Worldwide Financial Accounting Applications 2014–2018 Forecast and 2013 Vendor Shares
This IDC study provides a sizing of the financial accounting applications market in 2013 along with a 2014–2018 forecast. Historical and forecast revenue data is shown for the total worldwide market by geographic region and operating environment. Worldwide revenue for the financial accounting applications market was $17.2 billion in 2013, representing growth of 2.6% over 2012.
"Demand for cloud solutions for the centerpiece of financial applications (e.g., general ledger, accounts receivable, accounts payable) is building as enterprises of all sizes look to upgrade and modernize outdated applications. The shift from on-premise applications with the big up-front license payment to cloud with its typically monthly subscription will cause a disruption for a while. But as the number of subscription clients grows, and the number of users accessing the cloud applications increases, the revenue will start to smooth out," says Christine Dover, research director, Enterprise Applications and Digital Commerce.
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