GCC Accounting Software Market Growth, Trends, Revenue, Size, Future Plans and Forecast 2029

GCC Accounting Software Market

According to the latest market research report title “GCC Accounting Software Market By Deployment Type (Cloud- Based, On Premise), By Solution (Software- Based, Service), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By Type (Spreadsheet, ERP, Custom Accounting Software, Tax Management Software), By End User (BFSI, IT & Telecommunication, Automotive, Retail & Consumer Goods, Oil & Gas, Manufacturing, Healthcare, Government & Public Sector, Construction & Real Estate, Others)–Forecast to 2029″, published by MarkNtel Advisors, The GCC Accounting Software Market is estimated to grow at a CAGR of around 8.9% during the forecast period, i.e., 2024-29.

The data present in the report exhibit from the historic years (2019-22) and the base year (2023) to put together estimations for the forecast period (2024-29). In the study, our researchers put together reliable, unbiased, and accurate data to enlighten investors about fluctuations in the industry & anticipations on what to expect in the future. Since the industry is dynamic and highly fragmented, this report enables the prominent players to make strategic moves associated with their investments in the coming years.

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GCC Accounting Software Market Challenge:

Increasing Cyber Security Breaches to Restrict the Market Potentiality – The GCC countries have been rapidly embracing digital transformation in various sectors, including government, finance, healthcare, and energy. This significant expansion of digital infrastructure has left these sectors vulnerable to cyberattacks. Cybercriminals have become increasingly sophisticated, employing advanced malware, ransomware, and phishing campaigns. Consequently, instances of cyberattacks have seen a sharp increase.

According to a report from cybersecurity firm Group IB, more than 42 companies in the GCC region fell victim to ransomware attacks during the years 2021 and 2022. These attacks were distributed across the region, with 33% targeting companies in the UAE, 29% in Saudi Arabia, 21% in Kuwait, 10% in Qatar, 5% in Oman, and 2% in Bahrain. As a result, enterprises in the region are becoming increasingly concerned about the security of their financial data and sensitive information. The high-profile ransomware incidents have made them cautious about adopting new software solutions, including accounting systems software, without first ensuring the presence of robust cybersecurity measures.

 GCC Accounting Software Market Segmentation

The GCC Accounting Software Market is highly robust and fragmented into numerous segments;

By Deployment Type

-Cloud- Based- Market Size & Forecast 2019-2029F, USD Million

-On Premise- Market Size & Forecast 2019-2029F, USD Million

By Solution

-Software- Based- Market Size & Forecast 2019-2029F, USD Million

-Service- Market Size & Forecast 2019-2029F, USD Million

By Enterprise Size

-Large Enterprises- Market Size & Forecast 2019-2029F, USD Million

-Small & Medium Enterprises – Market Size & Forecast 2019-2029F, USD Million

By Type

-Spreadsheet- Market Size & Forecast 2019-2029F, USD Million

-ERP – Market Size & Forecast 2019-2029F, USD Million

-Custom Accounting Software- Market Size & Forecast 2019-2029F, USD Million

-Tax Management Software – Market Size & Forecast 2019-2029F, USD Million

By End User

-BFSI- Market Size & Forecast 2019-2029F, USD Million

-IT & Telecommunication- Market Size & Forecast 2019-2029F, USD Million

-Automotive- Market Size & Forecast 2019-2029F, USD Million

-Retail & Consumer Goods- Market Size & Forecast 2019-2029F, USD Million

-Oil & Gas- Market Size & Forecast 2019-2029F, USD Million

-Manufacturing- Market Size & Forecast 2019-2029F, USD Million

-Healthcare- Market Size & Forecast 2019-2029F, USD Million

-Government & Public Sector- Market Size & Forecast 2019-2029F, USD Million

-Construction & Real Estate- Market Size & Forecast 2019-2029F, USD Million

-Others (Education, Entertainment and Media, etc.)- Market Size & Forecast 2019-2029F, USD Million

By Country

-The UAE

-Saudi Arabia

-Oman

-Kuwait

-Bahrain

-Qatar

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Key Players Operating in the GCC Accounting Software Market: –

Microsoft Corporation

-Business Description

-Product Portfolio

-Strategic Alliances or Partnerships

-Recent Developments

-Financial Details

-Others

Epicor

-Business Description

-Product Portfolio

-Strategic Alliances or Partnerships

-Recent Developments

-Financial Details

-Others

Tally Solutions

-Business Description

-Product Portfolio

-Strategic Alliances or Partnerships

-Recent Developments

-Financial Details

-Others

Key Questions Answered:

  • What is the projected CAGR of the GCC Accounting Software Market during the forecast period?
  • Which segment is expected to lead the GCC Accounting Software Market?
  • Who are the prominent players driving market growth?

Key Offerings:

  • Market Share, Size, and Revenue Forecast
  • Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
  • Landscape: Leading key players and other prominent participants

About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfilled their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.

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