The bill-splitting apps market is segmented into two categories based on the platform (Android and iOS) and geography (APAC, North America, Europe, South America, and MEA). The market share is expected to increase by USD 203.43 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 9.56%.
Parent Market Analysis
Technavio categorizes the global bill splitting apps market as a part of the global application software market within the global information technology (IT) software market. Factors such as increased analytics adoption in organizations, increased software investments by SMEs, and expanding adoption of cloud and subscription-based software will fuel growth in the worldwide application software market.
Technavio uses the total revenue generated by manufacturers to estimate the bill-splitting apps’ market size. External factors influencing the parent market’s growth potential in the coming years have been thoroughly investigated in our research analysis, to know more about the levels of growth of the bill splitting apps market throughout the forecast period, Download a free sample.
Bill Splitting Apps Value Chain Analysis
To maximize profit margins and evaluate business plans, an end-to-end understanding of the bill-splitting apps market is required. The report will help vendors drive costs and enhance customer services during the forecast period.
- Inputs
- Software development
- Marketing and distribution
- Post-selling services
- Innovations
To unlock information about vendor drive costs and customer service, download our free sample report.
Vendor Insights
The bill-splitting apps market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. To make the best of the opportunity, the market vendors should focus more on the fast-growing segment’s growth prospect while maintaining their positions in the slow-growing segments.
We provide a detailed analysis of vendors operating in the market, including some of the vendors such as Groupee Pty Ltd, Locatable Ltd., Microsoft Corp., paerpay Inc., PayPal Holdings Inc., Splid, Splitwise Inc., Thumbworks Technologies Pvt. Ltd., and Tricount.
Backed with competitive intelligence and benchmarking, our research reports on the bill splitting apps market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Product Insights and News
- Groupee Pty Ltd.– Offers instant pay sharing platform which enables people to group money to pay together.
- Locatable Ltd. – Offers bill splitting app to split expenses equally between the House members and friends.
- PayPal Holdings Inc. – Offers bill split feature to easily split costs between friends and family.
The bill splitting apps market forecast report offers in-depth insights into key vendor profiles and offerings – Download Free Sample Report
Geographical Highlights
The bill splitting apps market share growth in APAC will be significant 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 growing number of mobile phone subscribers in the region can be linked to individuals in APAC having more discretionary income. This has resulted in increased smartphone adoption in APAC, particularly in China and India, as well as increased investments in communication technology across the region, including telecom companies’ spending in constructing advanced mobile communication infrastructure.
Furthermore, the US, China, India, Germany, and Japan are APAC’s top producers of bill splitting apps market owing to the large customer base of smartphones in the region.
To unlock the top strategies practiced by the maximum growth generating region, View Sample Report
Key Market Dynamics-
- Bill Splitting Apps Key Market Drivers:
- Growing penetration of smartphones
The growing use of smartphones around the world has opened up new possibilities for bill splitting apps. In APAC countries such as India, Vietnam, the Philippines, Sri Lanka, and Pakistan, the proliferation of low-cost smartphones has led to significant demand. The widespread availability of low-cost, affordable smartphones, as well as new high-end smartphone launches, will expand the potential user base for a variety of mobile apps, including expense management apps like bill splitting apps.
- Bill Splitting Apps Key Market Trends:
- Development of bill splitting apps for smartwatches
Smart devices, particularly smart watches, are becoming increasingly popular around the world. The growing popularity of smartwatches is driving mobile app developers to create programs that are compatible with smartwatches and allow data to be synced with smartphones. Expense management apps, particularly bill splitting apps, are projected to benefit from such trends in the development of integrated applications that can share data across all smart devices.
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