Highlights
Market definition
in-scope / out-of-scope
Reports special
  • Total transaction value in the Personal Finance segment amounts to US$702,152m in 2020.
  • Total transaction value is expected to show an annual growth rate (CAGR 2020-2024) of 25.0% resulting in the total amount of US$1,715,072m by 2024.
  • The market's largest segment is Robo-Advisors with a total transaction value of US$682,726m in 2020.
  • The highest cumulated transaction value is reached in the United States (US$702,152m in 2020).
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The Personal Finance market segment contains automated investment services (Robo-Advisors) and cross-border fund transfers between private users (Digital Remittances).
Online brokers without automated or recommendation-based advisory roles and online bank transfers, or domestic payment and fund transfer transactions are not included in the Personal Finance market segment.
in-scope
  • Cross-border fund transfers (remittances)
  • Robo-advisors (automated wealth management services)
out-of-scope
  • Domestic fund transfers & social payments
  • Non-automated financial advisory, financial planning or broker services
  • Personal finance management services (PFM) and budgeting manager
Personal Finance report 2020

Personal Finance report 2020

Statista Digital Market Outlook
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Transaction Value (2020)
+12.3% yoy
US$702,152m
Users (2020)
+8.4% yoy
9.79m

Transaction Value Transaction Value Growth

in the Personal Finance market in million US$ in percent

Reading Support Total Transaction Value in the Personal Finance segment amounts to US$702,152m in 2020. Reading Support The Digital Remittances segment is expected to show a transaction value growth of 36.8% in 2021.

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  • Transaction Value
  • Transaction Value Growth
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Transaction Value:

The "Transaction Value" box shows the forecasted value of transactions in the selected market (market segment, region) for each year. The figures do not refer to the actual revenue that is generated by the processing companies.


Transaction Value Growth:

The "Transaction Value Growth" box shows the year-over-year development of the transaction value in the selected market (market segment, region) in percentage terms.

A definition and detailed explanation of the displayed markets can be found here.
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Users Penetration Rate

in the Personal Finance market in millions in percent

Reading Support In the Digital Remittances segment, the number of users is expected to amount to 2.65m by 2024. Reading Support User penetration in the Personal Finance segment is at 3.0% in 2020.

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  • Users
  • Penetration Rate
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User:

The “User” box shows the number of active paying customers (or accounts) of the selected market (market segment, region) in millions for each year.


Penetration Rate:

The “Penetration Rate” box shows the share of active paying customers (or accounts) from the total population of the selected market (market segment, region) for each year.

A definition and detailed explanation of the displayed markets can be found here.
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av. Transaction Value per User

in the Personal Finance market in US$

Reading Support The average transaction value per user in the Digital Remittances segment amounts to US$12,145 in 2020.

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Average Transaction Value per User:

The box shows the average annual transaction value per user (or potential user) of the selected market (market segment, region) for each year.

A definition and detailed explanation of the displayed markets can be found here.
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Global Comparison - Transaction Value

in the Personal Finance market in million US$

Reading Support With a total transaction value of US$702,152m in 2020, the highest value worldwide is reached in the United States.

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Top 5
1. United States
2. China
3. Australia
4. Japan
5. Switzerland
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Global Comparison – Transaction Value:

The box shows a comparison of transaction values for 150 of the world's leading digital economies in the selected market (market segment, region) and year.


A definition and detailed explanation of the displayed markets can be found here.
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Key Market Indicators

The following Key Market Indicators give an overview of the social and economic outlook of the selected region and provide additional insights into relevant market-specific developments. These indicators, together with data from statistical offices, trade associations and companies serve as the foundation for the Statista market models.

