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Asia Pacific Construction Accounting Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis- by Offering (Solution and Services), Deployment (On-Premise and Cloud), and Application (Small and Mid-sized Construction Companies and Large Construction Companies)
Market Report I 2023-02-17 I 111 Pages I The Insight Partners
The Asia Pacific construction accounting software market is expected to grow from US$ 190.16 million in 2022 to US$ 301.92 million by 2028. It is estimated to grow at a CAGR of 8.0% from 2022 to 2028.
Increasing Awareness of Implementing Technologies in Construction Industry is Driving the Asia Pacific Construction Accounting Software Market
The construction industry has begun to undergo technological transformation. Companies are implementing technologies to reduce costs and improve safety, efficiency, and quality of construction activities. As construction companies increasingly emphasize accounting decisions to determine the ROI and future of respective businesses, the demand for construction accounting software is rising. Analyzing the financials using accounting software before starting a business allows emerging entrepreneurs to carry out unique business ideas and rapidly and efficiently reflect their vision. A business plan software analysis also enables new business owners to understand the fundraising strategies and expansion policies. Additionally, the software-based accounting plans help the end-user foresee potential problems and obstacles. Thus, many companies are offering construction accounting software due to the rising awareness among new entrepreneurs, which is expected to offer lucrative business opportunities for the Asia Pacific construction accounting software market players in the coming years.
Asia Pacific Construction Accounting Software Market Overview
APAC is one of the largest construction markets in the world. China, India, South Korea, Japan, and Australia are the key contributors to the APAC construction accounting software market. The construction accounting software market in the region is expected to grow at a high CAGR due to the growing construction industry and the increasing adoption of new technologies.
The large population in countries such as India and China have increased the demand for commercial and residential infrastructure. APAC comprises a large number of emerging economies, such as India, China, and other south-eastern countries, which are posting strong demand for more infrastructure projects. Moreover, various countries in the region are focusing on attracting new investments in infrastructure development. For instance, India's government has allowed 100% FDI under automatic routes in completed projects for operations and management of townships, malls/shopping complexes, and business constructions. All the above factors are expected to support the growth of the construction industry in the region, which will fuel the growth of the region's construction accounting software market.
To cater to the increasing demand for urban infrastructure in the region, construction companies in APAC are adopting new technologies to streamline workflows and reduce human errors. Construction accounting software offers various advantages such as more profitable command and control, faster and accurate accounts receivable and payable, safe record-keeping, and financial reporting. Due to these advantages, the companies operating in the market are widely adopting construction accounting software, supporting the growth of Asia Pacific construction accounting software market.
Asia Pacific Construction Accounting Software Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Construction Accounting Software Market Segmentation
The Asia Pacific construction accounting software market is segmented into by offering, deployment, and application, and country.
Based on offering, the Asia Pacific construction accounting software market is segmented into solution and services . The solution segment held the larger Asia Pacific construction accounting software market share in 2022.
Based on deployment, the Asia Pacific construction accounting software market is segmented into on-premise and cloud. The cloud segment held the larger Asia Pacific construction accounting software market share in 2022.
Based on application , the Asia Pacific construction accounting software market is segmented into small and mid-sized construction companies and large construction companies . The large construction companies segment held the larger Asia Pacific construction accounting software market share in 2022
Based on country, the Asia Pacific construction accounting software market is segmented into the China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The China dominated the Asia Pacific construction accounting software market share in 2022.
