Artificial Intelligence in Accounting - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Artificial Intelligence in Accounting Market is accounted for $454.92 million in 2018 and is expected to reach $14,054.09 million by 2027 growing at a CAGR of 46.4% during the forecast period. Rising requirement of automation in mundane tasks and requirement for advanced decision making are the major factors driving the market growth. However, lack of skill sets is restraining the market growth.
Artificial Intelligence in Accounting is used to pull accurate outcome from a large amount of data without human intervention. It is much more beneficial for data-driven industries, such as accounting. It is also used for fraud detection.
Based on technology, the Natural Language Processing (NLP) segment is likely to have a huge demand due to its capability to recognize human language, fast processing, user-friendliness and its applications in the areas of invoice classification and contract interpretation etc. By geography, North America is going to have a lucrative growth during the forecast period due to maximum developments in the AI and focus on the players in the region towards new product developments, acquisitions etc.
Some of the key players profiled in the Artificial Intelligence in Accounting Market include Deloitte, EY, Google, IBM, Intuit, KPMG, Microsoft, MindBridge Analytics and Xero.
Deployment Modes Covered:
Enterprise Sizes Covered:
• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises
• Natural Language Processing (NLP)
• Machine Learning (ML) and Deep Learning
• Invoice Classification and Approvals
• Fraud and Risk Management
• Automated Bookkeeping
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
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