Accounting & Budgeting Software - Market Scope
Accounting & budgeting is a financial plan that includes both financial and non-financial information. Accounting & budgeting software is any computer program that helps an individual or business design, manage, monitor, and alters their budget.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | QuickBooks (United States), GnuCash (Canada), KMyMoney (Mozambique), Banktivity (United States), Moneyspire (United States), NetSuite (United States), Multiview (United States), Xledger Inc. (United States), SAP Anywhere (United States) and QuickBooks Enterprise (United States) |
CAGR | % |
Global Accounting & Budgeting Software - is a fragmented market due to the presence of various players. The companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
QuickBooks (United States), GnuCash (Canada), KMyMoney (Mozambique), Banktivity (United States), Moneyspire (United States), NetSuite (United States), Multiview (United States), Xledger Inc. (United States), SAP Anywhere (United States) and QuickBooks Enterprise (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Accounting & Budgeting Software - market by Type and Region with country level break-up.
On the basis of geography, the market of Accounting & Budgeting Software - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In November 2022, BILL, a prominent provider of financial automation software for small and midsize businesses (SMBs), acquired Finmark. Finmark is a reputable provider of financial planning software that offers streamlined financial planning and cash flow insights specifically designed for SMBs.
In September 2022, At the MONEY EXPERIENCE SUMMIT, MX, a prominent player in Open Finance, unveiled remarkable progress in financial data connectivity. They also announced the general availability of innovative new products and strategic implementation partners, further strengthening the MX platform. MX empowers leading financial institutions and fintech companies to securely access and utilize financial data, enabling them to create personalized money experiences, drive innovation, and foster industry collaboration.
Influencing Trend:
Need for Data Accuracy in Accounting & Budgeting
Market Growth Drivers:
Increasing Application of Accounting & Budgeting Software owing to Simple and Fast Data Entry Processes
Challenges:
Ensuring the accuracy and integrity of financial data is crucial for accounting and budgeting software
Restraints:
Risks Related to Manipulation of Statements of Accounts
Opportunities:
Rising Implementation of Accounting & Budgeting Software for Accurately Maintain Records of a Businesses.
Key Target Audience
Accounting & Budgeting Software - Developers, Regulatory Bodies, Potential Investors, Research and Development Institutes and Others