Global Small Business Accounting Software Market Size by Type (Cloud-Based and On-Premises), by Application (BFSI, Manufacturing, Retail & Wholesale, Food & Beverages, Construction and Others), by Region and Forecast 2018 to 2023
Oct 2019
Total Pages: 70
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The global small business accounting software market was valued at 8322.1 Million in 2018 and is likely to surge during the forecast period owing to the demand for computerized accounting. Over the previous few decades, the amount of small companies around the world has gone up. Ease in policies to start a company, pushing governments to boost their economic growth, declining employment opportunities has led to the increased development of new companies around the world. Due to a lesser number of jobs, people start their ventures to earn money and fulfill their daily needs. This has increased in the number of small and micro firms leading to increased demand for small business accounting software’s.
.png "Global Small Business Accounting Software Market, 2013-2023 (USD Million)")
In addition to the aforementioned factors, increasing demand for advanced automated finance processes propelling the growth of this market. A huge amount of data present at sources like loan applications, social media, in-stores, online bank transactions need to be collected and analyzed to have relevant operational insights. Therefore, financial organizations are adopting big data analytics solutions like Amazon Redshift and Amazon Kinesis. Later it is integrated with business accounting software which improves the organization's data management processes. These benefits companies in transforming unstructured data into structured and meaningful data.
However, some factors may hinder the market growth like, as the cloud-based systems are cheaper and accessible from anywhere and at any time at the same time it is also vulnerable to cyber-attacks. Hackers can hack the system and steal important information which is a great threat for the company and the software supplier at the same time. This is a major challenge for small business accounting software firms.
Key Segments of the Global Small Business Accounting Software Market
Type Overview, 2015-2025 (USD Million)
- Cloud-Based
- On-Premises
Application Overview, 2015-2025 (USD Million)
- BFSI
- Manufacturing
- Retail & Wholesale
- Food & Beverages
- Construction
- Others
Regional Overview, 2015-2025 (USD Million)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Russia
- Spain
- Rest of Europe
- Asia Pacific
- India
- Japan
- China
- South Korea
- Australia
- South East Asia
- Rest of APAC
- Middle East and Africa
- Egypt
- South Africa
- Israel
- Turkey
- GCC
- Rest of MEA
- CSA
- Brazil
- Argentina
- RCSA
- Total
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Small Business Accounting Software market.
- Be prepared for how Small Business Accounting Software trends and the global Small Business Accounting Software market will be impacted by technological factors over the next few years
- Ensure you remain competitive as new innovations and products begin to enter the market.
What does the report include?
- The study on the global Small Business Accounting Software market includes qualitative factors such as drivers, restraints, and opportunities
- Additionally, the market has been evaluated using the Porter’s 5 Forces and Value Chain Analysis.
- The study covers the qualitative and quantitative analysis of the market segmented on the basis of type and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
- The study includes the profiles of key players in the market with a significant Global and/or regional presence.
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global Small Business Accounting Software market. The report will benefit:
- Executives of Small Business Accounting Softwares solution providers
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to the global Small Business Accounting Software market.
- Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative global Small Business Accounting Software solutions.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The global small business accounting software market is growing optimistically and is expected to do same during the forecast period. As account software increases efficiency when compared to conventional business accounting solutions as it easily manage account payables, business payroll, account receivables, general ledger and other business modules. In addition to that, features like time-saving, higher overall productivity ensure accurate financials and subsequently drive the demand of the market.
Nowadays, accounting software even interoperates with supply chain management, human resource management, Customer Relationship Management (CRM), and dashboards and reporting applications. Most of the leading solutions offer real-time business visibility through easy to create reports and dashboards. Comprehensive financial consolidation, analysis and reporting across different business entities are increasing drastically. To operate finance, organizations, therefore, embracing accounting software.
Type Segment
Based on type, small business accounting software market is bifurcated into the Cloud-based and On-Premises segment. The market size by type is dominated by the cloud-based segment. As most of the companies involved offer accounting software’s on rent. The model adopted by them is cloud-based. The cloud-based business accounting software’s market valued USD 7,386.2 million in 2018 which is further expected to grow during the forecast period. The major reason behind increased adoption of the cloud-based model as compared to the on-premise model are low investment costs, and little or no need of technical knowledge as the company who is providing the software handles all the required support activities. Data is also backed up by the software providers thus losing data is also not possible which takes the data security to the next level.
