Pune, July 15, 2019 (GLOBE NEWSWIRE) -- The rapid shift from the traditional way of managing financial records to adopting an accounting information system is the key trend in the global Accounting Software Market.  Fortune Business Insights in a report, titled “Accounting Software Market, Size, Share And Global Trend By Component (Software, Services), Enterprise Size (Large Enterprises, Small And Medium Enterprises), Type (Spreadsheets, Erp, Custom Accounting Software, Tax Management), End-Use Industry (Bfsi, It And Telecommunication, Government And Public Sector, Automotive, Retail And Consumer Goods, Oil And Gas, Manufacturing, Healthcare, Construction And Real Estate, Others) And Geography Forecast Till 2026” published the above information. The growing demand for computerized accounting across different end-use industries is surging the adoption of accounting software. The report mentions that the global market was worth US$ 11,071.6 Mn in the year 2018. With the increasing adoption of accounting software, the market is expected to reach US$ 20,408.0 Mn by 2026. The global market is anticipated to register a remarkable CAGR of 8.02% during the forecast period.  

Browse Complete Report Details with Table of Content and Figures:
https://www.fortunebusinessinsights.com/industry-reports/accounting-software-market-100107

Rising Adoption of Technologically Driven Solutions in North America Propels Growth

In 2018, the market in North America was worth US$ 3,759.4 Mn. The region is expected to lead in the global Accounting Software Market through the forecast period. The U.S. government is increasingly spending on installing accounting software systems in private and public organizations. This, coupled with the strong presence of players in the U.S., is expected to create growth opportunities for the market in the forthcoming years.   

The rising adoption of modern technologies in Asia Pacific is driving the market. The penetration of business accounting apps is growing, which is enabling growth in the global market. The region is expected to register strong demand for enterprise relationship planning software to manage spreadsheets and understand tax management better. Moreover, the market generated a value of US$ 2635.9 Mn in the year 2018.

Demand for Custom Accounting Software Stimulated Growth in the Market

A lead analyst at Fortune Business Insights said, “Preference towards new and advanced accounting software is increasing than conventional software as they have become obsolete.” He added, “Conventional accounting software lacked technological competitiveness, which creates an environment for expansion and upgradation of the Accounting Software Market.” Accounting software helps to manage payroll and performs several other functions, saves time and money, and provides key insights to understand the business better. Over the forthcoming years, the user-interface of accounting software is expected to be more engaging to meet customer requirements.

Accounting software helps to increase efficiency as it has the ability to manage account receivables, account payables, and general ledger among others. Accounting calculations are complex and tedious, which compels businesses to purchase this software and perform calculations accurately without the use of manpower. Considering these factors, small businesses find it necessary to deploy accounting software.

With the emergence of advanced technology, the demand for cloud-based accounting software is expected to increase by 2026. This accounting software is enabled with cloud-based technology, which helps organizations to easily create reports and dashboards. In addition to this, it helps to effectively manage comprehensive financial reporting and analysis. These factors are positively impacting the market, which in turn, is resulting in rising adoption of accounting software.

Sample PDF https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/accounting-software-market-100107

RMS Joins Hands with M3 to Offer the Best Hotel Management Solutions

Oracle (NetSuite) (The U.S.), Zeta Software LLC (The U.K.), Epicor Software Corporation (The U.S.), Intuit Inc. (The U.S.), Acumatica Inc. (The U.S.), Xero Ltd. (New Zealand), Microsoft Corporation (The U.S.), SAP SE (Germany), Infor, Inc. (The U.S.), and Sage Group Plc. (The U.K.) are some of the leading players in the global Accounting Software Market. Several MNCs are either partnering or acquiring small or mid-scale companies to sustain in the market. Some of the developments initiated by companies are mentioned below:

• In April 2019, Infor acquired Efficient Frontiers, Inc. dba ReServe Interactive. This acquisition is aimed to help Infor expand its presence in stadiums, entertainment centers, convention centers and others. The company uses the ReServe’s cloud-based platform to offer advanced functionalities via Infor CloudSuite hospitality.
• In the same year and month, Xero announced the launch of a new subscription plan. This plan called “Payroll Only Subscription” helps small companies with processes such as Single Touch Payroll (STP).
• In April 2019, RMS partnered with a leading cloud-based financial platform called M3 to help its clients offer the best hotel management solutions.
• An accounting software provider called FreeAgent was acquired by Starling Bank to automate their tax and accounting management.

