Accounting Software Market Share, Growth Factors, Comprehensive Research, Analysis by Leading Companies with Forecast till 2030

Market Synopsis

As per the analysis by Market Research Future Reports (MRFR), the global accounting software market Size is estimated to record a CAGR of  9.2% and value USD 29.80 billion during the forecast period from 2022 to 2030. 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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Key Players

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.

Market Segmentation

The global accounting software market can be segregated on the basis of deployment, organization size, industry, and region.

On the basis of deployment, the global accounting software market can be classified into cloud-based and On-premise.

On the basis of organization size, the global accounting software market can be classified into small and medium enterprises and large enterprises.

On the basis of industry, the global accounting software market can be classified into Retail & E-commerce, IT & Telecommunication, BFSI, Manufacturing, Healthcare, and Others.

On the basis of 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.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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