Application Segment
The small business accounting software market by application has been segmented into six different application industries which include BFSI, Manufacturing, Retail & Whole Sale, Food & Beverages, Construction, and Others. The application of small business accounting software is highest in the retail & wholesale industry followed by construction and manufacturing. The service sector saw a huge growth in the number of small businesses over the last few decades. The highest number of new small businesses came up in the professional, scientific, and technical services in North America, Europe, and the Asia Pacific as well. Hence the market size of other sub-segment is large in the application segments. The others include services, healthcare, transportation and warehousing, arts entertainment recreation along with others. The food and beverage industry is expected to grow at the fastest CAGR of 10.04% during the forecast period 2019 to 2023. The number of small business coming up in this field is high as compared to others and the adoption of small business accounting software is expected to increase in this industry.
The small business accounting software market is dominated by the Asia Pacific region in 2018 by occupying a share of 65.28% in 2018 and is expected to maintain the dominance by occupying highest share during the forecast period. Presence of emerging and growing markets such as India, China, and Southeast Asian countries is one of the most prevalent reason. China and India had the highest number of small businesses across the globe. In the year 2018, China had about 74 million and India had about 63.31 million small businesses.
.png "Small Business Accounting Software Market Size, 2013-2023 (USD Million)")
The market is highly competitive and dominated by companies such as Intuit, Xero, Sage Group PLC, Wave Financial Inc., Zoho Corporation Pvt. Ltd., Fresh Books, Kashoo, FreeAgent, ZipBooks, ScaleFactor, MYOB and Reckon One. To remain on competitive edge of market, companies acquire, merge and partners with other companies. For instance, Intuit decalared its acquisition of Origami Logic, makers of an advanced data integration, analytics platform and ingestion. Origami Logic is based out of Silicon Valley which developed technology to analyze and gain insights from different data sets. This development will benefit Intuit to become an AI driven expert platform.
The global small business accounting software market was valued at 8322.1 Million in 2018 and is likely to surge during the forecast period owing to the demand for computerized accounting. Over the previous few decades, the amount of small companies around the world has gone up. Ease in policies to start a company, pushing governments to boost their economic growth, declining employment opportunities has led to the increased development of new companies around the world. Due to a lesser number of jobs, people start their ventures to earn money and fulfill their daily needs. This has increased in the number of small and micro firms leading to increased demand for small business accounting software’s.
In addition to the aforementioned factors, increasing demand for advanced automated finance processes propelling the growth of this market. A huge amount of data present at sources like loan applications, social media, in-stores, online bank transactions need to be collected and analyzed to have relevant operational insights. Therefore, financial organizations are adopting big data analytics solutions like Amazon Redshift and Amazon Kinesis. Later it is integrated with business accounting software which improves the organization's data management processes. These benefits companies in transforming unstructured data into structured and meaningful data.
However, some factors may hinder the market growth like, as the cloud-based systems are cheaper and accessible from anywhere and at any time at the same time it is also vulnerable to cyber-attacks. Hackers can hack the system and steal important information which is a great threat for the company and the software supplier at the same time. This is a major challenge for small business accounting software firms.
Key Segments of the Global Small Business Accounting Software Market
Type Overview, 2015-2025 (USD Million)
- Cloud-Based
- On-Premises
Application Overview, 2015-2025 (USD Million)
- BFSI
- Manufacturing
- Retail & Wholesale
- Food & Beverages
- Construction
- Others
Regional Overview, 2015-2025 (USD Million)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Russia
- Spain
- Rest of Europe
- Asia Pacific
- India
- Japan
- China
- South Korea
- Australia
- South East Asia
- Rest of APAC
- Middle East and Africa
- Egypt
- South Africa
- Israel
- Turkey
- GCC
- Rest of MEA
- CSA
- Brazil
- Argentina
- RCSA
- Total
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Small Business Accounting Software market.
- Be prepared for how Small Business Accounting Software trends and the global Small Business Accounting Software market will be impacted by technological factors over the next few years
- Ensure you remain competitive as new innovations and products begin to enter the market.
What does the report include?
- The study on the global Small Business Accounting Software market includes qualitative factors such as drivers, restraints, and opportunities
- Additionally, the market has been evaluated using the Porter’s 5 Forces and Value Chain Analysis.
- The study covers the qualitative and quantitative analysis of the market segmented on the basis of type and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
- The study includes the profiles of key players in the market with a significant Global and/or regional presence.
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global Small Business Accounting Software market. The report will benefit:
- Executives of Small Business Accounting Softwares solution providers
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to the global Small Business Accounting Software market.
- Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative global Small Business Accounting Software solutions.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Chapter 1 Scope of the Report
1.1 Market Introduction
1.2 Product Overview and Scope of Small Business Accounting Software
1.3 Research Objectives
1.4 Classification of Small Business Accounting Software
1.5 Assumptions
Chapter 2 Executive Summary
2.1 Word Market Overview
2.1.1 Global Small Business Accounting Software market Size 2013-2023
2.1.2 Small Business Accounting Software Market Size & CAGR by Region 2018-2023
2.2 Small Business Accounting Software Segment by Type
2.2.1 Market Size By Type
2.2.1.1 Small Business Accounting Software Market Size by Type
2.2.1.2 Global Small Business Accounting Software Market Share by Type (2018-2025)
2.2.2 Cloud Based
2.2.3 On-Premise
2.3 Small Business Accounting Software Segment by Application
2.3.1 Market Size By Application
2.3.1.1 Small Business Accounting Software Market Size by Application
2.3.1.2 Global Small Business Accounting Software Market Share by Application (2018-2025)
2.3.2 BFSI
2.3.3 Manufacturing
2.3.4 Retail & Wholesale
2.3.5 Food & Beverages
2.3.6 Construction
2.3.7 Others
Chapter 3 Global Small Business Accounting Software Market Size by Players
3.1 Global Small Business Accounting Software Market Share by Players
3.2 Global Small Business Accounting Software Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis (CR5 and HHI)
3.3.1 Competitive Landscape Analysis
3.3.1.1 New Product Development
3.3.1.2 Partnerships
3.3.1.3 Merger & Acquisition
3.3.1.4 Innovations
3.3.1.5 Expansions
Chapter 4 Global Small Business Accounting Software Market, By Region
4.1 Global Small Business Accounting Software Market Size by Regions
4.2 North America Small Business Accounting Software Market Size
4.3 APAC Small Business Accounting Software Market Size
4.4 Europe Small Business Accounting Software Market Size
4.5 Middle East & Africa Small Business Accounting Software Market Size
4.6 South America Small Business Accounting Software Market Size
4.7 Global Small Business Accounting Software Market Share by Region
Chapter 5 North America Small Business Accounting Software Market
5.1 North America
5.1.1 North America Small Business Accounting Software Market Size by Type
5.1.2 North America Small Business Accounting Software Market Size by Application
5.2 United States
5.2.1 United States Small Business Accounting Software Market Size
5.3 Canada
5.3.1 Canada Small Business Accounting Software Market Size
5.4 Mexico
5.4.1 Mexico Small Business Accounting Software
Chapter 6 Asia Pacific Small Business Accounting Software Market
6.1 Asia Pacific
6.1.1 Asia Pacific Small Business Accounting Software Market Size by Type
6.1.2 Asia Pacific Small Business Accounting Software Market Size by Application
6.2 China
6.2.1 China Small Business Accounting Software Market Size
6.2.2 India Small Business Accounting Software Revenue
6.3 Japan
6.3.1 Japan Small Business Accounting Software Market Size
6.3.2 South Korea Small Business Accounting Software Market Size
6.4 South East Asia
6.4.1 South East Asia Small Business Accounting Software Market Size
6.4.2 Australia Small Business Accounting Software Market Size
6.5 Others
6.5.1 APAC Other Small Business Accounting Software Market Size
Chapter 7 Europe Small Business Accounting Software Market
7.1 Europe
7.1.1 Europe Small Business Accounting Software Market Size by Type
7.1.2 Europe Small Business Accounting Software Market Size by Application
7.2 Germany
7.2.1 Germany Small Business Accounting Software Market Size
7.3 France
7.3.1 France Small Business Accounting Software Market Size
7.4 United Kingdom
7.4.1 United Kingdom Small Business Accounting Software Market Size
7.4.2 Italy Small Business Accounting Software Market Size
7.5 Russia
7.5.1 Russia Small Business Accounting Software Market Size
7.5.2 Spain Small Business Accounting Software Market Size
7.6 Others
7.6.1 Europe Others Small Business Accounting Software Market Size
Chapter 8 Middle East & Africa Small Business Accounting Software Market
8.1 Middle East & Africa
8.1.1 MEA Small Business Accounting Software Market Size by Type
8.1.2 MEA Small Business Accounting Software Market Size by Application
8.2 Egypt
