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Artificial Intelligence in Accounting Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

出版商 Mordor Intelligence Pvt Ltd 商品編碼 989472
出版日期 內容資訊 英文 120 Pages
商品交期: 2-3個工作天內
會計業務的人工智能市場-成長,趨勢,COVID-19的影響,及預測(2021-2026) Artificial Intelligence in Accounting Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
出版日期: 2021年01月01日內容資訊: 英文 120 Pages




第1章 簡介

第2章 調查手法

第3章 摘要整理

第4章 市場動態

  • 市場概要
  • 市場推動因素
  • 市場阻礙因素
  • 價值鏈分析
  • 波特五力分析
    • 新加入廠商業者的威脅
    • 買方議價能力/消費者談判力
    • 供給企業談判力
    • 替代產品的威脅
    • 競爭企業間的敵對關係
  • COVID-19對產業的影響評估

第5章 市場區隔

  • 各部署
    • 精確
    • 雲端
  • 各零件
    • 解決
    • 服務
  • 各技術
    • 自然語言處理(NLP)
    • 機器學習和Deep學習
  • 組織的各規模
    • 中小企業(SME)
    • 大企業
  • 各用途
    • 詐騙和風險管理
    • 付款通知單的分類與核准
    • 報告
    • 自動簿記
    • 其他
  • 各地區
    • 北美
    • 歐洲
    • 亞太地區
    • 南美
    • 中東和非洲

第6章 競爭情形

  • 企業簡介
    • IBM Corporation
    • Google LLC
    • Microsoft Corporation
    • Xero
    • Intuit Inc.
    • Amazon Web Services
    • Deloitte Touche Tohmatsu Limited
    • OSP Labs
    • UiPath
    • Yaypay Inc.
    • SMACC
    • PricewaterhouseCoopers (PwC)

第7章 投資分析

第8章 市場機會及趨勢


Product Code: 69756

The market for Artificial Intelligence in Accounting Market is expected to register a CAGR of 30% over the forecast period (2021 - 2026)

  • Over the years, there has been significant improvement been made in Artificial Intelligence with respect to the accounting profession that has changed its focus from paper and pencil entry to software-based entry. AI is applicable to all major aspects of accounting operations added with its ability to reduce the tedious, rigorous nature of the accounting profession is changing how financial institutions operate while delivering efficiencies.
  • As with the AI ability to analyze large quantities of data, detect anomalies in the system, optimize workflows while ensuring speed and scalability is driving financial professionals to adopt AI to assist with business decision making based on insights-driven from accounting data such as transactional data, customer demographics in real-time.
  • By Integrating AI, the companies are able to perform cash flow forecasting, predict bankruptcy, detect frauds thereby allowing the accountants to help client respond against financial challenges before they become acute and adjust the expenditure accordingly, furthermore it helps accountants to broaden their predictive consultancy beyond traditional financial planning and further incorporate other critical areas of business.
  • For instance, research conducted by MIT Boston found that 85% of people around the world believe that Artificial Intelligence will enhance their competitive advantage. also according to a survey published by FreeAgent in April 2020, highlights that 81% of accountants believe that levering AI would save up as much as 10 working hours a week by helping them automate the redundant tasks and would potentially unlock up to 68,163 pounds of additional revenue annually.
  • The study also stated that accountants around the world consider AI for dealing with accounting tasks such as accurate auto-reconciling of data in clients account (50%), dealing with HMRC ( 44%), preventing clients entering incorrect information (45%), added it 90% of larger firms employing over 300 people showed interest in using AI as compared to 76% in SMEs.
  • Furthermore, AI-enabled system also supports accountant in auditing and compliance as it constantly monitors documents against laws, rules, and flag the audits with issues. with frauds cost costing companies billions of dollars each year, machine learning algorithms quickly sift through an enormous amount of data to detect potential frauds which may otherwise be foreseen by humans, For instance, the IL&FS fraud case that cost INR 91,000 crore were the result of serious audit irregularities in IL&FS accounts.
  • Owing to these instances companies are embracing and implementing AI into their streamline business operations with accounting on top of their list as it delivers increased productivity, accuracy, and reduced cost, thereby driving the growth of the market.
  • However, majority of business still have not employed into their workforce majorly due to uncertainities around the business case, lack of Skill and ROI.

Key Market Trends

Natural Language Processing to drive the Growth of the Market

  • Natural Language processing is considered as part of the AI domain that is focused on communication between humans and computers evidently they address the inherent problems that humans communications turn ambiguous and imprecise. Its applications are often deployed to mine end-user industry documents to obtain insights.
  • As the accounting domain frequently deal with textual documents including management assessment, financial performance, domain standards, regulations, compliance, and evidence about the same among others, with NLP companies would be able to obtain insights, inference, methodologies to advance its knowledge and prevent potential risks
  • Also, it helps enterprises to automate accounting such as tasks such as data entry, processing financial reports, invoices, and receipts among others, and eliminate the time sinks thereby saving business costs.
  • For instance, Botkeeper, a bookkeeping program developed by Botkeeper Inc helps organizations across the world to automate accounting tasks, the company states that Botkeeper has automated more than 1.2 million of working hours for its 1,000 clients further on which study states that employee that 240 hours due to automation would return USD 9240 in value to the company such monetary and timely benefits is driving the growth of the market.
  • Moreover, Most of the Big 4 accounting firms along with legal firms have already deployed AI-driven NLP with robotic process automation to automate auditing tasks which otherwise turn cost the firms several weeks of work.

