Cloud segment is expected to experience significant growth in the coming years
WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 30, 2024 /EINPresswire.com/ -- The ๐๐ ๐๐๐ญ๐๐ข๐ฅ ๐๐๐๐จ๐ง ๐๐จ๐๐ญ๐ฐ๐๐ซ๐ ๐๐๐ซ๐ค๐๐ญ size was valued at $108.75 million in 2019, and is projected to reach $264.37million by 2027, growing at a CAGR of 11.8% from 2020 to 2027. Reconciliation (Recon) software helps retail industry to identify the risk associated with their business and helps to eradicate human errors while accounting. In addition, it provides real-time updates at every stage of the accounting process. It offers different benefits, which include reducing errors, tracking interest fees, tracking receivable, and reducing the risk of fraud.๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ญ ๐ ๐ฎ๐ฅ๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง ๐๐๐ - 132 ๐๐๐ ๐๐ฌ) ๐๐ญ: https://www.alliedmarketresearch.com/request-sample/A06260
Based on retailer size, the large retailers segment accounted for nearly three-fourths of the US retail recon software market revenue in 2019, and is projected to lead the trail till 2027. This is due to increase in adoption of these systems in large organizations. Simultaneously, the small & medium retailers segment would register the fastest CAGR of 13.4% throughout the study period. This is attributed to the rise in adoption of this software by the SMEs.
Rise in online transaction, increase in need for reconciliation management, and substantial savings for retailers with high volume bank reconciliation needs fuel the growth of the U.S. retail recon software market. On the other hand, different security issues faced by retailers impede the growth to some extent. However, growth in usage of machine learning and artificial intelligence in recon software is expected to create multiple opportunities in the industry.
๐๐ฎ๐ฒ ๐๐จ๐ฐ & ๐๐๐ญ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐ข๐ฌ๐๐จ๐ฎ๐ง๐ญ ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ : https://www.alliedmarketresearch.com/us-retail-recon-software-market/purchase-options
The transaction matching segment is expected to garner a significant share during the forecast period. Surge in need to identify high-risk transaction activities and increase in need to protect transactional data boost the market growth in this segment. However, the SMRs segment is expected to grow at the highest rate during the forecast period, owing to various benefits provided by reporting & analytic software such as enabling better strategic decision-making, reducing inventory cost, enhancing profitability, and enabling organizations to improve their market position are expected to drive of the U.S. retail recon software market.
Based on component, the software segment contributed to more than two-thirds of the US retail recon software market share in 2019, and is expected to rule the roost by the end of 2027. The fact that reconciliation software is faster to deploy drives the growth of the segment. The service segment, on the other hand, would grow at the fastest CAGR of 13.3% during the forecast period. Rise in need of different services such as managed services and professional services boosts the segment growth.
๐๐ก๐ ๐ค๐๐ฒ ๐ฉ๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ฉ๐ซ๐จ๐๐ข๐ฅ๐๐ ๐ข๐ง ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ง๐๐ฅ๐ฎ๐๐
๐๐๐๐๐๐๐๐, ๐๐๐., ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐, ๐๐๐๐๐๐๐๐, ๐๐๐๐๐๐๐๐๐ ๐๐๐., ๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐ & ๐๐๐๐๐, ๐๐๐., ๐ ๐๐๐๐๐, ๐๐๐., ๐๐๐๐๐๐๐, ๐๐๐๐๐๐๐, ๐๐๐๐๐๐๐๐๐๐ ๐ ๐๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐, ๐๐๐., ๐๐๐ ๐๐
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐ฐ๐ข๐ญ๐ก ๐ฒ๐จ๐ฎโ๐ซ๐ ๐๐๐ช๐ฎ๐ข๐ซ๐๐ฆ๐๐ง๐ญ๐ฌ: https://www.alliedmarketresearch.com/request-for-customization/A06260
Surge in online transactions in the retail industry and rise in need for reconciliation management system drive the growth of the U.S. retail recon software market. In addition, substantial saving for U.S. retailers with high volume bank reconciliation needs fuels the growth of the market. However, various security issues in reconciliation software hamper the growth of the market. Furthermore, higher adoption of recon software among the SMRs and surge in usage of machine learning and artificial intelligence in recon software are expected to provide lucrative opportunities for the growth of the U.S. retail recon software market.
Based on reconciliation type, the account reconciliation segment held the largest share in 2019, generating two-fifths of the US retail recon software market, owing to the presence of the feature for identifying and quantifying the risks associated with any business so that they can be detected and avoided. At the same time, the payment reconciliation segment is projected to grow at the fastest CAGR of 12.8% by 2027, owing to rise in adoption of this software by various small and medium size retailers.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A06260
By reconciliation type, the U.S. retail recon software market was led by the account reconciliation segment in 2019 and is projected to maintain its dominance during the forecast period. Account reconciliation helps in identifying and quantifying the risks associated with their business so that they can be detected and avoided which is the major factor driving the growth of the market. However, the payment reconciliation segment is expected to grow at the highest rate during the forecast period, owing to the rise in adoption of this software by various small and medium size retailers.
๐๐ญ๐ก๐๐ซ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
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