Press release
India's Accounting Software Market Set to Surge, Projected to Reach US$ 17.12 Billion by 2027
India's Accounting Software Market
The report presents a comprehensive analysis of the India Accounting Software Market, delving into market dynamics, drivers, restraints, and regional insights. The research methodology combines real output, supply, and demand data from 2020 with insights from key industry players and global trends.
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What are India Accounting Software Market Dynamics?
Accounting software aids SMEs in minimizing mistakes made while interacting with businesses and clients, improving relationships and reputations while freeing up time to concentrate on the core idea of the business. The trend of small and medium-sized companies collaborating with e-commerce companies and integrating with other online applications, such as automated bank feeds and automated billing capabilities, is expected to increase between 2021 and 2027.
The cost savings of the cloud are being utilized by a sizable number of suppliers who have accounting as their core business. They have also been concentrating on the more specialized "micro, small, and medium" businesses. The incorporation of cutting-edge features, such artificial intelligence, for applications like planning, learning, problem-solving, and speech recognition, is one of the unique strategies used by these accounting software startups.
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India Accounting Software Market Segmentation?
by Component
• Software
• Services
The market is divided into Software and Services based on Component. By 2027, the software sector is anticipated to have the greatest market share of **%. Businesses frequently use software solutions to increase workplace efficiency and save time. The application allows for a reduction in human error and very accurate completion of complex computations.
by Enterprise Size
• Large Enterprise
• Small and Medium Enterprise
The market is divided into three categories: large enterprises, small enterprises, and medium enterprises. During the projection period, the small and medium enterprise segment is anticipated to expand quickly at a CAGR of **%. SMEs that use the most recent accounting software see significant improvements in their business operations.
Who are India Accounting Software Market Key Players?
• Xero • Giddh Accounting Software • Reach Accountant • Book Keeper • Zoho Books • MProfit • Quickbooks • Wave Accounting • Zoho Expense • FreshBooks • NetSuite ERP • FreeAgent • Vyapar • SlickAccount • Reeleezee for Accounting • Tally.ERP 9 • Profitbooks • Busy Accounting Software
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Regional Insights:
North America
Europe
Asia-Pacific
Middle East & Africa
Latin America
Regions such as North America and Asia-Pacific (APAC) are expected to experience the highest CAGR during the forecast period. The adoption of managed services in the telecom sector, coupled with technological advancements, drives growth in North America. APAC's growth can be attributed to the establishment of new data centres in countries like China, India, Singapore, and Australia, along with the increasing demand for internet and mobile services.
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