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Business Accounting Software Market Analysis Highlights the Impact of COVID-19 (2020-2024) | Modernization of Finance Operations to boost the Market Growth | Technavio

LONDON–(BUSINESS WIRE)–#BusinessAccountingSoftwareMarket–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.


Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts

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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Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Business Accounting Software Market 2020-2024: Segmentation

Business Accounting Software Market is segmented as below:

  • Deployment

    • Cloud-based
    • On-premises
  • Region

    • North America
    • Europe
    • APAC
    • MEA
    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40282

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:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • 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

Customer Landscape

  • Overview

Geographic Landscape

  • 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

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • 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.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

     

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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