Accounting And Budgeting Software Market on Track for Strong Growth, Estimated to Grow at 12.8% CAGR Through 2029

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What Is the Expected CAGR for the Accounting And Budgeting Software Market Through 2025?
The market size for accounting and budgeting software has seen fast paced growth in the last few years. In 2024, it was valued at $24.01 billion and is predicted to rise to $26.64 billion in 2025, showing a compound annual growth rate (CAGR) of 11.0%. The considerable growth in the historical period is credited to the digitalization of accounting processes, the necessity for regulatory compliance, cost cutting initiatives, as well as market competition.

What's the Projected Size of the Global Accounting And Budgeting Software Market by 2029?
We anticipate a swift expansion in the accounting and budgeting software market over the coming years, with projections suggesting it will reach a market size of $43.07 billion by 2029, growing at a compound annual growth rate (CAGR) of 12.8%. This growth during the forecast period can be credited to factors such as the adoption of cloud computing, automation and AI integration, increasing remote work, globalization and scalability, and concerns over cybersecurity. Key trends to watch during this period comprise mobile accounting applications, data analytics, predictive insights, e-commerce platform integration, user-centric design, and sustainability reporting.

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Top Growth Drivers in the Accounting And Budgeting Software Industry: What's Accelerating the Market?
The surge in newly established and growing businesses, known as startups, is projected to boost the expansion of the accounting and budgeting software market. This kind of software is designed to aid startups in managing their finances, tracking costs, optimizing budgets, and offering vital real-time data that plays a pivotal role in informed decision-making during their initial stages of growth and development. For instance, the Center for Entrepreneurs' 2022 business startup index report confirmed that in April 2023, the UK experienced an unprecedented increase in new enterprise registration, marking a 4.53% rise from 2021 and resulting in 790,390 startup registrations in 2022. Hence, the rise in startups' number is a key driver of the accounting and budgeting software market's growth.

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Which Emerging Trends Are Transforming the Accounting And Budgeting Software Market in 2025?
A leading trend emerging in the accounting and budgeting software market is the innovation of accounting tracking tools. Established companies in this sector are launching novel management tools for accounting tracking in order to fulfil unique needs and maintain their market dominance. To illustrate, in June 2023 Ledgible, an American company specializing in audit and accounting software, debuted its NFT Suite. This new product provides dedicated management, tax and accounting tracking, reporting and planning for NFT portfolios. It is a comprehensive portfolio tracking solution, ideal for active traders, investors and funds, allowing convenient access to NFT portfolios on the Ethereum platform. The system records and displays both realized and unrealized profits or losses, facilitating knowledgeable purchasing and selling choices.

What Are the Main Segments in the Accounting And Budgeting Software Market?
The accounting and budgeting softwaremarket covered in this report is segmented -

1) By Type: Accounting Software, Budgeting Software
2) By Deployment Type: On-Premise, Software As A Service (SaaS)
3) By Enterprise Size: Large Enterprises, Small And Medium Sized Enterprises
4) By Application: Personal Money Management, Business Money Management
5) By Industry Vertical: Information Technology(IT) And Telecom, Healthcare, Government And Public Sector, Energy And Utilities, Banking, Financial Services And Insurance (BFSI), Retail And Ecommerce, Manufacturing, Other Industry Verticals

Subsegments:
1) By Accounting Software: Small Business Accounting Software, Enterprise Accounting Software, Cloud-Based Accounting Solutions, On-Premise Accounting Solutions
2) By Budgeting Software: Corporate Budgeting Software, Personal Budgeting Software, Budget Forecasting Tools, Collaborative Budgeting Solutions

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Which Top Companies are Driving Growth in the Accounting And Budgeting Software Market?
Major companies operating in the accounting and budgeting software market include Microsoft Corporation, Prophix Software Inc., Oracle Corporation, SAP SE, Intuit Inc., Wolters Kluwer N.V., Blackbaud Inc., Zoho Corporation Private Limited, Deltek Inc., Xero Limited., NetSuite Inc, Coupa Software Inc., Odoo, Sage Group plc, Adaptive Inc., Expensify Inc., Planful Inc., Acumatica Inc., Wave Financial Inc., FreshBooks, Workday Adaptive Planning, Chargebee Inc., Scoro Software, FreeAgent, Questica, AccountMate Software Corporation, MIP Fund Accounting, 2ndSite Inc., Kashoo, TimeCamp Inc.

Which Regions Will Dominate the Accounting And Budgeting Software Market Through 2029?
North America was the dominant region in the accounting and budgeting software market in 2024. The regions covered in the accounting and budgeting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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