PUNE, INDIA, March 23, 2023 /PRNewswire/ — According to a recent market study published by Growth Market Reports, titled “Cloud-based financial management software market By Type (Web-based Software & Mobile-based Software), Application (Payroll Management Systems, Invoicing & Invoicing Systems, Enterprise Resource Planning Systems, Revenue Management, Accounting Management & Others), Enterprise (SMEs & Large Enterprises) End User (Corporate, Government, Investment Institutions and Individuals) and Region: Size, Share, Trends and Opportunities Analysis, 2023-2031“, the market is valued 2.56 billion dollars It is expected to arrive in 2022 12.68 billion dollarsIn the year It is expanding at a CAGR of 19.40% by the end of 2031. The growth of the market is driven by the adoption of cloud-based solutions and growing demand for integrated financial management software.
Key market players included in the report
- SAP
- IBM
- Microsoft
- Oracle
- Tyler Technologies
- Intuit Inc.
- Information
- SAS Institute Inc.
- Sage Group plc
- FinancialForce.com
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The report covers comprehensive information on emerging trends, market drivers, growth opportunities, and restraints that are likely to change the market dynamics of the industry. It provides an in-depth analysis of the market segments including type, application and competitor analysis.
This report includes a complete analysis of the industry players and covers their latest developments, product portfolios, pricing, mergers, acquisitions and collaborations. Moreover, it provides crucial strategies to help market players expand their market share.
Key news on cloud-based financial management software market segments
Depending on the type, the global market is segmented into web-based software and mobile-based software. The mobile-based software segment is expected to register a strong growth rate during the forecast period. The ease of use and quick processing of mobile based software has encouraged users to use mobile banking.
According to the applicationThe market is segmented into payroll management systems, billing and invoicing systems, enterprise resource planning systems, revenue management, account management, and others. The account management segment is expected to expand at a high CAGR in the coming years. Account management software’s ability to track transaction activity accelerates the market.
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Based on organizationThe cloud-based financial management software market is segmented into small and medium enterprises and large enterprises. The small and medium enterprises segment is expected to account for the largest revenue share of the market during the forecast period due to growing demand for automated invoicing features and rapid expansion of small industries.
According to the end userThe market is segmented into corporate, government, investment institutions and individuals. The corporate segment is expected to expand at a sustained CAGR during the forecast period. This growth is due to the rapid expansion of commercial banks and insurance companies worldwide.
In terms of regionthe global cloud-based financial management software market is segmented. North America, Europe, Asia Pacific, Latin AmericaAnd middle east & Africa. North America Increasing demand for financial advisors to reduce unnecessary taxes is expected to dominate the market and is expected to expand at a high CAGR during the forecast period.
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The main takeaways from the study are:
- Financial management software used to manage all retail related activities. It includes strategic planning, evaluating, billing, invoicing and controlling all financial activities.
- The main objective of this software is to increase profits and ensure long-term corporate sustainability.
- Cloud-based software provides security, flexibility, scalability, and faster processing speed to help manage operations more efficiently.
- Development of mobile banking and insurance systems by commercial banks and insurance companies will drive market growth.
- Increasing technological advancements and the emergence of numerous payment-related applications will create lucrative growth opportunities in the market.
- Mobile banking allows a company to manage and manage its financial data from remote locations, increasing the demand for mobile-based software.
- A major growth opportunity for revenue management, which leads the market, is the growing demand from large enterprises to calculate profit and loss.
- The market at Asia Pacific It is expected to hold a large share of the market during the forecast period. This growth is due to the widespread adoption of digital financial services in the corporate sector.
Read 210 Pages Research Report with Detailed TOS “Cloud-Based Financial Software Market by Type (Web-Based Software & Mobile-Based Software), Application (Payroll Management Systems, Invoicing & Invoicing Systems, Enterprise Resource Planning Systems, Revenue Management, Accounting management and others), enterprise (small and medium enterprises and large enterprises), end user (organization, government, investment institutions and individuals) and region (Asia Pacific, North America, Latin America, EuropeAnd middle east & Africa) – Global Industry Analysis, Growth, Share, Size, Trends and Forecast 2023 – 2031″.
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Key parts covered
Kind of
- Web based software
- Mobile based software
App
- Payroll management systems
- Billing and billing systems
- Enterprise resource planning systems
- Revenue management
- Account management
- others
Organization
- Small and medium enterprises
- Large enterprises
end user
- Corporate
- The government
- Investment institutions
- Individuals
Range
- Asia Pacific
- North America
- Latin America
- Europe
- middle east & Africa
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