Global Accounting Software| Top Players: Key Findings for Understanding Market Dynamics

The global accounting software market was projected to grow at a CAGR of around 8.5% during the forecast period of 2021-2026. The market was expected to reach a value of approximately USD 12.97 billion by 2026, up from USD 8.13 billion in 2020. The global accounting software market is experiencing rapid growth owing to the increasing demand for automation of financial processes, growing adoption of cloud-based accounting software, and the need for real-time financial visibility and control in organizations. Accounting software helps in streamlining financial operations such as payroll, invoicing, and tracking expenses, thereby reducing manual errors and enhancing overall efficiency. Additionally, the rise of small and medium-sized businesses, the need for compliance with financial regulations, and the increasing popularity of mobile accounting solutions are further fueling the growth of the market.

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Key Players Of The Market

  • Intuit Inc.
  • Sage Group Plc
  • Oracle Corporation
  • Microsoft Corporation
  • SAP SE,
  • Infor Inc.
  • Epicor Software Corporation
  • Xero Limited
  • Zoho Corporation
  • FreshBooks

Market Trends

  • Cloud-based accounting software is gaining popularity
  • Integration with other software
  • Artificial Intelligence and automation
  • Mobile accounting
  • Increased focus on cybersecurity

Key Drivers Of The Market

  • Increasing demand for automation of accounting processes.
  • Growing adoption of cloud-based accounting software solutions.
  • Government initiatives to encourage the adoption of accounting software.
  • The need for cost-effective and efficient accounting solutions.
  • Rising demand for accounting software from small and medium-sized enterprises (SMEs).

Recent Developments Of The Market

The accounting software market has been witnessing several developments in recent years. Vendors are focused on developing advanced software solutions that can handle complex accounting tasks with ease. There is a growing trend towards cloud-based accounting software, which offers users greater flexibility and accessibility to their data. Additionally, vendors are also investing heavily in developing mobile accounting software applications to meet the changing needs of customers. The market is also seeing an increasing number of partnerships and collaborations between accounting software vendors and other technology companies, which is leading to the integration of accounting software with other business applications.


  • Increasing adoption of cloud-based accounting software solutions.
  • Growing demand for accounting software in small and medium-sized enterprises (SMEs).
  • Emergence of artificial intelligence (AI) and machine learning (ML) in accounting software, providing advanced analytics and reporting capabilities.
  • Rising demand for mobile-compatible accounting software for remote work and on-the-go access.
  • Expansion of accounting software into new industry verticals, such as healthcare and hospitality.

Covid-19 Impact

  • The pandemic has accelerated the adoption of cloud-based accounting software as more businesses move their operations online.
  • Small businesses have been hit hard by the pandemic, which has led to an increased demand for cost-effective accounting software solutions.
  • The remote work trend has driven the need for accounting software that can be accessed from anywhere and on any device.
  • The economic uncertainty caused by the pandemic has made financial management more important than ever, leading to increased demand for accounting software.
  • The pandemic has also led to delays in software development and implementation due to supply chain disruptions and remote work challenges.

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Market Segmentation

  • By Deployment Type
  • By Enterprise Size
  • By End-Use Industry
  • By Region

Geographical Segmentation

  • North America:
    The United States
  • Europe:
    The United Kingdom
    The rest of Europe.
  • Asia Pacific:
    South Korea
    The rest of Asia Pacific.
  • Latin America:
    The rest of Latin America.
  • Middle East and Africa:
    Saudi Arabia
    South Africa
    The rest of Middle East and Africa.

Regions Of The Market

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

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TOC Of The Market

  • Executive Summary
  • Introduction
  • Research Methodology
  • Market Dynamics
  • Global Accounting Software Market Analysis and Forecast, By Deployment Type
  • Global Accounting Software Market Analysis and Forecast, By Organization Size
  • Global Accounting Software Market Analysis and Forecast, By Application
  • Global Accounting Software Market Analysis and Forecast, By Region
  • Competitive Landscape
  • Conclusion and Future Outlook
  • Appendix

FAQs Of The Market

  • What is the CAGR and Forecast of Accounting Software Market?
    The global accounting software market was projected to grow at a CAGR of around 8.5% during the forecast period of 2021-2026.
  • What is accounting software?
    Accounting software is a computer program that assists individuals and businesses in managing financial transactions and accounts.
  • What are the benefits of using accounting software?
    Accounting software helps in saving time, increasing accuracy, improving financial reporting, and reducing errors.
  • Who are the major players in the global accounting software market?
    The major players in the global accounting software market include Intuit, Sage, Oracle, Microsoft, Xero, SAP, and Infor.

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