Industry Background:
Cloud accounting software is a type of application software that records and processes accounting transaction within a functional module such as journal, account receivable, account payable, general ledger, payroll, and trial balance. Cloud software is a platform that allows accessing data with an internet connection. Cloud provides constant access in any location, any time. The market for cloud accounting software is expected to witness a high growth in the near future owing to increasing demand for smart technological solutions in the accounting software and rising use of big data and analytics.This growth is primarily driven by Rise in Cloud Accounting Software Owing to the Host of Benefits that it offers
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Internet Software & Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Intuit Inc. (United States), Sage Group Plc. (United Kingdom), Microsoft Corporation (United States), SAP (Germany), Epicor Software Corporation (United States), Oracle (NetSuite) (United States), Xero Ltd (New Zealand) and Infor (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
April 2019 - Infor, a global leader in business cloud software specialized by industry, announced the completed acquisition of Efficient Frontiers, Inc. dba ReServe Interactive., headquartered in Livermore, Calif., ReServe Interactive is a leading provider of cloud-based sales and catering, restaurant reservations, and floor management software that serves the restaurant, sports and entertainment, event center, golf and country club, and hotel markets in the U.S. and Canada. ReServe Interactive’s highly scalable, dynamic, and intuitive sales and catering solution will enable Infor to offer more functionality through Infor CloudSuite Hospitality, and increase Infor’s presence in non-hotel hospitality venues such as entertainment centers, stadiums, wineries and conference, and convention centers.
Influencing Trend:
Increasing Need to Manage Documents and Ensure Security of Sensitive Information
Market Growth Drivers:
Rise in Cloud Accounting Software Owing to the Host of Benefits that it offers, Increase Adoption of Cloud-based Applications and Ease of Integration with Existing Software Platforms
Challenges:
Lack of Skilled Workforce
Restraints:
Security Threats like Data Hacking, Related to Cloud-Based Accounting Software
Opportunities:
Increase in Use of Web-Based Interface
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Cloud Accounting Software Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Cloud Accounting Software Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Cloud Accounting Software players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Cloud Accounting Software Study Sheds Light on
The Cloud Accounting Software Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Cloud Accounting Software industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Cloud Accounting Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.