How big is the Accounts Receivable Automation Market?

The Accounts Receivable Automation Market size is expected to reach USD 3.04 billion in 2024 and grow at a CAGR of 11.84% to reach USD 5.32 billion by 2029. Read More

What is the current Accounts Receivable Automation Market size?

In 2024, the Accounts Receivable Automation Market size is expected to reach USD 3.04 billion. Read More

Who are the key players in Accounts Receivable Automation Market?

SAP SE, Oracle Corporation, SK Global Software, Quadient (YayPay Inc.) and Kofax Inc. (Tungsten Automation Corporation) are the major companies operating in the Accounts Receivable Automation Market. Read More

Which is the fastest growing region in Accounts Receivable Automation Market?

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Accounts Receivable Automation Market?

In 2024, the North America accounts for the largest market share in Accounts Receivable Automation Market. Read More

What years does this Accounts Receivable Automation Market cover, and what was the market size in 2023?

In 2023, the Accounts Receivable Automation Market size was estimated at USD 2.68 billion. The report covers the Accounts Receivable Automation Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Accounts Receivable Automation Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Accounts Receivable Automation Market Trends

Statistics for the 2023 & 2024 Accounts Receivable Automation market trends, created by Mordor Intelligence™ Industry Reports. Accounts Receivable Automation trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Accounts Receivable Automation Industry

Solutions Segment Driving Market Growth

The Solutions segment leads the accounts receivable automation market, capturing 84.78% of the total market share in 2021. This dominance is projected to grow, with the segment expected to reach USD 3.77 billion by 2027, at a CAGR of 12.70%.

AI and ML Transformation: The use of AI in accounts receivable processes is revolutionizing the field, enhancing error detection, improving logic in payment matching, and reducing manual input in billing automation software.
Cloud-Based Expansion: The shift to cloud-based AR platforms is accelerating the growth of the Solutions segment, especially among SMEs. The acquisition of Rimilia, an AI-driven AR automation firm, by Blackline for USD150 million highlights the demand for scalable cloud offerings.
Efficiency Focus: Solutions that optimize cash flow and shorten accounting cycle times are a priority. Automation tools now enable AR teams to process large volumes of invoices faster, reducing the time spent on lower-value tasks like manual payment matching.
Integration Capabilities: AR automation tools are increasingly valued for their ability to integrate with existing ERP systems, as seen in Esker’s acquisition of numberz and the launch of Chargebee Receivables.

Accounts Receivable Automation Market: Cloud Computing Services Purchased by EU Enterprises, in Percentage (%), EU, 2023

Understand The Key Trends Shaping This Market

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Asia-Pacific Emerging as a High-Growth Region

The Asia-Pacific region is poised to become a global leader in AR automation, with a projected CAGR of 14.74% from 2023 to 2027. This growth is driven by rapid digital transformation across industries.

SME-Led Growth: SMEs in Asia-Pacific are adopting AR automation to manage cash flow and improve operational efficiency. Aspire, a Singaporean AR automation provider, illustrates this trend, reaching USD 1 billion in transaction volume just one year after its launch.
Strategic Expansions: Key players like Fuji Xerox are expanding their AR automation offerings in Asia-Pacific, reinforcing the region’s importance in the global market.
Cloud and Mobile Growth: High smartphone penetration and a growing cloud infrastructure are fueling the adoption of mobile-first AR solutions, such as Bill.com’s $625 million acquisition of Invoice2go, aimed at expanding its presence in the region.
Regulatory Compliance: Growing digital transaction regulations across Asia are driving AR automation adoption, as businesses seek to remain compliant while improving efficiency.