Global Online Bookkeeping And Accounting Software Industry Outlook 2025-2029: Market Set to Cross $6.99 Billion Milestone

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How Large Will the Online Bookkeeping And Accounting Software Market Size By 2025?
The market size of internet-based bookkeeping and accounting software has experienced swift growth in the previous years. The market, which was valued at $3.97 billion in 2024, is projected to increase to $4.46 billion in 2025, with a compound annual growth rate (CAGR) of 12.5%. This substantial increase in the past period can be traced back to the need for efficient operations, global expansion, modifications in regulatory requirements, demand for mobile-compatible accounting software, inventory administration, and customer relationship management.

How Big Is the Online Bookkeeping And Accounting Software Market Size Expected to Grow by 2029?
Predictions indicate a swift expansion in the market size of online bookkeeping and accounting software, projected to reach $6.99 billion by 2029, escalating at a Compound Annual Growth Rate (CAGR) of 11.9%. The surge during the forecast period is attributed to the heightened focus on user experience, increasing utilization of predictive analytics, security considerations, rising need for sophisticated reporting and analytics, and regulatory necessities which include advanced collaboration tools. Noteworthy trends during the forecast period incorporate artificial intelligence and automation technologies, use of machine learning algorithms, employment of blockchain technology, real-time financial reports, IoT device integration, and adaptable and scalable solutions.

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Which Key Market Drivers Powering Online Bookkeeping And Accounting Software Market Expansion and Growth?
The proliferation of automation in accounting is anticipated to bolster the expansion of the online bookkeeping and accounting software market in the future. Accounting automation entails using software programs to conduct critical tasks in keeping a company's financial books. The increase in accounting automation is spurred by the demand for efficiency, precision, and streamlined procedures, ultimately reducing the need for manual work and minimizing human mistakes. Accounting automation employs online bookkeeping and accounting software to make processes more efficient, improve data reliability, and support real-time financial management. For example, in June 2022, a survey by Sage Group plc, a UK-based enterprise software firm, found that 40% of surveyed companies have started using new technology to aid in the end-of-year processes in 2022, a noticeable jump from 21% in 2021. Furthermore, 87% of those surveyed are utilizing a cloud-based or hybrid accounting solution, reflecting a noteworthy 29% leap from the preceding year. Consequently, the rise in accounting automation is propelling the online bookkeeping and accounting software market forward.

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Which Fast-Growing Trends Are Poised to Disrupt the Online Bookkeeping And Accounting Software Market?
Leading companies engaged in the online accounting and bookkeeping software market are keen on devising innovative solutions like QuickBo*oks Online Accountant to cater to the changing demands of businesses. QuickBo*oks Online Accountant assists in simplifying financial operations, reducing mistakes, and provides businesses the liberty to concentrate on key activities. For example, Intuit Inc., an American firm specializing in financial software, introduced QuickB*ooks Online Accountant worldwide in May 2023. This granted free access to accounting professionals in more than 170 nations. The platform includes features like a single login and dashboard for instant client data, automated transactions, task automation workflows, integrated applications for different tasks, and predictive AI-based tax predictions.

What Are the Emerging Segments in the Online Bookkeeping And Accounting Software Market?
The online bookkeeping and accounting softwaremarket covered in this report is segmented -

1) By Type: Cloud-Based, On-Premises
2) By Pricing Model: Subscription-Based, Pay-As-You-Go
3) By Application: Small And Medium Enterprises (SMEs), Large Enterprises

Subsegments:
1) By Cloud-Based: Saas (Software-As-A-Service) Solutions, Subscription-Based Models, Cloud Hosting And Maintenance Services
2) By On-Premises: Licensed Software, Perpetual Licensing Models, On-Site Deployment And Support

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Who Are the Global Leaders in the Online Bookkeeping And Accounting Software Market?
Major companies operating in the online bookkeeping and accounting software market are NetSuite Inc., SAP SE, Intuit Inc., Workday Inc., Baker Tilly International Ltd., The Sage Group plc, Zoho Corporation, Epicor Software Corporation, Xero Limited, Workiva Inc., Kingdee International Software Group Limited, Ramp Business Corporation, Reckon Limited, The Neat Company, Botkeeper Inc., Wave Financial Inc., Dext, Hubdoc Inc., Pandle Accounting Software, TaxSlayer Pro LLC, LessAccounting LLC, Accountzontrack LLC, FreshBooks Inc., Cougar Mountain Software Inc., FreeAgent Central Limited, KashFlow Software Ltd.

Which are the Top Profitable Regional Markets for the Online Bookkeeping And Accounting Software Industry?
North America was the largest region in the online bookkeeping and accounting software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the online bookkeeping and accounting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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