“Global Accounting Software Market is estimated to be worth USD 9.4 Billion in 2021 and is expected to reach USD 14.6 Billion by 2026, growing at a CAGR of 9.2%
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FEATURED COMPANIES
- 2ndSite Inc.
- Deltek
- Intuit Inc.
- NetSuite Inc.
- Paychex Inc.
- Wave Financial
- MORE
The Global Accounting Software Market is estimated to be worth USD 9.4 Billion in 2021 and is expected to reach USD 14.6 Billion by 2026, growing at a CAGR of 9.2%.
Increasing use of accounting software to reduce maintenance costs, increase security, better access, and easy updates are the major factors driving the market growth. The rising trend of accounting automation has helped accountants to minimize manual data entry, limit workflows, and make the entire accounting process easy, less time-consuming, and error-free. Furthermore, the complexity of tax, audit trails, and varying financial systems around the world and the need for real-time reports are rising the need for accounting automation. The companies and banks have invested in better software solutions for handling financial transactions such as payroll, general ledger, automated billing, and other solutions to increase productivity. These factors are anticipated to propel market growth. However, the high cost for implementation of software is hindering the market growth.
There are continuous innovations in technology and software to improve effectiveness and keep pace with accountant work. In addition, the small and mid-cap enterprises are adopting the accounting and Government initiatives in developing smart cities in developing countries is expected to create new opportunities for the accounting software market in the future.
The Global Accounting Software Market is segmented based on Deployment Type, Type, Application and Geography.
Some of the companies covered in this report are Oracle Corporation, Microsoft Corporation, Infor Inc., Epicor Software Corporation, NetSuite Inc., Xero Ltd., Zoho Corp. Pvt. Ltd., Intuit Inc. etc.
The report includes the 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.
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 within the industry.
The report includes an 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 Positioning Quadrants, the analyst's proprietary competitive positioning tool.
Market Dynamics
Increasing use of accounting software to reduce maintenance costs, increase security, better access, and easy updates are the major factors driving the market growth. The rising trend of accounting automation has helped accountants to minimize manual data entry, limit workflows, and make the entire accounting process easy, less time-consuming, and error-free. Furthermore, the complexity of tax, audit trails, and varying financial systems around the world and the need for real-time reports are rising the need for accounting automation. The companies and banks have invested in better software solutions for handling financial transactions such as payroll, general ledger, automated billing, and other solutions to increase productivity. These factors are anticipated to propel market growth. However, the high cost for implementation of software is hindering the market growth.
There are continuous innovations in technology and software to improve effectiveness and keep pace with accountant work. In addition, the small and mid-cap enterprises are adopting the accounting and Government initiatives in developing smart cities in developing countries is expected to create new opportunities for the accounting software market in the future.
Market Segmentation
The Global Accounting Software Market is segmented based on Deployment Type, Type, Application and Geography.
- By Deployment Type, the market is classified as On-premise and cloud-based. Amongst all, the on-premise segment is estimated to hold the highest market share during the forecast period.
- By Type, the market is classified as billing/ invoicing software, payroll management software, ERP software, and others. Amongst all, the billing/ invoicing software segment is estimated to hold the highest market share during the forecast period.
- By Application, the market is classified as corporate, public, Government, and forensic accounting. Amongst all, the corporate segment is estimated to hold the highest market share during the forecast period.
- By Geography, North America is projected to lead the market.
Recent Developments
- Intuit acquired Credit Karma. The Companies Will Provide a Personal Financial Assistant to Power Prosperity. - 03rd December 2020.
- HostBooks Accounting Software Company has launched its mobile app to help small businesses with payroll integration and other services. - 5th March 2020.
Company Profiles
Some of the companies covered in this report are Oracle Corporation, Microsoft Corporation, Infor Inc., Epicor Software Corporation, NetSuite Inc., Xero Ltd., Zoho Corp. Pvt. Ltd., Intuit Inc. etc.
Competitive Quadrant
The report includes the 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 within the industry.
The report includes an 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 Positioning Quadrants, 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
Note: Product cover images may vary from those shown
FEATURED COMPANIES
- 2ndSite Inc.
- Deltek
- Intuit Inc.
- NetSuite Inc.
- Paychex Inc.
