The global accounting software market size is expected to reach USD 38.27 Billion by 2032, according to a new study by Polaris Market Research. The report “Accounting Software Market Share, Size, Trends, Industry Analysis Report, By Component (Services and Solution); By Type; By Deployment Type; By Enterprise Size; By End Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The adoption of accounting software is set to be fueled by the increasing trend of small and medium enterprises (SMEs) collaborating with e-commerce players and integrating with other online applications. This includes leveraging automated bank feeds and billing features and improving efficiency. Accounting software enables businesses to effectively track and manage their accounting transactions, ensuring smooth cash flow management. It offers comprehensive solutions for managing various aspects such as accounts payables, accounts receivables, business payroll, general ledger, and other essential business modules.
Accounting software has emerged as a reliable and efficient solution for businesses to manage their accounts effectively. It streamlines the processes related to account payables, account receivables, business payroll, and general ledger management. Furthermore, integrating accounting software with e-commerce players and other online applications, including automated bank feeds and billing features, enhances financial operations' overall efficiency and accuracy. This growing adoption of accounting software is expected to continue during the forecast period, driven by the increasing need for efficient accounting management among small and medium enterprises.
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In the accounting software market, vendors with a core focus on accounting have capitalized on the cost advantages of cloud technology. They have specifically targeted micro, small, and medium-sized businesses. Notably, these vendors have adopted strategies that involve incorporating advanced features like artificial intelligence. These features enable applications such as planning, learning, problem-solving, and speech recognition, enhancing the functionality and value of their accounting software offerings.
Accounting Software Market Report Highlights
Polaris Market Research has segmented the accounting software market report based on component, type, deployment type, enterprise size, end-use, and region:
Accounting Software, Component Outlook (Revenue - USD Billion, 2019 - 2032)
Accounting Software, Type Outlook (Revenue - USD Billion, 2019 - 2032)
Accounting Software, Deployment Type Outlook (Revenue - USD Billion, 2019 - 2032)
Accounting Software, Enterprise Size Outlook (Revenue - USD Billion, 2019 - 2032)
Accounting Software, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)
Accounting Software, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
Report Attributes |
Details |
Market size value in 2024 |
USD 17.24 billion |
Revenue forecast in 2032 |
USD 38.27 billion |
CAGR |
10.40% from 2024 – 2032 |
Base year |
2023 |
Historical data |
2019 – 2022 |
Forecast period |
2024 – 2032 |
Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
Segments Covered |
By Component, By Type, By Deployment Type, By Enterprise Size, By End Use, By Region |
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
Key Companies |
Microsoft Corporation, Thomson Reuters, Oracle Corporation, Xero Ltd, Intuit, Inc., SAP SE, Infor Inc., Sage Group plc, Zeta Software LLC, Zoho Corporation, Red Wing Software Inc., Reckon Ltd., Saasu Pty Ltd, MYOB Group Pty Ltd, and Epicor Software Corporation |
For Specific Research Requirements |