Market Overview:
The global accounting and budgeting software market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The growth in the market can be attributed to the increasing adoption of cloud-based solutions and the need for streamlining financial operations. The on-premise segment is expected to dominate the market during the forecast period, owing to its advantages such as security and control over data.
Product Definition:
Accounting and budgeting software are programs used to manage financial data. They can help businesses track income and expenses, create budgets, and generate reports. Accounting and budgeting software can be helpful for small businesses that need to keep track of their finances but don't have the staff or resources to do so manually.
On-Premise:
On-premise software is a type of cloud computing system that involves the installation of the server and its operating system on-site. The data and applications are stored remotely on physical servers or in virtual machines. This method provides more control as compared to hosted services, where the data is stored remotely on a server owned by an external party.
SaaS:
Software as a Service (SaaS) is an approach to deliver software over the internet. It has been evolving since 1999 and was introduced by Microsoft in its Windows operating system. SaaS includes cloud-based solutions, wherein the data and applications are stored remotely on servers connected to networked computers. The user can access these applications using a web browser or through application programming interfaces (APIs).
Application Insights:
The accounting and budgeting software has witnessed a paradigm shift in the large enterprise sector. The large enterprises sector accounted for more than 60% of the overall market share in 2017. Large enterprises have been consistently adopting modern technologies such as cloud, mobile applications, social networks and e-commerce portals to improve their operations. This trend is expected to continue over the forecast period driving growth of the segment further.
The SME segment is anticipated to witness significant growth over the forecast period owing to increasing adoption of accounting and budgeting software by small businesses across geographies. The global accounting and budgeting software market for SMEs was valued at USD 194 million in 2017 with Germany holding the largest share within Europe followed by Russia (Europe). Increasing penetration of social media sites such as Facebook, YouTube among others has enabled small businesses owners/managers access remote users through internet allowing them perform complex financial functions such as accounts payable & receivable management, payroll processing etc.
Regional Analysis:
North America accounted for the largest revenue share in 2017. The region is expected to maintain its lead over the forecast period owing to early adoption of accounting and budgeting software by enterprises, high awareness levels about these tools among users, and presence of a large number of market players in this region. Moreover, increasing government efforts to implement e-government initiatives are also driving the growth of the regional market.
Asia Pacific is anticipated to be one of the fastest growing regions during the forecast period owing to increasing penetration by global vendors into emerging economies such as India and China with low internet penetration rates coupled with rising demand for cloud based accounting & budgeting software solutions from SMEs (Small & Medium Enterprises). Furthermore, growing investments by global vendors such as Microsoft Corporation; Google Inc.; Intuit Inc.; Oracle Corporation; Salesforce.com Inc.; SAP AG; IBM Corporation are projected to fuel growth over next few years.
Growth Factors:
- Increasing demand for cloud-based accounting and budgeting software due to its ease of use and low cost.
- The growing trend of BYOD (Bring Your Own Device) is also fueling the demand for cloud-based accounting and budgeting software as it allows employees to access their accounts from any device or location.
- Rapid growth in small businesses is also contributing to the growth of the accounting and budgeting software market as these businesses need affordable and easy-to-use solutions to manage their finances effectively.
- Rising awareness about the benefits of using accounting and budgeting software among small business owners is another key factor driving market growth.
- Growing demand for mobile apps for accounting and budgeting as they offer greater flexibility and convenience than traditional desktop applications
Scope Of The Report
Report Attributes
Report Details
Report Title
Accounting & Budgeting Software Market Research Report
By Type
On-Premise, SaaS
By Application
SME (Small and Medium Enterprises), Large Enterprise
By Companies
Sage Intacct, MIP Fund Accounting (formerly Abila MIP), Adaptive Insights, Prophix, QuickBooks, Xero, NetSuite, Oracle, Microsoft, FreshBooks, FreeAgent, Vena Solutions, Host Analytics, Wave Accounting, Workbooks, Financial Edge NXT, CCH Tagetik, SAP
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
209
Number of Tables & Figures
147
Customization Available
Yes, the report can be customized as per your need.
