LONDON–(BUSINESS WIRE)–Technavio has been monitoring the business accounting software market and it is poised to grow by USD 1.64 billion during 2020-2024, at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Based on segmentation by deployment, which is the leading segment in the market?
- The cloud based deployment segment is expected to be the leading segment in the global market during the forecast period.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 6%, the incremental growth of the market is anticipated to be USD 1.64 billion.
- Who are the top players in the market?
- 2NDSITE Inc. (FreshBooks), Intuit Inc., Microsoft Corp., Oracle Corp., Priority Software Ltd., Red Wing Software Inc., SAP SE, The Sage Group Plc, Xero Ltd., and Zoho Corp. Pvt. Ltd. are some of the major market participants.
- What are the key market drivers and challenges?
- Modernization of finance operations and the emergence of business accounting mobile applications are the major factors driving the market. However, data security and privacy issues restraints the market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 2NDSITE Inc. (FreshBooks), Intuit Inc., Microsoft Corp., Oracle Corp., Priority Software Ltd., Red Wing Software Inc., SAP SE, The Sage Group Plc, Xero Ltd., and Zoho Corp. Pvt. Ltd. are some of the major market participants. The modernization of finance operations will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Business Accounting Software Market 2020-2024: Segmentation
Business Accounting Software Market is segmented as below:
- North America
- South America
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Business Accounting Software Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The business accounting software market report covers the following areas:
- Business Accounting Software Market Size
- Business Accounting Software Market Trends
- Business Accounting Software Market Analysis
This study identifies the emergence of business accounting mobile applications as one of the prime reasons driving the business accounting software market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Business Accounting Software Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist business accounting software market growth during the next five years
- Estimation of the business accounting software market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the business accounting software market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of business accounting software market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Deployment
- Market segments
- Comparison by Deployment placement
- Cloud-based – Market size and forecast 2019-2024
- On-premises – Market size and forecast 2019-2024
- Market opportunity by Deployment
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 2NDSITE Inc. (FreshBooks)
- Intuit Inc.
- Microsoft Corp.
- Oracle Corp.
- Priority Software Ltd.
- Red Wing Software Inc.
- SAP SE
- The Sage Group Plc
- Xero Ltd.
- Zoho Corp. Pvt. Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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