US Retail Recon Software Market was valued at $108.75 million in 2019 and supported by a CAGR of 11.8% by 2027

According to a recent report published by Allied Market Research, titled, "U.S. Retail Recon Software Market Share by Component, Software Type, Deployment Model, Retailer Size and Reconciliation Type: U.S. Opportunity Analysis and Industry Forecast, 2020-2027"

The U.S. retail recon software market was valued at $108.75 million in 2019, and is projected to reach $264.37 million by 2027, growing at a CAGR of 11.8% from 2020 to 2027.

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Reconciliation (Recon) software helps retail industry to identify the risk associated with their business and helps to eradicate human errors while accounting. In addition, it provides real-time updates at every stage of the accounting process. It offers different benefits, which include reducing errors, tracking interest fees, tracking receivable, and reducing the risk of fraud.

Surge in online transactions in the retail industry and rise in need for reconciliation management system drive the growth of the U.S. retail recon software market. In addition, substantial saving for U.S. retailers with high volume bank reconciliation needs fuels the growth of the market. However, various security issues in reconciliation software hamper the growth of the market. Furthermore, higher adoption of recon software among the SMRs and surge in usage of machine learning and artificial intelligence in recon software are expected to provide lucrative opportunities for the growth of the U.S. retail recon software market.

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Competitive Analysis:
The competitive environment of US Retail Recon Software Industry is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, US Retail Recon Software Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
AutoRek
Baldwin Hackett & Meeks, Inc.
Blackline, Inc.
Broadridge Financial Solutions, Inc.
Cashbook
Fiserv, Inc.
Oracle Corporation
ReconArt, Inc.
SAP SE
SigmaIQ and Many More

Cloud segment is expected to experience significant growth in the coming years, owing to rise in adoption of cloud reconciliation software across various retailers for protecting their sensitive data.

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By reconciliation type, the U.S. retail recon software market was led by the account reconciliation segment in 2019 and is projected to maintain its dominance during the forecast period. Account reconciliation helps in identifying and quantifying the risks associated with their business so that they can be detected and avoided which is the major factor driving the growth of the market. However, the payment reconciliation segment is expected to grow at the highest rate during the forecast period, owing to the rise in adoption of this software by various small and medium size retailers.

The transaction matching segment is expected to garner a significant share during the forecast period. Surge in need to identify high-risk transaction activities and increase in need to protect transactional data boost the market growth in this segment. However, the SMRs segment is expected to grow at the highest rate during the forecast period, owing to various benefits provided by reporting & analytic software such as enabling better strategic decision-making, reducing inventory cost, enhancing profitability, and enabling organizations to improve their market position are expected to drive of the U.S. retail recon software market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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