Global Accounting & Budgeting Software Market Report Segments:
The global Accounting & Budgeting Software market is segmented on the basis of:
Types
On-Premise, SaaS
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
SME (Small and Medium Enterprises), Large Enterprise
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:
- Sage Intacct
- MIP Fund Accounting (formerly Abila MIP)
- Adaptive Insights
- Prophix
- QuickBooks
- Xero
- NetSuite
- Oracle
- Microsoft
- FreshBooks
- FreeAgent
- Vena Solutions
- Host Analytics
- Wave Accounting
- Workbooks
- Financial Edge NXT
- CCH Tagetik
- SAP
Highlights of The Accounting & Budgeting Software 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:
- On-Premise
- SaaS
- By Application:
- SME (Small and Medium Enterprises)
- Large Enterprise
- 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 & Budgeting Software 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.
How you may use our products:
- 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?
Accounting and budgeting software is a computer application that helps individuals manage their finances by tracking expenses, income, and assets. The software can also help individuals create budgets and track their progress towards financial goals.
Some of the major players in the accounting & budgeting software market are Sage Intacct, MIP Fund Accounting (formerly Abila MIP), Adaptive Insights, Prophix, QuickBooks, Xero, NetSuite, Oracle, Microsoft, FreshBooks, FreeAgent, Vena Solutions, Host Analytics, Wave Accounting, Workbooks, Financial Edge NXT, CCH Tagetik, SAP.
The accounting & budgeting software market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Accounting & Budgeting Software 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 & Budgeting Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Accounting & Budgeting Software 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 & Budgeting Software 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 & Budgeting Software Market Size & Forecast, 2018-2028
4.5.1 Accounting & Budgeting Software Market Size and Y-o-Y Growth
4.5.2 Accounting & Budgeting Software Market Absolute $ Opportunity
Chapter 5 Global Accounting & Budgeting Software 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 Accounting & Budgeting Software Market Size Forecast by Type
5.2.1 On-Premise
5.2.2 SaaS
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Accounting & Budgeting Software 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 Accounting & Budgeting Software Market Size Forecast by Applications
6.2.1 SME (Small and Medium Enterprises)
6.2.2 Large Enterprise
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Accounting & Budgeting Software 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 & Budgeting Software 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 Accounting & Budgeting Software Analysis and Forecast
9.1 Introduction
9.2 North America Accounting & Budgeting Software 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 Accounting & Budgeting Software Market Size Forecast by Type
9.6.1 On-Premise
9.6.2 SaaS
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 Accounting & Budgeting Software Market Size Forecast by Applications
9.10.1 SME (Small and Medium Enterprises)
9.10.2 Large Enterprise
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 Accounting & Budgeting Software Analysis and Forecast
10.1 Introduction
10.2 Europe Accounting & Budgeting Software 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 Accounting & Budgeting Software Market Size Forecast by Type
10.6.1 On-Premise
10.6.2 SaaS
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 Accounting & Budgeting Software Market Size Forecast by Applications
10.10.1 SME (Small and Medium Enterprises)
10.10.2 Large Enterprise
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 Accounting & Budgeting Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Accounting & Budgeting Software 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 Accounting & Budgeting Software Market Size Forecast by Type
11.6.1 On-Premise
11.6.2 SaaS
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 Accounting & Budgeting Software Market Size Forecast by Applications
11.10.1 SME (Small and Medium Enterprises)
11.10.2 Large Enterprise
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 Accounting & Budgeting Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Accounting & Budgeting Software 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 Accounting & Budgeting Software Market Size Forecast by Type
12.6.1 On-Premise
12.6.2 SaaS
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 Accounting & Budgeting Software Market Size Forecast by Applications
12.10.1 SME (Small and Medium Enterprises)
12.10.2 Large Enterprise
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) Accounting & Budgeting Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Accounting & Budgeting Software 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) Accounting & Budgeting Software Market Size Forecast by Type
13.6.1 On-Premise
13.6.2 SaaS
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) Accounting & Budgeting Software Market Size Forecast by Applications
13.10.1 SME (Small and Medium Enterprises)
13.10.2 Large Enterprise
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 & Budgeting Software Market: Competitive Dashboard
14.2 Global Accounting & Budgeting Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sage Intacct
14.3.2 MIP Fund Accounting (formerly Abila MIP)
14.3.3 Adaptive Insights
14.3.4 Prophix
14.3.5 QuickBooks
14.3.6 Xero
14.3.7 NetSuite
14.3.8 Oracle
14.3.9 Microsoft
14.3.10 FreshBooks
14.3.11 FreeAgent
14.3.12 Vena Solutions
14.3.13 Host Analytics
14.3.14 Wave Accounting
14.3.15 Workbooks
14.3.16 Financial Edge NXT
14.3.17 CCH Tagetik
14.3.18 SAP
