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Accounting Software - Global Strategic Business Report

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    Report

  • 262 Pages
  • October 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5030539
The global market for Accounting Software was estimated at US$8.1 Billion in 2023 and is projected to reach US$13.4 Billion by 2030, growing at a CAGR of 7.4% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

How Is Accounting Software Transforming Financial Management?

Accounting software has revolutionized financial management for businesses of all sizes, automating complex tasks such as bookkeeping, invoicing, payroll, and financial reporting. These tools provide businesses with a comprehensive view of their financial health, enabling better decision-making and more efficient operations. Traditional manual accounting processes, which were prone to errors and time-consuming, have been replaced by software solutions that offer accuracy, speed, and real-time insights. Cloud-based accounting platforms, in particular, have seen widespread adoption, allowing users to access financial data anytime, anywhere. This technology has transformed how companies manage cash flow, track expenses, and ensure compliance with tax regulations, making accounting software an essential tool for modern businesses.

How Are SMEs Driving Demand for Accounting Software?

Small and medium-sized enterprises (SMEs) are driving much of the demand for accounting software as they seek to streamline operations and reduce costs. SMEs face increasing pressure to maintain accurate financial records while managing limited resources, and accounting software provides an affordable, scalable solution. Cloud-based platforms, which offer subscription-based pricing, have made accounting software more accessible to smaller businesses that cannot afford expensive, traditional systems. These tools help SMEs automate critical tasks such as invoicing, tax filing, and financial reporting, reducing the need for full-time accounting staff. As more SMEs adopt digital tools to improve efficiency and compliance, the demand for user-friendly, cost-effective accounting software continues to grow.

How Are Technological Advancements Enhancing Accounting Software Capabilities?

Technological advancements are continuously enhancing the capabilities of accounting software, making it more powerful, secure, and user-friendly. Automation and artificial intelligence (AI) are being integrated into modern accounting systems, enabling predictive analytics, fraud detection, and automatic data entry. Machine learning algorithms can identify patterns and trends within financial data, helping businesses forecast cash flow and detect anomalies. Cloud-based platforms also provide enhanced security features, including encryption and multi-factor authentication, ensuring that sensitive financial data is protected. Furthermore, the integration of accounting software with other business management tools, such as customer relationship management (CRM) and enterprise resource planning (ERP) systems, is creating seamless workflows and improving operational efficiency.

What Is Driving Growth in the Accounting Software Market?

The growth in the accounting software market is driven by several factors, including the increasing demand for automation in financial processes, the rising adoption of cloud-based solutions, and the growing focus on regulatory compliance. Businesses of all sizes are seeking ways to streamline financial management and reduce errors, driving the adoption of automated accounting software. The shift towards cloud-based platforms is also a significant growth driver, as these solutions offer flexibility, scalability, and remote access, appealing to a wide range of businesses. Additionally, increasing regulatory requirements for financial reporting and tax compliance are prompting businesses to invest in software solutions that ensure accuracy and adherence to legal standards. These trends are fueling the expansion of the global accounting software market.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the Software As Service (SaaS) Deployment segment, which is expected to reach US$6.5 Billion by 2030 with a CAGR of a 8.1%. The On-Premise Deployment segment is also set to grow at 6.7% CAGR over the analysis period.
  • Regional Analysis: Gain insights into the U.S. market, which was valued at $2.1 Billion in 2023, and China, forecasted to grow at an impressive 11.2% CAGR to reach $3.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Accounting Software Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Accounting Software Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Accounting Software Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as AccountMate Software Corporation, Acumatica, Inc., Epicor Software Corporation, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 173 Featured):

