Business Accounting Software Market by Deployment and Geography - Forecast and Analysis 2020-2024

  • Published: Jan 2021
  • Pages: 120
  • SKU: IRTNTR40282
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The business accounting software market has the potential to grow by USD 1.64 billion during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 6.26%.

This business accounting software market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentations by deployment (cloud-based and on-premises) and geography (North America, Europe, APAC, MEA, and South America). The business accounting software market report also offers information on several market vendors, including 2NDSITE Inc. (FreshBooks), Intuit Inc., Microsoft Corp., Oracle Corp., Priority Software Ltd., Red Wing Software Inc., SAP SE, The Sage Group Plc, Xero Ltd., and Zoho Corp. Pvt. Ltd. among others.

What will the Business Accounting Software Market Size be in 2020?

Business-Accounting-Software-Market-Market-Size-2019-2024

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Business Accounting Software Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The modernization of finance operations is notably driving the business accounting software market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the business accounting software market get your FREE report sample now.

This business accounting software market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Business Accounting Software Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • 2NDSITE Inc. (FreshBooks)
  • Intuit Inc.
  • Microsoft Corp.
  • Oracle Corp.
  • Priority Software Ltd.
  • Red Wing Software Inc.
  • SAP SE
  • The Sage Group Plc
  • Xero Ltd.
  • Zoho Corp. Pvt. Ltd.

 

The business accounting software market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the business accounting software market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Business Accounting Software Market?

Business-Accounting-Software-Market-Market-Share-by-Region-2019-2024

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29% of the market’s growth will originate from North America during the forecast period. The US is a key market for business accounting software in North America. 

The report offers an up-to-date analysis of the geographical composition of the market. North America has been recording significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Deployment Segments in the Business Accounting Software Market?

Business-Accounting-Software-Market-Market-Share-by-Deployment-2019-2024

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The business accounting software market share growth by the cloud-based segment has been significant. This report provides insights on the impact of the unprecedented outbreak of COVID-19 on market segments. Through these insights, you can safely deduce transformation patterns in consumer behavior, which is crucial to gauge segment-wise revenue growth during 2020-2024 and embrace technologies to improve business efficiency.

Request for a free sample of the report to get an exclusive glimpse of actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the business accounting software market size.

 

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What are the Key Factors Covered in this Business Accounting Software Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive business accounting software market growth during the next five years
  • Precise estimation of the business accounting software market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the business accounting software market across APAC, Europe, MEA, North America, and South America 
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of business accounting software market vendors

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Business Accounting Software Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 6%

Market growth 2020-2024

$ 1.64 billion

Market structure

Fragmented

YoY growth (%)

5.63

Regional analysis

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

Performing market contribution

North America at 29%

Key consumer countries

The US

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

2NDSITE Inc. (FreshBooks), Intuit Inc., Microsoft Corp., Oracle Corp., Priority Software Ltd., Red Wing Software Inc., SAP SE, The Sage Group Plc, 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 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.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The business accounting software market growth will increase by $1.64 billion during 2019-2024.
The business accounting software market is expected to grow at a CAGR of 6.26% during 2019-2024.
Technavio has segmented the business accounting software market by deployment (Cloud-based and On-premises) and geographic (North America, Europe, APAC, and South America).
2NDSITE Inc. (FreshBooks), Intuit Inc., Microsoft Corp., Oracle Corp., Priority Software Ltd., Red Wing Software Inc., SAP SE, The Sage Group Plc, Xero Ltd., Zoho Corp. Pvt. Ltd. are a few of the key vendors in the business accounting software market.
North America will register the highest growth rate of 36.36% among the other regions. Therefore, the business accounting software market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the business accounting software market growth are:
  • Growing demand for modernization of finance operations
  • Rising requirements for serializability to tackle counterfeiting
The business accounting software market vendors should focus on grabbing business opportunities from the cloud-based segment as it accounted for the largest market share in the base year.
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