Cloud Accounting Service Market
Cloud Accounting Service Market Size, Share & Trends Analysis Report by type (Software-as-a-Service (SaaS), Application Service Providers, and Browser-based), by Organization Size (Small & Medium Enterprises (SMEs) and Large Enterprises), and by Industry Vertical (BFSI, retail and ecommerce, manufacturing, IT and telecom, healthcare, government and public sector, energy and utilities, media and entertainment and others) Forecast Period (2023-2030)
Cloud accounting service market is anticipated to grow at a CAGR of 9.8% during the forecast period. The growth of the market is attributed to factors such as automation and streamlined processes, cost efficiency, data security and reliability. Cloud-based accounting platforms provide advanced analytics and reporting features, supporting companies to gain insightful information from their financial data. Cloud servers of these are generally housed into secure data centers with redundant systems, ensuring high availability and minimizing the risk of data loss due to hardware failures or disasters. For instance, Oracle Fusion Accounting Hub is a cloud application that unifies data from different financial systems, giving the finance teams a complete view of financial data to increase forecasting accuracy, shorten reporting cycles, and simplify decision-making.
Segmental Outlook
The global cloud accounting service market is segmented based on the type, organization size, and industry vertical. Based on the type, the market is sub-segmented into software as a service, application service providers, and browser-based. Based on size, the market is sub-segmented into small and medium enterprises, and large enterprises. Based on industry vertical, the market is sub segmented into BFSI, retail and ecommerce, manufacturing, IT and telecom, healthcare, government and public sector, energy and utilities, media and entertainment and others.
Among the industry vertical, BFSI sub-segment is anticipated to hold a considerable share of the market, owing to the rising demand of cloud-based software and solutions in the BFSI industry. The cloud's infrastructure supports BFSI firms to automate regulatory reports, regulatory planning, and incident response. Additionally, cloud infrastructure offers a more secure environment than current technologies owing to its innovative structure.
Sub-Segment is Anticipated to Hold a Prominent Share in the Global Cloud Accounting Service Market
Among the organization size, sub-segment is anticipated to hold a considerable share of the market, owing to the growing adoption of innovative cloud-based software and solutions for financial management Thus, the market players are also focusing on developing new and advanced cloud-based accounting software for catering to the growing demand across the globe. For instance, in April 2021, Intuit Inc. QuickBooks Online Advanced Payroll, a new cloud-based accounting software solution designed to assist small businesses manage their payroll more efficiently and precisely.
Regional Outlook
The global cloud accounting service market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, the Asia-Pacific regional market is expected to grow considerably over the forecast period, owing to the increasing cloud adoption and automation coupled with rising digital transformation. Most of the SMEs are adopting cloud accounting services to manage their financial processes, improve productivity, and cut costs.
Global Cloud Accounting Service Market Growth, by Region 2023-2030
North America is Expected to Hold a Prominent Share in the Global Cloud Accounting Service Market
Among all regions, North America is expected to hold a prominent share of the global cloud accounting service market. The growth of the market in this region is attributed to the factors such as In addition the market players are focusing on the innovative product launches for growth of SMEs in this region. For instance, in May 2021, KPMG Canada launched Finance Plus, a new cloud accounting solution designed for small and medium-sized business owners who lack the time or in-house expertise to manage their bookkeeping and financial reporting.
Market Players Outlook
The major companies serving the global cloud accounting service market include Intuit Inc., SAP SE, Oracle Corp., Microsoft Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2019, Oracle partnered with VMware, Inc. to shift on to cloud platforms. Through these partnerships, the companies are able to use the enterprise software and cloud solutions of both the organization. customers are able to support their hybrid cloud strategies by running VMware Cloud Foundation on Oracle Cloud Infrastructure.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global cloud accounting service market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Intuit Inc.
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Microsoft Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Oracle Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. SAP SE
