Accounting Software Market is estimated to be US$ 84.0 billion by 2032; rising investment for AI (artificial intelligence) oriented accounting software to Fuel Market Growth

Published Date: June 2024

The Accounting Software provides wide variety of advantages such as cash flow analysis, tax compliance, trail balance, account receivable & payable, balance sheet and others. It also helps in reducing number of errors by saving time & money due to automation process.

Rising adoption of digital technologies has become the major factor in target market growth. Increasing availability of advanced and robust IT infrastructure coupled with growing investment in AI (artificial intelligence)-oriented accounting software is expected to fruitful the demand for Accounting Software Market growth over the forecast period.

The report “Accounting Software Market, By Deployment Type (On-premise, Cloud-based), By Type (Payroll Management Software, Spreadsheets, Billing & Invoice Software, and Others), By Component (Solution, Services), By End-Users (BFSI, Retail, Government & Public Sector, IT & Telecom, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

 Key Highlights:

  • In November 2019, Intuit launched new ‘QuickBooks Online Accountant’ in India which is designed for CAs (Chartered Accountants) to take grow their practice with managing their clients. The new launched QuickBooks are featured with strong access controls, audit log system, password protection, protected data access, customizable management reporting system, provide wholesale billing options, GST compliant and user friendly for clients across industries.

Analyst View:

The key factor driving the growth of the Accounting Software Market is rising adoption of digital technologies. The continuous technological development and growing usage of accounting software in finance and banking for improving business & customer experience has fueled the demand for Accounting Software market growth. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Accounting Software Market, By Deployment Type (On-premise, Cloud-based), By Type (Payroll Management Software, Spreadsheets, Billing & Invoice Software, and Others), By Component (Solution, Services), By End-Users (BFSI, Retail, Government & Public Sector, IT & Telecom, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Key Market Insights from the report:

Accounting Software Market accounted for US$ 16.9 billion in 2022 and is estimated to be US$ 84.0 billion by 2032 and is anticipated to register a CAGR of 18.1%. The Accounting Software Market is segmented based on Deployment Type, Type, Component, End-Users and Region.

  • Based on Deployment Type, Accounting Software Market is segmented into On-premise, Cloud-based.
  • Based on Type, Accounting Software Market is segmented into Payroll Management Software, Spreadsheets, Billing & Invoice Software, Enterprise Accounting Software, Commercial Accounting Software, and Custom Accounting Software.
  • Based on Component, Accounting Software Market is segmented into Solution, Services.
  • Based on End-Users, Accounting Software Market is segmented into BFSI, Retail, Government & Public Sector, IT & Telecom, Manufacturing, Media & Entertainment, Energy & Utilities, Pharmaceutical & Healthcare, and Others.
  • By Region, the Accounting Software Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Accounting Software Market:

The prominent players operating in the Accounting Software Market  includes, Intuit Inc., Infor Inc., Kingdee International Software Group (HK) Ltd., Tally Solutions Pvt. Ltd., Microsoft Corporation, Assist Cornerstone, Oracle Corporation, SAP SE, Xero Ltd, Sage Group Plc., and others.

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