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Global Accounting Software Market to reach USD 66.40 billion by the end of 2030.

Global Accounting Software Market Size study & Forecast, by Component (Solution, Services), by Deployment Mode (On premise, Cloud), by Enterprise Size (Large Enterprises, SMEs), by Type (Spreadsheets, Commercial Accounting Software, Enterprise Accounting Software, Custom Accounting Software), by Industry Vertical (Retail and Ecommerce, Manufacturing, IT and Telecom, Healthcare, Media and Entertainment, Others) and Regional Analysis, 2023-2030

Product Code: ICTEITS-30586086
Publish Date: 20-07-2023
Page: 200

Global Accounting Software Market is valued approximately USD 15.86 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 19.6% over the forecast period 2023-2030. Accounting software refers to computer programs or applications designed to streamline and automate financial tasks and record-keeping processes within an organization. It enables businesses to efficiently manage and track their financial transactions, such as invoicing, billing, payroll, expense tracking, and tax preparation. By automating these processes, it helps to reduce manual errors, enhance accuracy, and provide timely and reliable financial information for decision-making purposes. The growth of the accounting software market is being driven by various factors. Firstly, the increasing adoption of innovative technologies aimed at boosting business productivity, along with the rise of virtual Chief Financial Officers (CFOs), is positively impacting the market. Secondly, the trend of automating accounting processes to improve efficiency and eliminate manual tasks is also fueling market growth. Moreover, the presence of advanced and reliable IT infrastructure is creating a lucrative demand for accounting software solutions.

Moreover, the rising adoption of cloud and software services is anticipated to create the lucrative demand for the market over the forecast period. According to the Statista, in 2023, cloud infrastructure services witnessed a significant increase in enterprise spending, reaching 225 billion U.S. dollars in 2022, which marked a growth of 47 billion U.S. dollars compared to the previous year. Looking ahead, the software as a service (SaaS) market is anticipated to be valued at around 197 billion U.S. dollars in 2023, with further estimated growth to reach 232 billion U.S. dollars by 2024. Additionally, increased adoption of mobile and app-based accounting software and rise in investment specifically targeted towards developing artificial intelligence (AI)-oriented accounting software, anticipated to create numerous opportunities for market expansion. However, the data security & privacy concerns stifling market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Accounting Software Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rising penetration of business accounting mobile applications and growing adoption of cloud computing technologies and solutions across the region. North America is expected to grow significantly during the forecast period, owing to accounting software solutions are gaining popularity in industries like healthcare, IT, manufacturing, and retail, as businesses seek to improve profitability amid infrastructure improvements and time limitations. In North America, the favorable financial climate encourages the allocation of funds towards installation, maintenance, and associated costs of accounting software for efficient operations.

Major market player included in this report are:
Intuit, Inc.
Zeta Software LLC
Thomson Reuters Corporation
Oracle Corporation
The Sage Group Plc
Microsoft corporation
Zoho Corporation
Xero Ltd
Infor Inc.
Recent Developments in the Market:
Ø In March 2023, Focus Softnet introduced its cloud-based accounting software called FocusLyte, specifically designed for medium and small enterprises. The software helps businesses manage invoices and payments efficiently.

