Technology
Accounting Software Market to Grow by USD 7.04 Billion | Epicor Software Corp. and Infor Inc. Emerge as Key Contributors to Growth| Technavio

Accounting Software Market to Grow by USD 7.04 Billion | Epicor Software Corp. and Infor Inc. Emerge as Key Contributors to Growth| Technavio

NEW YORK, Feb. 10, 2022 /PRNewswire/ — The accounting software market is set to grow by USD 7.04 bn from 2021 to 2026. The growth momentum of the market will progress at a CAGR of 9.64% during the forecast period. 

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The accounting software market report offers a comprehensive analysis of the strategies adopted by vendors and the trends, drivers, and challenges affecting the market size. This study identifies the increasing demand for cloud-based accounting software as one of the prime reasons driving the accounting software market growth during the next few years.

Technavio analyzes the market by deployment (on-premises and cloud) and geography (North America, Europe, APAC, MEA, and South America). This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.

The accounting software market covers the following areas:

Accounting Software Market Sizing

Accounting Software Market Forecast

Accounting Software Market Analysis

Market Segmentation Analysis

By deployment, the accounting software market has been classified into two segments, namely on-premises and cloud. The on-premises segment is expected to have significant market share growth during the forecast period. On-premises accounting software is installed on native IT infrastructure and a business or enterprise’s network. Programs and databases are stored on a local server, which employees may access and edit. Factors such as low long-term costs and protection of financial data from various cybersecurity dangers are increasing the installation of on-premises accounting software. This will drive the growth of this market segment during the forecast period.

By geography, the accounting software market has been classified into five regions, namely North America, Europe, APAC, MEA, and South America. North America is expected to account for 39% of the market’s growth during the forecast period. The US is a key country for the accounting software market in the region. Market growth in this region will be faster than the growth of the market in Europe, APAC, MEA, and South America. The significant increase in the government expenditure on accounting management systems in various public and private entities and the presence of key vendors will drive the accounting software market growth in North America during the forecast period.

Some Companies Mentioned with their Offerings

  • Epicor Software Corp. – The company offers Project Accounting Software that enables project-based organizations to regain control and remove redundant administrative processes and related costs.
  • Infor Inc. – The company offers Infor Financials and Supply Management that delivers end-to-end ERP financial and accounting capabilities.
  • Intuit Inc. – The company offers QuickBooks Accounting Software that can track sales and create and send invoices.
  • Microsoft Corp. – The company offers Express Accounts, a professional business accounting software that is perfect for small businesses.
  • Oracle Corp. – The company offers Oracle Fusion Cloud ERP, which is a complete, modern, cloud ERP suite that provides teams with advanced capabilities.

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Accounting Software Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 9.64%

Market growth 2022-2026

USD 7.04 billion

Market structure

Fragmented

YoY growth (%)

9.02

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 39%

Key consumer countries

US, China, UK, India, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Epicor Software Corp., Infor Inc., Intuit Inc., Microsoft Corp., Oracle Corp., Sage Group Plc, SAP SE, Unit4 NV, Xero Ltd., and Zoho Corp. Pvt. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research

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