Top Companies in the Artificial Intelligence in Accounting Market | Major Players In-depth and Comprehensive Report by VMR
The accounting market has been witnessing a rapid evolution over the past few years. This is due to the increasing demand for automation and digitization in the field of accounting.
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Upcoming Trends in Artificial Intelligence in Accounting Market
The Global Artificial Intelligence in Accounting Market is valued at USD 1,721.9 Million in the year 2021 and is projected to reach a value of USD 16069.8 Million by the year 2028. The Global Market is expected at a Compound Annual Growth Rate (CAGR) of 45.10% over the forecast period. Technology-driven artificial intelligence provides important improvements in all areas of accounting, is able to provide accountants with powerful abilities, and automate various tasks and solutions. In addition, the rapid change in capabilities and the nature of artificial intelligence systems allow for continuous improvement.
Furthermore, the rise in advantages of an artificial intelligence in accounting platforms that makes beneficial to all stakeholders in the financial services industry including consumers, businesses, fintech, innovators, and banks. This is an important factor that fosters the growth of Artificial Intelligence in the Accounting Market. However, an increase in events of online fraud and data insecurity is expected to restrict the Artificial Intelligence in Accounting Market growth. On the contrary, a significant increase in the collaboration of financial service providers, and traditional banking with Fintech is expected to boost the growth of the market.
Some of the key players operating in Artificial Intelligence in the Accounting Market are listed below:
|
Company Name |
Revenue in USD |
|
Xero Limited |
$629 Million |
|
Intuit Inc. |
$10 Billion |
|
Sage Group |
$2 Billion |
|
SAP |
$31 Billion |
|
Epicor Software Corporation |
$836 Million |
|
Oracle Corporation |
$41 Billion |
|
Zoho Corporation |
$2 Billion |
|
|
$257 Billion |
|
Microsoft |
$184 Billion |
|
IBM |
$57 Billion |
Xero is a New Zealand domiciled public technology company, listed on the Australian Securities Exchange. Xero is a cloud-based accounting software platform for small- and medium-sized businesses. The company is listed as XRO (ASX). In 2021, the company generated revenue of USD 5.79 billion and has 4,187.
Intuit Inc. is an American business that specializes in financial software. The company is headquartered in Mountain View, California, and the CEO is Sasan Goodarzi. As of 2019, more than 95% of its revenues and earnings come from its activities within the United States
The Sage Group plc, commonly known as Sage, is a British multinational enterprise software company based in Newcastle upon Tyne, England.
SAP SE is a German multinational software corporation based in Walldorf, Baden-Württemberg that develops enterprise software to manage business operations and customer relations. The company is especially known for its enterprise resource planning software.
Epicor Software Corporation is a business software company based in Austin; Texas founded in 1972. Its products are aimed at the manufacturing, distribution, retail, and services industries. The company has 4,800 employees.
Oracle Corporation is an American multinational computer technology corporation headquartered in Austin, Texas. In 2020, Oracle was the second-largest software company in the world by revenue and market capitalization. The company is listed as ORCL (NYSE). In 2021, the company generated revenue of USD 40.47 billion and has 1,32,000 employees working across the world.
Zoho Corporation is an Indian multinational technology company that makes web-based business tools. It is best known for the online office suite offering Zoho Office Suite.
Google LLC is an American multinational technology company that focuses on artificial intelligence, search engine, online advertising; cloud computing, computer software, quantum computing, e-commerce, and consumer electronics.
Microsoft Corporation is an American multinational technology corporation that produces computer software, consumer electronics, personal computers, and related services. The company is listed as MSFT (NASDAQ) and generated revenue of USD 168 billion in 2021 and has 1, 44,000.
International Business Machines Corporation is an American multinational technology corporation headquartered in Armonk, New York, with operations in over 171 countries. The company is listed as IBM (NYSE) and generated revenue of USD 573.5 billion in 2021 and has 4,00,000 employees working across the globe.
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