Global Cloud Accounting Software
Market Report
2024
The cloud accounting software market was estimated at USD 4.61 billion in 2022 and is projected to reach USD 12.25 billion in 2030, growing at a CAGR of 13.1% during the forecast year
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The cloud accounting software market was estimated at USD 4.61 billion in 2022 and is projected to reach USD 12.25 billion in 2030, growing at a CAGR of 13.1% during the forecast year
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Cloud Accounting Software Market Sales Revenue 2022 | $ 4.61 Billion |
Global Cloud Accounting Software Market Sales Revenue 2030 | $ 12.25 Billion |
Global Cloud Accounting Software Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 13.1% |
Market Split by Type |
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Market Split by Application |
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Market Split by End-User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Cloud Accounting Software Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Cloud accounting software is a type of software that allows users to access and manage their accounts online with the help of cloud accounting software. Because it makes it simple for consumers to manage their finances from any device with an internet connection, this kind of software is crucial. The key advantages provided by online accounting enterprise software are cost-friendliness, flexibility of use, and integration of modern technology such as AI, big data, and data analytics tools. The surge in demand for cloud-based solutions among small and medium-sized businesses (SMEs), major corporations, and other users around the world is responsible for the expansion of the market for cloud accounting software
The Demand for cloud accounting solutions is rising as a result of the quickly spreading trend of digitization and automation in many different departments' works. Because of their advantages in terms of cost-effectiveness, scalability, and flexibility, small and medium-sized firms help the market. Because cloud accounting software is freely accessible and reasonably priced, the firm can make considerable time and financial savings. Additionally, by offering financial statements and tax returns, it aids private and public platforms with tax compliance, which will help small and medium firms grow the cloud-accounting software market. For instance, On 23 April 2023, clearcloudone, a leading software company launched its innovative cloud-based accounting software solution. This platform is made to provide companies with a simple, flexible, and safe way to manage their finances. Companies can simply streamline their accounting procedures and save money and time with paperless accounting and real-time financial data.
Concerns about data security and privacy, along with the slow transfer of data, are some of the main obstacles to the development of cloud accounting software. A failure to access data because of connection interruptions can significantly affect and even impede an organization's activities. Several organizations are likewise concerned about the security and privacy of data. These elements are probably going to restrict the market.
The pandemic's wide-ranging effects and severe consequences have a negative impact on the global cloud accounting software market. Travel bans, quarantines, and lockdowns, among other restrictions, have been imposed as a result of the unexpected epidemic and its effects. Processes are being hampered by these developments, which are leading to supply chain breaches, stock market inefficiencies, and vendor instability. These are continuously getting in the way of how industries operate normally. The impact on upstream, downstream, and midstream industries has been severe ever since the start of the global crisis. The strategy to deal with this issue and direct the global cloud accounting software market toward sustainable growth and orderly development.
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Major players are primarily focusing on launching and developing new products. In addition, companies are striving to come up with new strategies such as joint ventures, mergers & acquisitions to expand their footprints across the globe. To increase the market share, a number of significant industry participants are concentrating on developing an enhanced cloud accounting software market. For instance, on 6 June 2023, CINC systems announced the launch of TresRE, a treasury management solution that provides banking, software, and payments together for real estate managers who have long been forced to swivel chair between legacy accounting and banking solutions that aren’t connected by middleware
For instance, on 13 March 2023, TAC Insight launched the next generation of fast-weigh, a cloud software solution for bulk material accounting, logistics, and collaborative civil construction companies. The Next Generation of Fast-Weigh manages every aspect of bulk material sales and transportation, helping organizations of all sizes to reduce their IT footprint by moving to a secure cloud platform.
The unit4 leader in enterprise cloud applications for people-centric organizations announced a new platform where its ISV, reseller, and service partners can showcase their innovative, bespoke industry and vertical apps that link to unit4 ERP solutions
The fed now service system is the first and only digital instant payments system that is both created and run by the government. As a result, many banks see it as a s safer able to transfer money faster for consumers and businesses
The Sage group is one of the major providers of accounting, financial, HR, and payroll technology for small and mid-sized businesses and the company planned to provide customers with an enhanced experience and increased productivity, and smoother business processes through a series of significant product updates and improvements
FreshBooks, a leading prodder in the market of accounting software with paying customers in 160 + countries debt facility with BMO financial group and JP Morgan (JPM)
Top Companies Market Share in Cloud Accounting Software Industry: (In no particular order of Rank)
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The cloud accounting enterprise software domain is the market, due to the increasing adoption of cloud computing solutions by various sectors and the demand for advanced technology solutions is major in the region from SMEs and large enterprises
The current report Scope analyzes Cloud Accounting Software Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Cloud Accounting Software Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Cloud Accounting Software Industry growth. Cloud Accounting Software market has been segmented with the help of its Type, Application End-User, and others. Cloud Accounting Software market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The segment's expansion is attributed to the numerous productivity and cost-saving benefits made possible by cloud-based SaaS accounting solutions for multinational corporations. SaaS management platforms
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To streamline the requirements for SMEs and SMBs regarding budgeting, invoicing, billing, inventory management, and mobile payments. According to estimates, 82% of small firms utilize cloud accounting to handle their finances. SMEs are able to match the efficiency and operations pace necessary for competing in the modern business environment with the aid of cloud accounting solutions.
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The informational technology used in accounting such as trading financial instruments, provides the earnings report of a business. Moreover, with the help of accounting software companies are able to reduce issues including money laundering to others
For instance, in June 2023, Google Cloud launched the anti-money laundering AI (AML AI), an artificial intelligence (AI) powered product designed to help global financial institutions more efficiently detect money laundering. The amount of money laundered each year is estimated to be 2-5% of global GDP, or up to USD 2 trillion annually. Thus, with the help of this initiative, financial institutions are able to save themselves from related issues.
Senior Research Analyst at Cognitive Market Research
ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Cloud Accounting Software Market is witnessing significant growth in the near future.
In 2023, the Software as a service segment accounted for noticeable share of global Cloud Accounting Software Market and is projected to experience significant growth in the near future.
The Large Enterprise segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Epicor Software Corporation; SAP; Intuit Inc.; Sage Group plc; Oracle; Xero Limited; Microsoft; Acclivity Accounting Services; Infor; Dropbox; Workday , and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Software as a service, Customer Accounting Software, ERP, Tax Management, Application service providers, Browser-based |
Application | Large Enterprise, Small & Medium Size Enterprises |
End-User | IT, BFSI, Telecommunications, Healthcare, Government & Public Sector |
List of Competitors | Epicor Software Corporation; SAP; Intuit Inc.; Sage Group plc; Oracle; Xero Limited; Microsoft; Acclivity Accounting Services; Infor; Dropbox; Workday, Inc.; Unit4; Zoho Corporation Pvt. Ltd.; and YONYOU (HONGKONG) COMPANY LIMITED. |
This chapter will help you gain GLOBAL Market Analysis of Cloud Accounting Software. Further deep in this chapter, you will be able to review Global Cloud Accounting Software Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by End-User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Cloud Accounting Software market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Software as a service have a significant impact on Cloud Accounting Software market? |
What are the key factors affecting the Software as a service and Customer Accounting Software of Cloud Accounting Software Market? |
What is the CAGR/Growth Rate of Large Enterprise during the forecast period? |
By type, which segment accounted for largest share of the global Cloud Accounting Software Market? |
Which region is expected to dominate the global Cloud Accounting Software Market within the forecast period? |
Segmentation Level Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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