Cloud Accounting Software is a type of accounting software that is hosted online, meaning that it can be accessed and used from any device with an internet connection. This type of software is gaining in popularity due to the convenience of being able to access it from anywhere.
Cloud accounting software is used by businesses to manage their finances, including invoicing, tracking expenses, tracking inventory, handling payroll, generating financial statements and more. This type of software is especially useful for small businesses and start-ups that do not have the resources or technical knowledge to run their own servers or accounting software.
Cloud accounting software is being increasingly used by businesses all over the world. According to a survey by the Cloud Industry Forum, more than 70% of businesses in the UK are using cloud services, and this figure is expected to rise in the near future. Additionally, 40% of businesses in the US are using cloud services, and the global cloud accounting software market was estimated to be worth over $4.7 billion in 2020. This figure is expected to grow significantly in the coming years.
The global Cloud Accounting Software market was valued at US$ 5109 million in 2022 and is anticipated to reach US$ 7329.7 million by 2029, witnessing a CAGR of 6.2% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Cloud Accounting Software Market available at: https://www.themarketreports.com/report/global-cloud-accounting-software-market-research-report
This report aims to provide a comprehensive presentation of the global market for Cloud Accounting Software, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Cloud Accounting Software.
Global Cloud Accounting Software key players include Intuit, Xero, etc. Global top two manufacturers hold a share over 25%.
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