DUBLIN--(BUSINESS WIRE)--The "Funeral Home Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Deployment Type and Organization Size" report has been added to ResearchAndMarkets.com's offering.
According to this report the market was valued US$ 277.91 million in 2019 and is expected to reach US$ 818.55 million by 2027; it is estimated to grow at a CAGR of 14.6% during 2020-2027.
The report highlights key factors driving the market growth, and prominent players and their developments in the market.
Funeral home software enables scheduling of funeral sessions and communication with clients. The customers are offered a portal through which they can request services and give details about the deceased. The customer can be an individual who knows of his/her sudden demise in the near future or any of the family members. Increase in funeral home software usage in cemeteries, crematories, mortuaries, and funeral homes is one of the major factors driving the market growth during the forecast period. Funeral home software helps in resource scheduling, work order management, credit card payment processing, custom form generation, and case note creation.
Moreover, funeral home software simplifies accounting and reporting processes by keeping track of the amount spent. The software sends reminders for past-due accounts, issuing billing statements, and automatically computes taxes and interest. Moreover, the entries made can be transferred from the accounts receivable system to their general ledger systems without retyping. Thus, it keeps the user up-to-date with live reports on all aspects of the funeral home and saves time from filling out forms and certificates, as the entries automatically get generated. Therefore, the user has to enter data only once. The growing popularity of remembrance suite such as memorial videos, stationery products, portraits of life, and 3D-printed urns are also expected to propel the market growth in the coming years. For example, Life Tributes by funeralOne, the world's leading tribute video software package, creates cinema-quality videos with ease.
North America is one of the most important regions for the adoption and growth of new technologies owing to favorable government policies, presence of large funeral home corporations, and high purchasing power, especially in developed countries such as the US and Canada. At present, the US is the world's worst-affected country due to the COVID-19 outbreak. The US is a prominent market for funeral home software. The huge increase in the number of confirmed cases and reported deaths in the country has propelled the demand for advanced funeral home software solutions. The North America region is home to many chain funeral home corporations, and thus the impact of COVID-19 outbreak is anticipated to be positive in the current scenario.
Reasons to Buy:
- 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 funeral home software market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect technology and solution type.
Market Dynamics
Drivers
- Increase in Geriatric Population and Rise in Number of Deaths
- Integrated Management Platform
Restraints
- Strict Government Mandates and Regulations and Increasing Security Concerns
Opportunities
- Increase in Demand for Personalized Products
Future Trends
- Increase in Number of Start-Ups and Third-Party Service Providers and Use of New Technologies
Companies Mentioned
- CRKN, LLC
- CTV Software Pty Ltd
- FrontRunner Professional
- Funeraltech
- Halcyon
- Osiris Software (Funeral Director's).
- SRS Computing
- Lytesoft
- Aldor Solutions
- Continental Computers, Inc
For more information about this report visit https://www.researchandmarkets.com/r/ikpvfj
