Accounting Software Market Growing at 19.6% CAGR | Reach USD 70.2 Billion by 2030 Globally

WILMINGTON, DE, UNITED STATES, July 16, 2025 /EINPresswire.com/ -- Allied Market Research published a new report, titled, "Accounting Software Market Growing at 19.6% CAGR | Reach USD 70.2 Billion by 2030 Globally." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global accounting software market was valued at USD 11.9 billion in 2020 and is projected to reach USD 70.2 billion by 2030, growing at a CAGR of 19.6% from 2021 to 2030.

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Driving Factors

Rise in adoption of innovative technologies to improve business productivity and increase of virtual chief financial officers (CFO) to enhance business operations in small-scale to medium (SMEs) industry drive the growth of the global accounting software market. In addition, rise in trend of automation in accounting process to enhance efficacy and eliminate manual task aids the growth of the market. However, additional cost associated with accounting software and data security & privacy concerns impede the market growth. Moreover, rise in adoption of mobile and app-based accounting software among enterprises and individuals is expected to open new opportunities in the future.

Market Segmentation

The global accounting software market is segmented on the basis of component, by deployment mode, by type, organization size, industry vertical, and region. By component, the market is bifurcated into software and services. By deployment mode, it is segregated into cloud and on-premises. On the basis of type, it is fragmented into spreadsheets, commercial accounting software, enterprise accounting software, and custom accounting software. Depending on industry vertical, it is segregated into BFSI, retail & e-commerce, manufacturing, IT & telecom, healthcare, government & public sector, energy & utilities, media & entertainment, and others. By organization size, it is categorized into small to medium enterprise (SMEs) and large-scale enterprise. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Players

This report gives an in-depth profile of some key market players in the accounting software market, include Infor Inc., Intuit, Inc., Microsoft Corporation, Oracle Corporation, Sage Group Plc., SAP SE, Thomson Reuters, Xero Ltd., Zeta Software LLC, and Zoho Corporation. This study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.

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North America, to lead the trail in terms of revenue

By region, North America, garnered the major share in 2020, contributing to more than two-fifths of the global accounting software industry, and is expected to dominate the market during the forecast period. This is attributed to the developed IT infrastructure in this region, cloud-based accounting software also has seen widespread acceptance. However, Asia-Pacific is expected to witness the fastest CAGR of 22.2%. This is owing to rapid technological advancements, digitization of economies, and government initiatives increased expendable income among the region's middle-income population are the key factors that power the overall economy's growth in Asia-Pacific.

The solution segment to dominate by 2030

By component, the solution segment accounted for more than three-fifths of the global accounting software market share in 2020, and is anticipated to retain its dominance throughout the forecast period. This is owing to its numerous advantages in industries such as eliminating the manual process, streamlining the business process, and reducing the time & cost. The services segment, however, would showcase the fastest CAGR of 20.9% by 2030. The accounting software offers enormous benefits to the industry, such as cash flow analysis, easy tax filing, balance sheet, trial balance, invoicing, income and expense statements, and payroll, thus improving the growth of the segment.

The on-premise segment held the lion's share in 2020

Based on deployment mode, the on-premise segment held the lion's share in 2020, contributing to nearly three-fifths of the global accounting software market, and is expected to continue its trend during the forecast period. This is attributed to numerous advantages offered by this on-premise deployment such as high level of data security and safety. However, cloud segment is expected to witness the highest CAGR of 22.1% by 2030, owing to rise in adoption of cloud-based accounting software, due to low cost and easier maintenance.

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COVID-19 Scenario

● The outbreak of Covid-19 had a favorable impact on the adoption of accounting software due to lockdown imposed by governments of different countries. To maintain business continuity throughout the pandemic, governments and corporations were increasingly promoting work from home culture or delegating work to employees in less afflicted areas.

● The situation, on the other hand, has expedited the adoption of modern technologies like AI-powered solutions, big data, automation accounting, and analytics to control expenses while enhancing the customer experience.

● In addition, the growing need to modernize finance operations is projected to fuel accounting software market growth globally in the post-pandemic.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

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