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Accounting Software Market worth $22.43 billion by 2030, growing at a CAGR of 9.83% - Exclusive Report by 360iResearch
Accounting Software Market | 360iResearch
The Global Accounting Software Market to grow from USD 11.63 billion in 2023 to USD 22.43 billion by 2030, at a CAGR of 9.83%.
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Accounting software manages and records the financial transactions of an organization, including fixed asset, expense, and revenue management, and accounts receivable & payable, and reporting & analytics. The systematic recording of these financial transactions enables the production of financial statements, including balance sheets, cash flows, and income statements. The growing digitalization of financial operations and rising automation in accounting processes are resulting in increased deployment of accounting software in the end-use industries. In addition, the convenience in the use and accessibility is leading to the adoption of mobile and app-based accounting software. However, data privacy and security issues may impede the adoption of accounting software by the end-use sectors. Moreover, the advancements to assist accounts with cloud computing and the emergence of startups to provide efficiently managed financial operations are expected to create significant potential for the growth of the accounting software market worldwide.
The accounting software market is substantially developing in the Americas due to the presence of major players, increasing use of advanced technologies, and government enforcement to comply with accounting standards. The rapid digitalization of the financial sectors, favorable government initiatives and investments for adopting digital solutions, and the growing need to manage financial operations efficiently are accelerating the deployment of account software in the APAC region. The massive presence of small, medium, and large-sized enterprises across emerging economies has expanded the scope of accounting software in the region. The favorable governmental initiatives for adopting digitized solutions in financial services and deploying e-invoice solutions across banking and financial sectors encourage the use of accounting software in the EMEA region. Additionally, the ongoing advancements and integration of breakthrough technologies, including artificial intelligence (AI) and machine learning (ML), are expected to encourage the adoption of accounting software by end-use industries worldwide.
Market Segmentation & Coverage:
This research report categorizes the Accounting Software Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Integrated and Standalone. The Integrated commanded largest market share of 71.87% in 2023, followed by Standalone.
Based on Function, market is studied across Accounts Payable, Accounts Receivable, Cash Flow Management, Cost Management, and Reporting & KPIs. The Reporting & KPIs commanded largest market share of 29.25% in 2023, followed by Accounts Payable.
Based on Organization Size, market is studied across Large Enterprise and Small & Medium Enterprise. The Large Enterprise commanded largest market share of 52.65% in 2023, followed by Small & Medium Enterprise.
Based on Deployment, market is studied across On-Cloud and On-Premise. The On-Cloud commanded largest market share of 73.94% in 2023, followed by On-Premise.
Based on Industry, market is studied across Aerospace & Defense, Automotive & Transport, Business & Finance, Chemicals & Materials, Consumer Goods & Services, Energy & Natural Resources, Food & Beverage, Government & Public Sector, Healthcare & Pharmaceuticals, Manufacturing & Construction, and Telecommunications & Computing. The Automotive & Transport commanded largest market share of 18.27% in 2023, followed by Telecommunications & Computing.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.86% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Accounting Software Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Accounting Software Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Accounting Software Market, highlighting leading vendors and their innovative profiles. These include AccountMate Software Corporation, Acumatica, Inc., Adyen, Asana, Inc., Automatic Data Processing, Inc, Bectran Inc., Dassault Systèmes SE, Deltek, Inc., Epicor Software Corporation, Fiserv, Inc., Focus Softnet Pvt Ltd, FreeAgent Central Ltd., FreshBooks, Genesys Cloud Services, Inc., Indy.fr SAS, Infor Inc., Intel Corporation, International Business Machines Corporation, Intuit Inc., Microsoft Corporation, MYOB Group Pty Ltd., Nutanix, Inc., Oracle Corporation, Paychex Inc., Priority Software Ltd., Quadient Group, Reckon Ltd., Saasu Pty Ltd., Salesforce, Inc., SAP SE, SAS N2JSoft, ServiceNow, Inc., Syspro Proprietary Ltd., Tally Solutions Private Limited, The MathWorks, Inc., The Sage Group PLC, Unit4 Business Software Limited, Xero Limited, Yonyou Network Technology Co. Ltd., Zeta Software, and Zoho Corporation Pvt. Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Accounting Software Market, by Type
7. Accounting Software Market, by Function
8. Accounting Software Market, by Organization Size
9. Accounting Software Market, by Deployment
10. Accounting Software Market, by Industry
11. Americas Accounting Software Market
12. Asia-Pacific Accounting Software Market
13. Europe, Middle East & Africa Accounting Software Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Accounting Software Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Accounting Software Market?
3. What is the competitive strategic window for opportunities in the Accounting Software Market?
4. What are the technology trends and regulatory frameworks in the Accounting Software Market?
5. What is the market share of the leading vendors in the Accounting Software Market?
6. What modes and strategic moves are considered suitable for entering the Accounting Software Market?
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