Global Accounting Software Industry Outlook 2023-2030 with Leading Companies, Market Dynamics and Trends

DUBLIN, Aug. 16, 2023 /PRNewswire/ -- The "Global Accounting Software Market by Type (Integrated, Standalone), Function (Accounts Payable, Accounts Receivable, Cash Flow Management), Organization Size, Deployment, Industry - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.

The Global Accounting Software Market size was estimated at USD 10.54 billion in 2022, USD 11.63 billion in 2023, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 9.89% to reach USD 22.43 billion by 2030.

The growing digitalization of financial operations and rising automation in accounting processes are resulting in increased deployment of accounting software in the end-use industries.

In addition, the convenience in the use and accessibility is leading to the adoption of mobile and app-based accounting software. However, data privacy and security issues may impede the adoption of accounting software by the end-use sectors.

Moreover, the advancements to assist accounts with cloud computing and the emergence of startups to provide efficiently managed financial operations are expected to create significant potential for the growth of the accounting software market worldwide.

Market Segmentation & Coverage:

This research report categorizes the Global Accounting Software Market in order to forecast the revenues and analyze trends in each of following sub-markets:

• Based on Type, the market is studied across Integrated and Standalone. The Integrated commanded largest market share of 62.46% in 2022, followed by Standalone.
• Based on Function, the market is studied across Accounts Payable, Accounts Receivable, Cash Flow Management, Cost Management, and Reporting & KPIs. The Reporting & KPIs commanded largest market share of 29.71% in 2022, followed by Accounts Payable.
• Based on Organization Size, the market is studied across Large Enterprise and Small & Medium Enterprise. The Large Enterprise commanded largest market share of 72.86% in 2022, followed by Small & Medium Enterprise.
• Based on Deployment, the market is studied across On-Cloud and On-Premise. The On-Cloud commanded largest market share of 73.63% in 2022, followed by On-Premise.
• Based on Industry, the market is studied across Aerospace & Defense, Automotive & Transport, Business & Finance, Chemicals & Materials, Consumer Goods & Services, Energy & Natural Resources, Food & Beverage, Government & Public Sector, Healthcare & Pharmaceuticals, Manufacturing & Construction, and Telecommunications & Computing. The Automotive & Transport commanded largest market share of 18.89% in 2022, followed by Telecommunications & Computing.
• Based on Region, the market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The Americas commanded largest market share of 39.12% in 2022, followed by Europe, Middle East & Africa.

The report provides insights on the following pointers:

1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Market Trends: Provides comprehensive understanding of the Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and the High Inflation
5. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
6. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:

1. What is the market size and forecast of the Global Accounting Software Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Global Accounting Software Market during the forecast period?
3. Which are the products/segments/applications/areas to invest in over the forecast period in the Global Accounting Software Market?
4. What is the competitive strategic window for opportunities in the Global Accounting Software Market?
5. What are the technology trends and regulatory frameworks in the Global Accounting Software Market?
6. What is the market share of the leading vendors in the Global Accounting Software Market?
7. What modes and strategic moves are considered suitable for entering the Global Accounting Software Market?

Market Dynamics

Drivers

• Growing digitalization of financial operations across various end-use industries
• Increasing trends of automation in accounting process
• Rise in the adoption of mobile and app-based accounting software among enterprises

Restraints

• Compatibility issues associated with accounting software

Opportunities

• Ongoing technological advancements to assist accountants with cloud computing and AI capabilities
• Increasing investments and the emergence of new startups

Challenges

• Security issues related to personal and business financial data

Companies Mentioned

• AccountMate Software Corporation
• Acumatica, Inc.
• Adyen
• Asana, Inc.
• Automatic Data Processing, Inc
• Bectran Inc.
• Dassault Systemes SE
• Deltek, Inc.
• Epicor Software Corporation
• Fiserv, Inc.
• Focus Softnet Pvt Ltd
• FreeAgent Central Ltd.
• FreshBooks
• Genesys Cloud Services, Inc.
• Indy.fr SAS
• Infor Inc.
• Intel Corporation
• International Business Machines Corporation
• Intuit Inc.
• Microsoft Corporation
• MYOB Group Pty Ltd.
• Nutanix, Inc.
• Oracle Corporation
• Paychex Inc.
• Priority Software Ltd.
• Quadient Group
• Reckon Ltd.
• Saasu Pty Ltd.
• Salesforce, Inc.
• SAP SE
• SAS N2JSoft
• ServiceNow, Inc.
• Syspro Proprietary Ltd.
• Tally Solutions Private Limited
• The MathWorks, Inc.
• The Sage Group PLC
• Unit4 Business Software Limited
• Xero Limited
• Yonyou Network Technology Co. Ltd.
• Zeta Software
• Zoho Corporation Pvt. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/ltkt16

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