Accounting Software Market to grow by USD 7.04 billion from 2021 to 2026, Growth Driven by Increasing demand for cloud-based accounting software- Technavio
NEW YORK, Sept. 15, 2023
NEW YORK, Sept. 15, 2023 /PRNewswire/ -- The accounting software market by deployment (on-premises and cloud) and geography (North America, Europe, APAC, MEA, and South America) - Forecast and Analysis 2022-2026" report has been added to the Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the accounting software market from 2021 to 2026 is USD 7.04 billion. The increasing demand for cloud-based accounting software is a key factor driving market growth. This growth is supported by the growing popularity of comprehensive financial aggregation, reporting, and analysis across a variety of business units. Furthermore, cloud-based accounting software is in high demand among end-users to manage their finances as it reduces processing time and maintenance costs, provides real-time reporting on all corporate accounts, and ensures visibility throughout the organization. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
The growing data privacy and security concerns are a significant challenge restricting market growth.
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The accounting software market has been segmented by deployment (on-premises and cloud) and geography (North America, Europe, APAC, MEA, and South America).
- The accounting software market share growth by the on-premises segment will be significant during the forecast period. The growing adoption of cloud accounting software in the context of cybersecurity is being driven by factors such as low long-term costs and data protection against various threats. Hence, the above-mentioned factors are expected to drive segment growth during the forecast period.
View the FREE Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the accounting software market:
Epicor Software Corp., Infor Inc., Intuit Inc., Microsoft Corp., Oracle Corp., Sage Group Plc, SAP SE, Unit4 NV, Xero Ltd., and Zoho Corp. Pvt. Ltd.
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Historic Market Sizes
Five Forces Analysis
Market Segmentation by Deployment
Market Segmentation by Geography
Drivers, Challenges, & Trends
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