8.2.1 Egypt Small Business Accounting Software Market Size
8.2.2 South Africa Small Business Accounting Software Market Size
8.3 Israel
8.3.1 Israel Small Business Accounting Software Market Size
8.3.2 Turkey Small Business Accounting Software Market Size
8.4 GCC
8.4.1 GCC Small Business Accounting Software Market Size
Chapter 9 South America Small Business Accounting Software Market
9.1 South America
9.1.1 South America Small Business Accounting Software Market Size by Type
9.1.2 South America Small Business Accounting Software Market Size by Application
9.2 Brazil
9.2.1 Brazil Small Business Accounting Software Market Size
9.2.2 Argentina Small Business Accounting Software Market Size
9.3 RSA
9.3.1 RSA Small Business Accounting Software Market Size
Chapter 10 Market Drivers, Challenges and Trends
10.1 Drivers
10.1.1 Increasing number of small scale businesses across the world.
10.1.2 Digitalization and technological developments.
10.2 Challenges
10.2.1 Increasing demand of customers to reduce the cost of accounting software.
10.2.2 Data security
10.3 Opportunity
10.3.1 Opportunity in the Asian Countries
Chapter 11 Company Profiles
11.1 Intuit Inc.
11.1.1 Company overview
11.1.2 Company Details
11.1.3 Financial Performance
11.1.4 Product Offerings
11.1.5 Recent Developments
11.2 Xero
11.2.1 Company overview
11.2.2 Company Details
11.2.3 Financial Performance
11.2.4 Product Offerings
11.2.5 Recent Developments
11.3 Sage Group PLC
11.3.1 Company overview
11.3.2 Company Details
11.3.3 Financial Performance
11.3.4 Product Offerings
11.3.5 Recent Developments
11.4 Wave Financial Inc.
11.4.1 Company overview
11.4.2 Company Details
11.4.3 Financial Performance
11.4.4 Product Offerings
11.4.5 Recent Developments
11.5 Zoho Corporation Pvt. Ltd
11.5.1 Company overview
11.5.2 Company Details
11.5.3 Financial Performance
11.5.4 Product Offerings
11.5.5 Recent Developments
11.6 Fresh Books
11.6.1 Company overview
11.6.2 Company Details
11.6.3 Financial Performance
11.6.4 Product Offerings
11.6.5 Recent Developments
11.7 Kashoo
11.7.1 Company overview
11.7.2 Company Details
11.7.3 Financial Performance
11.7.4 Product Offerings
11.8 FreeAgent
11.8.1 Company overview
11.8.2 Company Details
11.8.3 Financial Performance
11.8.4 Product Offerings
11.8.5 Recent Developments
11.9 ZipBooks
11.9.1 Company overview
11.9.2 Company Details
11.9.3 Financial Performance
11.9.4 Product Offerings
11.9.5 Recent Developments
11.10 ScaleFactor
11.10.1 Company overview
11.10.2 Company Details
11.10.3 Financial Performance
11.10.4 Product Offerings
11.10.5 Recent Developments
11.11 MYOB
11.11.1 Company overview
11.11.2 Company Details
11.11.3 Financial Performance
11.11.4 Product Offerings
11.11.5 Recent Developments
11.12 Reckon One
11.12.1 Company overview
11.12.2 Company Details
11.12.3 Financial Performance
11.12.4 Product Offerings
11.12.5 Recent Developments
Chapter 12 Forecasts
12.1 Global Small Business Accounting Software Forecasts by Regions
12.1.1 Global Small Business Accounting Software Market Size
12.1.2 North America Small Business Accounting Software Market Forecast
12.1.3 Europe Small Business Accounting Software Market Forecast
12.1.4 APAC Small Business Accounting Software Market Forecast
12.1.5 MEA Small Business Accounting Software Market Forecast
12.2 North America Countries Forecast
12.2.1 North America Small Business Accounting Software Forecast by Countries
12.2.2 Europe Small Business Accounting Software Forecast By Countries
12.2.3 Europe Small Business Accounting Software Forecast By Countries
12.3 Asia Pacific Small Business Accounting Software Forecast By Countries
12.3.1 Asia Pacific Small Business Accounting Software Forecast By Countries
12.3.2 Asia Pacific Small Business Accounting Software Forecast By Countries
12.3.3 Middle East & Africa Small Business Accounting Software Forecast By Countries
12.3.4 South America Small Business Accounting Software Forecast By Countries
12.4 Market Forecast By Type
12.4.1 Global Small Business Accounting Software Market Forecast By Type
12.4.2 Global Small Business Accounting Software Market Share Forecast By Application
Chapter 13 Research Findings & Suggestions
Chapter 14 Methodology and Data Source
14.1 Research Methodology
14.2 Market Size Estimation Methodology
14.3 Forecasting Methodology