Like many other categories, finance apps are bouncing back from the economic turbulence.
They are experiencing a big surge in activity as global stock markets and cryptocurrencies hit new highs. This increased engagement is driving competition within the sector, particularly in investing and crypto apps. Despite the roughness in the crypto market, there have been positive developments in 2024, such as Bitcoin reaching an all-time high price of $75,830 on March 14, 2024.
These positive changes set the stage for continuous growth. Total revenue is expected to show an annual growth rate (CAGR 2022-2027) of 10.96%, resulting in a projected market volume of $2.50 billion by 2027.
According to the forecast, the demand for finance apps isn’t going away, ensuring a steady growth in downloads. By 2027, the number of downloads is projected to reach 3.88bn downloads.
By leveraging the Google Play data for top 15 finance apps in the U.S. from App Radar, we can confirm that the market witnesses a steady growth in the first half of 2024.
Cash App consistently has the highest number of downloads, with notable spikes in January and February. This can be attributed to the people looking for a financial boost/loan after the holiday season.
Apps like Intuit Credit Karma, Venmo, Wells Fargo Mobile, and Bank of America Mobile Banking show steady download numbers without significant spikes.
Providers EBT by Propel and Chase Mobile have occasional peaks, indicating periods of increased downloads.
Apps like Discover Mobile, U.S. Bank Mobile Banking, and Capital One Mobile show steady but lower download numbers compared to the top performers.
Other apps maintain steady download rates, indicating sustained user interest and possibly regular updates or marketing efforts.
With more finance apps entering the market, competition for visibility in app stores will become even more intense. ASO managers will need to find unique selling points of their apps and emphasize them in app listings to stand out.
In this context, becoming data-driven is more important than ever. To help you understand the changes in user behavior and the preferences of your target audience, we’ve collected ASO benchmarks with our A/B testing tool, SplitMetrics Optimize, as well as gathered insights from our team and ASO tool, App Radar, breaking down major creative trends on Google Play and the App Store.
