Accounting and Tax Software Market Scenario:
The crippling effect of the global COVID-19 pandemic has detained the growth potential of the Accounting and Tax Software Market. This MRFR report on the XX market indicates critical pointers that may emerge as growth hubs in the future. Moreover, in-depth data analysis is estimated to offer a clearer growth perspective to market participants.
The Accounting and Tax Software Market is witnessing a notable growth where the CAGR could touch a 7.9% mark during the forecast period of 2020 to 2027. Market Research Future (MRFR) found several factors while analyzing the market that could support the growth of this market. These factors are cost-effective nature of the software, ability to perform tasks without spending much time, easy installation process, rising demand from the developing countries, robust percolation across various end user industries, and others.
The market is driven by increasing demand for automated solutions across various industry verticals globally. Also, since tax and accounting software offers several benefits including efficient planning and management of financial data in a cost-effective manner, it is being widely deployed across industries including manufacturing, retail & consumer goods, and BFSI among others.
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SAP SE, Intuit Inc., The Sage Group, TeamSystem SpA, Oracle Corporation, Microsoft Corporation, Epicor, Unit4, Xero Limited, FreshBooks, Tally Solutions Private Limited, Red Wing Software, Inc., Dezan Shira & Associates, Wolters Kluwer, Kingston & Knight Accountants, KPMG International, and others are noteworthy names in the global Accounting and Tax Software Market. These companies and their effective tactical measures are expected to bolster the growth of the market.
- The global Accounting and Tax Software Market, as discussed in detail by MRFR analysts, has been studied based on a segmentation that includes organization size, deployment mode, software type, and vertical.
- By software type, the study of the Accounting and Tax Software Market comprises accounting software, tax and accounting software, and tax software.
- By deployment model, the Accounting and Tax Software Market understanding include segments like cloud and on-premise. The cloud segment is getting substantial traction as it supports remote operations. The expanding cloud accounting software market is expected to back the market.
- By organization size, the detailed study of the Accounting and Tax Software Market reveals segments like small and medium-sized enterprises and large enterprises.
- By vertical, the comprehensive study of the Accounting and Tax Software Market includes a study of IT and telecommunications, BFSI, manufacturing, healthcare, retail and consumer goods, and others.
North America, with 39.73% of the global market share in 2018, is on track to lead the market during the forecast period. However, Europe’s 6.9% CAGR during the forecast period, due to the rising demand for the business accounting software market, would be better than North America.
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Table of Contents:
1 Executive Summary
2 Market Introductions
2.2 Scope Of The Study
2.3 Research Objective
2.4 Market Structure
3 Research Methodology
4 Market Insights
5 Market Dynamics
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