Global Accounting Software Industry To 2026 – Growing Trend In Accounting Automation Drives Growth – ResearchAndMarkets.com


DUBLIN – (COMMERCIAL THREAD) – The report “Accounting Software Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.

The accounting software market was valued at USD 12.01 billion in 2020 and is expected to reach USD 19.59 billion by 2026, at a CAGR of 8.5% over the forecast period 2021-2026.

Companies mentioned

  • Intuit Inc.

  • Sage Software Inc.

  • SAP SE

  • Oracle Corporation

  • Microsoft Corporation

  • Infor inc.

  • Epicor Software Company

  • Unit4 Business Software Limited

  • Xero Ltd

  • Zoho Corp

  • Red Wing Software Inc.

  • MYOB Group Pty Ltd

  • Reckon Ltd.

  • Saasu Pty Ltd

Key market trends

Increased Efficiency Offered By Accounting Software To Drive Market Growth

  • Accounting software increases efficiency because it is used to track accounting transactions or to manage money entering and leaving the business. It has emerged as a better solution to manage accounts of a business because it can easily manage accounts payable, accounts receivable, company payroll, general ledger and other business modules.

  • In addition, features that keep the company’s financial data accurate, such as saving time, operating profitably, and increasing overall productivity, are expected to drive demand. In addition, these factors make this software more deployable for small businesses.

  • Businesses buy accounting-based software to increase functionality and replace obsolete system. The reason is that the accounting calculation is tedious and complex. It will take manpower to finish things. But accounting software can do the calculation with precision and accuracy without labor.

  • In addition, automation in the accounting industry is also a continuing trend driven by advancements in software. Accounting has been highly automated without the need for significant physical intervention. The latest accounting software has allowed organizations to minimize their human resources. This has led to efficient use of capital and better management of available resources.

Asia-Pacific to experience fastest growth

  • Asia-Pacific is expected to experience faster growth for accounting software, mainly due to factors such as the growing penetration of mobile business accounting applications and the increased adoption of cloud computing technologies and solutions in the industry. region. In addition, the emergence of small businesses and the rising investment of SMEs in the cloud and SaaS market is expected to drive the market growth.

  • By implementing various initiatives to boost business confidence in cloud, local governments play an important role in developing the market for cloud integration services in the region, thus developing more opportunities for the studied market.

  • In addition, the increasing attention of governments in the region to facilitate organizational payments, transactions and generate a track of debt, liabilities and assets increases the demand for the studied market.

  • For example, the Australian government’s focus on improving payment times for large companies could be vital in the coming months. Recently, in April 2020, Small Business Minister Stuart Nash told Parliament’s Outbreak Response Committee that he intended to write to larger businesses to encourage them to pay their bills to local SMEs. as quickly as possible.

Main topics covered:

1. INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW

4.1 Market overview

4.2 Industry Value Chain Analysis

4.3 Industry Attractiveness – Porter’s Five Forces Analysis

4.3.1 Bargaining power of suppliers

4.3.2 Bargaining power of consumers

4.3.3 Threat of new entrants

4.3.4 Intensity of Competitive Rivalry

4.3.5 Threat of Substitute Products

4.4 Technology overview

4.5 Assessment of the impact of COVID-19 on the market

5 MARKET DYNAMICS

5.1 Market drivers

5.1.1 Growing Trend in Accounting Automation

5.2 Market restrictions

5.2.1 Lack of awareness

6 MARKET SEGMENTATION

6.1 By type of deployment

6.2 Size of the organization

6.3 Geography

6.3.1 North America

6.3.2 Europe

6.3.3 Asia-Pacific

6.3.4 Latin America

6.3.5 Middle East and Africa

7 COMPETITIVE LANDSCAPE

7.1 Company profiles

7.1.1 Intuit Inc.

7.1.2 Sage software inc.

7.1.3 SAP SE

7.1.4 Oracle Company

7.1.5 Microsoft Corporation

7.1.6 Infor inc.

7.1.7 Epicor Software Company

7.1.8 Unit4 Business Software Limited

7.1.9 Xero Ltd

7.1.10 Zoho Corp

7.1.11 Red Wing Software Inc.

7.1.12 MYOB Group Pty Ltd

7.1.13 Reckon Ltd.

7.1.14 Saasu Pty Ltd

8 ANALYSIS OF SUPPLIERS ‘MARKET SHARES

9 INVESTMENT ANALYSIS

10 FUTURE OF THE MARKET

For more information on this report, visit https://www.researchandmarkets.com/r/2nsg16

Previous Free personal finance and business accounting software for Windows 11/10
Next SEC Warnings on PSPCs Slow Transactions, Strengthen Accounting Services