North America holds major market Share

  • North America is one of the major markets for AI in the accounting market, owing to its dominance in AI and machine learning technologies. Most of the major market vendors in the studied market are US-based, which also gives the region an innovative advantage.
  • Additionally, the regional governments are increasingly motivating the adoption of AI, ML, and NLP technologies, which is also developing space for the studied market vendors to expand their presence in the region
  • The Vendors in the region are strategically collaborating with each other either by partnership or acquisitions to leverage their expertise and capture the market share, For instance, In February 2020, Intuit Inc, the developer of AI-driven platforms QuickBook, Mint, Turbox based in United announced the acquisition of Credit Karma, a consumer technology platform developer with over 100 million members in Canada, US, and the UK. This acquisition has brought two technology players together to focus on a shared goal that is to capitalize on the accounting sector of the region by helping the company to solve their financial problems.
  • According to the Bureau of Lab Statistics, United States Department of Labor listed the Accountant and auditor occupation under the list most new jobs to anticipate growth rate of 10% from 2016 to 2026, at this growth rate added with preference accountants towards AI leverages the growth of the market.
  • Furthermore, With the increasing number of accounting frauds added with online transactions and multi-device accessibility offered by vendors in the region is driving the growth of the market.
  • However, with the recent outbreak of global pandemic COVID-19 and the announcement of lockdowns across the world with the US economy reporting 701,000 loss in job in month of March 2020 and few accounting firms facing recession may hinder the growth of market.

Competitive Landscape

The Artificial Intelligence in Accounting market is highly competitive and consists of several major players who are trying to gain larger shares. These major players with prominent shares in the market are focusing on expanding their customer base across foreign countries and are also providing new innovative solutions, along with deals and mergers to increase their market shares and profitability. Key players include Google Inc., Microsoft Corporation, Xero, Intuit, etc. Recent developments in the market include

  • March 2020 - Xero announced the launch Xero Tax in the UK and also the integration of Hubdoc into its Xero platform, the Hubdoc which was previously offered as standalone add on will be available as a streamlined set up within Xero. The company aims to provide real-time insights, data integrity, and end-to-end compliances to the accountants through Hubdoc and Xero Tax platforms.
  • February 2020 - Intuit Inc' Intuit Proconnect announced the collaboration with Karbon to deliver Inuit Practice Management that is aimed to accelerate the software capabilities for the tax professionals. This solution delivers a collaborative place for accounting firms and professional services to help manage their workflow and communications.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support



  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study




  • 4.1 Market Overview
  • 4.2 Market Drivers
  • 4.3 Market Restraints
  • 4.4 Value Chain Analysis
  • 4.5 Porters Five Force Analysis
    • 4.5.1 Threat of New Entrants
    • 4.5.2 Bargaining Power of Buyers/Consumers
    • 4.5.3 Bargaining Power of Suppliers
    • 4.5.4 Threat of Substitute Products
    • 4.5.5 Intensity of Competitive Rivalry
  • 4.6 Assessment of Impact of COVID-19 on the Industry


  • 5.1 Deployment
    • 5.1.1 On-Precise
    • 5.1.2 Cloud
  • 5.2 Component
    • 5.2.1 Solution
    • 5.2.2 Service
  • 5.3 Technology
    • 5.3.1 Natural Language Processing (NLP)
    • 5.3.2 Machine Learning & Deep Learning
  • 5.4 Organization Size
    • 5.4.1 Small to Medium Sized Enterprise (SMEs)
    • 5.4.2 Large Enterprise
  • 5.5 Application
    • 5.5.1 Fraud & Risk Management
    • 5.5.2 Invoice Classification & Approvals
    • 5.5.3 Reporting
    • 5.5.4 Automated Bookkeeping
    • 5.5.5 Other Applications
  • 5.6 Geography
    • 5.6.1 North America
      • United States
      • Canada
    • 5.6.2 Europe
      • Germany
      • United Kingdom
      • France
      • Rest of Europe
    • 5.6.3 Asia-Pacific
      • India
      • China
      • Japan
      • Rest of Asia-Pacific
    • 5.6.4 Latin America
      • Brazil
      • Argentina
      • Rest of Latin America
    • 5.6.5 Middle East and Africa
      • United Arab Emirates
      • Saudi Arabia
      • Rest of Middle East and Africa


  • 6.1 Company Profiles
    • 6.1.1 IBM Corporation
    • 6.1.2 Google LLC
    • 6.1.3 Microsoft Corporation
    • 6.1.4 Xero
    • 6.1.5 Intuit Inc.
    • 6.1.6 Amazon Web Services
    • 6.1.7 Deloitte Touche Tohmatsu Limited
    • 6.1.8 OSP Labs
    • 6.1.9 UiPath
    • 6.1.10 Yaypay Inc.
    • 6.1.11 SMACC
    • 6.1.12 PricewaterhouseCoopers (PwC)