Accounting Software Market Companies, As Per MRFR Study Assessment Period by Regions, Demand and Developments Emerging Yields New Opportunities -2027
Market
Scenario:
As per the analysis
by Market Research Future Reports (MRFR), the Accounting Software Market Companies is estimated to record a CAGR of 8.92% and value USD 26,600
million during the forecast period from 2018 to 2024. The increased demand for
real time computing of applications is one of the most important factors
driving the global accounting software market 2020. Besides, there has been an
increasing adoption of database management systems, which plays a vital role in
expanding the market. Also, there has been a rise in demand for business
intelligence and analytics, which has propelled the global market. Another
major factor that elevates the demand the increasing trend of big data
analytics, analytics, and cloud computing.
Moreover, the rise
in demand for an advanced accounting solution, automated solution, and the fast
adoption of cloud-based accounting software are augmenting the presence of a
market. On the other hand, the established key players like Oracle Corporation,
IBM Corporation, and Microsoft Corporation are making significant investments
into the software market owing to the increasing demand from several verticals
like manufacturing, BFSI, healthcare, IT & Telecommunication among others.
This is another factor which is intensifying the market. Furthermore, several
opportunities are emerging from the amalgamation of artificial intelligence with
accounting and mobile-based accounting software. However, the concerns
regarding data security, expenses related to accounting software are the
factors that impede the growth of the accounting software market.
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The forefront players of the global accounting software market are
SAP, Intuit Inc., Sage, Oracle, Xero Limited, Microsoft, Kingdee
Internation Software Group (HK) Ltd. Priority Software, Assist Cornerstone,
FreshBooks, Epicor, Tally Solutions Private Limited, yonyou (Hong Kong)
co., Ltd., Infor, Unit4, Workday, and few others. Intuit Inc., Sage, SAP,
Oracle, Microsoft, and Xero Ltd. is the top best-established companies
in the global accounting software market.
Segmentation:
The global accounting software
market can be segregated based on deployment, organization size, industry, and
region.
Based on deployment, the global
accounting software market can be classified into cloud-based
and On-premise.
Based on organization size, the
global accounting software market can be classified into small and medium
enterprises and large enterprises.
Based on industry, the global
accounting software market can be classified into Retail
& E-commerce, IT &
Telecommunication, BFSI, Manufacturing, Healthcare, and Others.
Based on region, the global
accounting software market can be classified into Europe, North America, and
Asia-Pacific.
Regional
Analysis:
The regional analysis of Europe, North America, and Asia-Pacific
has been conducted. As per the analysis by MRFR, the North American region
acquires the largest market share for the accounting software market. The
region consists of the established key players who are technically developed.
Besides, the presence of high-growth industry sectors such as healthcare, information technology, manufacturing, and
e-commerce and retail plays an important role in propelling the market.
The growth in the North American region is primarily dominated by the US and
Canada. The expansion of the market can be attributed to the rising demand for
cloud computing applications in the region. On the other hand, the Asia-Pacific
region is likely to grow at the fastest rate during the review period. The APAC
region consists of the fastest developing economies like India and China, who
are adopting the latest technologies at a swift pace.
Industry News
The global Accounting Software
Market Trends has been affected due to the lockdown across the regions. This
pandemic situation has hampered the Accounting Software Market Growth as well
as its productivity, supply chain, and others. Moreover, the global market has
lost its investors due to the increasing loss for the products, supply,
transportation, workforce, and others. However, in the meantime, the key market
players have implied various strategic techniques to boost global market
growth. Thus, to meet the global market demands, the global market increased
its speed in producing more valuable products for its intended customers.
Recently, the global market has stabilized its position in the global market
and is expected to register a higher Accounting Software Market Size for the
forecast period.
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Table of Contents:
1 Executive
Summary
2 Scope
of the Report
2.1 Market
Definition
2.2 Scope of the
Study
2.2.1 Research
objectives
2.2.2 Assumptions
& Limitations
2.3 Markets Structure
3 Market
Research Methodology
3.1 Research
Process
3.2 Secondary
Research
3.3 Primary
Research
3.4 Forecast
Model
Continued….
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