Chetu Inc; Deltek Inc; FreshBooks USA Inc; Intuit Inc; Sage Group Plc; Viewpoint Inc; and Xero Ltd are the leading companies operating in the Asia Pacific construction accounting software market.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Construction Accounting Software Market - By Offering
1.3.2 Asia Pacific Construction Accounting Software Market - By Deployment
1.3.3 Asia Pacific Construction Accounting Software Market - By Application
1.3.4 Asia Pacific Construction Accounting Software Market - By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Construction Accounting Software Market Landscape
4.1 Market Overview
4.2 APAC- PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Asia Pacific Construction Accounting Software Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Construction Industry
5.1.2 Rising Penetration of ERP Modules in Construction Industry
5.2 Market Restraints
5.2.1 High Reliance on Traditional Accounting Tools
5.3 Market Opportunities
5.3.1 Increasing Awareness of Implementing Technologies in Construction Industry
5.4 Future Trends
5.4.1 Enhancing Data Security to Prevent Data Loss
5.5 Impact Analysis of Drivers and Restraints
6. Asia Pacific Construction Accounting Software Market -Market Analysis
6.1 Asia Pacific Construction Accounting Software Market Overview
6.2 Asia Pacific Construction Accounting Software Market Forecast and Analysis
7. Asia Pacific Construction Accounting Software Market Analysis - By Offering
7.1 Overview
7.2 Asia Pacific Construction Accounting Software Market, by Offering (2021 and 2028)
7.3 Solution
7.3.1 Overview
7.3.2 Solution: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
8. Asia Pacific Construction Accounting Software Market Analysis - By Deployment
8.1 Overview
8.2 Asia Pacific Construction Accounting Software Market, by Deployment (2021 and 2028)
8.3 Cloud
8.3.1 Overview
8.3.2 Cloud: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
8.4 On-Premise
8.4.1 Overview
8.4.2 On Premise: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
9. Asia Pacific Construction Accounting Software Market - By Application
9.1 Overview
9.2 Asia Pacific Construction Accounting Software Market, by Application (2021 and 2028)
9.3 Small and Mid-sized Construction Companies
9.3.1 Overview
9.3.2 Small and Mid-Sized Construction Companies: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
9.4 Large Construction Companies
9.4.1 Overview
9.4.2 Large Construction Companies: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
10. Asia Pacific Construction Accounting Software Market - Country Analysis
10.1 Overview
10.1.1 Asia Pacific Construction Accounting Software Market, by Key Country- Revenue (2021) (US$ Million)
10.1.2 Asia Pacific Construction Accounting Software Market- by Country
10.1.2.1 Australia: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.1.1 Australia: Asia Pacific Construction Accounting Software Market- by Offering
10.1.2.1.2 Australia: Asia Pacific Construction Accounting Software Market- by Deployment
10.1.2.1.3 Australia: Asia Pacific Construction Accounting Software Market- By Application
10.1.2.2 China: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.2.1 China: Asia Pacific Construction Accounting Software Market- by Offering
10.1.2.2.2 China: Asia Pacific Construction Accounting Software Market- by Deployment
10.1.2.2.3 China: Asia Pacific Construction Accounting Software Market- By Application
10.1.2.3 India: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.3.1 India: Asia Pacific Construction Accounting Software Market- by Offering
10.1.2.3.2 India: Asia Pacific Construction Accounting Software Market- by Deployment
10.1.2.3.3 India: Asia Pacific Construction Accounting Software Market- By Application
10.1.2.4 Japan: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.4.1 Japan: Asia Pacific Construction Accounting Software Market- by Offering
10.1.2.4.2 Japan: Asia Pacific Construction Accounting Software Market- by Deployment
10.1.2.4.3 Japan: Asia Pacific Construction Accounting Software Market- By Application
10.1.2.5 South Korea: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.5.1 South Korea: Asia Pacific Construction Accounting Software Market- by Offering
10.1.2.5.2 South Korea: Asia Pacific Construction Accounting Software Market- by Deployment
10.1.2.5.3 South Korea: Asia Pacific Construction Accounting Software Market- By Application
10.1.2.6 Rest of Asia Pacific: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
10.1.2.6.1 Rest of Asia Pacific: Asia Pacific Construction Accounting Software Market- by Offering
10.1.2.6.2 Rest of Asia Pacific: Asia Pacific Construction Accounting Software Market- by Deployment
10.1.2.6.3 Rest of Asia Pacific: Asia Pacific Construction Accounting Software Market- By Application
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Chetu Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Deltek Inc
