The budgeting software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Budgeting Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The budgeting software market size has grown strongly in recent years. It will grow from $1.45 billion in 2023 to $1.55 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increasing adoption of cloud computing, rising complexity in financial management, regulatory compliance requirements, globalization of businesses, awareness and education.
The budgeting software market size is expected to see strong growth in the next few years. It will grow to $2.02 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to ai and automation integration, increased focus on data security, expansion of sme adoption, integration with erp systems, emphasis on real-time financial insights. Major trends in the forecast period include technology advancements, focus on cost efficiency, collaborative and remote work trends, integration with erp systems, collaborative budgeting.
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Scope Of Budgeting Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Budgeting Software Market Overview
Market Drivers –
The rising adoption of automation in financial processes is expected to propel the growth of the budgeting software market going forward. Financial processes encompass the systematic procedures and activities within an organization for managing and controlling its financial resources, including budgeting, accounting, reporting and analysis, to ensure financial stability and transparency. Budgeting software streamlines financial processes by automating budget creation, expense tracking and forecasting, enhancing accuracy and efficiency, while providing insightful financial insights for informed decision-making. For instance, in March 2023, according to Finance Leaders Survey 2023 of 700 finance executives in North America and Europe by Prophix, a Canada-based financial management platform provider, over 6 in 10 of finance leaders plan on having half of their duties automated by the end of 2023. Additionally, 27% of finance leaders are already automating half of their practices by the end of this year. Therefore, the rising adoption of automation in financial processes will drive the growth of the budgeting software market.
Market Trends –
Major companies in the budgeting software market are developing innovative products for enhanced user experience, streamlined automation and real-time data access to improve financial decision-making. Streamlined automation and real-time data access refer to the use of technology and software to automate processes and enable organizations to access and analyze data in real-time or near-real-time. For instance, in August 2023, Navan, a US-based expansion and corporate management company, launched Budgets, an innovative new budgeting tool for finance leaders that allows users to create, manage and track budgets directly within the platform, to monitor expenses and identify areas where cost savings can be made. With the new feature, the finance team can establish budgets and spending parameters directly in the dashboard, grant budget access to managers or budget owners and monitor expenditure gains in real time.
The budgeting software market covered in this report is segmented –
1) By Type: Web Based Software, Mobile Based Software
2) By Deployment: On-Premise, Cloud
3) By Enterprise Size: Large Enterprises, Medium Enterprises, Small Enterprises
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Regional Insights –
North America was the largest region in the budgeting software market in 2023. The regions covered in the budgeting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the budgeting software market report are NetSuite Inc., SAP SE, Workday Inc., Wolters Kluwer N.V., Blackbaud Inc., Anaplan Inc., insightsoftware, Deltek Inc., Sage Intacct Inc., Prophix Software Inc., Planful Inc., Vena Solutions Inc., Datarails Ltd., Scoro Software Ltd., Questica Inc., Centage Corporation, Team Labs Inc., Mosaic Tech, Xlerant Inc., Multiview Corporation, CostPerform, Maxiplan Technology Limited, Project Insight Inc., Budgyt Inc., Riskturn Inc., IDU, Jirav Inc., Yooz Inc., PlanGuru LLC, OnPlan
Table of Contents
1. Executive Summary
2. Budgeting Software Market Report Structure
3. Budgeting Software Market Trends And Strategies
4. Budgeting Software Market – Macro Economic Scenario
5. Global Budgeting Software Market Size and Growth
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32. Global Budgeting Software Market Competitive Benchmarking
33. Global Budgeting Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Budgeting Software Market
35. Budgeting Software Market Future Outlook and Potential Analysis
36. Appendix
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