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
- SAP SE
- The Sage Group Plc
- Microsoft corporation
- Zoho Corporation
- Xero Ltd
- Infor Inc.
Recent Developments in the Market:
- 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.
- 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:
- Historical Data: 2020 - 2021
- Base Year for Estimatio: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component, Development Mode, Enterprise Size, Type, Industry Vertical, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- 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:
By Enterprise Size:
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
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
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
- 3.1.1.1. Increasing demand for cloud-based accounting software
- 3.1.1.2. Growing automation in accounting process
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Accounting Software
- 3.1.2.2. Data security & privacy concerns
- 3.1.3. Market Opportunities
- 3.1.3.1. Increased adoption of mobile and app-based accounting software
- 3.1.3.2. 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
- 10.4.1.1. Component breakdown estimates & forecasts, 2020-2030
- 10.4.1.2. Development Mode breakdown estimates & forecasts, 2020-2030
- 10.4.1.3. Enterprise Size breakdown estimates & forecasts, 2020-2030
- 10.4.1.4. Type breakdown estimates & forecasts, 2020-2030
- 10.4.1.5. 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.
- 11.3.1.1. Key Information
- 11.3.1.2. Overview
- 11.3.1.3. Financial (Subject to Data Availability)
- 11.3.1.4. Product Summary
- 11.3.1.5. 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