Ø In January 2023, Halfpricesoft.com updated its ezAccounting software. The company made the updated version available to customers at no extra charge. The software now enables customers to handle payroll and various business tasks conveniently and affordably within a single application.
Global Accounting Software Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Component, Development Mode, Enterprise Size, Type, Industry Vertical, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
By Deployment Mode:
On premise
By Enterprise Size:
Large Enterprises
By Type:
Commercial Accounting Software
Enterprise Accounting Software
Custom Accounting Software
By Industry Vertical:
Retail and Ecommerce
IT and Telecom
Media and Entertainment
By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Accounting Software Market, by Region, 2020-2030 (USD Billion)
1.2.2. Accounting Software Market, by Component, 2020-2030 (USD Billion)
1.2.3. Accounting Software Market, by Development Mode, 2020-2030 (USD Billion)
1.2.4. Accounting Software Market, by Enterprise Size, 2020-2030 (USD Billion)
1.2.5. Accounting Software Market, by Type, 2020-2030 (USD Billion)
1.2.6. Accounting Software Market, by Industry Vertical, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Accounting Software Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Accounting Software Market Dynamics
3.1. Accounting Software Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Increasing demand for cloud-based accounting software Growing automation in accounting process
3.1.2. Market Challenges High Cost of Accounting Software Data security & privacy concerns
3.1.3. Market Opportunities Increased adoption of mobile and app-based accounting software Developing (AI)-oriented accounting software
Chapter 4. Global Accounting Software Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Accounting Software Market, by Component
5.1. Market Snapshot
5.2. Global Accounting Software Market by Component, Performance – Potential Analysis
5.3. Global Accounting Software Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Accounting Software Market, Sub Segment Analysis
5.4.1. Solution
5.4.2. Services
Chapter 6. Global Accounting Software Market, by Development Mode
6.1. Market Snapshot
6.2. Global Accounting Software Market by Development Mode, Performance – Potential Analysis
6.3. Global Accounting Software Market Estimates & Forecasts by Development Mode 2020-2030 (USD Billion)
6.4. Accounting Software Market, Sub Segment Analysis
6.4.1. On premise
6.4.2. Cloud
Chapter 7. Global Accounting Software Market, by Enterprise Size
7.1. Market Snapshot
7.2. Global Accounting Software Market by Enterprise Size, Performance – Potential Analysis
7.3. Global Accounting Software Market Estimates & Forecasts by Enterprise Size 2020-2030 (USD Billion)
7.4. Accounting Software Market, Sub Segment Analysis
7.4.1. Large Enterprises
7.4.2. SMEs
Chapter 8. Global Accounting Software Market, by Type
8.1. Market Snapshot
8.2. Global Accounting Software Market by Type, Performance – Potential Analysis
8.3. Global Accounting Software Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
8.4. Accounting Software Market, Sub Segment Analysis
8.4.1. Spreadsheets
8.4.2. Commercial Accounting Software
8.4.3. Enterprise Accounting Software
8.4.4. Custom Accounting Software
Chapter 9. Global Accounting Software Market, by Industry Vertical
9.1. Market Snapshot
9.2. Global Accounting Software Market by Industry Vertical, Performance – Potential Analysis
9.3. Global Accounting Software Market Estimates & Forecasts by Industry Vertical 2020-2030 (USD Billion)
9.4. Accounting Software Market, Sub Segment Analysis
9.4.1. Retail and Ecommerce
9.4.2. Manufacturing
9.4.3. IT and Telecom
9.4.4. Healthcare
9.4.5. Media and Entertainment
9.4.6. Others
Chapter 10. Global Accounting Software Market, Regional Analysis
10.1. Top Leading Countries
10.2. Top Emerging Countries
10.3. Accounting Software Market, Regional Market Snapshot
10.4. North America Accounting Software Market
10.4.1. U.S. Accounting Software Market Component breakdown estimates & forecasts, 2020-2030 Development Mode breakdown estimates & forecasts, 2020-2030 Enterprise Size breakdown estimates & forecasts, 2020-2030 Type breakdown estimates & forecasts, 2020-2030 Industry Vertical breakdown estimates & forecasts, 2020-2030
10.4.2. Canada Accounting Software Market
10.5. Europe Accounting Software Market Snapshot
10.5.1. U.K. Accounting Software Market
10.5.2. Germany Accounting Software Market
10.5.3. France Accounting Software Market
10.5.4. Spain Accounting Software Market
10.5.5. Italy Accounting Software Market
10.5.6. Rest of Europe Accounting Software Market
10.6. Asia-Pacific Accounting Software Market Snapshot
10.6.1. China Accounting Software Market
10.6.2. India Accounting Software Market
10.6.3. Japan Accounting Software Market
10.6.4. Australia Accounting Software Market
10.6.5. South Korea Accounting Software Market
10.6.6. Rest of Asia Pacific Accounting Software Market
10.7. Latin America Accounting Software Market Snapshot
10.7.1. Brazil Accounting Software Market
10.7.2. Mexico Accounting Software Market
10.8. Middle East & Africa Accounting Software Market
10.8.1. Saudi Arabia Accounting Software Market
10.8.2. South Africa Accounting Software Market
10.8.3. Rest of Middle East & Africa Accounting Software Market

Chapter 11. Competitive Intelligence
11.1. Key Company SWOT Analysis
11.1.1. Company 1
11.1.2. Company 2
11.1.3. Company 3
11.2. Top Market Strategies
11.3. Company Profiles
11.3.1. Intuit Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
11.3.2. Zeta Software LLC
11.3.3. Thomson Reuters Corporation
11.3.4. Oracle Corporation
11.3.5. SAP SE
11.3.6. The Sage Group Plc
11.3.7. Microsoft corporation
11.3.8. Zoho Corporation
11.3.9. Xero Ltd
11.3.10. Infor Inc.
Chapter 12. Research Process
12.1. Research Process
12.1.1. Data Mining
12.1.2. Analysis
12.1.3. Market Estimation
12.1.4. Validation
12.1.5. Publishing
12.2. Research Attributes
12.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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