What is Cloud Accounting Solution Market?
Cloud accounting solution is a type of application 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.
The market study is being classified by Type (Browser-based, SaaS and Application Service Providers (ASPs)), by Application (SMEs, Large Enterprises and Other Users) and major geographies with country level break-up.
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) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Workday, Unit4, Yonyou and Kingdee.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Analyst at AMA have segmented the market study of Global Cloud Accounting Solution market by Type, Application and Region.
On the basis of geography, the market of Cloud Accounting Solution has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rise in Cloud Accounting Solution Owing to the Host of Benefits that it offers
- Increase Adoption of Cloud-based Applications
- Ease of Integration with Existing Software Platforms
- Increasing Need to Manage Documents and Ensure Security of Sensitive Information
- Security Threats like Data Hacking, Related to Cloud-Based Accounting Solution
- Increase in Use of Web-Based Interface
- Lack of Skilled Workforce
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.
Key Target AudienceAssociation & Industrial Bodies, Solution Provider, Professional Service Provider, Government & Research Organization, IT Companies, Cloud Service Providers, System Integrators, Reseller & Distributors and Investor & Venture Capitalist
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Cloud Accounting Solution Market?
"Rise in Cloud Accounting Solution Owing to the Host of Benefits that it offers
" is seen as one of major growth factors of Cloud Accounting Solution Market in years to come.
2. Can we have customized study for Cloud Accounting Solution Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Cloud Accounting Solution Market?
will lead Cloud Accounting Solution Market in coming years.