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
4. Market Segmentation
Global Cloud Accounting Service Type
4.1.1. Software-as-a-Service (SaaS)
4.1.2. Application Service Providers
4.1.3. Browser-Based
4.2. Global Cloud Accounting Service Market by Organization Size
4.2.1. Small and Medium Enterprises
4.2.2. Large Enterprises
4.3. Global Cloud Accounting Service Market by Industry Vertical
4.3.1. BFSI
4.3.2. Retail and Ecommerce
4.3.3. Manufacturing
4.3.4. IT and Telecom
4.3.5. Healthcare
4.3.6. Government and Public Sector
4.3.7. Energy and Utilities
4.3.8. Media and Entertainment
4.3.9. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Acclivity Group LLC
6.2. Epicor Software Corp.
6.3. FreshBooks USA Inc
6.4. Infor
6.5. KashFlow Software
6.6. MYOB Group
6.7. Reckon Ltd.
6.8. Red Wing Software, Inc.
6.9. Saasu Pty Ltd
6.10. The Sage Group plc
6.11. Unit4 Group Holding B.V.
6.12. Wave Financial USA Inc.
6.13. Workday, Inc.
6.14. Xero Ltd.
6.15. Zoho Corp.
1. GLOBAL CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
2. GLOBAL SAAS-BASED CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL APPLICATION SERVICE PROVIDERS BASED CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL BROWSER-BASED CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
5. GLOBAL CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2022-2030 ($ MILLION)
6. GLOBAL CLOUD ACCOUNTING SERVICE FOR SMALL AND MEDIUM ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL CLOUD ACCOUNTING SERVICE FOR LARGE ENTERPRISES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
8. GLOBAL CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICAL, 2022-2030 ($ MILLION)
9. GLOBAL CLOUD ACCOUNTING SERVICE FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL CLOUD ACCOUNTING SERVICE FOR RETAIL AND ECOMMERCE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL CLOUD ACCOUNTING SERVICE FOR MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
12. GLOBAL CLOUD ACCOUNTING SERVICE FOR IT AND TELECOM MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL CLOUD ACCOUNTING SERVICE FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL CLOUD ACCOUNTING SERVICE FOR GOVERNMENT AND PUBLIC SECTOR MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. GLOBAL CLOUD ACCOUNTING SERVICE FOR ENERGY AND UTILITIES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
16. GLOBAL CLOUD ACCOUNTING SERVICE FOR MEDIA AND ENTERTAINMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
GLOBAL CLOUD ACCOUNTING SERVICE FOR OTHER INDUSTRY VERTICALS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
17. GLOBAL CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
18. NORTH AMERICAN CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
19. NORTH AMERICAN CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
20. NORTH AMERICAN CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2022-2030 ($ MILLION)
21. NORTH AMERICAN CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICAL, 2022-2030 ($ MILLION)
22. EUROPEAN CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
23. EUROPEAN CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
24. EUROPEAN CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2022-2030 ($ MILLION)
25. EUROPEAN CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICAL, 2022-2030 ($ MILLION)
26. ASIA-PACIFIC CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
27. ASIA-PACIFIC CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
28. ASIA-PACIFIC CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE,2022-2030 ($ MILLION)
29. ASIA-PACIFIC CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICAL, 2022-2030 ($ MILLION)
30. REST OF THE WORLD CLOUD ACCOUNTING ORGANIZATION SIZE MARKET RESEARCH AND ANALYSIS BY TYPE, 2022-2030 ($ MILLION)
31. REST OF THE WORLD CLOUD ACCOUNTING ORGANIZATION SIZE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2022-2030 ($ MILLION)
32. REST OF THE WORLD CLOUD ACCOUNTING ORGANIZATION SIZE MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICAL, 2022-2030 ($ MILLION)
1. GLOBAL CLOUD ACCOUNTING SERVICE MARKET SHARE BY TYPE, 2022 VS 2030 (%)
2. GLOBAL SAAS-BASED CLOUD ACCOUNTING SERVICE MARKET SHARE BY REGION, 2022 VS 2030 (%)
3. GLOBAL APPLICATION SERVICE PROVIDERS BASED CLOUD ACCOUNTING SERVICE MARKET SHARE BY REGION, 2022 VS 2030 (%)
4. GLOBAL BROWSER-BASED CLOUD ACCOUNTING SERVICE MARKET SHARE BY REGION, 2022 VS 2030 (%)
5. GLOBAL CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY ORGANIZATION SIZE, 2022 VS 2030 (%)
6. GLOBAL CLOUD ACCOUNTING SERVICE FOR SMALL AND MEDIUM ENTERPRISES MARKET SHARE BY REGION, 2022 VS 2030 (%)
7. GLOBAL CLOUD ACCOUNTING SERVICE FOR LARGE ENTERPRISES MARKET SHARE BY REGION, 2022 VS 2030 (%)
8. GLOBAL CLOUD ACCOUNTING SERVICE MARKET RESEARCH AND ANALYSIS BY INDUSTRY VERTICAL, 2022 VS 2030 (%)
9. GLOBAL CLOUD ACCOUNTING SERVICE FOR BFSI MARKET SHARE BY REGION, 2022 VS 2030 (%)
10. GLOBAL CLOUD ACCOUNTING SERVICE FOR RETAIL AND ECOMMERCE MARKET SHARE BY REGION, 2022 VS 2030 (%)
11. GLOBAL CLOUD ACCOUNTING SERVICE FOR MANUFACTURING MARKET SHARE BY REGION, 2022 VS 2030 (%)
12. GLOBAL CLOUD ACCOUNTING SERVICE FOR IT AND TELECOM MARKET SHARE BY REGION, 2022 VS 2030 (%)
13. GLOBAL CLOUD ACCOUNTING SERVICE FOR HEALTHCARE MARKET SHARE BY REGION, 2022 VS 2030 (%)
14. GLOBAL CLOUD ACCOUNTING SERVICE FOR GOVERNMENT AND PUBLIC SECTOR MARKET SHARE BY REGION, 2022 VS 2030 (%)
15. GLOBAL CLOUD ACCOUNTING SERVICE FOR ENERGY AND UTILITIES MARKET SHARE BY REGION, 2022 VS 2030 (%)
16. GLOBAL CLOUD ACCOUNTING SERVICE FOR MEDIA AND ENTERTAINMENT MARKET SHARE BY REGION, 2022 VS 2030 (%)
17. GLOBAL CLOUD ACCOUNTING SERVICE FOR OTHER INDUSTRY VERTICALS MARKET SHARE BY REGION, 2022 VS 2030 (%)
18. GLOBAL CLOUD ACCOUNTING SERVICE MARKET SHARE BY REGION, 2022 VS 2030 (%)
19. US CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
20. CANADA CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
21. UK CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
22. FRANCE CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
23. GERMANY CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
24. ITALY CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
25. SPAIN CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
26. REST OF EUROPE CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
27. INDIA CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
28. CHINA CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
29. JAPAN CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
30. SOUTH KOREA CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
31. REST OF ASIA-PACIFIC CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
32. REST OF THE WORLD CLOUD ACCOUNTING SERVICE MARKET SIZE, 2022-2030 ($ MILLION)
