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Business Accounting Software Market Analysis, Size, share, growth, Global 2016-2024

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Global Business Accounting Software Market (2016-2024)- Research Nester

Global Business Accounting Software Market (2016-2024)- Research Nester

Business Accounting Software Market By Application (Manufacturing, Service, Retail) By Type (Commercial Accounting Software, Enterprise Accounting Software, Custom Accounting Software) By Distribution Channel (Offline Stores, Online Stores) and Region – Global Forecast to 2024

Business accounting software is a type of either online or offline application software which is used to keep tracks of accounting transactions or to manage money flowing in and out of a business. Business accounting software is a better solution for managing account of a business and it can easily manage accounts payables, account receivables, general ledger, business’s payroll and other business modules. Business accounting software has a number of advantages such as it ensures accurate financials of the business, time-saver, convincing, cheaper operation and higher overall productivity. Such benefits of business accounting software make this software more acceptable in small businesses. Some popular business accounting software includes zoho books, quick books, ava tax and dynamics are available in market.

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Global business accounting software market is envisioned to flourish at a compound annual growth rate (CAGR) of 6.3% over the forecast period i.e.2017-2024. The global market for business accounting software was valued at revenue of USD 3.2 Billion in 2016 and is projected to reach at valuation of USD 4.4 Billion by the end of forecast period. Rapid emergence of business accounting mobile application and growing demand for effective way to manage accounts of small businesses are expected to be the dynamic factors behind the growth of global business accounting software market.

 

Geographically, global business accounting software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America has been the dominating region the global business accounting software market with highest percentage share. Further, North America region is expected to witness a robust growth during the forecast period. Further, this growth of business accounting software market can be attributed to factors such as rising penetration of business accounting mobile applications and higher adoption of modern technology in this region.

 

Moreover, Asia Pacific region is anticipated to be fastest growing market for business accounting software during the forecast period. Asia Pacific region is also expected to grow at a robust pace owing to the factors such as emergence of small businesses and growing investment in business sector are likely to bolster the growth of global business accounting software market in Asia Pacific region.

Market Segmentation

Our-in depth analysis of the global business accounting software market includes the following segments:

By Region

Global business accounting software market is further classified on the basis of region as follows: North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis, Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis, Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis, Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis. Middle East and Africa (GCC, North Africa, South Africa and Rest of Middle East) Market size, Y-O-Y growth & Opportunity Analysis

Growth Driver & Challenges

Global business accounting software market is primarily driven by growing demand for better account managing solution in business & enterprises coupled with increasing penetration of business accounting mobile application to manage functional modules of business. Further, increasing adoption of cloud accounting software to manage finances is also a major factor which is driving the growth of global market of business accounting software.

Moreover, business accounting software has ability to manage business modules such as account receivable, billing & invoicing, sales & purchase, account payables, business payrolls and reporting. These abilities of business accounting software making this software more acceptable in business sector, especially in small businesses. Considering all these factors, global business accounting software market is expected to be growing at a satisfactory pace in near future.

Furthermore, introduction of optical character recognition technology (a technology that can convert printed material into digital data) in the business accounting software is a major factor which is expected to fuel the demand for business accounting software in business sector. In addition to this, rising inclination of business sector towards green IT technology is also a major factor which is likely to drive the growth of global business accounting software market in near future.

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However, compatibility of business accounting software with change in technology is a major challenge to the market of business accounting software. Additionally, increasing commoditization of business accounting software is major factor which is envisioned to dampen the growth of global business accounting software market in near future.

Key Players

Microsoft, Company Overview, Key Product Offerings, Business Strategy, SWOT Analysis, Financial, Fresh Books, Acclivity, Intacct, Intuit, Oracle, Red Wing Software, Sage Group, Zoho, Xero, Expensify

To Know More About This Research, Kindly Visit:

http://www.researchnester.com/reports/business-accounting-software-market-global-demand-analysis-opportunity-outlook-2024/435

For Table of Content & Free Sample Report Contact:

Name:-Ajay Daniel

Email: ajay.daniel@researchnester.com

U.S. +1 646 586 9123

U.K. +44 203 608 5919

Website:-www.researchnester.com

Ajay Daniel

Research Nester is a leading service provider for strategic market research and consulting, serving clients from 120+ countries across the globe. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.

Through our robust, unbiased extensive primary and secondary research, we help organizations to understand current and future market trends, thus letting them making a prolonged yet dynamic financial investment. We never believe in working as a consultant for our clients but as a business partner, helping the business to grow with a positive wave. With our high level of in-depth industry knowledge and analysis, you always can rely upon us for current market estimation and respective future market forecast for every geographical region.

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