Global Artificial Intelligence In Accounting Market Competitive Landscape, Top Market Segments, And Fastest Growing Regions
30 Nov, 2023
The global artificial intelligence in accounting market is expected to grow from $2.18 billion in 2022 to $3.24 billion in 2023 at a compound annual growth rate (CAGR) of 48.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The artificial intelligence in accounting market is expected to reach $15.69 billion in 2027 at a CAGR of 48.3%.
Global Artificial Intelligence In Accounting Market Key Driver
The increasing reliance on artificial intelligence (AI) is expected to boost the growth of artificial intelligence in the accounting market in the coming years. Automation, a technology that reduces human inputs in performing activities, is prevalent in the accountancy industry, where AI-powered accounting software automates data input and matching. This results in a quicker, more precise, and less error-prone accounting process, enhancing the overall efficiency of accounting operations.
Get a sample of the global artificial intelligence in accounting market reportGlobal Artificial Intelligence In Accounting Market Segments
The global artificial intelligence in accounting market is segmented:
1) By Component: Solutions, Services
2) By Technology: Machine Learning (ML) And Deep Learning, Natural Language Processing
3) By Deployment Mode: Cloud, On-Premises
4) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
5) By Application: Automated Bookkeeping, Invoice Classification And Approvals, Fraud And Risk Management, Reporting, Other Applications (Expense And Auditing Management, And Tax And Revenue Filing)
6) By Geography: The regions covered in the artificial intelligence in accounting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global artificial intelligence in accounting market.
Major Artificial Intelligence In Accounting Industry Players
Artificial Intelligence In Accounting Market Overview
Artificial intelligence (AI) in accounting refers to the application of AI to improve the effectiveness of fundamental and core processes and procedures in a way that eventually results in better business decisions. It is used to automate routine processes, spot trends in financial data, and offer knowledge to guide corporate decisions.
Artificial Intelligence In Accounting Global Market Report 2023 provides data on the global artificial intelligence in accounting market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The artificial intelligence in accounting market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.