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Allied Market Research

Budgeting Software Market By Type (Web Based Software and Mobile Based Software), Deployment (On-Premise and Cloud), and Enterprise Size (Large Enterprises, Small & Medium Enterprises): Global Opportunity Analysis and Industry Forecast, 2021–2030

A11766
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Aug 2021 | 127 Views
   
Author(s) : Vijay Poola
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COVID-19

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Budgeting Software Market Outlook – 2030

Budgeting software aids in the planning and allocation of personal expenditures. Unlike accounting software, which primarily focuses on tracking what we spent or owe, budgeting software is proactive, allowing one to allocate funds before its spent. Budgeting software organizes and simplifies the storage and use of budgeting data. This software aids in the achievement of financial objectives to make new purchases and provide a long-term perspective on investments.

Budgeting software is linked to bank account and functions as a smart cheque book, automatically balancing account and recommending ways to save money. Moreover, a better budgeting software system also includes an integrated workflow management system, which allows the budget manager to keep track of who has updated their information and which budget data has yet to be entered into the system. Therefore, surge in demand for budgeting software is expected to boost the market growth.

The global budgeting software market is segmented on the basis of type, deployment, enterprise size, and region. Based on type, the budgeting software market is bifurcated into web based software and mobile based software. In terms of deployment, the market is categorized into on-premise and cloud. On the basis of enterprise size, the market is divided into large enterprises, small & medium enterprises (SMEs). Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global budgeting software industry include Blackbaud Inc., Deltek Inc., Oracle, Planful Inc., Prophix Software Inc., Questica, Sage Intacct Inc., TimeCamp Inc., Xero Limited, and Adaptive Inc. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global budgeting software market.

Top Impacting Factors

Organizations putting more emphasis on digitalizing their budgeting services and increasing personal budgeting software among developed countries are driving the growth of the market. In addition, rise in adoption of the software as a service propels the growth of the market. However, cash flow volatility and inefficient resource utilization are expected to hamper the growth of the market. Contrarily, increased adoption of budgeting software among developing countries is expected to provide lucrative opportunities to the market in the coming years.

Organizations Putting More Emphasis on Digitalizing their Budgeting Services

One of the most widely adopted strategies in budgeting services to improve core processing capabilities and provide better consumer services and insights has been digitalization. Furthermore, by focusing on digitalization of their budgeting services, these banks have consistently increased their sales percentage. Furthermore, more than half of these investments were linked to online lending and payment systems.

In the banking industry, digitalization has aided organizations and their customers in making better loan management decisions as well as a faster application and disbursement process. Moreover, the growth of the digital lending platform market is fueled by organizations' increased focus on digitalizing their budgeting services to achieve business efficiency and better outcomes. Therefore, organizations putting in more efforts on digitalizing their budgeting services are expected to foster the growth of the budgeting software market during the forecast period.

Increase in Personal Budgeting Software Among Developed Countries

Budgeting software not only provides data for external & internal assessments, annual financial reviews, and financial analysis of the company but also some advanced software versions to assist in debt reduction, budget management, and even financial advice. The ever-growing use of the internet and mobile phones in developing countries opens up numerous opportunities for the expansion of the market. The need to categorize spending to understand how much and where an individual spends has become critical.

Furthermore, countries that outperform other countries in the adoption of budgeting services reflect the global trend of emerging industries. Moreover, the market is expected to grow at a faster rate in developing countries with greater potential for expanding budgeting system solutions. Therefore, increase in personal budgeting software among developed countries is expected to foster the growth of the budgeting software market during the forecast period.

Key Benefits of the Report

  • This study presents analytical depiction of the global budgeting software market forecast along with the current trends and future estimations to determine the imminent investment pockets.      
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the budgeting software market share.      
  • The current market is quantitatively analyzed from 2021 to 2030 to highlight the global budgeting software market growth scenario.             
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed budgeting software market analysis depending on the present and future competitive intensity of the market.

Market Scope and Structure Analysis

Report Metric

Details

  Market Size Available For Years

  2020–2030

  Base Year Considered

  2020

  Forecast Period

  2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

  Type, Deployment, Enterprise Size, and Region

  Regions Covered

North America (U.S. and Canada), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)

  Companies Covered

Blackbaud Inc., Deltek Inc., Oracle, Planful Inc., Prophix Software Inc., Questica, Sage Intacct Inc., TimeCamp Inc., Xero Limited, and Adaptive Inc.

 

COVID-19 Impact Analysis

  • During the COVID-19 outbreak, businesses are dealing with a variety of operational issues. To deal with this situation, many banks and financial institutions are providing new digital tools and techniques to their customers, including personal finance software, which witnessed significant growth.
  • End-users' increased use of online and mobile banking during the pandemic bodes well for the personal finance software market. Furthermore, many fintech and insurance companies have introduced a variety of appealing strategies to encourage SMEs and consumers to use personal software, resulting in a plethora of market growth opportunities.

Budgeting Software Market Key Segments

Segment

Sub-Segment

  Type

  • Web Based Software
  • Mobile Based Software

  Deployment

  • On-Premise
  • Cloud

  Enterprise Size

  • Large Enterprises
  • Small & Medium Enterprises (SMEs)


Questions Answered in the Budgeting Software Market Research Report    

  • Which are the leading players active in the global budgeting software market?
  • What are the detailed impacts of COVID-19 on the budgeting software market size?
  • How current budgeting software market trends will influence the industry in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

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