- Wave Financial
- MORE
1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Increasing Accounting Automation Trend
4.2.1.2 Rising Need of Transparent Financial Statements
4.2.1.3 Outsourcing of Accounting System
4.2.2 Restraints
4.2.2.1 High Investment Cost
4.2.2.2 Continuous Software Update
4.2.3 Opportunities
4.2.3.1 Government Initiatives in Accounting Automation
4.2.3.2 Advance Software Updates
4.2.4 Challenges
4.2.4.1 Dearth of Skilled Professionals
4.2.4.2 Privacy Risk
4.3 Trends
5 Market Analysis
5.1 Porter’s Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Accounting Software Market, By Deployment Type
6.1 Introduction
6.2 On- Premises
6.2.1 Database Accounting Software
6.2.2 Installed Accounting Software
6.3 Cloud-Based
7 Global Accounting Software Market, By Type
7.1 Introduction
7.2 Billing/ Invoicing Software
7.3 Payroll Management Software
7.4 ERP Software
7.5 Others
8 Global Accounting Software Market, By Application
8.1 Introduction
8.2 Corporate
8.3 Public
8.4 Government
8.5 Forensic Accounting
9 Global Accounting Software Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 South America
9.3.1 Brazil
9.3.2 Argentina
9.4 Europe
9.4.1 UK
9.4.2 France
9.4.3 Germany
9.4.4 Italy
9.4.5 Spain
9.4.6 Rest of Europe
9.5 Asia-Pacific
9.5.1 China
9.5.2 Japan
9.5.3 India
9.5.4 Indonesia
9.5.5 Malaysia
9.5.6 South Korea
9.5.7 Australia
9.5.8 Russia
9.5.9 Rest of APAC
9.6 Rest of the World
9.6.1 Qatar
9.6.2 Saudi Arabia
9.6.3 South Africa
9.6.4 United Arab Emirates
9.6.5 Latin America
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 Mergers & Acquisitions
10.3.2 Agreement, Collaborations, & Partnerships
10.3.3 New Product Launches & Enhancements
10.3.4 Investments & Funding
11 Company Profiles
11.1 2ndSite Inc.
11.2 Accounting Seed, Inc.
11.3 Crunch
11.4 Deltek
11.5 Epicor Software Corporation
11.6 FinancialForce
11.7 Infor Inc.
11.8 Intuit Inc.
11.9 Microsoft Corporation
11.10 MYOB Group Pty Ltd
11.11 NetSuite Inc.
11.12 Odoo SA
11.13 Oracale Corporation
11.14 Paychex Inc.
11.15 Sage Software Inc.
11.16 SAP SE
11.17 Wave Financial
11.18 Xero Ltd.
11.19 ZarMoney Corporation.
11.20 Zoho Corp. Pvt. Ltd.
12 Appendix
12.1 Questionnaire
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.3 Market Size Estimation
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Increasing Accounting Automation Trend
4.2.1.2 Rising Need of Transparent Financial Statements
4.2.1.3 Outsourcing of Accounting System
4.2.2 Restraints
4.2.2.1 High Investment Cost
4.2.2.2 Continuous Software Update
4.2.3 Opportunities
4.2.3.1 Government Initiatives in Accounting Automation
4.2.3.2 Advance Software Updates
4.2.4 Challenges
4.2.4.1 Dearth of Skilled Professionals
4.2.4.2 Privacy Risk
4.3 Trends
5 Market Analysis
5.1 Porter’s Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Accounting Software Market, By Deployment Type
6.1 Introduction
6.2 On- Premises
6.2.1 Database Accounting Software
6.2.2 Installed Accounting Software
6.3 Cloud-Based
7 Global Accounting Software Market, By Type
7.1 Introduction
7.2 Billing/ Invoicing Software
7.3 Payroll Management Software
7.4 ERP Software
7.5 Others
8 Global Accounting Software Market, By Application
8.1 Introduction
8.2 Corporate
8.3 Public
8.4 Government
8.5 Forensic Accounting
9 Global Accounting Software Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 South America
9.3.1 Brazil
9.3.2 Argentina
9.4 Europe
9.4.1 UK
9.4.2 France
9.4.3 Germany
9.4.4 Italy
9.4.5 Spain
9.4.6 Rest of Europe
9.5 Asia-Pacific
9.5.1 China
9.5.2 Japan
9.5.3 India
9.5.4 Indonesia
9.5.5 Malaysia
9.5.6 South Korea
9.5.7 Australia
9.5.8 Russia
9.5.9 Rest of APAC
9.6 Rest of the World
9.6.1 Qatar
9.6.2 Saudi Arabia
9.6.3 South Africa
9.6.4 United Arab Emirates
9.6.5 Latin America
10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 Mergers & Acquisitions
10.3.2 Agreement, Collaborations, & Partnerships
10.3.3 New Product Launches & Enhancements
10.3.4 Investments & Funding
11 Company Profiles
11.1 2ndSite Inc.
11.2 Accounting Seed, Inc.
11.3 Crunch
11.4 Deltek
11.5 Epicor Software Corporation
11.6 FinancialForce
11.7 Infor Inc.
11.8 Intuit Inc.
11.9 Microsoft Corporation
11.10 MYOB Group Pty Ltd
11.11 NetSuite Inc.
11.12 Odoo SA
11.13 Oracale Corporation
11.14 Paychex Inc.
11.15 Sage Software Inc.
11.16 SAP SE
11.17 Wave Financial
11.18 Xero Ltd.
11.19 ZarMoney Corporation.
11.20 Zoho Corp. Pvt. Ltd.
12 Appendix
12.1 Questionnaire
Note: Product cover images may vary from those shown
- 2ndSite Inc.
- Accounting See. Inc.
- Crunch
- Deltek
- Epicor Software Corporation
- FinancialForce
- Infor Inc.
- Intuit Inc.
- Microsoft Corporation
- MYOB Group Pty Ltd
- NetSuite Inc.
- Odoo SA
- Oracale Corporation
- Paychex Inc.
- Sage Software Inc.
- SAP SE
- Wave Financial
- Xero Ltd.
- ZarMoney Corporation.
- Zoho Corp. Pvt. Ltd.
Note: Product cover images may vary from those shown
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