Asia-Pacific Construction Accounting Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Solutions and Services), Deployment Type (Cloud and On-premises), and Application (SMEs and Large Enterprises)
The construction accounting software market in APAC is expected to grow from US$ 201.98 million in 2019 to US$ 384.38 million by 2027; it is estimated to grow at a CAGR of 8.9% from 2020 to 2027.
Australia, India, China, Japan, South Korea are major economies in APAC. ERP modules increasing their invasion in construction industry has witnessed growth in recent years which is driving the APAC construction accounting software market. Building information management (BIM) has steadily become a priority among engineering and construction businesses. In some markets, mainly in India it is basically supporting the Government Construction Strategy, where acquirement rules for projects may be renewed. There has been a transition towards building minimum levels of BIM mandatory to avail tender in government-funded construction projects. This compulsion to move to a greater level of the agreement will only intensify in the future, the adoption of BIM. For companies in the engineering and construction business, acknowledging ERP or enterprise asset management (EAM) and project management preferences has become utmost important. For organizations in the engineering and construction market, considering ERP or enterprise asset management (EAM) and project management preferences, these trends promote an integrated approach's importance. Construction accounting software can be simply integrated with ERP modules. As more of the large construction companies are considering ERP modules for a more conventional flow of their business, the requirement for construction accounting software is also set to expand, which is further anticipated to drive the market in APAC.
Further, the ongoing COVID-19 is causing havoc in APAC region. The APAC is characterized by the presence of a large number of developing countries, positive economic outlook, high industrial presence, and a huge population. The high growth rate of urbanization and industrialization in developing countries of the region is anticipated to offer ample growth opportunities to the market players operating in the construction accounting software market, as the investments in advanced technologies development are quite high in the region. According to the Organization for Economic Co-operation and Development (OECD), the other major economies outside of China have also impacted by the pandemic, such as huge India, South Korea, Australia, and Japan. China and India are among the worst-affected COVID-19 countries in the region, as well as in the world. The governments are taking drastic measures to reduce the effects of coronavirus outbreak by announcing lockdowns, travel, and trade bans. The construction sector in the countries mentioned above have been experiencing less building activities and a weak supply chain. Additionally, the labor shortage has affected the construction sector in these countries. The construction companies are foreseen to revive substantial development of infrastructures by 2021, which is anticipated again to create demand for construction accounting software. This, in turn, is expected to have positive impact on the construction accounting software market in the coming years.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC construction accounting software market. The APAC construction accounting software market is expected to grow at a good CAGR during the forecast period.
APAC Construction Accounting Software Market
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APAC Construction Accounting Software Market Segmentation
APAC Construction Accounting Software Market – By Component
- Solutions
- Services
APAC Construction Accounting Software Market – By Deployment Type
- Cloud
- On-Premises
APAC Construction Accounting Software Market – By Application
- SMEs
- Large Enterprises
APAC Construction Accounting Software Market, by Country
- Australia
- China
- India
- Japan
- South Korea
- Rest of APAC
APAC Construction Accounting Software Market - Companies Mentioned
- Chetu Inc.
- Intuit Inc.
- Sage Group plc
- Viewpoint, Inc.
- Xero Limited
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Construction Accounting Software Market – By Component
1.3.2 APAC Construction Accounting Software Market – By Deployment
1.3.3 APAC Construction Accounting Software Market – By Application
1.3.4 APAC Construction Accounting Software Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Construction Accounting Software Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Construction Accounting Software – Key Market Dynamics
5.1 Drivers
5.1.1 Construction Industry Hugely Expanding
5.1.2 ERP modules Increasing their Invasion in the construction industry
5.2 Restraints
5.2.1 Greater Inclination Over Typical Accounting Tools
5.3 Market Opportunities
5.3.1 Developing Countries Realizing Need of Construction
5.4 Future Trends
5.4.1 Upcoming of Modern Data Security Technology to Stop Data Loss
5.5 Impact Analysis of Drivers and Restraints
6. Construction Accounting Software Market – APAC Market Analysis
6.1 Construction Accounting Software Market APAC Overview
6.2 APAC Construction Accounting Software Market Forecast and Analysis
6.3 Market Positioning – Five Key Players
7. APAC Construction Accounting Software Market Analysis – By Component
7.1 Overview
7.2 APAC Construction Accounting Software Market Breakdown, by Component, 2019 & 2027
7.3 Solution
7.3.1 Overview
7.3.2 Solution Market Revenue and Forecast to 2027 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services Market Revenue and Forecast to 2027 (US$ Million)
8. APAC Construction Accounting Software Market Analysis – By Deployment Type
8.1 Overview
8.2 APAC Construction Accounting Software Market Breakdown, by Deployment Type, 2019 & 2027
8.3 Cloud
8.3.1 Overview
8.3.2 Cloud Market Revenue and Forecast to 2027 (US$ Million)
8.4 On-Premise
8.4.1 Overview
8.4.2 On-Premise Market Revenue and Forecast to 2027 (US$ Million)
9. APAC Construction Accounting Software Market Analysis – By Application
9.1 Overview
9.2 APAC Construction Accounting Software Market Breakdown, by Application, 2019 & 2027
9.3 SMEs
9.3.1 Overview
9.3.2 SMEs Market Revenue and Forecast to 2027 (US$ Million)
9.4 Large Enterprises
9.4.1 Overview
9.4.2 Large Enterprises Market Revenue and Forecast to 2027 (US$ Million)
10. APAC Construction Accounting Software Market – Country Analysis
10.1 Overview
10.1.1 APAC: Construction Accounting Software Market, By Country
10.1.1.1 Australia: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 Australia: Construction Accounting Software Market, by Component
10.1.1.1.2 Australia: Construction Accounting Software Market, by Deployment Type
10.1.1.1.3 Australia: Construction Accounting Software Market, by Application
