United States SMB & SME Used Accounting Software Market Size By Product (Cloud Solution, On-Premise Solution), By Application (Services, Retail), By Geographic Scope And Forecast

United States SMB & SME Used Accounting Software Market Size And Forecast

United States SMB & SME Used Accounting Software Market size was valued at USD 999.42 Million in 2024 and is projected to reach USD 1539.94 Million by 2031, growing at a CAGR of 6.14% from 2024 to 2031.

Increased demand for advanced automated funding processes boosts the growth of the small business accounting software Market. The United States report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global United States SMB & SME Used Accounting Software Market Definition

is an application software that is used to record and process the different types of accounting transactions occurring within functional modules like accounts payable, payroll, accounts receivable, and trial balance and cost control systems can easily be established using accounting software which is the simplest way of doing so, this can be done by establishing a standard cost and measure actual costs against it.

Accounting Information Systems have become a part and parcel of day to day life. There are a huge number of SMB and SME’s around the globe and the US market is fragmented with a lot of SMEs and SMB, the SMB market typically serves businesses with 5-25 active users, while the Mid-Market can serve from 25-100 active users. Small and medium-sized businesses (SMBs) are widely considered the backbone of the US economy.

United States SMB & SME Used Accounting Software Market Overview

Accounting software solutions typically support more functionality and a broader range of reporting. The underlying database is more robust, and therefore, SMB products are more scalable and able to take the business to its next level. Where only a few years ago the SMB and SMEs had very different competitors, over the past few years SMB vendors have enhanced their database capabilities and added features and functions that were only found in much larger applications before.

In today’s business environment, accounting has taken a significant position in its functions in the business world. There are a lot of vendors in the US market for small business and small and mid-size enterprises to serve this market, but QuickBooks from Intuit dominates the market for small business accounting software purchased at retail stores in the United States. In addition to the aforementioned factors, increased demand for advanced automated funding processes boosts the growth of the small business accounting software Market. However, Lack of skilled workforce is a major factor that is likely to affect the growth of the market over the forecast period.

United States SMB & SME Used Accounting Software Market Segmentation Analysis

The United States SMB & SME Used Accounting Software Market is segmented on the basis of Product, and Application.

United States SMB & SME Used Accounting Software Market, By Product

• Cloud Solution
• On-Premise Solution

Based on Product, the market is bifurcated into Cloud Solution and On-Premise Solution. Cloud Solution accounted for the largest market share in 2019. There are several benefits of implementing cloud-based software such as flexibility; cloud-based services are ideal for businesses that have growing or fluctuating bandwidth demands.

United States SMB & SME Used Accounting Software Market, By Application

• Services
• Retail
• Manufacturing

Based on Application, the market is bifurcated into Services, Retail, and Manufacturing. Services accounted for the largest market share in 2019.

Key Players

The “United States SMB & SME Used Accounting Software Market” study report will provide valuable insight with an emphasis on the market including some of the major players such as Intuit Inc., Sage Group Plc., Oracle Netsuite Global Business Unit (Oracle Corporation), Xero Limited, Workday Inc., and Others.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with their product benchmark and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

key Developments

• Intuit Inc. introduced a new cloud-based offering named QuickBooks Online Advanced.
• The new introduction comes with vast data and information along with the application of artificial intelligence and machine learning to help growing companies to run their business.
• Sage Group Plc. launched a new cloud financial management solution named Sage Intacct Construction.
• The product is designed and developed to meet the needs of construction companies.
• Xero acquired U.K.-based Instafile.
• This is to broaden its reach in the small business tax filing space.
• The aim of the acquisition is to integrate cloud-based tax preparation and filing solutions.

Report Scope

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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