Custom Accounting Software Market, Industry Share, Trends, Growth, Future Prospects, Forecast to 2025

The custom accounting software market is projected to grow at a considerable CAGR of around 9.0% during the forecast period (2019-2025). The rising number of money transactions related to different businesses along with the digitalization of payment options is the key factor to drive the custom accounting software market. Moreover, the ongoing globalization, increasing competition among the business enterprises, an ever-increasing regulatory compliance burden have created a need for advanced software that is adaptable to the changing general accounting principle related to specific businesses to maintain continuity of the business processes. The accounting software is highly adopted for different applications in several verticals such as business enterprise, education institution and others to manage account receivables, account payables, general ledger, and other accounting activities more effectively and efficiently.

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Further, the active adoption of cloud technology by the different verticals including business enterprise, government department, educational institutions and others is further creating the demand for custom accounting software for their accounting purpose. Business enterprises are actively adopting these solutions to perform the accounting process under time-saving mode. Further, this custom accounting software is used to perform the error-free transaction between the companies and clients. As per the Asia-Pacific Economic Cooperation (APEC), in 2017, an average of 67% of the urban and 61% of the rural population in APEC had the capacity to make or receive digital payments. The advent of e-commerce with rising internet penetration and its integration with other online applications including automated billing features, automated bank feeds, and so on is further promoting the business enterprises to adopt this software for their accounting activities.

The government is another major vertical that has a high requirement of such a solution owing to the high volume of money transactions. The government of different countries is taking leverage of the custom accounting software solution to increase the productivity of the accounting activities, by archiving, automating, and integrating human resource systems. SAM Solutions Inc., Microsoft Corp., Oracle Corp., Sage Intacct Inc., SAP SE, Custom Soft, Davis Software, Inc., Diceus, EZ Accounting Pte. Ltd., Foundation Software, Inc., JobBOSS, and MBA Software & Consulting, Inc. among others. are the major providers of custom accounting software solutions to different verticals.

Key Market Trends Covered In the Global Custom Accounting Software Market
o North America is anticipated to hold a considerable market in the global custom accounting software market.
o Low Awareness related to the available solution may restrain the growth of the global market.
o Globalization of business to drive the global custom accounting software market.
o Asia-Pacific to showcase a significant growth rate in the global market.
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Global Custom Accounting Software Market-Segmentation

By Type
o Cloud-based
o Web-based

By Verticals
o Business Enterprise
o Government Department
o Educational Institutions
o Others

Global Custom Accounting Software Market- Segment by Region

North America
o United States
o Canada

Europe
o Germany
o UK
o France
o Spain
o Italy
o Rest of Europe

Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific

Rest of the World

Company Profiles
o AccountMate Software Corp.
o Britec Computer Systems, Inc.
o Campbell Custom Software Development Co.
o Chetu Inc.
o Cleveroad, Inc.
o CustomSoft, Inc.
o Davis Software, Inc.
o Diceus
o EZ Accounting Pte. Ltd.
o Foundation Software, Inc.

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