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Global Artificial Intelligence in AccountingMarket Size study, byComponent (Solutions,Services) by Deployment mode (Cloud, On-premises) by Technology (Machine Learning and Deep Learning, NLP) by Enterprise size (Large Enterprises, Small and Medium-sized Enterprises) by Application (Automated Bookkeeping, Invoice Classification and Approvals, Fraud and Risk Management, Reporting, Others )and Regional Forecasts 2021-2027

  • BIZ4509192
  • 200 Pages
  • June 2021
  • ICT & Media
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Global Artificial Intelligence in AccountingMarket is valued approximately USD 0.988 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 48.4% over the forecast period 2021-2027. The ability of artificial intelligence (AI) to adapt and learn has propelled it to the forefront of technology today. AI is much more effective for data-driven companies such as accounting and finance because it not only acts without needing human intervention but also extracts accurate results from a large amount of data. While AI is becoming increasingly popular in digital marketing and finance, the accounting industry is also reporting widespread use of the technology in their applications. Companies can do cash flow forecasting, anticipate insolvency, and detect frauds using AI, allowing accountants to assist clients in responding to financial difficulties before they become acute and adjusting spending appropriately. It also enables accountants to expand their predictive consulting beyond typical financial planning to include other crucial company aspects. According to research, 85 percent of people worldwide believe that artificial intelligence will improve their competitive advantage, and 81 percent of accountants believe that leveraging AI will still save them up to 10 working hours per week by assisting them in automating the time-consuming tasks. Moreover, an AI-enabled system assists accountants in auditing and compliance by constantly monitoring documents for compliance with regulations and practices and flagging audits with challenges. With fraud costing businesses billions of dollars each year, machine learning algorithms swiftly sift through massive amounts of data to prevent security frauds that humans would otherwise miss. For example, the IL&FS fraud case, which cost INR 91,000 crore, was caused by serious audit inconsistencies in IL&FS accounts. However, the majority of businesses have yet to hire new employees, owing to concerns about the business case, a lack of skills, and a lack of ROI, which has hampered significant growth during the forecast period. Also, businesses are incorporating and implementing AI into their streamlined operational processes, with accounting at the top of their list because it provides increased productivity, accuracy, and cost savings, while also steering market growth.

Asia Pacific (APAC) is anticipated to grow at the fastest rate during the projected timeframe, owing to increased investment and funding, an increase in the number of startup companies, and governments' increased focus on data regulations and compliance requirements.China, Japan, Australia, and India are planning to implement AI solutions in business transactions to free up human resources from mundane chores and focus on ensuring data integrity.International companies in APAC would benefit from the region's versatile economic conditions, public policy aimed at industrialization and globalisation, as well as the region's growing digitalization, which is expected to have a positive influence on firm group. North America, on the other hand, is expected to have the largest market over the forecast period.

Major market player included in this report are:

Microsoft

AWS

Xero

Intuit

Sage

OSP

UiPath

Kore.ai

AppZen

Deloitte

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

ByComponent:

Solutions

Services

ByDeployment mode:

Cloud

On-premises

By Technology:

Machine learning and Deep learning

NLP

By Enterprise size:

Large Enterprises

Small and Medium-sized Enterprises

By Application:

Automated Bookkeeping

Invoice Classification and Approvals

Fraud and Risk Management

Reporting

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019

Base year – 2020

Forecast period – 2021 to 2027

Target Audience of the Global Artificial Intelligence in AccountingMarket in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

Chapter 1. Executive Summary

1.1. Market Snapshot

1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)

1.2.1. Artificial Intelligence in Accounting Market, by Region, 2019-2027 (USD Billion)

1.2.2. Artificial Intelligence in Accounting Market, by Component,2019-2027 (USD Billion)

1.2.3. Artificial Intelligence in Accounting Market, by Deployment mode,2019-2027 (USD Billion)

1.2.4. Artificial Intelligence in Accounting Market, by Technology,2019-2027 (USD Billion)

1.2.5. Artificial Intelligence in Accounting Market, by Enterprise size,2019-2027 (USD Billion)

1.2.6. Artificial Intelligence in Accounting Market, by Application ,2019-2027 (USD Billion)

1.3. Key Trends

1.4. Estimation Methodology

1.5. Research Assumption

Chapter 2. Global Artificial Intelligence in Accounting Market Definition and Scope

