Global Accounting Software Market Drivers, Trends And Restraints For 2022-2031
The Business Research Companys Accounting Software Global Market Report 2022 Market Size, Trends, And Forecast 2022-2026
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As per The Business Research Company's "Accounting Software Global Market Report 2022, the accounting software market share is predicted to reach a value of $15.71 billion in 2022 at a compound annual growth rate (CAGR) of 12.65%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The accounting software market is expected to grow to $24.13 billion in 2026 at a compound annual growth rate (CAGR) of 11.34%. The increasing demand for automation in accounting processes is driving the growth of the accounting software market.
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Accounting Software Market Trends
Technological advancement is a key trend gaining popularity in the accounting software market. Major companies in the accounting software market are integrating advanced technologies such as AI (artificial intelligence) to launch innovative solutions. For instance, in July 2021, Xero, a New Zealand-based accounting software company, launched new planning, insights, and reporting tool, Analytics Plus, for small and medium-sized businesses. The tool combines cash flow forecasting and advanced predictions using AI to give businesses insights into different financial parameters.
Accounting Software Market Overview
The accounting software market consists of sales of accounting software by entities (organizations, sole traders, and partnerships) that are used for optimizing business financial accounting processes such as invoicing and billing, tax calculation, financial reporting, project management, and others. Accounting software is used by bookkeepers, accounting professionals, and business owners to process accounting transactions and manage accounts.
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Accounting Software Global Market Report 2022 from TBRC covers the following information:
Market Size Data
Forecast period: Historical and Future
By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
By Component: Solution, Services
By Type: Spreadsheets, Commercial Accounting Software, Enterprise Accounting Software, Custom Accounting Software
By Deployment Mode: On-Premise, Cloud
By Enterprise Size: Large Enterprises, SMEs
By Industry Vertical: BFSI, Retail and Ecommerce, Manufacturing, IT and Telecom, Healthcare, Government and Public Sector, Energy and Utilities, Media and Entertainment, Other Verticals
By Geography: The global accounting software market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Intuit Inc, Sage Software Inc, SAP SE, Oracle Corporation, Microsoft Corporation, Infor Inc, Epicor Software Corporation, Unit4 Business Software Limited
Trends, opportunities, strategies and so much more.
Accounting Software Global Market Report 2022 is one of The Business Research Companys comprehensive reports that provides accounting software global market analysis and in-depth accounting software global market research. The market report analyzes accounting software global market size, accounting software global market growth drivers, accounting software global market segments, accounting software global market major players, accounting software global market growth across geographies, and accounting software market competitors revenues and market positioning. The accounting software market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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