In a recently published report, Account Reconciliation Software Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Account Reconciliation Software Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
The Account Reconciliation Software Market is continuously growing across the world over the coming years. The major driving factor of global Account Reconciliation Software market are increasing requirement for standardized activities in bank and growing implementation of customer-centric banking solutions. Growing adoption of automated banking solutions due to high quality and reduced reconciliation time is supplementing the development of this market. The major restraining factor of global account reconciliation software market are high implementation cost & data security and privacy concern.
Reconciliation is an accounting method that uses process information and mathematical methods in order to endorse that number are accurate and in arrangement. The software which help in reducing risk, improving quality and save time through automated operations in accounting is known as account reconciliation software. The major benefits of account reconciliation software market are it eliminates accounting error by reconciliation on monthly basis, it keeps your business deposit correct, it can help to identify bank fees and other hidden expenses that you might not know you are paying and it track all the transactions and reconciling balances each month can keep from having an overdraft or missing a payment.
The regional analysis of Global Account Reconciliation Software Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to technological advancement and wide scope of improvement in banking and financial sector. Europe also contributes a satisfactory growth in the global Account Reconciliation Software market due to growing investment by European banks. Asia-Pacific is also anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 due to increasing population and necessity for fast & automated banking solution.
The major market player included in this report are:
• Broadridge
• Autorek
• ReconArt
• SmartStream
• Oracle
• SS&C
• Adra
• BlackLine
• Treasury
• Xero
• DataLog
• Cashbook
• Rimilia
• Fiserv
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
. Cloud-based
. On-premises
By Application:
. Banks
. Enterprises
By Regions:
. North America
o U.S.
o Canada
. Europe
o UK
o Germany
. Asia Pacific
o China
o India
o Japan
. Latin America
o Brazil
o Mexico
. Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Account Reconciliation Software Market in Market Study:
. Key Consulting Companies & Advisors
. Large, medium-sized, and small enterprises
. Venture capitalists
. Value-Added Resellers (VARs)
. Third-party knowledge providers
. Investment bankers
. Investors
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TABLE OF CONTENTS
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Key Trends
1.3. Global & Segmental Market Estimates & Forecasts, 2015-2025 (USD Billion)
1.3.1. Account Reconciliation Software Market, by Type, 2015-2025 (USD Billion)
1.3.2. Account Reconciliation Software Market, by Application, 2015-2025 (USD Billion)
1.3.3. Account Reconciliation Software Market, by Region, 2015-2025 (USD Billion)
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Account Reconciliation Software Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Account Reconciliation Software Market Dynamics
3.1. See Saw Analysis
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Account Reconciliation Software Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Buyers
4.1.2. Bargaining Power of Suppliers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.2. PEST Analysis
4.2.1. Political Scenario
4.2.2. Economic Scenario
4.2.3. Social Scenario
4.2.4. Technological Scenario
4.3. Value Chain Analysis
4.3.1. Supplier
4.3.2. Manufacturers/Service Provider
4.3.3. Distributors
4.3.4. End-Users
4.4. Key Buying Criteria
4.5. Regulatory Framework
4.6. Cost Structure Analysis
4.6.1. Raw Material Cost Analysis
4.6.2. Manufacturing Cost Analysis
4.6.3. Labour Cost Analysis
4.7. Investment Vs Adoption Scenario
4.8. Analyst Recommendation & Conclusion
Chapter 5. Account Reconciliation Software Market, by Type
5.1. Market Snapshot
5.2. Market Performance – Potential Model
5.3. Key Market Players
5.4. Account Reconciliation Software Market, Sub Segment Analysis
5.4.1. Cloud Based
5.4.1.1. Market estimates & forecasts, 2015-2025 (USD Billion)
5.4.1.2. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)
5.4.2. On-premises
5.4.2.1. Market estimates & forecasts, 2015-2025 (USD Billion)
5.4.2.2. Regional breakdown estimates & forecasts, 2015-2025 (USD Billion)
Chapter 6. Account Reconciliation Software Market, by Application
6.1. Market Snapshot
6.2. Market Performance – Potential Model
6.3. Key Market Players
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