2.1. Objective of the Study

2.2. Market Definition & Scope

2.2.1. Scope of the Study

2.2.2. Industry Evolution

2.3. Years Considered for the Study

2.4. Currency Conversion Rates

Chapter 3. Global Artificial Intelligence in Accounting Market Dynamics

3.1. Artificial Intelligence in Accounting Market Impact Analysis (2019-2027)

3.1.1. Market Drivers

3.1.1.1. Widespread use in accounting

3.1.1.2. Ability to prevent security fraud

3.1.2. Market Challenges

3.1.2.1. Lack of skilled professionals

3.1.3. Market Opportunities

3.1.3.1. Accuracy and cost saving

Chapter 4. Global Artificial Intelligence in Accounting MarketIndustry Analysis

4.1. Porter’s 5 Force Model

4.1.1. Bargaining Power of Suppliers

4.1.2. Bargaining Power of Buyers

4.1.3. Threat of New Entrants

4.1.4. Threat of Substitutes

4.1.5. Competitive Rivalry

4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)

4.2. PEST Analysis

4.2.1. Political

4.2.2. Economical

4.2.3. Social

4.2.4. Technological

4.3. Investment Adoption Model

4.4. Analyst Recommendation & Conclusion

Chapter 5. Global Artificial Intelligence in Accounting Market, by Component

5.1. Market Snapshot

5.2. Global Artificial Intelligence in Accounting Market by Component, Performance - Potential Analysis

5.3. Global Artificial Intelligence in Accounting Market Estimates & Forecasts by Component2018-2027 (USD Billion)

5.4. Artificial Intelligence in Accounting Market, Sub Segment Analysis

5.4.1. Solutions

5.4.2. Services

Chapter 6. Global Artificial Intelligence in Accounting Market, byDeployment mode

6.1. Market Snapshot

6.2. Global Artificial Intelligence in Accounting Market by Deployment mode, Performance - Potential Analysis

6.3. Global Artificial Intelligence in Accounting Market Estimates & Forecasts by Deployment mode2018-2027 (USD Billion)

6.4. Artificial Intelligence in Accounting Market, Sub Segment Analysis

6.4.1. Cloud

6.4.2. On-premises

Chapter 7. Global Artificial Intelligence in Accounting Market, byDeployment mode

7.1. Market Snapshot

7.2. Global Artificial Intelligence in Accounting Market by Technology , Performance - Potential Analysis

7.3. Global Artificial Intelligence in Accounting Market Estimates & Forecasts by Technology 2018-2027 (USD Billion)

7.4. Artificial Intelligence in Accounting Market, Sub Segment Analysis

7.4.1. Machine Learning and Deep Learning

7.4.2. NLP

Chapter 8. Global Artificial Intelligence in Accounting Market, by Enterprise size

8.1. Market Snapshot

8.2. Global Artificial Intelligence in Accounting Market by Enterprise size , Performance - Potential Analysis

8.3. Global Artificial Intelligence in Accounting Market Estimates & Forecasts by Enterprise size 2018-2027 (USD Billion)

8.4. Artificial Intelligence in Accounting Market, Sub Segment Analysis

8.4.1. Large Enterprise

8.4.2. Small and Medium-sized Enterprises

Chapter 9. Global Artificial Intelligence in Accounting Market, by Application

9.1. Market Snapshot

9.2. Global Artificial Intelligence in Accounting Market by Application , Performance - Potential Analysis

9.3. Global Artificial Intelligence in Accounting Market Estimates & Forecasts by Application 2018-2027 (USD Billion)

9.4. Artificial Intelligence in Accounting Market, Sub Segment Analysis

9.4.1. Automated Bookkeeping

9.4.2. Invoice Classification and Approvals

9.4.3. Fraud and Risk Management

9.4.4. Reporting

9.4.5. Others

Chapter 10. Global Artificial Intelligence in Accounting Market, Regional Analysis

