Accounting Software Global Market Report 2023

Description

“Accounting Software Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on accounting software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for accounting software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The accounting software market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Component: Solution; Services

2) By Type: Spreadsheets; Commercial Accounting Software; Enterprise Accounting Software; Custom Accounting Software

3) By Deployment Mode: On-Premise; Cloud

4) By Enterprise Size: Large Enterprises; SMEs

5) By Industry Vertical: BFSI; Retail and Ecommerce; Manufacturing; IT and Telecom; Healthcare; Government and Public Sector; Energy and Utilities; Media and Entertainment; Other Verticals

Companies Mentioned: Intuit Inc; Sage Software Inc; SAP SE; Oracle Corporation; Microsoft Corporation

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the accounting software market are: Intuit Inc., Sage Software Inc., SAP SE, Oracle Corporation, Microsoft Corporation, Infor Inc., Epicor Software Corporation, Unit4 Business Software Limited, Xero Ltd., Zoho Corp, Red Wing Software Inc., MYOB Group Pty Ltd., Reckon Ltd., Saasu Pty Ltd., and Tally Solutions Private Limited.

The global accounting software market grew from $15.73 billion in 2022 to $17.71 billion in 2023 at a compound annual growth rate (CAGR) of 12.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The accounting software market is expected to grow to $27.3 billion in 2027 at a CAGR of 11.4%.

The accounting software market consists of revenues earned by entities by providing online accounting software. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Accounting software is a computer program that assists bookkeepers and accountants in recording and reporting financial transactions for a business. The accounting software is used for optimizing business financial accounting processes such as invoicing and billing, tax calculation, financial reporting, project management, and others. Accounting software is used by bookkeepers, accounting professionals, and business owners to process accounting transactions and manage accounts.

North America was the largest region in the accounting software market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in accounting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main components of accounting software include solutions and services. Accounting software solutions help in optimizing business financial accounting processes and handle day-to-day business transactions for hassle-free bookkeeping. The different accounting software types include spreadsheets, commercial accounting software, enterprise accounting software and custom accounting software. The deployment types for accounting software include on-premise and cloud, used by enterprise sizes such as large enterprises and SMEs. The different accounting software industry verticals include BFSI, retail and e-commerce, manufacturing, IT and telecom, healthcare, government and public sector, energy and utilities, media and entertainment and other verticals.

The increasing demand for automation in accounting processes is driving the growth of the accounting software market. The increasing demand from the finance and accounting professionals around the world for increasing the efficiency of the accounting processes generates higher demand for accounting software. According to a 2022 survey by Airbase, a spend management platform, comprising nearly 200 finance and accounting professionals in the US, 78% of the respondents agreed that automation would have a positive impact on their growth, and 47% said that a lack of automation was costing them time and money. Therefore, the increasing focus on automation in accounting processes drives the accounting software market.

Technological advancement is a key trend gaining popularity in the accounting software market. Major companies in the accounting software market are integrating advanced technologies such as AI (artificial intelligence) to launch innovative solutions. For instance, in July 2021, Xero, a New Zealand-based accounting software company, launched new planning, insights, and reporting tool, Analytics Plus, for small and medium-sized businesses. The tool combines cash flow forecasting and advanced predictions using AI to give businesses insights into different financial parameters.

In October 2021, FreshBooks, a Canada-based invoice and accounting software company, acquired FastBill for an undisclosed amount. With this acquisition, FreshBooks gained access to FastBill's expertise in European Union tax filing policies and enhanced accounting technologies. FreshBooks intends to expand into new markets and expand its platform to be more extensive. FastBill is a Germany-based accounting software provider.

The countries covered in the accounting software market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The accounting software market research report is one of a series of new reports from The Business Research Company that provides accounting software market statistics, including accounting software industry global market size, regional shares, competitors with an accounting software market share, detailed accounting software market segments, market trends and opportunities, and any further data you may need to thrive in the accounting software industry. This accounting software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Product Code: r4684

1. Executive Summary

2. Accounting Software Market Characteristics

3. Accounting Software Market Trends And Strategies

4. Accounting Software Market - Macro Economic Scenario

4.1. COVID-19 Impact On Accounting Software Market
4.2. Ukraine-Russia War Impact On Accounting Software Market
4.3. Impact Of High Inflation On Accounting Software Market

