |
Market growth 2022-2026 |
$ 349.68 million |
Market structure |
Fragmented |
YoY growth (%) |
8.51 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 46% |
Key consumer countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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 future consumer dynamics, market condition analysis for forecast period, |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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