The Accounting And Budgeting Software Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Accounting And Budgeting Software Market:
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According to The Business Research Company’s Accounting And Budgeting Software Global Market Report 2024, The accounting and budgeting software market size has grown rapidly in recent years. It will grow from $21.34 billion in 2023 to $23.86 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to digitization of accounting, regulatory compliance needs, cost reduction initiatives, market competition.
The accounting and budgeting software market size is expected to see rapid growth in the next few years. It will grow to $37.44 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to cloud computing adoption, automation and ai integration, remote work, globalization and scalability, cybersecurity concerns. Major trends in the forecast period include mobile accounting applications, data analytics and predictive insights, integration with e-commerce platforms, user experience and design, sustainability reporting.
The increase in the number of startups is expected to propel the growth of the accounting and budgeting software market going forward. Startups refer to newly established companies or businesses in the early stages of development and growth. Accounting and budgeting software for startups streamlines financial management, aids in tracking expenses, optimizes budgets, and provides real-time insights crucial for informed decision-making during the early growth stages. For instance, in April 2023, according to the Center for Entrepreneurs’ business startup index report 2022, a UK-based entrepreneurship foundation, the registration for new businesses hit a record high in 2022, with a 4.53% increase from 2021, reaching 790,390 startup registrations in 2022. Therefore, the increase in the number of startups drives the accounting and budgeting software market.
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The accounting and budgeting software market covered in this report is segmented –
1) By Type: Accounting Software, Budgeting Software
2) By Deployment Type: On-Premise, Software as a Service (SaaS)
3) By Enterprise Size: Large Enterprises, Small And Medium Sized Enterprises
4) By Application: Personal Money Management, Business Money Management
5) By Industry Vertical: Information Technology(IT) And Telecom, Healthcare, Government And Public Sector, Energy And Utilities, Banking, Financial Services and Insurance (BFSI), Retail and Ecommerce, Manufacturing, Other Industry Verticals
Innovations in accounting tracking tools are a key trend gaining popularity in the accounting and budgeting software market. Major companies operating in the accounting and budgeting software market are introducing new accounting tracking and management tools to meet specific demands and sustain their position in the market. For instance, in June 2023, Ledgible, a US-based audit and accounting software company, launched its new NFT Suite, offering professional NFT portfolio management, tax and accounting tracking, reporting, and year-round planning. The suite is a full-service portfolio tracking tool for active investors, traders, and funds, providing easy access to Ethereum-based NFT portfolios. The platform tracks and presents realized and unrealized gain or loss data, enabling informed buying and selling decisions.
The accounting and budgeting software market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- Microsoft Corporation
- Prophix Software Inc.
- Oracle Corporation
- SAP SE
- Intuit Inc.
- Wolters Kluwer N.V
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