General Ledger Accounting Software Global Market Report 2024

Description

General ledger accounting software is specifically designed to oversee and maintain a company's general ledger, which serves as a comprehensive record of all financial transactions conducted within the organization. Its primary function is to facilitate business performance analysis by systematically organizing, recording, and categorizing transactions based on assets, liabilities, equity, revenue, and expenses.

The primary categories of general ledger accounting software products include on-premises and cloud-based solutions. On-premises software refers to IT infrastructure hardware and software applications utilized in accounting software systems. The choice between these options is typically influenced by factors such as security requirements, available IT resources, scalability needs, and budget constraints. These solutions offer various pricing structures, ranging from one-time licenses to subscription-based models, catering to a diverse array of applications across both large and small enterprises.

The general ledger accounting software market research report is one of a series of new reports from The Business Research Company that provides general ledger accounting software market statistics, including general ledger accounting software industry global market size, regional shares, competitors with a general ledger accounting software market share, detailed general ledger accounting software market segments, market trends and opportunities, and any further data you may need to thrive in the general ledger accounting software industry. This general ledger accounting software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The general ledger accounting software market size has grown strongly in recent years. It will grow from $5.91 billion in 2023 to $6.45 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth observed during the historic period can be attributed to several factors, including heightened globalization, improved user experience, enhanced real-time reporting capabilities, customization options, integration capabilities, and compliance with regulatory standards.

The general ledger accounting software market size is expected to see strong growth in the next few years. It will grow to $9.27 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The projected growth in the forecast period is expected to be driven by factors such as a rise in customer retention efforts, advancements in pricing strategies, and an uptick in customer acquisition endeavors. Noteworthy trends anticipated during this period include the adoption of subscription-based pricing models, utilization of data analytics and business intelligence tools, implementation of real-time reporting capabilities, enhancement of security measures, increased mobile accessibility, and integration with artificial intelligence and automation technologies.

The general ledger accounting software market is poised for significant growth, fueled by the increasing adoption of cloud-based solutions. Cloud-based solutions, encompassing applications, storage, and on-demand services accessed via the internet through shared cloud computing frameworks, are gaining traction due to their flexibility, cost efficiency, accessibility, security, collaboration, and innovation benefits in today's digital landscape. Cloud-based general ledger accounting software facilitates streamlined financial processes, enhances accessibility and collaboration, ensures security, and delivers cost savings compared to traditional on-premises solutions. For instance, in February 2024, AAG IT reported a substantial increase in Infrastructure as a Service (IaaS) public cloud service revenue, underscoring the rising demand for cloud-based solutions and their impact on driving the general ledger accounting software market forward.

Key players in the general ledger accounting software market are concentrating on developing innovative solutions to meet evolving industry demands. Among these innovations are AI-enabled revenue recognition and audit modules, which leverage artificial intelligence (AI) technologies to enhance the accuracy, efficiency, and effectiveness of revenue recognition processes and auditing tasks within organizations. For example, Trullion Ltd., a leading accounting automation platform, introduced AI-enabled audit modules in January 2023. These modules empower auditors to extract ERP or General Ledger (GL) files and instantly validate them against source data such as invoices and PDFs, thereby expediting the testing of details within the suite of audit automation solutions.

In March 2022, Jonas Software Solutions bolstered its offerings by acquiring CompuMove Systems Corporation, a move aimed at expanding its range of services to include specialized ledger accounting software tailored for the moving industry. This acquisition enhances general ledger distribution and financial processes, ultimately improving operational efficiency for businesses. CompuMove Systems Corporation, known for its financial management capabilities including general ledger accounting software, further strengthens Jonas Software Solutions' position in serving industry-specific needs with tailored software solutions.

Major companies operating in the general ledger accounting software market are Oracle Corporation, QuickBooks Inc., SAP ERP Core Finance, Sage Group plc, Xero Limited, Infor Inc., Zoho Corporation Pvt. Ltd., Open Systems Accounting Software (OSAS), Multiview Financial Software, FinancialForce.com Inc., Soft Ledger Inc., Patriot Software LLC, Deskera ERP, ZipBooks Software Solutions Pvt. Ltd., Plooto Inc., Bench Accounting Inc., Abila MIP Fund Accounting, Acumatica Inc., Accounting Seed Inc., Technology Group International (TGI), AccuFund Inc., OneUp SAS, Wave Financial Inc., Trullion Ltd., Sage Fixed Assets

North America was the largest region in the general ledger accounting software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the general ledger accounting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the general ledger accounting software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The general ledger accounting software market consists of revenues earned by entities by providing services such as budgeting and forecasting, journal entries, general ledger maintenance, and financial data management. The market value includes the value of related goods sold by the service provider or included within the service offering. The general ledger accounting software market also includes sales of chart of accounts (COA), general ledger, and security and access control. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Product Or Type: On-Premises; Cloud-Based
2) By Pricing Model: One-Time License; Subscription-Based
3) By Application: Large Organizations; Small And Mid-size Organizations
Covering: Oracle Corporation; QuickBooks Inc.; SAP ERP Core Finance; Sage Group plc; Xero Limited

