BERLIN, July 20, 2022 (GLOBE NEWSWIRE) -- The Global Artificial Intelligence in Accounting Market size accounted for USD 1,511 Million in 2021 and is estimated to reach USD 53,893 Million by 2030. The rising need for faster and more accurate accounting in private and public firms is the recent artificial intelligence in accounting market trend that fuels the demand. In addition, the growing number of financial data is anticipated to expand artificial intelligence in accounting market revenue. Integrating AI into accounting can also improve accuracy while decreasing human error. This can further optimize the accounting process because reducing errors means spending less time discovering, tracking down, and correcting errors.

New Jersey, United States,- Verified Market Research presents an updated and latest study on the Artificial Intelligence For Accounting Market for 2021-2028 …

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 Compound Annual Growth Rate (CAGR) of 48.4% during the forecast period. 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 integration of AI in accounting can hinder the growth of the market. Services segment to grow at a higher CAGR during the forecast period The AI in 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. The growth of this segment can be attributed to the increasing deployment of AI in accounting software tools and solutions, which leads to increasing the demand for pre- and post-deployment services.