Global Accounting Software Market (2021-2026) by Installation Type, Enterprise, Type, End-user, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis

The Global Accounting Software Market is estimated to be USD 13.5 Bn in 2021 and is expected to reach USD 20.3 Bn by 2026, growing at a CAGR of 8.6%.





Market Dynamics

Key factors such as the need for real-time reporting and tracking and automating routine accounting practices have led to the growth of the accounting software market. Another driving factor is the increasing popularity of paperless transactions which is further enhancing the scope for this market. Similarly, the rise in customized software with a focus on financial analysis and strategic planning is further accelerating the growth of the market.

However, data security issues followed by the implementation costs and maintenance costs are the major factors hindering the growth of the market.

Market Segmentation

The Global Accounting Software Market is segmented further based on Installation Type, Enterprise, Type, End-User, and Geography.

By Component, the market is classified as Software and Services. Amongst all, the software segment is estimated to hold the highest market share.

By Enterprise, the market is classified as Large, Small and medium-size business. Amongst all, the Large Enterprise is estimated to hold the highest market share during the forecast period.

By Type, the market is classified as Spreadsheets, ERP, Custom Accounting Software, and Tax Management Software. Amongst all ERP segment holds the highest market share.

By End-User, the market is classified as Banking Financial Services and Insurance (BFSI), IT and Telecommunication, Government and Public Sector, Automotive, Retail and Consumer Goods, Oil and Gas, Manufacturing, Healthcare, Construction and Real Estate, and Others (Education, Media & Entertainment, etc.). Amongst all, the BFSI segment is estimated to hold the highest market share.

By Geography, North America is projected to lead the market.

Recent Developments
1. Oracle announced the launch of Oracle Monetization Cloud. The new cloud service enabling the full life cycle of customer onboarding, creating offers, robust rating and discounting, billing, customized invoicing and reporting. - 12th November 2019
2. EasemyGST and Microsoft India announced a strategic alliance to build a cloud-based comprehensive GST compliance platform - EasemyGST that integrates with ERP, accounting systems, and spreadsheets for the launch of GST compliance solutions. - 25th May 2017

Company Profiles

Some of the companies covered in this report are SAP SE, Oracle Corporation, Microsoft Corporation, Infor Inc., EY (Ernst & Young Global Limited), Zeta Software LLC., etc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Accounting Software Market.
• The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
• The report also contains the competitive analysis using Competitive Quadrant, the analyst's proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry.
• Important market dynamics and trends.
• Market segmentation.
• Historical, current, and projected size of the market based on value and volume.
• Market shares and strategies of key players.
• Recommendations to companies for strengthening their foothold in the market.