Product Code: r17364

1. Executive Summary

2. General Ledger Accounting Software Market Characteristics

3. General Ledger Accounting Software Market Trends And Strategies

4. General Ledger Accounting Software Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global General Ledger Accounting Software Market Size and Growth

5.1. Global General Ledger Accounting Software Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global General Ledger Accounting Software Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global General Ledger Accounting Software Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. General Ledger Accounting Software Market Segmentation

6.1. Global General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Premises
Cloud-Based
6.2. Global General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
One-Time License
Subscription-Based
6.3. Global General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Large Organizations
Small And Mid-Size Organizations

7. General Ledger Accounting Software Market Regional And Country Analysis

7.1. Global General Ledger Accounting Software Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global General Ledger Accounting Software Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific General Ledger Accounting Software Market

8.1. Asia-Pacific General Ledger Accounting Software Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China General Ledger Accounting Software Market

9.1. China General Ledger Accounting Software Market Overview
9.2. China General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India General Ledger Accounting Software Market

10.1. India General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan General Ledger Accounting Software Market

11.1. Japan General Ledger Accounting Software Market Overview
11.2. Japan General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia General Ledger Accounting Software Market

12.1. Australia General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia General Ledger Accounting Software Market

13.1. Indonesia General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea General Ledger Accounting Software Market

14.1. South Korea General Ledger Accounting Software Market Overview
14.2. South Korea General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe General Ledger Accounting Software Market

15.1. Western Europe General Ledger Accounting Software Market Overview
15.2. Western Europe General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK General Ledger Accounting Software Market

16.1. UK General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany General Ledger Accounting Software Market

17.1. Germany General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France General Ledger Accounting Software Market

18.1. France General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy General Ledger Accounting Software Market

19.1. Italy General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain General Ledger Accounting Software Market

20.1. Spain General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe General Ledger Accounting Software Market

21.1. Eastern Europe General Ledger Accounting Software Market Overview
21.2. Eastern Europe General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia General Ledger Accounting Software Market

22.1. Russia General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America General Ledger Accounting Software Market

23.1. North America General Ledger Accounting Software Market Overview
23.2. North America General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA General Ledger Accounting Software Market

24.1. USA General Ledger Accounting Software Market Overview
24.2. USA General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada General Ledger Accounting Software Market

25.1. Canada General Ledger Accounting Software Market Overview
25.2. Canada General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America General Ledger Accounting Software Market

26.1. South America General Ledger Accounting Software Market Overview
26.2. South America General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil General Ledger Accounting Software Market

27.1. Brazil General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East General Ledger Accounting Software Market

28.1. Middle East General Ledger Accounting Software Market Overview
28.2. Middle East General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa General Ledger Accounting Software Market

29.1. Africa General Ledger Accounting Software Market Overview
29.2. Africa General Ledger Accounting Software Market, Segmentation By Product Or Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa General Ledger Accounting Software Market, Segmentation By Pricing Model, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa General Ledger Accounting Software Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. General Ledger Accounting Software Market Competitive Landscape And Company Profiles

30.1. General Ledger Accounting Software Market Competitive Landscape
30.2. General Ledger Accounting Software Market Company Profiles
- 30.2.1. Oracle Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. QuickBooks Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. SAP ERP Core Finance
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Sage Group plc
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Xero Limited
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. General Ledger Accounting Software Market Other Major And Innovative Companies

31.1. Infor Inc.
31.2. Zoho Corporation Pvt. Ltd.
31.3. Open Systems Accounting Software (OSAS)
31.4. Multiview Financial Software
31.5. FinancialForce.com Inc.
31.6. Soft Ledger Inc.
31.7. Patriot Software LLC
31.8. Deskera ERP
31.9. ZipBooks Software Solutions Pvt. Ltd.
31.10. Plooto Inc.
31.11. Bench Accounting Inc.
31.12. Abila MIP Fund Accounting
31.13. Acumatica Inc.
31.14. Accounting Seed Inc.
31.15. Technology Group International (TGI)

32. Global General Ledger Accounting Software Market Competitive Benchmarking

33. Global General Ledger Accounting Software Market Competitive Dashboard

34. Key Mergers And Acquisitions In The General Ledger Accounting Software Market

35. General Ledger Accounting Software Market Future Outlook and Potential Analysis

35.1 General Ledger Accounting Software Market In 2028 - Countries Offering Most New Opportunities
35.2 General Ledger Accounting Software Market In 2028 - Segments Offering Most New Opportunities
35.3 General Ledger Accounting Software Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer