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Accounting and Budgeting Software Market Share

Report ID: GMI7905
Published Date: Jan 2024
Report Format: PDF

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Accounting and Budgeting Software Market Share

The Intuit Inc. and Xero dominate the market with over 15% of the revenue share. The competitive landscape for accounting and budgeting software is dynamic, marked by numerous providers offering diverse solutions. Intuit consistently invests in research and development to enhance the features and capabilities of QuickBooks. Regular updates and new releases ensure that their software remains competitive and aligned with evolving industry standards.

Xero emphasizes its cloud-based accounting solutions, offering users the flexibility of accessing financial data from anywhere. This approach aligns with the trend towards cloud computing, providing scalability and ease of use for businesses. Other market players are also focusing on customization options, integration capabilities, and advanced analytics to meet the evolving needs of businesses. The market's competitiveness fosters continuous innovation, driving improvements in automation, security, and scalability.

Accounting and Budgeting Software Market Companies

Major companies operating in the accounting and budgeting software industry are:

Acumatica
FreshBooks
Intuit Inc.
Microsoft Corporation
NetSuite (Oracle)
Sage Group
SAP SE
Wave Financial Inc.
Xero
Zoho Corporation

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of accounting and budgeting software reached USD 18.7 billion in revenue in 2023 and is set to observe 12% CAGR from 2024 to 2032, propelled by the rising seed funding for accounting platforms.

The on-premises segment accounted for more than 60% of the market share in 2023, owing to the rising need for enhanced control over server hardware and data configurations.

North America held more than 35% of the market share in 2023, due to the proliferation of cloud-based accounting software in the region.

The competitive landscape of the market includes prominent companies, such as Acumatica, FreshBooks, Wave Financial Inc., Intuit Inc., Microsoft Corporation NetSuite (Oracle), Sage Group, SAP SE, Xero, and Zoho Corporation.