Driving Forces Behind Adoption Of Cloud-Based General Ledger Accounting Software: A Key Driver Powering General Ledger Accounting Software Market Growth In 2025

The General Ledger Accounting Software Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current General Ledger Accounting Software Market Size and Its Estimated Growth Rate?
The market size of general ledger accounting software has experienced significant growth in the recent past. The size is set to increase from $6.45 billion in 2024 to $7.08 billion in 2025, showing a compound annual growth rate (CAGR) of 9.8%. The surge in growth during the historical period is primarily due to factors such as enhanced globalization, improved user experiences, heightened real-time reporting, customization, integration, and regulatory compliance.

The size of the general ledger accounting software market is predicted to see a robust increase in the coming years. The market is forecasted to expand to $10.14 billion in 2029, growing at a compound annual growth rate (CAGR) of 9.4%. The surge during the forecast period is credited to the rise in customer retention, enhanced pricing strategy, and increased customer acquisition. Key trends over the forecast period include models based on subscription pricing, business intelligence and data analytics, live reporting, improved security protocols, accessibility via mobile, and integration with automation and AI.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=14722

How Are Emerging Segments Shaping the General Ledger Accounting Software Market Landscape?
The general ledger accounting software market covered in this report is segmented -

1) By Product Or Type: On-Premises, Cloud-Based
2) By Pricing Model: One-Time License, Subscription-Based
3) By Application: Large Organizations, Small And Mid-size Organizations

Subsegments:
1) By On-premises: Single-User Solutions, Multi-User Solutions, Customizable On-Premises Solutions
2) By Cloud-based: Subscription-Based Solutions, Pay-Per-Use Solutions, Hybrid Cloud Solutions

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14722&type=smp

Which Growth Factors Are Influencing General Ledger Accounting Software Market Expansion?
The growth of the general ledger accounting software market is anticipated to gain momentum due to the rising integration of cloud-based solutions. These cloud-based solutions encompass applications, storage, services on demand, computer networks, and other resources made accessible through an internet connection, all under a provider's collective cloud computing infrastructure. The appeal of cloud-based solutions stems from the present-day digital economy's demand for adaptability, cost-effectiveness, accessibility, security, cooperation, and innovation. By moving general ledger accounting to the cloud, financial processes can be streamlined, accessibility and cooperation improved, security enhanced, and costs saved compared to traditional in-house solutions. For example, AAG IT, a UK-based IT service provider, reported in February 2024, that the revenue from Infrastructure as a Service (IaaS) public cloud service rose from $343 billion in 2021 to $415 billion in 2022. Therefore, the surge in the usage of cloud-based solutions is pushing the expansion of the general ledger accounting software market.

Who Are the Dominant Players Across Different General Ledger Accounting Software Market Segments?
Major companies operating in the general ledger accounting software market are Oracle Corporation, QuickBooks* Inc., SAP ERP Core Finance, Sage Group plc, Xero Limited, Infor Inc., Zoho Corporation Pvt. Ltd., Open Systems Accounting Software (OSAS), Multiview Financial Software, FinancialForce.com Inc., Soft Ledger Inc., Patriot Software LLC, Deskera ERP, ZipBooks Software Solutions Pvt. Ltd., Plooto Inc., Bench Accounting Inc., Abila MIP Fund Accounting, Acumatica Inc., Accounting Seed Inc., Technology Group International (TGI), AccuFund Inc., OneUp SAS, Wave Financial Inc., Trullion Ltd., Sage Fixed Assets

What Are the Latest Developing Trends in the General Ledger Accounting Software Market?
Significant players in the general ledger accounting software market are concentrating on creating innovative solutions, like AI-powered revenue recognition and audit modules, in an attempt to enhance accounting transparency. These AI-driven modules make use of artificial intelligence technologies to improve the precision, competence, and effectiveness of revenue recognition procedures and auditing functions in companies. For example, Trullion Ltd, a top accounting automation platform in the US, initiated AI-equipped audit modules in January 2023. These modules enable auditors to pull out ERP/General Ledger (GL) files and instantly authenticate them against their base data, like invoices, PDFs, and other client-originated sources. This module introduces a new workflow to accelerate the details testing within its audit automation solution suite.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/general-ledger-accounting-software-global-market-report

Which Geographic Regions Are Expected to Dominate the General Ledger Accounting Software Market in the Coming Years?
North America was the largest region in the general ledger accounting software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the general ledger accounting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the General Ledger Accounting Software Market?
2. What is the CAGR expected in the General Ledger Accounting Software Market?
3. What Are the Key Innovations Transforming the General Ledger Accounting Software Industry?
4. Which Region Is Leading the General Ledger Accounting Software Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.infoConnect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.