Market Overview:
The global accounting application market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing adoption of cloud-based accounting applications and rising demand for real-time financial information by businesses across different industries. The global accounting application market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into cloud-based and on-premises accounting applications. Cloud-based accounting applications are expected to witness higher growth during the forecast period as they offer several benefits such as low cost of ownership, scalability, and easy deployment compared to on-premises solutions. On the basis of application, BFSI sector is expected to account for a major share in terms of revenue in 2018 owing to increasing need for streamlining financial operations among banks and other financial institutions worldwide.
Product Definition:
An accounting application is a software program that helps businesses track their financial transactions. This information can be used to create reports that track the company's overall financial health. An accounting application can also help businesses make better decisions about where to allocate their resources.
Cloud-based:
Cloud-based is a term used to define applications that are hosted on the cloud. The applications can be accessed from any location through the internet. Cloud-based solutions offer benefits such as increased access, cost efficiency, and ease of use which are encouraging organizations to switch from on-premise solutions to cloud based accounting application.
The major factor driving demand for cloud based accounting application is cost efficiency offered by these solutions as they eliminate additional costs associated with hardware procurement, installation.
On-premises:
On-premises is a term used for software and hardware installation at the organization's headquarters. In other words, it is a system that is installed and operated from the same organization where it was developed or purchased.
Application Insights:
The banking, financial services, and insurance (BFSI) segment accounted for the largest market share in 2017. The BFSI sector is anticipated to be one of the prominent sectors accounting for application in future as it offers various advantages including cost-effectiveness and operational efficiency. Furthermore, increasing penetration of technology such as big data analytics and cloud computing is expected to drive demand over the forecast period.
The healthcare segment accounted for a significant market share in 2017 owing to increasing government initiatives toward improving healthcare infrastructure across countries such as India, China, Germany etc. Moreover, growing demand for medical tourism due to low-cost treatments offered by developed nations is also expected to boost industry growth over the forecast period. Healthcare companies are focusing on offering advanced solutions that can help reduce costs associated with administration procedures which will further propel industry growth during future years accounting periods.
Regional Analysis:
The North American regional market accounted for the largest revenue share in 2017. The growth can be attributed to the presence of a large number of global and regional players operating in this region. Moreover, these players are also focusing on expanding their businesses by entering new regions such as Asia Pacific and Latin America. This is expected to drive demand over the forecast period.
The Asia Pacific accounting application market is anticipated to witness significant growth over the forecast period owing to increasing adoption of cloud-based accounting software by small & medium enterprises (SMEs). In addition, growing penetration of smartphones coupled with rising internet usage has created a huge opportunity for cloud-based accounting applications in this region.
Europe accounted for more than 25% revenue share in 2017 owing high adoption rates of advanced technologies such as big data analytics.
Growth Factors:
- Increasing demand for automation in accounting and financial operations to improve efficiency and accuracy.
- Growing number of small businesses and startups, who are looking for affordable and easy-to-use accounting software.
- The increasing trend of cloud-based accounting solutions that offer anytime, anywhere access to data from any device.
- Rising demand for integrated ERP/accounting systems that can manage all aspects of a business’s finances in one place.
Scope Of The Report
Report Attributes
Report Details
Report Title
Accounting Application Market Research Report
By Type
Cloud-based, On-premises
By Application
BFSI, Healthcare, Manufacturing, Government, IT & Telecom, Retail, Others
By Companies
SAP SE, Infor, Oracle, IBM, Zoho, Epicor, Workday, Intuit, Sage, FreshBooks, Microsoft, Unit4, Xero, Yonyou, Kingdee, Acclivity
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
128
Number of Tables & Figures
90
Customization Available
Yes, the report can be customized as per your need.
Global Accounting Application Market Report Segments:
The global Accounting Application market is segmented on the basis of:
Types
Cloud-based, On-premises
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
BFSI, Healthcare, Manufacturing, Government, IT & Telecom, Retail, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- SAP SE
- Infor
- Oracle
- IBM
- Zoho
- Epicor
- Workday
- Intuit
- Sage
- FreshBooks
- Microsoft
- Unit4
- Xero
- Yonyou
- Kingdee
- Acclivity
Highlights of The Accounting Application Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cloud-based
- On-premises
- By Application:
- BFSI
- Healthcare
- Manufacturing
- Government
- IT & Telecom
- Retail
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Accounting Application Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An accounting application is a software program that helps businesses keep track of their finances. It can include features such as budgeting, tracking expenses, and creating reports.
Some of the key players operating in the accounting application market are SAP SE, Infor, Oracle, IBM, Zoho, Epicor, Workday, Intuit, Sage, FreshBooks, Microsoft, Unit4, Xero, Yonyou, Kingdee, Acclivity.
The accounting application market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Accounting Application Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Accounting Application Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Accounting Application Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Accounting Application Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Accounting Application Market Size & Forecast, 2020-2028
4.5.1 Accounting Application Market Size and Y-o-Y Growth
4.5.2 Accounting Application Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Cloud-based
5.2.2 On-premises
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 BFSI
6.2.2 Healthcare
6.2.3 Manufacturing
6.2.4 Government
6.2.5 IT & Telecom
6.2.6 Retail
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Accounting Application Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Accounting Application Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Cloud-based
9.6.2 On-premises
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 BFSI
9.10.2 Healthcare
9.10.3 Manufacturing
9.10.4 Government
9.10.5 IT & Telecom
9.10.6 Retail
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Cloud-based
10.6.2 On-premises
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 BFSI
10.10.2 Healthcare
10.10.3 Manufacturing
10.10.4 Government
10.10.5 IT & Telecom
10.10.6 Retail
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Cloud-based
11.6.2 On-premises
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 BFSI
11.10.2 Healthcare
11.10.3 Manufacturing
11.10.4 Government
11.10.5 IT & Telecom
11.10.6 Retail
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Cloud-based
12.6.2 On-premises
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 BFSI
12.10.2 Healthcare
12.10.3 Manufacturing
12.10.4 Government
12.10.5 IT & Telecom
12.10.6 Retail
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Cloud-based
13.6.2 On-premises
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 BFSI
13.10.2 Healthcare
13.10.3 Manufacturing
13.10.4 Government
13.10.5 IT & Telecom
13.10.6 Retail
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Accounting Application Market: Competitive Dashboard
14.2 Global Accounting Application Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 SAP SE
14.3.2 Infor
14.3.3 Oracle
14.3.4 IBM
14.3.5 Zoho
14.3.6 Epicor
14.3.7 Workday
14.3.8 Intuit
14.3.9 Sage
14.3.10 FreshBooks
14.3.11 Microsoft
14.3.12 Unit4
14.3.13 Xero
14.3.14 Yonyou
14.3.15 Kingdee
14.3.16 Acclivity