Key companies covered in the report

• Oracle (NetSuite) (The U.S.)
• Sage Group Plc. (The U.K.)
• Zeta Software LLC (The U.K.)
• Microsoft Corporation (The U.S.)
• Epicor Software Corporation (The U.S.)
• Xero Ltd. (New Zealand)
• SAP SE (Germany)
• Intuit Inc. (The U.S.)
• Infor, Inc. (The U.S.)
• Acumatica Inc. (The U.S.)

Speak to Analyst https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/accounting-software-market-100107

  Table of Content:

• Market Dynamics
  • Drivers, Restraints and Opportunities
    
    
• Key Insights
  • Macro and Micro Economic Factors
  • Key Technological Trends and Developments
    
    
• Global Accounting Software Market Analysis, Insights and Forecast, 2015-2026
  • Key Findings / Summary
  • Market Sizing Estimations and Forecasts – By Component (US$ Mn)
    • Software
      • Cloud
      • On-premise
    • Services
      • Managed
      • Professional
        
        
  • Market Sizing Estimations and Forecasts – By Enterprise Size (US$ Mn)
    • Large
    • Small & Medium Enterprises
      
      
  • Market Sizing Estimations and Forecasts – By Type (US$ Mn)
    • Spreadsheets
    • ERP
    • Custom Accounting Software
    • Tax Management Software
      
      
  • Market Sizing Estimations and Forecasts – By End-use Industry (US$ Mn)
    • Banking Financial Services and Insurance (BFSI)
    • IT & Telecommunication
    • Government & Public Sector
    • Automotive
    • Retail & Consumer Goods
    • Oil & Gas
    • Manufacturing
    • Healthcare
    • Construction & Real Estate
    • Others (Education, Media & Entertainment etc.)
      
      
  • Market Analysis, Insights and Forecast – By Geography (US$ Mn)
    • North America
    • Europe
    • Asia Pacific
    • Middle East and Africa
    • Latin America

• Competitive Analysis
• Strategic Recommendations

Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/accounting-software-market-100107

Browse Related Reports:

• Fleet Management Software Market, Size, Share and Global Trend by Component (Solutions, Services), Solutions (Operations Management, Vehicle Maintenance and Diagnostics, Performance Management, Fleet Analytics and Reporting), Services (Professional, Managed), Fleet Type (Commercial Fleet, Passengers Cars), Deployment (Cloud, On-Premise) and Geography Forecast till 2026
  
  
• Identity and Access Management Market Size, Share and Global Trend by Component (Provisioning, Directory Services, Single Sign-On, Others), By Deployment Model (Cloud, On-Premises), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By Industry Vertical (BFSI, IT and Telecom, Retail and Consumer Packed Goods, Others) And Geography Forecast Till 2026
  
  
• Contact Center Software Market Size, Share and Global Trend by Component (Solutions & Services), By Organization Size (Large & Small & Medium Enterprises (SMEs)), by Deployment (Cloud & On-Premises), By Vertical (Banking, Financial Services, and Insurance, IT and Telecom, Government, and others), and Geography Forecast till 2026
  
  
• Data Integration and Integrity Software Market Size, Share and Global Trend by Component (Tools (Solutions), Services), By Deployment Model (On-Premises, On-Demand), By Enterprise Size (Large Enterprises, Small and Medium Enterprises), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Others) And Geography Forecast Till 2026

About us:

Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. 

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data. 

At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact us:
Fortune Business Insights Pvt. Ltd. 
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
US :+1-424-253-0390
UK :+44-2071-939123
APAC :+91-744-740-1245
Email: sales@fortunebusinessinsights.com 
Website: https://www.fortunebusinessinsights.com

Attachment

• Increasing Demand for Cloud-Based Accounting Software