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Global AI in Accounting Market (2021-2026) by Component, Technology, Application and Geography - Competitive Analysis, Impact of COVID-19, Ansoff Analysis

  • ID: 5359451
  • Report
  • March 2021
  • Region: Global
  • 179 pages
  • Infogence Global Research
UP TO OFF
until Jul 31st 2021
Global AI in Accounting Market is estimated to be worth USD 1.8 Billion in 2021 and is expected to reach USD 6.84 Billion by 2026, growing at a CAGR of 30.6%

FEATURED COMPANIES

  • Accenture plc
  • Bill.Com
  • Google LLC
  • Intuit Inc.
  • MindBridge Analytics Inc.
  • PricewaterhouseCoopers
  • MORE
The Global Artificial Intelligence in Accounting Market is estimated to be worth USD 1.8 Billion in 2021 and is expected to reach USD 6.84 Billion by 2026, growing at a CAGR of 30.6%.



Market Dynamics


The market growth can be attributed to the growing demand for the computerized accounting process for quick and precise results. In addition, the increasing need to analyze big data, complex calculations, optimize workflow in the finance sector have fuelled the market growth. The augmented demand for AI in accounting in the financial industry is principally due to the requirement of real-time data-based analysis and decision-making. Companies use AI in accounting to record, analyse cash flow to avoid financial fraud and bankruptcy and plan any business strategies. However, the high risk of system hacking and a dearth of skilled professionals hamper the market growth.

Increasing demand for AI in accounting in untapped regions and innovations are anticipated to increase the market growth.

Market Segmentation


The Global Artificial Intelligence in Accounting Market is segmented based on Component, Technology, Application, and Geography.
  • By Component, the market is classified as solution and service. Amongst the two, the solution segment is estimated to hold the highest market share during the forecast period.
  • By Technology, the market is machine learning and deep learning and natural language processing. Amongst the two, the machine learning and deep learning segment are estimated to hold the highest market share during the forecast period.
  • By Application, the market is classified as automated bookkeeping, invoice classification and approvals, fraud and risk management, reporting, and others. The automated bookkeeping segment is estimated to hold the highest market share during the forecast period.
  • By Geography, North America is projected to lead the market.

Recent Developments

  1. KPMG, PwC, EY invested $9B for AI, Data Tech. - 2nd January 2020.
  2. Demandbase has acquired both InsideView, a sales and marketing intelligence platform, and DemandMatrix, a technographic data and intelligence provider. - 10th May 2021.

Company Profiles


Some of the companies covered in this report are Microsoft Corporation, Xero, Sage, OSP, Google LLC, Deloitte Touche Tohmatsu Limited, Ernst & Young Global Limited, etc.

Competitive Quadrant


The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?


The report offers a comprehensive evaluation of the Global Artificial Intelligence in Accounting Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.

The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel within the industry.

The report includes in-depth market analysis using Porter’s 5 force model and the Ansoff Matrix. The impact of COVID-19 on the market is also featured in the report.

The report also includes the regulatory scenario of the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules & regulations imposed on this sector across various geographies.

The report also contains the competitive analysis using Positioning Quadrants, the analyst's proprietary competitive positioning tool.

Report Highlights

  • A complete analysis of the market, including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Accenture plc
  • Bill.Com
  • Google LLC
  • Intuit Inc.
  • MindBridge Analytics Inc.
  • PricewaterhouseCoopers
  • MORE
1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Shareholders

2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Proprietary Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study

3 Executive Summary
3.1 Introduction
3.2 Market Size and Segmentation
3.3 Market Outlook

4 Market Influencers
4.1 Drivers
4.1.1 Increasing Demand AI in Accounting
4.1.2 Real Time Data Analysis and Decision Making
4.2 Restraints
4.2.1 Lack of Skill Professional
4.2.2 High Investment Cost
4.3 Opportunities
4.3.1 New Technological and Mathematical Innovations
4.3.2 Urbanization and Smart Cities in Developing Countries
4.4 Challenges
4.4.1 Lack of Skilled Professional
4.4.2 Threat of Privacy and Data Breach
4.5 Trends

5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter’s Five Forces Analysis
5.3 Impact of COVID-19
5.4 Ansoff Matrix Analysis

6 Global Artificial Intelligence in Accounting Market, By Component
6.1 Introduction
6.2 Solution
6.3 Services

7 Global Artificial Intelligence in Accounting Market, By Technology
7.1 Introduction
7.2 Machine Learning and Deep Learning
7.3 Natural Language Processing

8 Global Artificial Intelligence in Accounting Market, By Application
8.1 Introduction
8.2 Automated Bookkeeping
8.3 Invoice Classification and Approvals
8.4 Fraud and Risk Management
8.5 Reporting
8.6 Others

9 Global Artificial Intelligence in Accounting Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 South America
9.3.1 Brazil
9.3.2 Argentina
9.3.3 Chile
9.3.4 Colombia
9.4 Europe
9.4.1 UK
9.4.2 France
9.4.3 Germany
9.4.4 Italy
9.4.5 Spain
9.4.6 Netherlands
9.4.7 Sweden
9.4.8 Russia
9.4.9 Rest of Europe
9.5 Asia-Pacific
9.5.1 China
9.5.2 Japan
9.5.3 India
9.5.4 Indonesia
9.5.5 Malaysia
9.5.6 South Korea
9.5.7 Australia
9.5.8 Sri Lanka
9.5.9 Thailand
9.5.10 Rest of APAC
9.6 Middle-East and Africa
9.6.1 Qatar
9.6.2 Saudi Arabia
9.6.3 South Africa
9.6.4 United Arab Emirates

10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Strategic Initiatives
10.3.1 M&A and Investments
10.3.2 Partnerships and Collaborations
10.3.3 Product Developments and Improvements

11 Company Profiles
11.1 Accenture plc
11.2 AWS
11.3 Bill.Com
11.4 Botkeeper, Inc.
11.5 Deloitte Touche Tohmatsu Limited
11.6 Ernst & Young Global Limited
11.7 Google LLC
11.8 Hyper Anna Pty. Ltd.
11.9 International Business Machines Corporation
11.10 Intuit Inc.
11.11 KPMG International Limited
11.12 Microsoft Corporation
11.13 MindBridge Analytics Inc.
11.14 OSP
11.15 PricewaterhouseCoopers
11.16 Sage
11.17 SMACC GmbH
11.18 UiPath
11.19 Xero
11.20 Yaypay Inc.

12 Appendix
12.1 Questionnaire
Note: Product cover images may vary from those shown
  • Accenture plc
  • AWS
  • Bill.Com
  • Botkeepe. Inc.
  • Deloitte Touche Tohmatsu Limited
  • Ernst & Young Global Limited
  • Google LLC
  • Hyper Anna Pty. Ltd.
  • International Business Machines Corporation
  • Intuit Inc.
  • KPMG International Limited
  • Microsoft Corporation
  • MindBridge Analytics Inc.
  • OSP
  • PricewaterhouseCoopers
  • Sage
  • SMACC GmbH
  • UiPath
  • Xero
  • Yaypay Inc.
Note: Product cover images may vary from those shown

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