AI in Accounting Market – Size, Trends & Industry Analysis

The Artificial Intelligence In Accounting Global Market Report 2023, provides comprehensive information on the artificial intelligence in accounting market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.

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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%.

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Product innovation is the key trend gaining popularity in the artificial intelligence in accounting market going forward. Major companies operating in the artificial intelligence in accounting market are focusing on developing new products to strengthen their position in the market. For instance, in May 2023, Ramp Business Corporation., a US-based provider of finance automation, launched Ramp Intelligence, a suite of tools for financial services driven by AI. The unique feature of this product is the integration of GPT (generative pre-trained transformer)-4-powered solutions, including an accounting copilot, vendor price intelligence, automated accounting processes, and contract extraction and negotiation. Through these solutions, customers get automated visibility into business performance, month-end closure procedures that are considerably faster and more precise, democratized software prices, and expenses that code themselves.

The 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)

North America was the largest region in the artificial intelligence in accounting market in 2022.

The table of contents in TBRC’s artificial intelligence in accounting market report includes:

1. Executive Summary
2. Artificial Intelligence In Accounting Market Characteristics
3. Artificial Intelligence In Accounting Market Trends And Strategies
4. Artificial Intelligence In Accounting Market – Macro Economic Scenario
5. Global Artificial Intelligence In Accounting Market Size and Growth

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32. Global Artificial Intelligence In Accounting Market Competitive Benchmarking
33. Global Artificial Intelligence In Accounting Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence In Accounting Market
35. Artificial Intelligence In Accounting Market Future Outlook and Potential Analysis
36. Appendix

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