Market size for equipment leasing, tracking, and accounting software for the oil & gas industry
Due to the specific details of this request as well as the small size of the market when looked at from a global perspective, and after exhaustive searching, no information could be found to determine the market size of the equipment leasing tracking and accounting software in North America. Some related information could be found including the top five oil and gas accounting software with tracking capabilities, SAP oil and gas module features, and some general statistics.
Below you'll find an outline of my research methodology to better understand why there's a lack of information, as well as a deep dive into our findings.
The market size of equipment leasing tracking and accounting software in Northern America is a very specific request and forms only a small percentage of the global accounting industry, thus sourcing pre-compiled information proved very challenging.
Naturally, I first sourced the market size of equipment leasing tracking and accounting software industry for oil and gas, in US and Canada specifically, however no current or old reports were available. I, then, widened my search to determine North America's market share percentage globally. The only information available was for leasing tracking and accounting software for the US and none available specifically for equipment leasing market.
Since no direct information was available, I attempted triangulation. I tried to find any details on the global accounting market size, the oil and gas industry, and/ or equipment leasing tracking and accounting software in an attempt to determine the market size of North America (Canada and US) but with no success.
I looked for articles about accounting modules in SAGE, SAP annual reports for mention of the oil and gas industry, I tried to locate market reports on www.ibisworld.com, www.marketsandmarkets.com, www.investopedia.com and csimarket.com, and statistics on www.statistica.com for any information regarding the market share of equipment leasing tracking and accounting software, equipment leasing, oil and gas industry, energy industry, etc.
There were no recent or old articles, reports or statistics on these topics in order to triangulate the information. I tried to look at the various types of leasing tracking accounting software and its usage by the oil and gas industry, again with little success.
Throughout my searching, I could only find limited information related to the equipment leasing tracking and accounting software. I included two articles about the stringent financial and accounting reporting standards for the oil and gas industry. The top five accounting software with tracking abilities, features available and some statistics.
The top five oil and gas accounting software with tracking capabilities include SAGE Intaact, Multiview, Intuit, AcountEdge and SAP anywhere. SAP Oil and Gas Accounting module includes many features such as ownership, upstream graphics, production, measurement system, product control, and so much more.
Vaquero Midstream, a custom natural gas processing solutions provider, have integrated Intaact to establish scalable back office best practices, including multi-entity operations, capital project costing, and sophisticated purchasing controls.
SAGE Intaact is a leader in cloud ERP software. The Cloud ERP feature is gaining momentum among top accounting software in the energy segment of the software accounting industry as well as all-in-one ERP accounting software.
"The energy equipment industry represents 3% of equipment financing new business volume" and as of 2016, the global accounting software industry is $3.06 Billion and is expected to increase to $4.10 Billion in 2021.
Unfortunately, finding information for this request proved extremely challenging. There was limited information related to the topic, however, these articles outline the accounting and financial reporting standards and the trends in accounting software in the oil and gas industry which may prove useful.