Market Overview:
The global distributed accounting tool market is expected to grow at a CAGR of xx% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cloud-based solutions and the growing trend of decentralization. The decentralized segment is expected to grow at a higher CAGR than the polycentric segment during the forecast period. By application, bill management is expected to hold the largest share of this market in 2018, followed by user information management and integral accounting. North America is estimated to account for the largest share of this market in 2018, followed by Europe and Asia Pacific.
Product Definition:
Distributed Accounting Tool is software that enables accountants to work together on client files, regardless of their physical location. It allows accountants to share information and documents, as well as collaborate on tasks. The importance of Distributed Accounting Tool is that it enables accountants to work more efficiently and effectively together, regardless of their location. This can result in faster turnaround times for clients and improved accuracy and quality of work.
Decentralization:
Decentralization is a process of political and economic decentralization or regional integration in which a central authority's power to govern is reduced. Decentralization can be seen as an alternative to the conventional centralized model of governance. In this model, decisions are taken collectively at lower levels by giving more powers and autonomy to local authorities; these decisions have an impact on the overall organizational structure.
Polycentric:
Polycentric is a method of accounting where the transactions are recorded in more than one location. It helps to increase the reliability of financial data by recording transactions in multiple ledgers and using double entry bookkeeping. The main objective behind polycentric accounting is to ensure transparency and accuracy in financial reporting, which can’t be achieved through conventional centralized doubleentry bookkeeping.
Application Insights:
The bill application segment accounted for the largest market share in 2017 and is anticipated to continue its dominance over the forecast period. The growing number of Distributed Accounting Tools (DAT) providers, coupled with increasing demand for automation in various industries such as healthcare, banking and financial services, manufacturing among others is expected to drive the global DAT market.
The user info application segment was valued at USD 536.5 million in 2017 owing to high usage across multiple industry verticals including oil & gas and retail among others. The integral DAT solution provides a real-time view of accounting transactions from different systems through a single interface thus providing an integrated picture of business operations which has been driving its adoption across various industries globally thereby contributing towards revenue growth over the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The growth of this region can be attributed to the presence of a large number of accounting service providers and technology companies. These companies are focusing on developing innovative solutions for DATs to enhance their services offerings and increase customer retention rates. Moreover, these players are collaborating with regional players to offer end-to-end solutions for distributed accounting tools across North America region. For instance, in September 2018, PwC collaborated with Ubitus Inc., a distributed cloud accounting platform provider based out of Canada, to develop an integrated cloud solution that would help medium enterprises manage their finances better by leveraging the power of artificial intelligence (AI).
Asia Pacific is expected to emerge as the fastest growing regional market over the forecast period owing to increasing adoption by small & medium enterprises (SMEs) along with rapid developments in banking sector infrastructure within Asia Pacific Economic Cooperation (APEC) region countries such as China.
Growth Factors:
- Increasing demand for automation in the accounting process to reduce human error and improve efficiency.
- Growing need for real-time visibility into financial data across organizations to make better strategic decisions.
- The increasing trend of cloud-based deployments as it offers scalability, flexibility, and security.
- Rising demand from small and medium businesses (SMBs) for affordable yet powerful accounting tools that can meet their specific needs.
Scope Of The Report
Report Attributes
Report Details
Report Title
Distributed Accounting Tool Market Research Report
By Type
Decentralization, Polycentric
By Application
Bill, User Info, Integral, Other
By Companies
Tecent, Monax Industries, Banana, Burst IQ, Blockstream, FACTOM, MEDICALCHAIN, Coinify ApS, Alibaba Group, GoCoin, COCOCN
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
196
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.
