Emerging General Ledger Accounting Software Market Trends: Leading Companies Innovating In General Ledger Accounting Software With AI-Enabled Revenue Recognition And Audit Modules Shaping the Future of the Industry

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General Ledger Accounting Software Market Size Growth Forecast: What to Expect by 2025?
The market size of the general ledger accounting software has seen substantial growth in recent years. It is predicted to expand from $6.45 billion in 2024 to $7.08 billion in 2025, with a compound annual growth rate (CAGR) of 9.8%. Factors such as enhanced globalization, improved user experience, growth in real-time reporting, customization, integration, and regulatory compliance have contributed to its growth during the historic period.

How Will the General Ledger Accounting Software Market Size Evolve and Grow by 2029?
The market for general ledger accounting software is projected to witness substantial expansion in the coming years, with its size expected to reach $10.14 billion in 2029, growing at a compound annual growth rate (CAGR) of 9.4%. This escalated growth during the forecast period can be credited to factors like improved customer retention, strategic pricing increases, and amplified customer acquisition. Key trends to watch out for during the forecast period encompass subscription-based pricing models, the application of data analytics and business intelligence, real-time reporting, enhanced security protocols, mobile accessibility, and incorporation of AI and automation.

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What Drivers Are Propelling the Growth of General Ledger Accounting Software Market Forward?
The surge in the use of cloud-based solutions is anticipated to fuel the expansion of the general ledger accounting software market. Cloud-based solutions encompass applications, storage, request-based services, computer networks, or other resources that can be accessed via an internet link through another provider's shared cloud computing infrastructure. The rising utilization of such solutions is motivated by the demand for agility, cost-effectiveness, accessibility, security, collaboration, and innovation in the current digital economy. By streamlining financial procedures, fostering accessibility and collaboration, enhancing security, and providing cost benefits as compared to conventional on-premises solutions, cloud-based general ledger accounting software proves to be advantageous. For instance, AAG IT, a UK-based IT services firm, reported in February 2024 that Infrastructure as a Service (IaaS) public cloud service revenue saw a rise from $343 billion in 2021 to $415 billion in 2022. Hence, the swelling acceptance of cloud-based solutions is enhancing the growth of the general ledger accounting software market.

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Which Emerging Trends Are Transforming the General Ledger Accounting Software Market in 2025?
Prominent firms in the general ledger accounting software market are emphasizing on the creation of innovative tools, like AI-powered revenue recognition and audit modules, to enable unprecedented accounting transparency. These AI-powered modules are software applications that utilize artificial intelligence methods to improve the precision, efficiency, and effectiveness of auditing tasks and revenue recognition procedures within organizations. For instance, US-based Trullion Ltd., a major player in the accounting automation sphere, unveiled AI-enhanced audit modules in January 2023. These modules enable auditors to take ERP/General Ledger (GL) files and immediately verify them against their original data, such as invoices, PDFs, and other client sources. The module introduces a quicker way to verify the details within its range of audit automation solutions.

What Are the Key Segments in the General Ledger Accounting Software Market?
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

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Who Are the Key Players Shaping the General Ledger Accounting Software Market's Competitive Landscape?
Major companies operating in the general ledger accounting software market are Oracle Corporation, QuickBook*s 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 Geographic Markets Are Powering Growth in the General Ledger Accounting Software Market?
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.

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