According to a new market research report, "Artificial Intelligence in Accounting Market by Component, Deployment Mode, Technology, Enterprise Size, Application (Automated Bookkeeping, Fraud and Risk Management, and Invoice Classification and Approvals), and Region - Global Forecast to 2024", published by MarketsandMarkets, the global the Artificial Intelligence (AI) in Accounting Market is expected to grow from USD 666 million in 2019 to USD 4,791 million by 2024, at a Compound Annual Growth Rate (CAGR) of 48.4% during the forecast period. The major factors driving the growth of AI in accounting market include the growing need to automate accounting processes and the need for enhanced data-based advisory and decision making. The AI in accounting market has been segmented based on components into 2 categories: solutions and services. The solutions segment is estimated to hold a larger market size, which is driven by the ease of integrating pre-built solutions with existing accounting infrastructure. The growing number of innovations and partnerships in the accounting sector and the focus on automating repetitive accounting processes to enhance efficiency, are also the factors contributing to the adoption.

The latest study released on the Global Artificial Intelligence in Accounting Market by AMA Research evaluates market size, trend, and forecast to 2026. The Artificial Intelligence in Accounting market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors. Definition and Brief Information about Artificial Intelligence in Accounting: Rising application of AI in artificial intelligence will help to boost global AI in the accounting market. Artificial intelligence is being used by many accounting companies where it analyzes a large volume of data at high speed which would not be easy for humans. For example, Robo-advisor Wealthfront tracks account activity using AI capabilities to analyze and understand how account holders spend, invest, and make financial decisions, so they can customize the advice they give their customers.

Analysis on Strategies of Leading Players: Market players can use this analysis to gain competitive advantage over their competitors in the Artificial Intelligence for Accounting market. Study on Key Market Trends: This section of the report offers a deeper analysis of the latest and future trends of the Artificial Intelligence for Accounting market. Market Forecasts: Buyers of the report will have access to accurate and validated estimates of the total market size in terms of value and volume. The report also provides consumption, production, sales, and other forecasts for the Artificial Intelligence for Accounting market. Regional Growth Analysis: All major regions and countries have been covered in the report.

On the basis of Technology, the Artificial Intelligence in Accounting Market is studied across Machine Learning and Deep Learning and Natural …

The "Artificial Intelligence in Accounting Market by Component, Deployment Mode, Technology, Enterprise Size, Application (Automated Bookkeeping, Fraud and Risk Management, and Invoice Classification and Approvals), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering. The Artificial Intelligence (AI) in Accounting Market Size is Expected to Grow from USD 666 Million in 2019 to USD 4,791 Million by 2024, at a CAGR of 48.4% The AI in accounting is driven by various factors, such as the growing need to automate accounting processes and support enhanced data-based advisory and decision making. However, growing concerns over high criticality of data volume and quality, and investment related issues with the integration of AI in accounting can hinder the growth of the market. The AI in the accounting market based on component is segmented into solutions and services. The services segment is expected to grow at a rapid pace during the forecast period.