The global artificial intelligence for accounting market is expected to grow from USD 1.5 billion in 2018 to USD 3.2 billion by 2030, at a CAGR of 16.6% during the forecast period. The growth of this market can be attributed to the increasing adoption of AI-based solutions in accounting and finance departments across various industries, such as banking and financial services, manufacturing, retail, healthcare and others.
The global artificial intelligence for accounting market is segmented on the basis of type into hardware (sensors), software (AI-based applications), service (consulting) and AI for accountin (automated bookkeeping). The software segment accounted for the largest share in 2018 due to its wide range of applications across various industries such as banking and financial services, manufacturing, retail, healthcare etc, which are driving its adoption rate globally.
Some Of The Growth Factors Of This Market:
- Artificial intelligence is a technology that can be used to automate tasks and make decisions.
- AI is being used in accounting to automate tasks such as data entry, data analysis, and tax preparation.
- AI can also be used for decision-making purposes such as determining the best course of action for a client based on their financial situation or recommending the best investments for an investor's portfolio based on their risk tolerance level and investment goals.
- The use of artificial intelligence in accounting will help accountants save time by automating tasks and making decisions more quickly than they could without it, which will allow them to focus on higher-level work that requires human judgment or creativity instead of routine work that can be done by machines more efficiently than humans can do it themselves.
- Artificial intelligence has been shown to improve accuracy rates when compared with human accountants because machines are less likely to make mistakes due to fatigue or other factors that may affect human performance over time.
Industry Growth Insights published a new data on “Artificial Intelligence for Accounting Market”. The research report is titled “Artificial Intelligence for Accounting Market research by Types (Hardware, Software, Service, Artificial Intelligence for Accountin), By Applications (Automated Bookkeeping, Invoice Classification and Approvals, Fraud and Risk Management, Others), By Players/Companies Microsoft, AWS, Xero, Intuit, Sage, OSP, UiPath, Kore.ai, AppZen, YayPay, IBM, Google, EY, Deloitte, PwC, KPMG, SMACC, OneUp, Vic.ai, Hyper Anna, Botkeeper, MindBridge Analytics, Artificial Intelligence for Accountin”.
Scope Of The Report
Report Attributes
Report Details
Report Title
Artificial Intelligence for Accounting Market Research Report
By Type
Hardware, Software, Service, Artificial Intelligence for Accountin
By Application
Automated Bookkeeping, Invoice Classification and Approvals, Fraud and Risk Management, Others
By Companies
Microsoft, AWS, Xero, Intuit, Sage, OSP, UiPath, Kore.ai, AppZen, YayPay, IBM, Google, EY, Deloitte, PwC, KPMG, SMACC, OneUp, Vic.ai, Hyper Anna, Botkeeper, MindBridge Analytics, Artificial Intelligence for Accountin
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Artificial Intelligence for Accounting Market Report Segments:
The global Artificial Intelligence for Accounting market is segmented on the basis of:
Types
Hardware, Software, Service, Artificial Intelligence for Accountin
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automated Bookkeeping, Invoice Classification and Approvals, Fraud and Risk Management, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Microsoft
- AWS
- Xero
- Intuit
- Sage
- OSP
- UiPath
- Kore.ai
- AppZen
- YayPay
- IBM
- Google
- EY
- Deloitte
- PwC
- KPMG
- SMACC
- OneUp
- Vic.ai
- Hyper Anna
- Botkeeper
- MindBridge Analytics
- Artificial Intelligence for Accountin
Highlights of The Artificial Intelligence for Accounting Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware
- Software
- Service
- Artificial Intelligence for Accountin
- By Application:
- Automated Bookkeeping
- Invoice Classification and Approvals
- Fraud and Risk Management
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Artificial Intelligence for Accounting Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Artificial intelligence (AI) is a field of computer science that deals with the creation of intelligent agents, which are systems that can reason and learn. AI is used in accounting to help automate tasks such as financial analysis, decision making, and auditing.
Some of the major players in the artificial intelligence for accounting market are Microsoft, AWS, Xero, Intuit, Sage, OSP, UiPath, Kore.ai, AppZen, YayPay, IBM, Google, EY, Deloitte, PwC, KPMG, SMACC, OneUp, Vic.ai, Hyper Anna, Botkeeper, MindBridge Analytics, Artificial Intelligence for Accountin.