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 FreshBooks USA Inc
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Intuit Inc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Sage Group Plc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Viewpoint Inc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Xero Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. Asia Pacific Construction Accounting Software Market, Revenue and Forecast, 2019-2028 (US$ Mn)
Table 2. Australia: Asia Pacific Construction Accounting Software Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Asia Pacific Construction Accounting Software Market- by Deployment -Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Asia Pacific Construction Accounting Software Market- By Application-Revenue and Forecast to 2028 (US$ Million)
Table 5. China: Asia Pacific Construction Accounting Software Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Asia Pacific Construction Accounting Software Market- by Deployment -Revenue and Forecast to 2028 (US$ Million)
Table 7. China: Asia Pacific Construction Accounting Software Market- By Application-Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Asia Pacific Construction Accounting Software Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 9. India: Asia Pacific Construction Accounting Software Market- by Deployment -Revenue and Forecast to 2028 (US$ Million)
Table 10. India: Asia Pacific Construction Accounting Software Market- By Application-Revenue and Forecast to 2028 (US$ Million)
Table 11. Japan: Asia Pacific Construction Accounting Software Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 12. Japan: Asia Pacific Construction Accounting Software Market- by Deployment -Revenue and Forecast to 2028 (US$ Million)
Table 13. Japan: Asia Pacific Construction Accounting Software Market- By Application-Revenue and Forecast to 2028 (US$ Million)
Table 14. South Korea: Asia Pacific Construction Accounting Software Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 15. South Korea: Asia Pacific Construction Accounting Software Market- by Deployment -Revenue and Forecast to 2028 (US$ Million)
Table 16. South Korea: Asia Pacific Construction Accounting Software Market- By Application-Revenue and Forecast to 2028 (US$ Million)
Table 17. Rest of Asia Pacific: Asia Pacific Construction Accounting Software Market- by Offering -Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Asia Pacific: Asia Pacific Construction Accounting Software Market- by Deployment -Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of Asia Pacific: Asia Pacific Construction Accounting Software Market- By Application-Revenue and Forecast to 2028 (US$ Million)
Table 20. Glossary of Terms, Asia Pacific Construction Accounting Software Market
LIST OF FIGURES
Figure 1. Asia Pacific Construction Accounting Software Market Segmentation
Figure 2. Asia Pacific Construction Accounting Software Market Segmentation - Country
Figure 3. Asia Pacific Construction Accounting Software Market Overview
Figure 4. Asia Pacific Construction Accounting Software Market, By Offering
Figure 5. Asia Pacific Construction Accounting Software Market, By Country
Figure 6. APAC: PEST Analysis
Figure 7. Asia Pacific Construction Accounting Software Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Asia Pacific Construction Accounting Software Market Impact Analysis of Drivers and Restraints
Figure 10. Asia Pacific Construction Accounting Software Market, Forecast and Analysis (US$ Mn)
Figure 11. Asia Pacific Construction Accounting Software Market Revenue Share, By Offering (2021 and 2028)
Figure 12. Solution: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 13. Services: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 14. Asia Pacific Construction Accounting Software Market Revenue Share, By Deployment (2021 and 2028)
Figure 15. Cloud: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 16. On Premise: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 17. Asia Pacific Construction Accounting Software Market Revenue Share, By Application (2021 and 2028)
Figure 18. Small and Mid-sized Construction Companies: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. Large Construction Companies: Asia Pacific Construction Accounting Software Market- Revenue and Forecast to 2028 (US$ Million)
Figure 20. Asia Pacific Construction Accounting Software Market Revenue Share, By Country (2021 and 2028)
Figure 21. Australia: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. China: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 23. India: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Japan: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. South Korea: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Rest of Asia Pacific: Asia Pacific Construction Accounting Software Market - Revenue and Forecast to 2028 (US$ Million)
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