Market Overview:
The global retail accounting software market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cloud-based retail accounting software and the growing adoption of Retail as a Service (RaaS) by small and medium enterprises (SMEs). North America is expected to lead the global retail accounting software market in terms of revenue during the forecast period, followed by Europe and Asia Pacific.
Product Definition:
Retail Accounting Software is a type of software that is used by retailers to manage their accounting operations. It helps to track sales, purchases, and other financial transactions. It also helps to generate reports and other financial statements. The importance of Retail Accounting Software is that it enables retailers to effectively manage their finances and make informed business decisions.
Cloud-based:
Cloud-based software is a type of software that provides services over the internet. It's an umbrella term for all types of on-demand networked computing platforms, including Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS). Cloud computing has changed the way businesses operate by providing flexibility in terms of storage, infrastructure, application development environment along with increased accessibility to varied hardware resources.
On-premises:
On-premises software is a type of retail accounting software that is installed and used on the end-users' computers, laptops, tablets or smartphones. The end users will log into the system using their credentials (user name and password) to perform their daily operations. On-premise Retail Accounting Software has been widely accepted by retailers as it offers high security with respect to data privacy and protection against internal as well as external threats.
Application Insights:
The large enterprises segment accounted for the largest market share in 2017. This is attributed to the fact that these companies have a diverse set of accounting applications and require robust solutions to manage their accounts receivable, inventory, payroll, billing & finance and other processes. The growing complexity of business operations across various industries has led retailers to adopt innovative retail accounting software solutions that can help them improve their internal controls and financial reporting while reducing costs.
The small & medium-sized enterprises (SMEs) segment is expected register the highest CAGR over the forecast period owing to increasing penetration of e-commerce platforms which has resulted in an increased number of transactions for these businesses. SMEs are also likely to be more flexible than larger counterparts as they do not have a huge IT infrastructure at their disposal which can be costly for smaller firms trying out new technologies or adopting cloud computing services.
Regional Analysis:
The Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing penetration of accounting software in emerging economies, such as India and China. In addition, growing awareness regarding advanced technologies among small & medium enterprises (SMEs) is anticipated to drive demand for accounting software in this region. Furthermore, increasing number of startups across various industries are driving demand for accounting solutions among these companies which, in turn will fuel regional market growth over the next eight years.
North America accounted for a significant revenue share owing to high adoption of retail accounting software by retailers such as Walmart Inc., Lord & Taylor Stores LLC., Saks Fifth Avenue Inc., Nordstrom Inc., JCPenney Companies Inc.; along with other large enterprises operating within the industry verticals including food & beverage sector; consumer goods; automotive; travel & tourism sector etc.).
Growth Factors:
- Increasing demand for Retail Accounting Software from small and medium-sized businesses (SMBs) due to the growing complexities of managing finances and increasing compliance requirements.
- The need for better inventory management and tracking capabilities to help retailers stay competitive in the market.
- Rising demand for cloud-based Retail Accounting Software as it helps businesses save on upfront costs, reduces IT infrastructure needs, and provides anytime/anywhere access to data.
- Growing popularity of mobile devices among retail professionals, which is driving the demand for Retail Accounting Software that offers mobile apps with features such as check deposit, barcode scanning, etc.
Scope Of The Report
Report Attributes
Report Details
Report Title
Retail Accounting Software Market Research Report
By Type
Cloud-based, On-premises
By Application
Large Enterpries, SMEs
By Companies
Square, Lightspeed, Oracle, Fishbowl, Deputy, Odoo, Phorest, Epos Now, Route4Me, Vend, Salon Iris, EZRentOut, QuickBooks, RepairDesk, Boulevard, Brightpearl, LS Retail, Meevo 2, OptimoRoute
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
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Retail Accounting Software Market Report Segments:
The global Retail 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
Large Enterpries, SMEs
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:
- Square
- Lightspeed
- Oracle
- Fishbowl
- Deputy
- Odoo
- Phorest
- Epos Now
- Route4Me
- Vend
- Salon Iris
- EZRentOut
- QuickBooks
- RepairDesk
- Boulevard
- Brightpearl
- LS Retail
- Meevo 2
- OptimoRoute
Highlights of The Retail 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:
- Large Enterpries
- SMEs
- 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 Retail 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.
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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?
Retail accounting software is a computer program that helps businesses manage their financial records and reports. It includes features such as tracking sales, inventory, and expenses. Retail accounting software can also help businesses make decisions about where to allocate their resources and how to improve their operations.
Some of the major players in the retail accounting software market are Square, Lightspeed, Oracle, Fishbowl, Deputy, Odoo, Phorest, Epos Now, Route4Me, Vend, Salon Iris, EZRentOut, QuickBooks, RepairDesk, Boulevard, Brightpearl, LS Retail, Meevo 2, OptimoRoute.
The retail accounting 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 Retail 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 Retail Accounting Software Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Retail 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 Retail 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 Retail Accounting Software Market Size & Forecast, 2018-2028 4.5.1 Retail Accounting Software Market Size and Y-o-Y Growth 4.5.2 Retail Accounting Software Market Absolute $ Opportunity
Chapter 5 Global Retail 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 Retail 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 Retail 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 Retail Accounting Software Market Size Forecast by Applications
6.2.1 Large Enterpries
6.2.2 SMEs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Retail 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 Retail 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 Retail Accounting Software Analysis and Forecast
9.1 Introduction
9.2 North America Retail 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 Retail 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 Retail Accounting Software Market Size Forecast by Applications
9.10.1 Large Enterpries
9.10.2 SMEs
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 Retail Accounting Software Analysis and Forecast
10.1 Introduction
10.2 Europe Retail 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 Retail 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 Retail Accounting Software Market Size Forecast by Applications
10.10.1 Large Enterpries
10.10.2 SMEs
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 Retail Accounting Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Retail 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 Retail 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 Retail Accounting Software Market Size Forecast by Applications
11.10.1 Large Enterpries
11.10.2 SMEs
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 Retail Accounting Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Retail 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 Retail 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 Retail Accounting Software Market Size Forecast by Applications
12.10.1 Large Enterpries
12.10.2 SMEs
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) Retail Accounting Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Retail 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) Retail 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) Retail Accounting Software Market Size Forecast by Applications
13.10.1 Large Enterpries
13.10.2 SMEs
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 Retail Accounting Software Market: Competitive Dashboard
14.2 Global Retail Accounting Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Square
14.3.2 Lightspeed
14.3.3 Oracle
14.3.4 Fishbowl
14.3.5 Deputy
14.3.6 Odoo
14.3.7 Phorest
14.3.8 Epos Now
14.3.9 Route4Me
14.3.10 Vend
14.3.11 Salon Iris
14.3.12 EZRentOut
14.3.13 QuickBooks
14.3.14 RepairDesk
14.3.15 Boulevard
14.3.16 Brightpearl
14.3.17 LS Retail
14.3.18 Meevo 2
14.3.19 OptimoRoute