5. Accounting Software Market Size And Growth

5.1. Global Accounting Software Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
5.2. Global Accounting Software Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market

6. Accounting Software Market Segmentation

6.1. Global Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Solution
Services
6.2. Global Accounting Software Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Spreadsheets
Commercial Accounting Software
Enterprise Accounting Software
Custom Accounting Software
6.3. Global Accounting Software Market, Segmentation By Deployment Mode, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
On-Premise
Cloud
6.4. Global Accounting Software Market, Segmentation By Enterprise Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Large Enterprises
SMEs
6.5. Global Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
BFSI
Retail And Ecommerce
Manufacturing
IT And Telecom
Healthcare
Government And Public Sector
Energy And Utilities
Media And Entertainment
Other Verticals

7. Accounting Software Market Regional And Country Analysis

7.1. Global Accounting Software Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Accounting Software Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

8. Asia-Pacific Accounting Software Market

8.1. Asia-Pacific Accounting Software Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8.3. Asia-Pacific Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

9. China Accounting Software Market

9.1. China Accounting Software Market Overview
9.2. China Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
9.3. China Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

10. India Accounting Software Market

10.1. India Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
10.2. India Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

11. Japan Accounting Software Market

11.1. Japan Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11.2. Japan Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

12. Australia Accounting Software Market

12.1. Australia Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12.2. Australia Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

13. Indonesia Accounting Software Market

13.1. Indonesia Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13.2. Indonesia Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

14. South Korea Accounting Software Market

14.1. South Korea Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14.2. South Korea Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

15. Western Europe Accounting Software Market

15.1. Western Europe Accounting Software Market Overview
15.2. Western Europe Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15.3. Western Europe Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

16. UK Accounting Software Market

16.1. UK Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16.2. UK Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

17. Germany Accounting Software Market

17.1. Germany Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17.2. Germany Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

18. France Accounting Software Market

18.1. France Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18.2. France Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

19. Eastern Europe Accounting Software Market

19.1. Eastern Europe Accounting Software Market Overview
19.2. Eastern Europe Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19.3. Eastern Europe Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

20. Russia Accounting Software Market

20.1. Russia Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20.2. Russia Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

21. North America Accounting Software Market

21.1. North America Accounting Software Market Overview
21.2. North America Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21.3. North America Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

22. USA Accounting Software Market

22.1. USA Accounting Software Market Overview
22.2. USA Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22.3. USA Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

23. South America Accounting Software Market

23.1. South America Accounting Software Market Overview
23.2. South America Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23.3. South America Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

24. Brazil Accounting Software Market

24.1. Brazil Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24.2. Brazil Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

25. Middle East Accounting Software Market

25.1. Middle East Accounting Software Market Overview
25.2. Middle East Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25.3. Middle East Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

26. Africa Accounting Software Market

26.1. Africa Accounting Software Market Overview
26.2. Africa Accounting Software Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26.3. Africa Accounting Software Market, Segmentation By Industry Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

27. Accounting Software Market Competitive Landscape And Company Profiles

27.1. Accounting Software Market Competitive Landscape
27.2. Accounting Software Market Company Profiles
- 27.2.1. Intuit Inc
  - 27.2.1.1. Overview
  - 27.2.1.2. Products and Services
  - 27.2.1.3. Strategy
  - 27.2.1.4. Financial Performance
- 27.2.2. Sage Software Inc
  - 27.2.2.1. Overview
  - 27.2.2.2. Products and Services
  - 27.2.2.3. Strategy
  - 27.2.2.4. Financial Performance
- 27.2.3. SAP SE
  - 27.2.3.1. Overview
  - 27.2.3.2. Products and Services
  - 27.2.3.3. Strategy
  - 27.2.3.4. Financial Performance
- 27.2.4. Oracle Corporation
  - 27.2.4.1. Overview
  - 27.2.4.2. Products and Services
  - 27.2.4.3. Strategy
  - 27.2.4.4. Financial Performance
- 27.2.5. Microsoft Corporation
  - 27.2.5.1. Overview
  - 27.2.5.2. Products and Services
  - 27.2.5.3. Strategy
  - 27.2.5.4. Financial Performance

28. Key Mergers And Acquisitions In The Accounting Software Market

29. Accounting Software Market Future Outlook and Potential Analysis

30. Appendix

30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. The Business Research Company
30.6. Copyright And Disclaimer