Global Accounts Receivable Automation Market is valued at approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2028. Accounts receivable automation is software that is generally adopted to automate the process of account receivable functions. This software is supporting organizations in saving money and time and enhancing proficiency. The growing adoption of technologies such as cloud computing, ML, and AI, the rising need to improve productivity and efficiency of employees, and the surging demand for quick invoicing to reduce delays in payments are primary factors soaring the global market demand. For instance, according to the IEEE ComSoc in 2021, the global public spending on cloud computing reached USD 332.3 billion in 2021 with an increase of around 23.1 % from USD 270 billion in 2020. Consequentially, these factors are fostering demand for accounts receivable automation, which, in turn, accelerates the growth of the market around the world. However, the high cost of implementation is involved, and growing privacy and security concerns curb the growth of the market over the forecast period of 2022-2028. Also, the rising emphasis on the improvement of cash flow and increasing technological advancements are anticipated to act as catalyzing factors for the market demand during the forecast period.
The key regions considered for the global Accounts Receivable Automation Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the rising adoption of emerging technologies, and the presence of various well-established market players such as BlackLine, Oracle, and HighRadius, and many others. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the increasing globalization, rapid digitalization, and the rising penetration of internet facilities, would create lucrative growth prospects for the Accounts Receivable Automation Market across the Asia-Pacific region.
Major market players included in this report are:
Bottomline Technologies, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Deployment Mode:
Banking, Financial Services & Insurance
IT & Telecom
Consumer Goods & Retail
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028
Target Audience of the Global Accounts Receivable Automation Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers