The Worldwide Accounting Software Industry is Expected to Reach $70.2 Billion by 2030 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Accounting Software Market By Component, By Deployment Mode, By Enterprise Size, By Type, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.

According to this report the accounting software market was valued at $11.9 billion in 2020, and is estimated to reach $70.2 billion by 2030, growing at a CAGR of 19.6% from 2021 to 2030.

Key Market Players

• Infor Inc.
• Intuit, Inc.
• Microsoft corporation
• Oracle Corporation
• Sage Group Plc
• Sage Group plc
• SAP SE
• Thomson Reuters
• Xero Ltd
• Zeta Software LLC
• Zoho Corporation

The accounting software is a used by accounting professionals, bookkeepers, and business owners to process accounting transactions and manage accounts. It provides a variety of benefits such as, account receivable & payable, tax compliance, cash flow analysis, trial balance, balance sheet, invoicing, income and expanses statements, and payroll. Accounting software improves corporate performance and streamline the business process. In addition, it saves money and time and allows organizations to execute multiple tasks at the same time.

Furthermore, it allows efficient and fast processing of financial transaction. Moreover, it eliminates manual process and improve accuracy and productivity by reduction of approval process. Furthermore, the accounting software provides industries with flexibility and scalability to enable a smooth integration of business processes, which ultimately support the market growth.

Factor such as surging demand for cloud-based accounting software and increase adoption of innovative technology to increases business productivity, drive the growth of the market. In addition, automation in accounting processes for providing greater efficiency by eliminating manual tasks, drive the market growth. Furthermore, increase in investment for artificial intelligence-oriented accounting software and rise in adoption of mobile and app-based accounting software, are anticipated to strengthen the market growth. However, data security & privacy concerns and maintenance & customization costs hamper the market growth.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the accounting software market analysis from 2020 to 2030 to identify the prevailing accounting software market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the accounting software market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global accounting software market trends, key players, Accounting Software Industry segments, application areas, and market growth strategies.

Key Market Segments

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

• BFSI
• Retail and Ecommerce
• Manufacturing
• IT and Telecom
• Healthcare
• Government and Public Sector
• Energy and Utilities
• Media and Entertainment
• Others

By Region

• North America
• U.S.
• Canada
• Europe
• United Kingdom
• Germany
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific
• Australia
• South Korea
• Rest of Asia-Pacific
• China
• India
• Japan
• LAMEA
• UAE
• Argentina
• Rest of LAMEA

For more information about this report visit https://www.researchandmarkets.com/r/8gd2e5