The Latin America, Middle East and Africa Accounting Software Market is expected to witness market growth of 23.7% CAGR during the forecast period (2022-2028).
Using accounting software has a number of advantages. Keeping track of the costs is critical for managing the cash flow. Accounting software allows organizations to track and categorize spending so companies can see where the money is going. Accounting software can also be used to upload expense receipts, scan them, and automatically enter information from the scanned receipts. This eliminates the need for paper receipt storage as well as the risk of their being misplaced. Accounting software makes billing customers for charges organizations bear on their behalf much easier.
Additionally, bank reconciliation is a critical accounting aspect of a company, and accounting software makes it easier. By directly connecting the bank account to accounting software, the company can immediately import statements from bank feeds into the accounts. Custom criteria and bank rules can be set up in the accounting software to automatically categorize and match incoming bank transactions. After the company matched all transactions, company has to check and confirm them to reconcile the accounts. Accounting software aids to keep the organization audit-ready throughout the year by simplifying bank reconciliation.
Dubai is slowly but surely progressing toward the development of an innovative and viable manufacturing sector, in light of the existence of prospects for growth and investment, the presence of laws and legislation, specialized industrial cities, advanced industrial infrastructure, along with large and decent airports and ports that can aid in exporting manufacturing products a leading role in Dubai's economic diversification policy. With a decent contribution to the Emirate of Dubai's Gross Domestic Product (GDP) in the first six months of 2020, the Manufacturing Sector is in third place (at fixed prices). Additionally, the UAE government has made building a world-class healthcare infrastructure a primary priority, and as a result, the industry has grown and developed greatly in recent years.
The Brazil market dominated the LAMEA Others Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $55.6 million by 2028. The Argentina market is experiencing a CAGR of 25.6% during (2022 - 2028). Additionally, The UAE market is expected to exhibit a CAGR of 24.9% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Type, the market is segmented into Commercial, Enterprise, Custom, and Spreadsheets. Based on Deployment Model, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises (SMEs). Based on Vertical, the market is segmented into BFSI, Manufacturing, Government & Public Sector, Telecom & IT, Media & Entertainment, Healthcare & Life Sciences, Energy & Utilities, Retail & Ecommerce, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Infor, Inc. (Koch Industries), Oracle Corporation, IBM Corporation, Zoho Corporation Pvt. Ltd., Epicor Software Corporation, Workday, Inc, Sage Group plc (Sage Intacct, Inc.), FreshBooks (2ndSite, Inc.), and Kingdee International Software Group Co., Ltd.
Using accounting software has a number of advantages. Keeping track of the costs is critical for managing the cash flow. Accounting software allows organizations to track and categorize spending so companies can see where the money is going. Accounting software can also be used to upload expense receipts, scan them, and automatically enter information from the scanned receipts. This eliminates the need for paper receipt storage as well as the risk of their being misplaced. Accounting software makes billing customers for charges organizations bear on their behalf much easier.
Additionally, bank reconciliation is a critical accounting aspect of a company, and accounting software makes it easier. By directly connecting the bank account to accounting software, the company can immediately import statements from bank feeds into the accounts. Custom criteria and bank rules can be set up in the accounting software to automatically categorize and match incoming bank transactions. After the company matched all transactions, company has to check and confirm them to reconcile the accounts. Accounting software aids to keep the organization audit-ready throughout the year by simplifying bank reconciliation.
Dubai is slowly but surely progressing toward the development of an innovative and viable manufacturing sector, in light of the existence of prospects for growth and investment, the presence of laws and legislation, specialized industrial cities, advanced industrial infrastructure, along with large and decent airports and ports that can aid in exporting manufacturing products a leading role in Dubai's economic diversification policy. With a decent contribution to the Emirate of Dubai's Gross Domestic Product (GDP) in the first six months of 2020, the Manufacturing Sector is in third place (at fixed prices). Additionally, the UAE government has made building a world-class healthcare infrastructure a primary priority, and as a result, the industry has grown and developed greatly in recent years.
The Brazil market dominated the LAMEA Others Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $55.6 million by 2028. The Argentina market is experiencing a CAGR of 25.6% during (2022 - 2028). Additionally, The UAE market is expected to exhibit a CAGR of 24.9% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Type, the market is segmented into Commercial, Enterprise, Custom, and Spreadsheets. Based on Deployment Model, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises (SMEs). Based on Vertical, the market is segmented into BFSI, Manufacturing, Government & Public Sector, Telecom & IT, Media & Entertainment, Healthcare & Life Sciences, Energy & Utilities, Retail & Ecommerce, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Infor, Inc. (Koch Industries), Oracle Corporation, IBM Corporation, Zoho Corporation Pvt. Ltd., Epicor Software Corporation, Workday, Inc, Sage Group plc (Sage Intacct, Inc.), FreshBooks (2ndSite, Inc.), and Kingdee International Software Group Co., Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Solution
- Services
By Type
- Commercial
- Enterprise
- Custom
- Spreadsheets
By Deployment Model
- On-premise
- Cloud
By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises (SMEs)
By Vertical
- BFSI
- Manufacturing
- Government & Public Sector
- Telecom & IT
- Media & Entertainment
- Healthcare & Life Sciences
- Energy & Utilities
- Retail & Ecommerce
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- SAP SE
- Infor, Inc. (Koch Industries)
- Oracle Corporation
- IBM Corporation
- Zoho Corporation Pvt. Ltd.
- Epicor Software Corporation
- Workday, Inc
- Sage Group plc (Sage Intacct, Inc.)
- FreshBooks (2ndSite, Inc.)
- Kingdee International Software Group Co., Ltd.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. LAMEA Accounting Software Market by Component
Chapter 5. LAMEA Accounting Software Market by Type
Chapter 6. LAMEA Accounting Software Market by Deployment Model
Chapter 7. LAMEA Accounting Software Market by Organization Size
Chapter 8. LAMEA Accounting Software Market by Vertical
Chapter 9. LAMEA Accounting Software Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- SAP SE
- Infor, Inc. (Koch Industries)
- Oracle Corporation
- IBM Corporation
- Zoho Corporation Pvt. Ltd.
- Epicor Software Corporation
- Workday, Inc
- Sage Group plc (Sage Intacct, Inc.)
- FreshBooks (2ndSite, Inc.)
- Kingdee International Software Group Co., Ltd.
Methodology
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