SAN FRANCISCO, July 7, 2020 /PRNewswire/ -- The global Accounting Software Market has witnessed unprecedented growth over the past decade and is likely to expand further during the forecast period. Mid-sized to small businesses often face an overwhelming challenge while managing their customers, accounting systems, and finance. They advanced accounting solutions have proven to improve the workflow efficiency and they have the ability to manage account payables, receivables, and general ledger. Finance-related calculations are tedious and complex, which has implored businesses to purchase such software platforms to accurately simplify calculations without the use of human intervention. Considering the aforementioned factors, small to mid-sized businesses find it mandatory to deploy accounting software for effective resource management.
Owing to the building pressure on businesses, companies are looking forward to implement legally secure and straightforward programs to drive their accounting infrastructure management. Companies have realized that traditional systems lack technological competitiveness and this is creating significant opportunities for advanced software developments. These platforms are known to effectively benefit companies by providing insights to better analyze and understand their business. During the approaching period, the user-interface (UI) of accounting platforms are anticipated to be more engaging to meet customer requirements.
Market split by service type includes embedded accounting software packages, online solutions accounting software, and desktop non-embedded solutions accounting software. Application-based categorization consists of manufacturing, services, and retail. Based on the sales channel the global market has been bifurcated into direct channel and distribution channel.
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Based on geography, the accounting software market has been segmented into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America dominates the global market due to the huge demand for cloud computing to deliver real-time business visibility using customer dashboards and reports. The growth showcased in the North America region is majorly driven by the presence of some of the prominent industry giants in the United States.
Comprehensive analysis of the accounting software market players functioning in this industry have identified key contenders such as Intuit, Sage, SAP, Oracle (NetSuite), Microsoft, Infor, Epicor, Workday, Unit4, Xero, Yonyou, Kingdee, Acclivity, FreshBooks, Intacct, Assit cornerstone, Aplicor, Red wing, and Tally Solutions Pvt. Ltd. Companies have undertaken several expansion strategies such as partnerships, service improvements, and mergers & acquisitions of the smaller players. For instance, Infor acquired ReServe Interactive and Efficient Frontiers, Inc. in April 2019 to expand its presence in entertainment sectors, and stadiums & convention centers. Infor implemented ReServe's cloud-based platform to improve their accounting software functionalities.
This report provides detailed historical analysis of global market for Accounting Software from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Accounting Software market.
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- Leading players of Accounting Software including:
- Oracle (NetSuite)
- Assit cornerstone
- Red wing
- Tally Solutions Pvt. Ltd.
- Market split by Type, can be divided into:
- Embedded Accounting Software Packages
- Online Solutions Accounting Software
- Desktop Non-embedded Solutions Accounting Software
- Market split by Application, can be divided into:
- Market split by Sales Channel, can be divided into:
- Direct Channel
- Distribution Channel
- Market segment by Region/Country including:
- North America (United States, Canada and Mexico)
- Europe (Germany, UK, France, Italy, Russia and Spain etc.)
- Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
- South America Brazil, Argentina, Colombia and Chile etc.)
- Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
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