Global Accounting & Budgeting Software Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.
The Accounting & Budgeting Software can be defined as a computer programme utilized for automation of financial transaction records as well as budgeting processes of an organization. These software's are helpful in accessing financial statements, cash flow, invoicing, bank accounts, and purchase appraisals etc. The growing automation across different industries and rising emergence of advanced technologies such as AI & ML as well as recent product launches from leading market players are factors that are accelerating the global market demand. For instance, according to Statista - during 2020, the global industrial automation market estimated at USD 175 billion. The market is expected to grow at a compound annual growth rate (CAGR) of 9% percent between 2020 & 2025 to reach to a value of USD 265 billion by 2025. Furthermore, leading market players are coming up with innovative products to leverage the growing adoption of Accounting & Budgeting Software. For instance, New Delhi, India based Marg Erp launched its new Online Accounting Software 'Marg Books for SMEs. Also, growing demand for online accounting and budgeting services and increasing penetration of 5G technologies in developing regions are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a high cost of deployment and lack of penetration from Small and Medium Sized enterprises impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Accounting & Budgeting Software Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing automation across various end use industries and presence of leading software vendors in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of IT sector and increasing penetration of leading market players in the region, would create lucrative growth prospects for the global Accounting & Budgeting Software Market across the Asia Pacific region.
Major market players included in this report are:
Coupa Software Inc.
FreshBooks
Intuit Inc.
Microsoft
MIP Fund Accounting
Oracle
Planful
Prophix
QuickBooks
Quicken
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product
On-Premises
SaaS
By Application
SME (Small and Medium Enterprises)
Large Enterprise
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Accounting & Budgeting Software Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
