2025-2034 Growth Prospects of the Accounts Receivable Automation Market: Key Trends and Opportunities Analyzed
Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!
How Significant is the Anticipated Growth Rate of the Accounts Receivable Automation Market from 2025 to 2034?
The accounts receivable automation market size has grown rapidly in recent years. It will grow from $3.52 billion in 2024 to $4.03 billion in 2025 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to manual process inefficiencies, growing volume of transactions, error reduction and accuracy, cost reduction initiatives, demand for faster processing.
The accounts receivable automation market size is expected to see rapid growth in the next few years. It will grow to $7.22 billion in 2029 at a compound annual growth rate (CAGR) of 15.7%. The growth in the forecast period can be attributed to continued digital transformation, remote workforce evolution, increasing focus on cash flow optimization, demand for scalability and flexibility, and a customer-centric approach. Major trends in the forecast period include market competition and innovation, collaboration with suppliers/vendors, sustainability and paperless processes, focus on cybersecurity.
What Industry-Specific Factors Are Fueling the Growth of the accounts receivable automation Market?
The increase in adoption of automation and digitization by SMEs (small and medium-sized enterprises) is expected to propel the growth of the account receivable automation market. Digitalization and automation tools assist SMEs in lowering costs, standardizing processes, and reducing their reliance on labor. The automation and digitization will also drive SMEs towards the adoption of account receivable automation. For instance, in February 2024, according to a report published by the Department for Science and Technology, UK-based Government ministry, in 2022, provisional estimates indicate that the digital sector contributed £158.3 ($206.66) billion to the UK economy, accounting for 7.2% of the total UK Gross Value Added (GVA), up from 7.1% in 2021. Therefore, the increasing adoption of automation and digitization by SMEs will drive market growth for the accounts receivable automation market.
Request Your Free Accounts Receivable Automation Market Report Sample Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=8368&type=smp
Who Are the Dominant Players Pushing the Boundaries of the Accounts Receivable Automation Market?
Major companies operating in the accounts receivable automation market are:
• BlackLine Inc._x000D_
• Bottomline Technologies Inc._x000D_
• Comarch SA_x000D_
• Esker SA_x000D_
• HighRadius Corporation_x000D_
How Are Market Trends Revolutionizing the Accounts Receivable Automation Industry in Recent Times?
Technical adoption is the key trend gaining popularity in the accounts receivable automation market. Major companies operating in the market are introducing new technologies to gain a competitive edge in the market. For instance, in February 2022, Quadient, a France-based business process automation and customer experience management company, launched an accounts payable (AP) automation solution with a more secure and easier way to approve invoices and pay vendors from anywhere.
Pre-order Your Report for Quick and Easy Delivery!
How Are the Key Segments of the Accounts Receivable Automation Market Driving Opportunities and Innovations?
The accounts receivable automation market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment Mode: Cloud, On-premises
3) By Organization Size: Large Enterprises, Small And Medium Sized Enterprises
4) By Vertical: BFSI, Retail And Consumer Goods., Healthcare, IT And Telecom., Manufacturing, Energy And Utilities, Other Vertical
Subsegments:
1) By Solution: Invoice Processing Software, Payment Processing Solutions, Collections Management Software, Reporting And Analytics Tools
2) By Services: Consulting Services, Implementation Services, Managed Services, Support And Maintenance Services
Which Geographic Areas Are Influencing the Growth of the Accounts Receivable Automation Market?
North America was the largest region in the accounts receivable automation market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the accounts receivable automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Core Features That Define the Accounts Receivable Automation Market?
Accounts receivable automation refers to a method of automating time-consuming and repetitive accounts receivable tasks. This assists businesses in streamlining client invoicing and payment procedures.
Browse Through More Similar Reports By The Business Research Company:
Neobanking Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/neobanking-global-market-report
Value Based Care Payment Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/value-based-care-payment-global-market-report
Accounting Services Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/accounting-services-global-market-report
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