10.1.1.2 China: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 China: Construction Accounting Software Market, by Component
10.1.1.2.2 China: Construction Accounting Software Market, by Deployment Type
10.1.1.2.3 China: Construction Accounting Software Market, by Application
10.1.1.3 India: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 India: Construction Accounting Software Market, by Component
10.1.1.3.2 India: Construction Accounting Software Market, by Deployment Type
10.1.1.3.3 India: Construction Accounting Software Market, by Application
10.1.1.4 Japan: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.4.1 Japan: Construction Accounting Software Market, by Component
10.1.1.4.2 Japan: Construction Accounting Software Market, by Deployment Type
10.1.1.4.3 Japan: Construction Accounting Software Market, by Application
10.1.1.5 South Korea: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.5.1 South Korea: Construction Accounting Software Market, by Component
10.1.1.5.2 South Korea: Construction Accounting Software Market, by Deployment Type
10.1.1.5.3 South Korea: Construction Accounting Software Market, by Application
10.1.1.6 Rest of APAC: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.6.1 Rest of APAC: Construction Accounting Software Market, by Component
10.1.1.6.2 Rest of APAC: Construction Accounting Software Market, by Deployment Type
10.1.1.6.3 Rest of APAC: Construction Accounting Software Market, by Application
11. APAC Construction Accounting Software Market- COVID-19 Impact Analysis
11.1 APAC
12. Industry Landscape
12.1 Mergers and Acquisitions
13. Company Profiles
13.1 Chetu Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Intuit Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Sage Group plc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Viewpoint, inc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Xero Limited
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. APAC Construction Accounting Software Market Revenue and Forecasts to 2027 (US$ Million)
Table 2. Australia: Construction Accounting Software Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 3. Australia Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 4. Australia: Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 5. Australia: Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 6. China: Construction Accounting Software Market, by Components – Revenue and Forecast to 2027 (US$ Million)
Table 7. China Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 8. China: Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. China: Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 10. India: Construction Accounting Software Market, by Components – Revenue and Forecast to 2027 (US$ Million)
Table 11. India Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 12. India: Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 13. India: Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 14. Japan: Construction Accounting Software Market, by Components – Revenue and Forecast to 2027 (US$ Million)
Table 15. China Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 16. Japan: Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 17. Japan: Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 18. South Korea: Construction Accounting Software Market, by Component– Revenue and Forecast to 2027 (US$ Million)
Table 19. South Korea Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 USD Million)
Table 20. South Korea: Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 21. South Korea: Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 22. Rest of APAC: Construction Accounting Software Market, by Component – Revenue and Forecast to 2027 (US$ Million)
Table 23. Rest of APAC Construction Accounting Software Market, by Services – Revenue and Forecast to 2027 (USD Million)
Table 24. Rest of APAC: Construction Accounting Software Market, by Deployment Type – Revenue and Forecast to 2027 (US$ Million)
Table 25. Rest of APAC: Construction Accounting Software Market, by Application – Revenue and Forecast to 2027 (US$ Million)
Table 26. APAC Construction Accounting Software Market: List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Construction Accounting Software Market Segmentation
Figure 2. APAC Construction Accounting Software Market Segmentation – By Country
Figure 3. APAC Construction Accounting Software Market Overview
Figure 4. Cloud-Based Deployment held the Largest Share of APAC Construction Accounting Software Market
Figure 5. Large Enterprises Segment held the Largest Share of APAC Construction Accounting Software Market
Figure 6. China held the Largest Share of APAC Construction Accounting Software Market
Figure 7. Solution Segment held the Largest Share of APAC Construction Accounting Software Market
Figure 8. Porter’s Five Forces Analysis
Figure 9. APAC Construction Accounting Software Market– Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. APAC Construction Accounting Software Market: Impact Analysis of Drivers and Restraints
Figure 12. APAC Construction Accounting Software Market Forecast and Analysis, (US$ Million)
Figure 13. APAC Construction Accounting Software Market Breakdown, by Component, 2019 & 2027 (%)
Figure 14. APAC Solution Market Revenue and Forecast to 2027(US$ Million)
Figure 15. APAC Services Market Revenue and Forecast to 2027(US$ Million)
Figure 16. APAC Construction Accounting Software Market Breakdown, by Deployment type, 2019 & 2027 (%)
Figure 17. APAC Cloud Market Revenue and Forecast to 2027(US$ Million)
Figure 18. APAC On-Premise Market Revenue and Forecast to 2027(US$ Million)
Figure 19. APAC Construction Accounting Software Market Breakdown, by Application, 2019 & 2027 (%)
Figure 20. APAC SMEs Market Revenue and Forecast to 2027(US$ Million)
Figure 21. APAC Large Enterprises Market Revenue and Forecast to 2027(US$ Million)
Figure 22. APAC: Construction Accounting Software Market Revenue Share, By Country (2019 and 2027)
Figure 23. Australia: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. China: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. India: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Japan: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 27. South Korea: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 28. Rest of APAC: Construction Accounting Software Market – Revenue and Forecast to 2027 (US$ Million)
Figure 29. Impact of COVID-19 Pandemic in APAC Country Markets
- Chetu Inc.
- Intuit Inc.
- Sage Group plc
- Viewpoint, Inc.
- Xero Limited
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC construction accounting software market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC construction accounting software market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the construction accounting software market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution