The general ledger 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.
General Ledger 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 general ledger accounting software market size has grown strongly in recent years. It will grow from $5.91 billion in 2023 to $6.45 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increased globalization, increased user experience, increased real-time reporting, customization, integration, regulatory compliance.
The general ledger accounting software market size is expected to see strong growth in the next few years. It will grow to $9.27 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to increasing customer retention, increasing pricing strategy, increasing customer acquisition. Major trends in the forecast period include subscription-based pricing models, data analytics and business intelligence, real-time reporting, enhanced security measures, mobile accessibility, integration with AI and automation.
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Scope Of General Ledger 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.
General Ledger Accounting Software Market Overview
Market Drivers –
The increasing adoption of cloud-based solutions is expected to propel the growth of the general ledger accounting software market going forward. Cloud-based solutions refer to applications, storage, on-demand services, computer networks, or other resources accessed with an internet connection through another provider’s shared cloud computing framework. The increasing adoption of cloud-based solutions is driven by the need for flexibility, cost efficiency, accessibility, security, collaboration, and innovation in today’s digital economy. Cloud-based general ledger accounting software streamlines financial processes, improves accessibility and collaboration, enhances security, and achieves cost savings compared to traditional on-premises solutions. For instance, in February 2024, according to reports published by AAG IT, a UK-based IT services company, Infrastructure as a Service (IaaS) public cloud service revenue increased from $343 billion in 2021 to $415 billion in 2022. Therefore, the increasing adoption of cloud-based solutions is driving the growth of the general ledger accounting software market.
Market Trends –
Major companies operating in the GEO satellite market are focusing on developing new technologies, such as the INSAT-3DS meteorological satellite, to monitor the earth’s surface. This aims to improve meteorological services across various sectors such as agriculture, aviation, and disaster management by offering more accurate and timely data for weather predictions and emergency response efforts. For instance, in February 2024, the Indian Space Research Organisation (ISRO), the national space agency of India, launched the INSAT-3D meteorological satellite. These satellites are equipped with various sensors and instruments to capture data such as temperature, humidity, wind speed, cloud cover, precipitation, and atmospheric composition. Meteorological satellites, when placed in geostationary orbit (GEO), provide continuous monitoring of weather patterns and atmospheric conditions, offering valuable data for weather forecasting and climate research on a global scale.
The general ledger accounting software market covered in this report is segmented –
1) By Product Or Type: On-Premises, Cloud-Based
2) By Pricing Model: One-time License, Subscription-based
3) By Application: Large Organizations, Small And Mid-size Organizations
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Regional Insights –
North America was the largest region in the general ledger accounting software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the general ledger 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 general ledger accounting software market are Oracle Corporation, QuickBooks Inc., SAP ERP Core Finance, Sage Group plc, Xero Limited, Infor Inc., Zoho Corporation Pvt. Ltd., Open Systems Accounting Software (OSAS), Multiview Financial Software, FinancialForce.com Inc., Soft Ledger Inc., Patriot Software LLC, Deskera ERP, ZipBooks Software Solutions Pvt. Ltd., Plooto Inc., Bench Accounting Inc., Abila MIP Fund Accounting, Acumatica Inc., Accounting Seed Inc., Technology Group International (TGI), AccuFund Inc., OneUp SAS, Wave Financial Inc., Trullion Ltd., Sage Fixed Assets
Table of Contents
1. Executive Summary
2. General Ledger Accounting Software Market Report Structure
3. General Ledger Accounting Software Market Trends And Strategies
4. General Ledger Accounting Software Market – Macro Economic Scenario
5. General Ledger Accounting Software Market Size And Growth
…..
27. General Ledger 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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