This report covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies

PUNE, INDIA, November 22, 2019 /EINPresswire.com/ -- Market Overview

Accounting software can be generally referred to computer software, which facilitates bookkeepers as well as the accountants to manage and execute accounting operations of an operation efficiently. The software helps in the recording and processing of transactions within specific functional modules such as, account receivable, account payable, payroll, general ledger, and trial balance.

The accounting software market is estimated to procure a substantial share of the global market. Integration of business accounting software along with big data, coupled with the advent of optical character recognition are some of the chief factors estimated to propel the accounting software market across the forecast period. Accounting software also ensures accurate financials of an organization, such as cost-effective operation, time-saving, and increased overall productivity. These factors are estimated to drive the market during the assessment period. Moreover, due to these factors, the software is more deployable for small businesses. With the surging demand for cloud computing, end-user sectors are highly embracing cloud based and accounting software. It has also been speculated that there will be a massive growth in cloud-based accounting software in the coming years. These factors are estimated to create new doors of opportunities for the global accounting software market during the assessment period.

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Several accounting software are gradually becoming obsolete due to the lack of technological competitiveness, compared to new comprehensive models possessing the ability to manage several operations at the same time. This further creates a positive business scenario for the market worldwide.

On the contrary, high cost and implementation of accounting software are some of the major concerns predicted to slowdown the accounting software market growth worldwide.

Global Market Key Players :

Intuit
Xero
Sage
Oracle (NetSuite)
Microsoft
SAP
Workday
Infor
Unit4
Epicor
Assit cornerstone
Red wing
Aplicor
Yonyou
FreshBooks
Acclivity
Intacct
Kingdee
Tally Solutions Pvt. Ltd.

Segmental Analysis

The global accounting software market has been segmented on the basis of type and application.

By type, the accounting software market is segmented into online solutions accounting software, embedded accounting software packages, and desktop non-embedded solutions accounting software.

The application segment of accounting software market comprises services, manufacturing, and retail.

Regional Insights

Geographically, the accounting software market spans across the Americas, Asia Pacific, Europe, and the Middle East & Africa.

Considering the global scenario, the Asia Pacific is likely to command the largest share of the global market. The growth can be accredited to the proliferation of the business accounting mobile application, coupled with the increased adoption of modern technologies in the region. Emergence of small businesses along with the rising investment in the SaaS and cloud market are likely to augment the regional market’s growth over the forecast period. In this region, China is estimated to be the biggest spender on the public cloud, which is further estimated to contribute to the regional market’s growth. In India, the adoption of accounting software is likely to gain prominence as the country has switched to a GST theme. Rising deployment of cloud technology in the APAC will propel the APAC accounting software market share over the forecast period.

Industry News

April 2019: A global leader in business cloud software, Infor, has recently declared the completed acquisitions of Efficient Frontiers, Inc. dba ReServe Interactive., which has its headquarters in Livermore.

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NORAH TRENT
WISE GUY RESEARCH CONSULTANTS PVT LTD
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