  • AccountMate Software Corporation
  • Acumatica, Inc.
  • Epicor Software Corporation
  • Infor Inc.
  • Intuit Inc.
  • Microsoft Corporation
  • Mri Software LLC
  • Oracle (NetSuite)
  • Red Wing Software, Inc.
  • Sage Group Plc
  • SAP SE
  • Workday, Inc.
  • Xeros Ltd.
  • Zeta Software LLC
  • Zoho Corporation Pvt. Ltd.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of COVID-19 and a Looming Global Recession
  • Accounting Software - Global Key Competitors Percentage Market Share in 2024 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Rising Demand for Cloud-Based Accounting Solutions
  • Growth in Automation and AI Integration in Financial Processes
  • Increasing Adoption of Accounting Software in SMEs and Startups
  • Impact of Regulatory Compliance and Taxation Requirements
  • Expansion of Mobile Accounting Applications and Remote Access
  • Technological Advancements in Data Security and Privacy
  • Growing Demand for Customizable and Scalable Software Solutions
  • Rising Focus on Streamlined Reporting and Real-Time Financial Insights
  • Impact of Digital Transformation in the Finance and Accounting Sector
  • Increasing Integration with Business Analytics and ERP Systems
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Accounting Software Market Analysis of Annual Sales in US$ Million for Years 2014 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Accounting Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 3: World Historic Review for Accounting Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 4: World 16-Year Perspective for Accounting Software by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2024 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Software As Service (SaaS) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 6: World Historic Review for Software As Service (SaaS) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 7: World 16-Year Perspective for Software As Service (SaaS) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for On-Premise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 9: World Historic Review for On-Premise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 10: World 16-Year Perspective for On-Premise by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Hybrid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 12: World Historic Review for Hybrid by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 13: World 16-Year Perspective for Hybrid by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Commercial Off-The-Shelf by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 15: World Historic Review for Commercial Off-The-Shelf by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 16: World 16-Year Perspective for Commercial Off-The-Shelf by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Enterprise Accounting Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 18: World Historic Review for Enterprise Accounting Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 19: World 16-Year Perspective for Enterprise Accounting Software by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Custom Accounting Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 21: World Historic Review for Custom Accounting Software by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 22: World 16-Year Perspective for Custom Accounting Software by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 23: World Recent Past, Current & Future Analysis for Reconciliation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 24: World Historic Review for Reconciliation by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 25: World 16-Year Perspective for Reconciliation by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 26: World Recent Past, Current & Future Analysis for Tax Management by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 27: World Historic Review for Tax Management by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 28: World 16-Year Perspective for Tax Management by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 29: World Recent Past, Current & Future Analysis for Large Enterprise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 30: World Historic Review for Large Enterprise by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 31: World 16-Year Perspective for Large Enterprise by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 32: World Recent Past, Current & Future Analysis for Small by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 33: World Historic Review for Small by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 34: World 16-Year Perspective for Small by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 35: World Recent Past, Current & Future Analysis for Medium by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 36: World Historic Review for Medium by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 37: World 16-Year Perspective for Medium by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 38: World Recent Past, Current & Future Analysis for Banking, Financial Services, and Insurance (BFSI) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 39: World Historic Review for Banking, Financial Services, and Insurance (BFSI) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 40: World 16-Year Perspective for Banking, Financial Services, and Insurance (BFSI) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 41: World Recent Past, Current & Future Analysis for Telecom and Information Technology (IT) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 42: World Historic Review for Telecom and Information Technology (IT) by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 43: World 16-Year Perspective for Telecom and Information Technology (IT) by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 44: World Recent Past, Current & Future Analysis for Manufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 45: World Historic Review for Manufacturing by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 46: World 16-Year Perspective for Manufacturing by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 47: World Recent Past, Current & Future Analysis for Construction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 48: World Historic Review for Construction by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 49: World 16-Year Perspective for Construction by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 50: World Recent Past, Current & Future Analysis for Wholesale Distribution by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 51: World Historic Review for Wholesale Distribution by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 52: World 16-Year Perspective for Wholesale Distribution by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
  • Table 53: World Recent Past, Current & Future Analysis for Other End-Use Industries by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2023 through 2030 and % CAGR
  • Table 54: World Historic Review for Other End-Use Industries by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2014 through 2022 and % CAGR
  • Table 55: World 16-Year Perspective for Other End-Use Industries by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2024 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
CANADA
JAPAN
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
CHINA
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
EUROPE
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
FRANCE
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
GERMANY
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
ITALY
UNITED KINGDOM
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
AUSTRALIA
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Accounting Software Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • AccountMate Software Corporation
  • Acumatica, Inc.
  • Epicor Software Corporation
  • Infor Inc.
  • Intuit Inc.
  • Microsoft Corporation
  • Mri Software LLC
  • Oracle (NetSuite)
  • Red Wing Software, Inc.
  • Sage Group Plc
  • SAP SE
  • Workday, Inc.
  • Xeros Ltd.
  • Zeta Software LLC
  • Zoho Corporation Pvt. Ltd.

Table Information