Global Artificial Intelligence in Accounting
Market Report
2024
Artificial Intelligence in Accounting market size is USD 1.52 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 33.45% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Artificial Intelligence in Accounting market size is USD 1.52 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 33.45% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Artificial Intelligence in Accounting Market Sales Revenue 2024 | $ 1.52 Billion |
Global Artificial Intelligence in Accounting Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 33.45% |
Market Split by Component |
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Market Split by Deployment |
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Market Split by Technology |
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Market Split by Enterprise |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Artificial Intelligence in Accounting Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The artificial intelligence in accounting market has witnessed rapid growth, revolutionizing traditional accounting processes. AI technologies streamline tasks such as data entry, reconciliation, and financial analysis, enhancing accuracy and efficiency. With AI-powered tools becoming integral to modern accounting practices, businesses are poised to leverage these advancements for improved decision-making and operational excellence. One of the key drivers propelling the growth of Artificial Intelligence in the Accounting market is the increasing demand for automation and efficiency in financial processes. Businesses across industries are embracing AI technologies to streamline accounting tasks, reduce manual errors, and enhance productivity. The scalability and adaptability of AI solutions enable organizations to handle growing volumes of financial data while maintaining accuracy and compliance.
Increasing Demand for Automation and Efficiency to Increase the Demand Globally - One key driver in the Artificial Intelligence in Accounting market is the continuous advancements in projection technology. As technology evolves, manufacturers are able to develop Artificial Intelligence in Accounting with higher resolution, brighter displays, and enhanced connectivity options. These advancements make Artificial Intelligence in Accounting more versatile and capable of meeting the evolving needs of consumers, whether for business presentations, educational purposes, or entertainment on the go. Natural Language Processing (NLP)
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In July 2023, KPMG and Microsoft unveiled an extensive expansion of their global partnership, poised to revolutionize professional services across various vital domains. These include modernizing the workforce, ensuring secure development practices, and leveraging Artificial Intelligence (AI) solutions to address the needs of clients, industries, and society at large.
Top Companies Market Share in Artificial Intelligence in Accounting Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to extensive developments in AI within accounting. The region hosts a majority of AI solution providers dedicated to innovating and deploying cutting-edge accounting solutions. These vendors actively pursue growth strategies, including product enhancements, new launches, partnerships, and acquisitions, aiming to fortify their foothold in the AI accounting market.
Asia-Pacific stands out as the fastest-growing region in the Artificial Intelligence in Accounting market for several compelling reasons. Firstly, the region is home to a vast population, including emerging economies such as China, India, and Southeast Asian countries, where there is a growing demand for compact and portable electronic devices. The increasing penetration of smartphones and tablets in the region has fuelled the need for complementary accessories like Artificial Intelligence in Accounting, which offer convenient display solutions for multimedia content.
The current report Scope analyzes Artificial Intelligence in Accounting Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Artificial Intelligence in Accounting Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Artificial Intelligence in Accounting Industry growth. Artificial Intelligence in Accounting market has been segmented with the help of its Component, Deployment Technology, and others. Artificial Intelligence in Accounting market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Artificial Intelligence in Accounting market.
Component of Artificial Intelligence in Accounting analyzed in this report are as follows:
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Artificial Intelligence in Accounting from 2019 to 2031. This will also help to analyze the demand for Artificial Intelligence in Accounting across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Deployment of Artificial Intelligence in Accounting are:
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According to Cognitive Market Research, NLP (Natural Language Processing) technology stands out as the dominating category. Natural Language Processing (NLP) is pivotal in this context, as it enables comprehension of human speech, essential for implementing voice control across systems. In accounting, NLP is utilized for tasks like invoice and contract interpretation amidst diverse languages and formats. Major AI vendors in accounting are prioritizing NLP-integrated solutions, especially with tightening regulatory and compliance requirements. This is driving significant growth in NLP technology within the AI accounting domain.
Research Analyst at Cognitive Market Research
I am a research analyst working in various domains including the Consumer Goods domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
The Global Artificial Intelligence in Accounting Market is witnessing significant growth in the near future.
In 2023, the Solutions (Software tools Platforms) segment accounted for noticeable share of global Artificial Intelligence in Accounting Market and is projected to experience significant growth in the near future.
The Cloud segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Microsoft (US) , Xero (New Zealand) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Component | Solutions (Software tools Platforms), Services (Professional Services Managed Services) |
Deployment | Cloud, On-Premise |
Technology | Machine Learning, Deep Learning, NLP (Natural Language Processing) |
Enterprise | Large Enterprises, Small and Medium Enterprises (SMEs) |
Application | Automated Bookkeeping, Invoice Classification and Approvals, Fraud and Risk Management, Reporting, Others |
List of Competitors | Microsoft (US), AWS (US), Xero (New Zealand), Intuit (US), Sage (England), OSP (US), YayPay (US), IBM (US), Google (US), EY (UK), Deloitte (US), PwC (UK), KPMG (Netherlands) |
This chapter will help you gain GLOBAL Market Analysis of Artificial Intelligence in Accounting. Further deep in this chapter, you will be able to review Global Artificial Intelligence in Accounting Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Component Analysis 2019 -2031, will provide market size split by Component. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Component Analysis 2019 -2031
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Chapter 11 Market Split by Deployment Analysis 2019 -2031
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Chapter 12 Market Split by Technology Analysis 2019 -2031
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Chapter 13 Market Split by Enterprise Analysis 2019 -2031
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Chapter 14 Market Split by Application Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Artificial Intelligence in Accounting market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Solutions (Software tools Platforms) have a significant impact on Artificial Intelligence in Accounting market? |
What are the key factors affecting the Solutions (Software tools Platforms) and Services (Professional Services Managed Services) of Artificial Intelligence in Accounting Market? |
What is the CAGR/Growth Rate of Cloud during the forecast period? |
By type, which segment accounted for largest share of the global Artificial Intelligence in Accounting Market? |
Which region is expected to dominate the global Artificial Intelligence in Accounting Market within the forecast period? |
Segmentation Level Customization |
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Company Level |
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Additional Data Analysis |
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Additional Quantitative Data |
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