(MENAFN - iCrowdNewsWire) The Financial Accounting Software Market accounted to US$ 4.36 Bn in 2017 and is expected to grow at a CAGR of 11.7% during the forecast period 2018 – 2025, to account to US$ 10.37 Bn by 2025.Growth in the recent five years is primarily driven by the following major factors, such as rapidly changing business landscapes of different business sectors coupled with changing Governmental regulations, high demands of the cloud based model for financial accounting software, and cut-throat competition amongst the peers along with the need to steer ahead in the market.
Top Leading Market Players: Microsoft Corporation (Microsoft Dynamics) Oracle (Hyperion) Freshbooks, Inc. Infor (Infor Cpm) Intuit, Inc. (Quickbooks) Lucanet Ag (Lucanet.Financial Consolidation) Onestream Software Llc IBM(Cognos) The Sage Group Plc (Sage Intacct) Wave Financial Inc. Xero Limited Zoho Corporation
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- To provide overview of the global Financial Accounting Software Market.
- To analyze and forecast the global Financial Accounting Software Market on the basis of deployment type, products and end user industry.
The study intends to deliver an overview of global financial accounting software market with detailed market segmentation. Also, it evaluates the present market state of financial accounting software market and forecasts the market till 2025. The report covers market dynamics affecting the financial accounting software market during the forecast period. Furthermore, the report analyzes the competitive scenario, geographic trends, and opportunities in the financial accounting software market with respect to all geographic regions. Further, the report includes the detailed company profiles of the key players in the financial accounting software market along with their market strategies with the SWOT analysis for all company profiled in the report.
Over the last few years, the accounting software were presumed to be used only by the larger organizations based on hosted on-premises model. Higher upfront costs, and expensive maintenance involved with this business model of the accounting software buoyed the small and medium enterprises to implement this software. The rapid expansion of cloud-based services later on paved the way for development of a highly dynamic and competitive software industry. Advent of cloud in the financial accounting software changed the business dynamics as the SMEs showed high interest in the implementations of these software owing to the cost saving achieved with the cloud based model. Other factors such as high availability, and reforming customer expectations around the world impact the financial accounting software market globally. These factors have propelled accelerated product innovations and enhancements in the recent times. Among the cloud-based accounting software providers, free business models as well as micro-job solutions are gaining higher prominence by the end-user sectors. Also, personalization coupled with data driven insights, augmented with the use of artificial intelligence and machine learning technologies are anticipated to transform the financial management industry completely in the coming few years.
APAC is expected to be the fastest growing region in the financial accounting software market. The major reason for this is the presence of a huge number of companies coupled with some favorable Government policies encouraging the setup of businesses in the region. Also, the availability of abundant human resource at inexpensive rates has lured business across different sectors to explore the APAC region and reap maximum benefits. India, China, are some of the important countries in Asia that comprise of large manufacturing plants. Geographically, North America will have the largest share in the financial accounting software market by 2025, owing to rapid technological developments, numerous investments and supportive Government policies in the western part of the world.
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Reason to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Global Financial Accounting Software Market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Financial Accounting Software, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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Tags: Financial Accounting Software Market , Financial Accounting Software Market Growth , Financial Accounting Software Market Size
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