Global Distributed Accounting Tool Market Report Segments:
The global Distributed Accounting Tool market is segmented on the basis of:
Types
Decentralization, Polycentric
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
Bill, User Info, Integral, Other
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:
- Tecent
- Monax Industries
- Banana
- Burst IQ
- Blockstream
- FACTOM
- MEDICALCHAIN
- Coinify ApS
- Alibaba Group
- GoCoin
- COCOCN
Highlights of The Distributed Accounting Tool 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:
- Decentralization
- Polycentric
- By Application:
- Bill
- User Info
- Integral
- Other
- 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 Distributed Accounting Tool 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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Distributed accounting tool is a software that helps users to keep track of their finances and performance across different locations.
Some of the key players operating in the distributed accounting tool market are Tecent, Monax Industries, Banana, Burst IQ, Blockstream, FACTOM, MEDICALCHAIN, Coinify ApS, Alibaba Group, GoCoin, COCOCN.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Distributed Accounting Tool 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 Distributed Accounting Tool Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Distributed Accounting Tool 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 Distributed Accounting Tool 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 Distributed Accounting Tool Market Size & Forecast, 2018-2028
4.5.1 Distributed Accounting Tool Market Size and Y-o-Y Growth
4.5.2 Distributed Accounting Tool Market Absolute $ Opportunity
Chapter 5 Global Distributed Accounting Tool 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 Distributed Accounting Tool Market Size Forecast by Type
5.2.1 Decentralization
5.2.2 Polycentric
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Distributed Accounting Tool 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 Distributed Accounting Tool Market Size Forecast by Applications
6.2.1 Bill
6.2.2 User Info
6.2.3 Integral
6.2.4 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Distributed Accounting Tool 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 Distributed Accounting Tool 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 Distributed Accounting Tool Analysis and Forecast
9.1 Introduction
9.2 North America Distributed Accounting Tool 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 Distributed Accounting Tool Market Size Forecast by Type
9.6.1 Decentralization
9.6.2 Polycentric
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 Distributed Accounting Tool Market Size Forecast by Applications
9.10.1 Bill
9.10.2 User Info
9.10.3 Integral
9.10.4 Other
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 Distributed Accounting Tool Analysis and Forecast
10.1 Introduction
10.2 Europe Distributed Accounting Tool 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 Distributed Accounting Tool Market Size Forecast by Type
10.6.1 Decentralization
10.6.2 Polycentric
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 Distributed Accounting Tool Market Size Forecast by Applications
10.10.1 Bill
10.10.2 User Info
10.10.3 Integral
10.10.4 Other
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 Distributed Accounting Tool Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Distributed Accounting Tool 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 Distributed Accounting Tool Market Size Forecast by Type
11.6.1 Decentralization
11.6.2 Polycentric
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 Distributed Accounting Tool Market Size Forecast by Applications
11.10.1 Bill
11.10.2 User Info
11.10.3 Integral
11.10.4 Other
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 Distributed Accounting Tool Analysis and Forecast
12.1 Introduction
12.2 Latin America Distributed Accounting Tool 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 Distributed Accounting Tool Market Size Forecast by Type
12.6.1 Decentralization
12.6.2 Polycentric
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 Distributed Accounting Tool Market Size Forecast by Applications
12.10.1 Bill
12.10.2 User Info
12.10.3 Integral
12.10.4 Other
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) Distributed Accounting Tool Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Distributed Accounting Tool 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) Distributed Accounting Tool Market Size Forecast by Type
13.6.1 Decentralization
13.6.2 Polycentric
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) Distributed Accounting Tool Market Size Forecast by Applications
13.10.1 Bill
13.10.2 User Info
13.10.3 Integral
13.10.4 Other
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 Distributed Accounting Tool Market: Competitive Dashboard
14.2 Global Distributed Accounting Tool Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Tecent
14.3.2 Monax Industries
14.3.3 Banana
14.3.4 Burst IQ
14.3.5 Blockstream
14.3.6 FACTOM
14.3.7 MEDICALCHAIN
14.3.8 Coinify ApS
14.3.9 Alibaba Group
14.3.10 GoCoin
14.3.11 COCOCN