10.1. Artificial Intelligence in Accounting Market, Regional Market Snapshot

10.2. North America Artificial Intelligence in Accounting Market

10.2.1. U.S.Artificial Intelligence in Accounting Market

10.2.1.1. Componentbreakdown estimates & forecasts, 2018-2027

10.2.1.2. Deployment modebreakdown estimates & forecasts, 2018-2027

10.2.1.3. Technology breakdown estimates & forecasts, 2018-2027

10.2.1.4. Enterprise size breakdown estimates & forecasts, 2018-2027

10.2.1.5. Application breakdown estimates & forecasts, 2018-2027

10.2.2. CanadaArtificial Intelligence in Accounting Market

10.3. Europe Artificial Intelligence in Accounting Market Snapshot

10.3.1. U.K. Artificial Intelligence in Accounting Market

10.3.2. Germany Artificial Intelligence in Accounting Market

10.3.3. France Artificial Intelligence in Accounting Market

10.3.4. Spain Artificial Intelligence in Accounting Market

10.3.5. Italy Artificial Intelligence in Accounting Market

10.3.6. Rest of EuropeArtificial Intelligence in Accounting Market

10.4. Asia-PacificArtificial Intelligence in Accounting Market Snapshot

10.4.1. China Artificial Intelligence in Accounting Market

10.4.2. India Artificial Intelligence in Accounting Market

10.4.3. JapanArtificial Intelligence in Accounting Market

10.4.4. Australia Artificial Intelligence in Accounting Market

10.4.5. South Korea Artificial Intelligence in Accounting Market

10.4.6. Rest of Asia PacificArtificial Intelligence in Accounting Market

10.5. Latin America Artificial Intelligence in Accounting Market Snapshot

10.5.1. Brazil Artificial Intelligence in Accounting Market

10.5.2. Mexico Artificial Intelligence in Accounting Market

10.6. Rest of The World Artificial Intelligence in Accounting Market

Chapter 11. Competitive Intelligence

11.1. Top Market Strategies

11.2. Company Profiles

11.2.1. Microsoft

11.2.1.1. Key Information

11.2.1.2. Overview

11.2.1.3. Financial (Subject to Data Availability)

11.2.1.4. Product Summary

11.2.1.5. Recent Developments

11.2.2. AWS

11.2.3. Xero

11.2.4. Intuit

11.2.5. Sage

11.2.6. OSP

11.2.7. UiPath

11.2.8. Kore.ai

11.2.9. AppZen

11.2.10. Deloitte

Chapter 12. Research Process

12.1. Research Process

12.1.1. Data Mining

12.1.2. Analysis

12.1.3. Market Estimation

12.1.4. Validation

12.1.5. Publishing

12.2. Research Attributes

12.3. Research Assumption

List of Tables

TABLE 1. Global Artificial Intelligence in Accounting market, report scope

TABLE 2. Global Artificial Intelligence in Accounting market estimates & forecasts by Region 2018-2027 (USDBillion)

TABLE 3. Global Artificial Intelligence in Accounting market estimates & forecasts byComponent2018-2027 (USDBillion)

TABLE 4. Global Artificial Intelligence in Accounting market estimates & forecasts byDeployment mode2018-2027 (USDBillion)

TABLE 5. Global Artificial Intelligence in Accounting market estimates & forecasts by Technology 2018-2027 (USDBillion)

TABLE 6. Global Artificial Intelligence in Accounting market estimates & forecasts by Enterprise size 2018-2027 (USDBillion)

TABLE 7. Global Artificial Intelligence in Accounting market estimates & forecasts by Application 2018-2027 (USDBillion)

TABLE 8. Global Artificial Intelligence in Accounting market by segment, estimates & forecasts, 2018-2027 (USDBillion)

TABLE 9. Global Artificial Intelligence in Accounting market by region, estimates & forecasts, 2018-2027 (USDBillion)

TABLE 10. Global Artificial Intelligence in Accounting market by segment, estimates & forecasts, 2018-2027 (USDBillion)

TABLE 11. Global Artificial Intelligence in Accounting market by region, estimates & forecasts, 2018-2027 (USDBillion)

TABLE 12. Global Artificial Intelligence in Accounting market by segment, estimates & forecasts, 2018-2027 (USDBillion)

TABLE 13. Global Artificial Intelligence in Accounting market by region, estimates & forecasts, 2018-2027 (USDBillion)

TABLE 14. Global Artificial Intelligence in Accounting market by segment, estimates & forecasts, 2018-2027 (USDBillion)

TABLE 15. Global Artificial Intelligence in Accounting market by region, estimates & forecasts, 2018-2027 (USDBillion)

TABLE 16. Global Artificial Intelligence in Accounting market by segment, estimates & forecasts, 2018-2027 (USDBillion)

TABLE 17. Global Artificial Intelligence in Accounting market by region, estimates & forecasts, 2018-2027 (USDBillion)

TABLE 18. U.S. Artificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 19. U.S. Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 20. U.S. Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 21. Canada Artificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 22. Canada Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 23. Canada Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 24. UKArtificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 25. UKArtificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 26. UKArtificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 27. Germany Artificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 28. Germany Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 29. Germany Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 30. RoEArtificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 31. RoEArtificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 32. RoEArtificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 33. China Artificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 34. China Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 35. China Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 36. India Artificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 37. India Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 38. India Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 39. Japan Artificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 40. Japan Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 41. Japan Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 42. RoAPACArtificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 43. RoAPACArtificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 44. RoAPACArtificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 45. Brazil Artificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 46. Brazil Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 47. Brazil Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 48. Mexico Artificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 49. Mexico Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 50. Mexico Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 51. RoLAArtificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 52. RoLAArtificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 53. RoLAArtificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 54. Row Artificial Intelligence in Accounting market estimates & forecasts, 2018-2027 (USDBillion)

TABLE 55. Row Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 56. Row Artificial Intelligence in Accounting market estimates & forecasts by segment 2018-2027 (USDBillion)

TABLE 57. List of secondary sources, used in the study of global Artificial Intelligence in Accounting market

TABLE 58. List of primary sources, used in the study of global Artificial Intelligence in Accounting market

TABLE 59. Years considered for the study

TABLE 60. Exchange rates considered

 
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