In financial management and accounting, QuickBooks has consistently stood out from the rest because of many reasons. The software has become synonymous with streamlined accounting/bookkeeping, efficient financial reporting, and simplified tax management for businesses, entrepreneurs, and financial professionals. It has revolutionized how individual practitioners and CPA/tax firms manage their finances and clients.
Since businesses constantly seek innovative solutions to stay competitive, QuickBooks has emerged as a symbol of efficiency and reliability. From its early launch to becoming a dominant player in the accounting software arena, it is nothing short of remarkable.
To help you better understand the utility and popularity of QuickBooks, we have created this complete guide to QuickBooks market share, competitor insights, and the broader industry context that surrounds it.
What Makes QuickBooks A Financial Software Marvel?
QuickBooks was developed and marketed by Intuit Inc. and was first launched in the early 1980s. Since then, it has evolved into a comprehensive suite of financial management tools and caters to businesses of all sizes. From sole proprietors and small startups to established corporations, QuickBooks has found its way into the heart of financial operations across various industries. It can be because of the availability of multiple QuickBooks versions – QuickBooks Pro, Premium, Enterprise, Online, and others, each of which caters to the specific needs of business owners. Besides this, the annual software upgrade makes the new editions of QuickBooks available to the users.
Also Read: All About QuickBooks Software
QuickBooks Market Share Dominance
To understand the significance of QuickBooks, let’s start by looking at its market share. According to recent industry reports, QuickBooks commands an impressive share in the financial software market. This dominance signifies the software’s unparalleled functionality and user-friendly interface which makes it a preferred choice for millions of businesses worldwide.
Here are various other QuickBooks market statistics you should know:
- QuickBooks has a market share of 84.27% in the Small Business Accounting category.
- More than 73000 companies (tracked by the reliable source in use and based on the information available in public) started using QuickBooks in 2023 as an accounting tool for small businesses.
- Top companies in the U.S. like Visa Inc. and Shopify having more than 10,000 employees use QuickBooks.
QuickBooks Usage Based on Industry
Given below is the list of the top industries where QuickBooks is used as a financial management tool:
- Information Technology and Services
- Computer software
- Financial services
- Real estate
- Non-profit organizations
QuickBooks Usage Based on Geography
Here is the list of countries QuickBooks is used:
- United States
- United Kingdom
QuickBooks Usage Statistics Based on Number of Employees in an Organization
The following table highlights the distribution of companies where QuickBooks is used in relation to the corresponding number of employees:
|Number of Employees||Number of Organizations Using QuickBooks (Apx.)|
|More than 10,000||3000|
|Between 5000 and 10,000||2000|
|Between 1000 and 5000||7300|
|Between 500 and 1000||6400|
|Between 200 and 500||12.500|
|Between 50 and 200||40,000|
|Between 10 and 50||74,000|
|Between 1 and 10||44,000|
QuickBooks Usage Statistics Based on Business Revenue
The following table highlights the distribution of companies where QuickBooks is used in terms of the corresponding revenue:
|Revenue (in $Million)||Number of Organizations Using QuickBooks (Apx.)|
|Between 0 to 1 Million||44000|
|Between 1 to 10 Million||90000|
|Between 10 to 50 Million||28000|
|Between 50 to 100 Million||6900|
|Between 100 to 200 Million||4300|
|Between 200 to 1000 Million||5400|
|More than 1000 Million||4500|
Recommended Read: Best QuickBooks Alternatives for Small Businesses
The information provided here is mainly based on the data available from reputable reference sites and sources selected for research. While we have taken utmost care to ensure accuracy and reliability, it’s essential to acknowledge that statistics, market share figures, and competitor insights may vary over time.
Therefore, we encourage readers to verify the most current information by consulting official reports, industry publications, and the latest data from authoritative sources. The purpose of this blog post is to provide an informative overview of the topic at hand. It should not be considered a substitute for professional advice or comprehensive research.
The authors and publishers of this blog post do not assume responsibility for any decisions or actions taken based on the information presented herein. Readers are advised to exercise due diligence and consult with relevant experts or industry professionals for specific and up-to-date insights.