The artificial intelligence for accounting market is expected to grow at a compound annual growth rate of 16.6%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Artificial Intelligence for Accounting Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Artificial Intelligence for Accounting Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Artificial Intelligence for Accounting Market - Supply Chain
4.5. Global Artificial Intelligence for Accounting Market Forecast
4.5.1. Artificial Intelligence for Accounting Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Artificial Intelligence for Accounting Market Size (000 Units) and Y-o-Y Growth
4.5.3. Artificial Intelligence for Accounting Market Absolute $ Opportunity
5. Global Artificial Intelligence for Accounting Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Artificial Intelligence for Accounting Market Size and Volume Forecast by Type
5.3.1. Hardware
5.3.2. Software
5.3.3. Service
5.3.4. Artificial Intelligence for Accountin
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Artificial Intelligence for Accounting Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Artificial Intelligence for Accounting Market Size and Volume Forecast by Application
6.3.1. Automated Bookkeeping
6.3.2. Invoice Classification and Approvals
6.3.3. Fraud and Risk Management
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Artificial Intelligence for Accounting Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Artificial Intelligence for Accounting Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Artificial Intelligence for Accounting Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Artificial Intelligence for Accounting Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Artificial Intelligence for Accounting Demand Share Forecast, 2019-2026
9. North America Artificial Intelligence for Accounting Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Artificial Intelligence for Accounting Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Artificial Intelligence for Accounting Market Size and Volume Forecast by Application
9.4.1. Automated Bookkeeping
9.4.2. Invoice Classification and Approvals
9.4.3. Fraud and Risk Management
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Artificial Intelligence for Accounting Market Size and Volume Forecast by Type
9.7.1. Hardware
9.7.2. Software
9.7.3. Service
9.7.4. Artificial Intelligence for Accountin
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Artificial Intelligence for Accounting Demand Share Forecast, 2019-2026
10. Latin America Artificial Intelligence for Accounting Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Artificial Intelligence for Accounting Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Artificial Intelligence for Accounting Market Size and Volume Forecast by Application
10.4.1. Automated Bookkeeping
10.4.2. Invoice Classification and Approvals
10.4.3. Fraud and Risk Management
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Artificial Intelligence for Accounting Market Size and Volume Forecast by Type
10.7.1. Hardware
10.7.2. Software
10.7.3. Service
10.7.4. Artificial Intelligence for Accountin
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Artificial Intelligence for Accounting Demand Share Forecast, 2019-2026
11. Europe Artificial Intelligence for Accounting Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Artificial Intelligence for Accounting Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Artificial Intelligence for Accounting Market Size and Volume Forecast by Application
11.4.1. Automated Bookkeeping
11.4.2. Invoice Classification and Approvals
11.4.3. Fraud and Risk Management
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Artificial Intelligence for Accounting Market Size and Volume Forecast by Type
11.7.1. Hardware
11.7.2. Software
11.7.3. Service
11.7.4. Artificial Intelligence for Accountin
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Artificial Intelligence for Accounting Demand Share, 2019-2026
12. Asia Pacific Artificial Intelligence for Accounting Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Artificial Intelligence for Accounting Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Artificial Intelligence for Accounting Market Size and Volume Forecast by Application
12.4.1. Automated Bookkeeping
12.4.2. Invoice Classification and Approvals
12.4.3. Fraud and Risk Management
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Artificial Intelligence for Accounting Market Size and Volume Forecast by Type
12.7.1. Hardware
12.7.2. Software
12.7.3. Service
12.7.4. Artificial Intelligence for Accountin
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Artificial Intelligence for Accounting Demand Share, 2019-2026
13. Middle East & Africa Artificial Intelligence for Accounting Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Artificial Intelligence for Accounting Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Artificial Intelligence for Accounting Market Size and Volume Forecast by Application
13.4.1. Automated Bookkeeping
13.4.2. Invoice Classification and Approvals
13.4.3. Fraud and Risk Management
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Artificial Intelligence for Accounting Market Size and Volume Forecast by Type
13.7.1. Hardware
13.7.2. Software
13.7.3. Service
13.7.4. Artificial Intelligence for Accountin
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Artificial Intelligence for Accounting Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Artificial Intelligence for Accounting Market: Market Share Analysis
14.2. Artificial Intelligence for Accounting Distributors and Customers
14.3. Artificial Intelligence for Accounting Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Microsoft
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. AWS
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Xero
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Intuit
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Sage
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. OSP
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. UiPath
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Kore.ai
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. AppZen
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. YayPay
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. IBM
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Google
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. EY
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Deloitte
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. PwC
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. KPMG
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. SMACC
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. OneUp
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Vic.ai
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Hyper Anna
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
