Press release
Accounting Software Market to Witness Remarkable Growth by 2029 | Microsoft, SAP, Epicor
Accounting Software Market
The global Accounting Software market size is projected to grow from US$ 14850 million in 2022 to US$ 24420 million in 2029; it is expected to grow at a CAGR of 7.4% from 2023 to 2029.
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Summary
Accounting software is a foundational technology for many companies, and as a business grows having a powerful, effective accounting solution becomes increasingly critical. Most accounting software packages offer the same basic features necessary for managing finances: accounts receivable, accounts payable, general ledger, billing and invoicing, purchase and sales orders, and reporting. Beyond basic functionality, the top accounting solutions offer additional features to give users more power, flexibility and customization. Oftentimes accounting solutions are closely integrated with other key software solutions. Most ERP solutions include an extensive accounting module, but buyers should also consider best-of-breed, standalone accounting software.
Accounting solutions target four segments. Entry Level software is the least expensive and with the least number of features and functionality. This segment is now split into Embedded Accounting Software packages, Online Solutions Accounting Software and Desktop Non-embedded Solutions Accounting Software. The Market is separated into Small to Medium Business (SMB) and Small to Medium Enterprise (SME.) Finally, there are the major Enterprise Resource Planning (ERP) solutions that are typically deployed in Fortune 500-size companies. In this report, the focus of this article is small to medium sized businesses, so in this report there is not involving the ERP solutions with large companies.
The "Accounting Software Industry Forecast" looks at past sales and reviews total world Accounting Software sales in 2022, providing a comprehensive analysis by region and market sector of projected Accounting Software sales for 2023 through 2029. With Accounting Software sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Accounting Software industry.
This Insight Report provides a comprehensive analysis of the global Accounting Software landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Accounting Software portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Accounting Software market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Accounting Software and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Accounting Software.
Global Accounting Software key players include Intuit, Sage, SAP, Oracle(NetSuite), etc. Global top four manufacturers hold a share over 50%.
North America is the largest market, with a share about 40%, followed by Europe, and Asia-Pacific, both have a share about 50 percent.
In terms of product, Desktop Non-embedded Solutions Accounting Software is the largest segment, with a share over 50%. And in terms of application, the largest application is Manufacturing, followed by Services, Retail, etc.
This report presents a comprehensive overview, market shares, and growth opportunities of Accounting Software market by product type, application, key players and key regions and countries.
Market Segmentation:
Segmentation by type
Embedded Accounting Software Packages
Online Solutions Accounting Software
Desktop Non-Embedded Solutions Accounting Software
Segmentation by application
Manufacturing
Services
Retail
This report also splits the market by region:
Americas, United States, Canada, Mexico, Brazil, APAC, China, Japan, Korea, Southeast Asia, India, Australia, Europe, Germany, France, UK, Italy, Russia, Middle East & Africa, Egypt, South Africa, Israel, Turkey, GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Intuit, Sage, SAP, Oracle (NetSuite), Microsoft, Infor, Epicor, Workday, Unit4, Xero, Yonyou, Kingdee, Acclivity, FreshBooks, Intacct, Assit cornerstone, Aplicor, Red wing, Tally Solutions Pvt. Ltd.
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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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Geographically, the following regions together with the listed national/local markets are fully investigated:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
It's vital you keep your market knowledge up to date. If you have a different set of players/manufacturers according to geography or needs regional or country segmented reports we can provide customization accordingly.
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Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like APAC, North America, LATAM, Europe, or Southeast Asia.
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 (434) 322-0091
sales@htfmarketreport.com
About Author:
HTF Market Intelligence consulting is uniquely positioned empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events and experience that assist in decision making.
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