Market Overview:
The global hospitality accounting software market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cloud-based hospitality accounting software and the growing adoption of such software by small and medium enterprises (SMEs) and large enterprises. North America is expected to lead the global hospitality accounting software market in terms of revenue during the forecast period, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa.
Product Definition:
Hospitality Accounting Software is a type of software that is specifically designed for businesses in the hospitality industry. This software can help businesses manage their finances, track inventory, and even create reports. The importance of Hospitality Accounting Software lies in its ability to help businesses manage their finances more effectively. This software can help hospitality businesses keep track of their expenses and income, which can help them stay profitable.
Cloud-based:
Cloud-based software is a type of software that provides services over the internet. It uses data storage on remote servers instead of storing data locally on the computer. The advantage of this approach is that there is no need for users to have an active internet connection in order to use the service; it can be used even if the user has a slow or intermittent connection.
On-premises:
On-premises is a term used for software that is installed and run from the original source media or server. The most common type of on-premise software are accounting packages, CRM, ERP, and others. On-Premise Software has been dominating the market due to its benefits such as data security & privacy protection along with easy retrieval capability.
Application Insights:
The SMEs segment held the largest market share in 2017. The large enterprises segment is expected to grow at a higher rate over the forecast period owing to increasing government support for promoting tourism and developing hospitality infrastructure across various regions. Hospitality accounting software has helped many SMEs manage their books and accounts efficiently, which has boosted their business growth.
The large enterprises segment is further divided into small, medium and big-mediumsized businesses based on data volume handled by them. Large enterprises handle numerous transactions every day; therefore, they require advanced software that can help them with complex financial operations quickly and easily without any errors or omissions while generating reliable financial reports within strict time constraints ensuring smooth communication between departments throughout the year.
Regional Analysis:
North America accounted for the largest revenue share in 2017. The growth can be attributed to the presence of a large number of SMEs in the region that are opting for cloud-based solutions over on-premises ones. Furthermore, increasing investments by enterprises and rapid adoption of these solutions is expected to drive demand over the forecast period.
The Asia Pacific market is anticipated to witness significant growth during the forecast period owing to increasing focus on improving operational efficiency and reducing costs associated with manual accounting practices by hotels and resorts across countries such as China, India, Thailand, Malaysia among others. Moreover, growing tourism industry coupled with rising expenditure capabilities will also serve as high impact rendering drivers for this market during the same period.
Growth Factors:
- Increasing demand for cloud-based hospitality accounting software due to its advantages such as scalability, flexibility, and security.
- Growing adoption of mobile devices among hospitality professionals for accessing real-time information about their businesses.
- Proliferation of big data and analytics in the hospitality sector that is helping organizations make better business decisions.
- Emergence of new technologies such as blockchain and artificial intelligence that are expected to revolutionize the accounting process in the hospitality industry.
Scope Of The Report
Report Attributes
Report Details
Report Title
Hospitality Accounting Software Market Research Report
By Type
Cloud-based, On-premises
By Application
Small and Medium Enterprises (SMEs), Large Enterprises
By Companies
NetSuite, Sage Intacct, Deskera ERP, Multiview, FinancialForce, SAP, Oracle, Xledger, Acumatica, EBizCharge, Bench, Infor
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
153
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Hospitality Accounting Software Market Report Segments:
The global Hospitality Accounting Software 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
Small and Medium Enterprises (SMEs), Large Enterprises
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:
- NetSuite
- Sage Intacct
- Deskera ERP
- Multiview
- FinancialForce
- SAP
- Oracle
- Xledger
- Acumatica
- EBizCharge
- Bench
- Infor
Highlights of The Hospitality Accounting 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:
- Cloud-based
- On-premises
- By Application:
- Small and Medium Enterprises (SMEs)
- Large Enterprises
- 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 Hospitality Accounting 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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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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?
Hospitality accounting software is a computer application used to manage the financial aspects of hospitality businesses. It includes features such as tracking expenses, generating invoices, and managing finances.
Some of the major companies in the hospitality accounting software market are NetSuite, Sage Intacct, Deskera ERP, Multiview, FinancialForce, SAP, Oracle, Xledger, Acumatica, EBizCharge, Bench, Infor.
The hospitality accounting software market is expected to grow at a compound annual growth rate of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hospitality Accounting 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 Hospitality Accounting Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hospitality Accounting 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 Hospitality Accounting 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 Hospitality Accounting Software Market Size & Forecast, 2018-2028
4.5.1 Hospitality Accounting Software Market Size and Y-o-Y Growth
4.5.2 Hospitality Accounting Software Market Absolute $ Opportunity
Chapter 5 Global Hospitality Accounting 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 Hospitality Accounting Software 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 Hospitality Accounting 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 Hospitality Accounting Software Market Size Forecast by Applications
6.2.1 Small and Medium Enterprises (SMEs)
6.2.2 Large Enterprises
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hospitality Accounting 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 Hospitality Accounting 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 Hospitality Accounting Software Analysis and Forecast
9.1 Introduction
9.2 North America Hospitality Accounting 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 Hospitality Accounting Software 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 Hospitality Accounting Software Market Size Forecast by Applications
9.10.1 Small and Medium Enterprises (SMEs)
9.10.2 Large Enterprises
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 Hospitality Accounting Software Analysis and Forecast
10.1 Introduction
10.2 Europe Hospitality Accounting 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 Hospitality Accounting Software 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 Hospitality Accounting Software Market Size Forecast by Applications
10.10.1 Small and Medium Enterprises (SMEs)
10.10.2 Large Enterprises
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 Hospitality Accounting Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Hospitality Accounting 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 Hospitality Accounting Software 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 Hospitality Accounting Software Market Size Forecast by Applications
11.10.1 Small and Medium Enterprises (SMEs)
11.10.2 Large Enterprises
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 Hospitality Accounting Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Hospitality Accounting 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 Hospitality Accounting Software 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 Hospitality Accounting Software Market Size Forecast by Applications
12.10.1 Small and Medium Enterprises (SMEs)
12.10.2 Large Enterprises
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) Hospitality Accounting Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Hospitality Accounting 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) Hospitality Accounting Software 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) Hospitality Accounting Software Market Size Forecast by Applications
13.10.1 Small and Medium Enterprises (SMEs)
13.10.2 Large Enterprises
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 Hospitality Accounting Software Market: Competitive Dashboard
14.2 Global Hospitality Accounting Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 NetSuite
14.3.2 Sage Intacct
14.3.3 Deskera ERP
14.3.4 Multiview
14.3.5 FinancialForce
14.3.6 SAP
14.3.7 Oracle
14.3.8 Xledger
14.3.9 Acumatica
14.3.10 EBizCharge
14.3.11 Bench
14.3.12 Infor
