The cloud accounting software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cloud Accounting Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cloud accounting software market size has grown strongly in recent years. It will grow from $4.48 billion in 2023 to $4.90 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to business continuity planning, data accessibility, scalability requirements, cost reduction, globalization.
The cloud accounting software market size is expected to see strong growth in the next few years. It will grow to $7.09 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to collaborative ecosystems, environmental sustainability initiatives, regulatory compliance updates, cybersecurity enhancements. Major trends in the forecast period include integration with emerging technologies, mobile-first design, real-time collaboration tools, blockchain integration, ai-driven automation.
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Scope Of Cloud Accounting Software Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cloud Accounting Software Market Overview
Market Drivers –
The increasing household income is expected to propel the growth of the cloud accounting software market going forward. It refers to an upward trend or growth in all household members’ total earnings or revenue over a specified period. Cloud accounting software allows service providers to access financial data and perform accounting tasks from anywhere with an internet connection. It offers real-time updates and enables timely decision-making, enhances accuracy in financial reporting, and improves overall operational efficiency. For instance, in September 2022, according to the United States Census Bureau, a US-based government agency, the real median household income was $70,784 in 2021, and income inequality increased by 1.2% between 2020 and 2021. Further, in January 2022, according to S&P Global, a US-based publicly traded corporation, the median household income is expected to increase 12.1% to $81,230 in 2027 from $72,465 in 2022 in the US. Therefore, increasing household income is driving the growth of the cloud accounting software market.
Market Trends –
The major companies operating in the cloud-based workload scheduling software market are focused on introducing innovative solutions, such as resource management and job scheduling platforms, to optimize cloud computing operations. Resource management and job scheduling platforms optimize resource allocation and task execution efficiency within cloud computing environments. For instance, in December 2023, Google Cloud, a US-based technology company, launched the Dynamic Workload Scheduler, a cloud-based workload scheduling software designed specifically for the AI hypercomputer. It optimizes the utilization and cost-effectiveness of AI/ML (artificial intelligence or machine learning) resources, including TPUs (tensor processing units) and NVIDIA GPUs (graphics processing units), by efficiently scheduling workloads like training and fine-tuning tasks. Flex Start Mode allows users to request GPU and TPU capacity for tasks like model fine-tuning and shorter training jobs when needed, automatically provisioning VMs and prioritizing shorter requests to optimize resource usage and costs. The scheduler leverages Google Borg technology, known for real-time scheduling capabilities within the Google ML Fleet, offering enhanced flexibility and efficiency for customers.
The cloud accounting software market covered in this report is segmented –
1) By Type: Browser-Based, Application Service Providers , Software As A Service (SaaS)
2) By Enterprise Size: Small and Medium Enterprises, Large Enterprises
3) By End-user : Information Technology, Banking, Financial Services, And Insurance, Telecommunications, Healthcare, Government And Public Sector
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Regional Insights –
North America was the largest region in the cloud accounting software market in 2023. The regions covered in the cloud accounting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the cloud accounting software market are Microsoft Corporation, International Business Machine Corporation, Oracle Corp., SAP SE, Intuit Inc., Workday Inc., Dropbox Inc., Sage Group plc, BMC Software Inc., Yonyou Company Ltd., Xero Limited, Epicor Software Corporation, Infor Global Solutions, Zoho Corporation Pvt. Ltd., Verint Systems Inc., Kingdee International Software Group (Hong Kong) Co. Ltd., HelpSystems Inc., Carbonite Inc., FinancialForce.com Inc., Reckon Limited, Robocloud Technologies Private Limited, Apptivo Inc., KashFlow Software Ltd., Wave Financial Inc., MEGI Cloud Accounting Software
Table of Contents
1. Executive Summary
2. Cloud Accounting Software Market Report Structure
3. Cloud Accounting Software Market Trends And Strategies
4. Cloud Accounting Software Market – Macro Economic Scenario
5. Cloud Accounting Software Market Size And Growth
…..
27. Cloud Accounting Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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