20172018201920202021202220232024 CAGR
(2017-2024)
Population in m
Number of individuals (all ages) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices
0-14 years in m
Number of individuals (age 0-14) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices
15-24 years in m
Number of individuals (age 15-24) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices
25-34 years in m
Number of individuals (age 25-34) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices
35-44 years in m
Number of individuals (age 35-44) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices
45-54 years in m
Number of individuals (age 45-54) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices
55+ years in m
Number of individuals (age 55 and older) living in the selected region, the data is based on the United Nations' medium variant of World Population Prospects as well as similar projections by national statistical offices | Source: Statista, based on UN DESA and national statistical offices
Consumer spending (current) in US$
Average consumer spending per capita of private households in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Foodstuffs, beverages in US$
Consumer spending per capita for food and non-alcoholic beverages (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. It covers all private household spendings meant for consumption at home. In contrast, the Food market in the Consumer Market Outlook covers only certain segments of processed food and excludes for example fresh food, oils and fats and some other items. The markets for Alcoholic, Non-Alcoholic and Hot Drinks in turn not only include sales for at-home consumption (off-trade) but also sales to the on-trade sector (restaurants, bars, cafés). | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Alcohol, tobacco in US$
Consumer spending per capita for alcoholic beverages, tobacco and narcotics (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). The COICOP definition varies from the market definitions employed in the Consumer Market Outlook. It covers all private household spendings meant for consumption at home. The market for Alcoholic, Non-Alcoholic and Hot Drinks not only include sales for at-home consumption (off-trade) but also sales to the on-trade sector (restaurants, bars, cafés). | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Clothing, footwear in US$
Consumer spending per capita for clothing and footwear (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). Included are both consumption of goods as well as services (cleaning and cobblers). | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Housing in US$
Consumer spending per capita for housing, water, electricity, gas and other fuels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Household in US$
Consumer spending per capita for furnishings, household equipment and routine maintenance of the house (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Health in US$
Consumer spending per capita for health (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Transport in US$
Consumer spending per capita for transport (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). This group inlcudes the purchase of vehicles, maintenenace of vehicles as well as transportation services. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Communication in US$
Consumer spending per capita for communication (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Recreation, culture in US$
Consumer spending per capita for recreation and culture (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Education in US$
Consumer spending per capita for education (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Restaurants, hotels in US$
Consumer spending per capita for restaurants and hotels (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate) | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Other in US$
Consumer spending per capita for miscellaneous goods and services (according to the Classification of Individual Consumption Purposes, COICOP) in the selected region (in current prices, constant exchange rate). These include personal care products and services, personal items like watches and jewellery as well as all other products and services not mentioned elsewhere. | Source: Statista, based on IMF, UN, World Bank, Eurostat and national statistical offices
Telecommunication
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Broadband subscriptions per 100 capita
Number of-fixed broadband subscriptions per 100 inhabitants | Source: Statista, based on World Bank
Smartphone penetration in %
Estimated share of the total population using a smartphone | Source: Statista
Internet users in m
Number of people in the selected region using the internet | Source: Statista, based on ITU and national statistical offices
Hardware market
Click arrow to expand
Per-capita volume laptops in units
Average per capita sales of laptops and tablets in units | Source: Statista Consumer Market Outlook
Per-capita revenue laptops in US$
Average revenue of laptops and tablets per capita | Source: Statista Consumer Market Outlook
Per-capita volume desktop PCs in units
The indicator shows the estimated average per capita sales of Desktop-PCs in units. | Source: Statista Consumer Market Outlook
Per-capita revenue desktop PCs in US$
The indicator shows the estimated average revenue of Desktop-PCs per capita. | Source: Statista Consumer Market Outlook
Per-capita volume mobile phones in units
The indicator shows the estimated average per capita sales of mobile phones in units. | Source: Statista Consumer Market Outlook
Per-capita revenue mobile phones in US$
The indicator shows the estimated average revenue of mobile phones per capita. | Source: Statista Consumer Market Outlook
Finance
Click arrow to expand
Credit card penetration in %
Percentage of the total population who own at least one credit card | Source: Statista, based on World Bank
Online banking penetration in %
Estimated population share that uses the internet for accessing banking services | Source: Statista, based on World Bank and Eurostat
Number of credit cards in use
Total number of credit cards (including delayed debit cards) in circulation in the selected region | Source: Statista, based on BIS
Households in m
The indicator shows the total number of private households in the selected region. Households denote residential communties of people living and keeping house together. Business facilities as well as institutional housholds (like unversity dormitories or retire homes) are not counted as households. | Source: Statista, based on national and international statistical offices
GDP (current) in US$
Gross domestic product (in current prices, constant exchange rate) of the selected region per capita | Source: Statista, based on IMF WEOD
Internet penetration in %
Estimated share of the total population in the selected region using the internet | Source: Statista, based on ITU and national statistical offices
Total investment (% of GDP) in %
Total investment or gross capital formation refers to the total value of the gross fixed capital formation and changes in inventories and acquisitions less disposals of valuables for a unit or sector. | Source: Statista, based on IMF WEOD
Source: Statista, May 2020
Source: Statista, May 2020, based on IMF, World Bank, UN and Eurostat

Methodology

The Personal Finance data is based on Statista’s primary research (the Statista Global Consumer Survey), bottom-up modeling, market data from independent databases and third-party sources, the analysis of various key market and macroeconomic indicators, historical developments, current trends, the reported performance indicators of the key market players, and Statista interviews with market experts.

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For the Personal Finance market, our analysts create reports with detailed comparisons and important background information. Get an overview of trends and key players and consult comparisons of the focus regions USA, China, and Europe.

  • All the important data on the Personal Finance market, including market size, forecasts, and regional comparisons
  • Consumption data, deep dives, and trends
  • Information about key players and insights about start-ups