Future of the Accounts Receivable Automation Market: Trends, Innovations, and Key Forecasts Through 2034

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Accounts Receivable Automation Market Size Growth Forecast: What to Expect by 2025?
The market size for accounts receivable automation has seen a quick expansion in recent years. The growth is projected to surge from $3.52 billion in 2024 to $4.03 billion in 2025, with a compound annual growth rate (CAGR) of 14.3%. The historical growth can be linked to inefficiencies in manual processes, an increase in the number of transactions, a decrease in errors and heightened accuracy, initiatives to reduce costs, and a push for quicker processing.

How Will the Accounts Receivable Automation Market Size Evolve and Grow by 2029?
The market size of accounts receivable automation is predicted to grow rapidly in the coming years, reaching $7.22 billion by 2029 with a compound annual growth rate (CAGR) of 15.7%. The expected growth during the forecasted period is largely due to ongoing digital transformation, the evolution of remote workforces, a heightened emphasis on optimizing cash flow, increasing demand for scalability and flexibility, as well as a stronger focus on customer centricity. Other significant trends for the period are competitive market movements and innovation, alliances with suppliers/vendors, a shift towards sustainability and paperless transactions, and an intensified focus on cybersecurity.

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What Drivers Are Propelling the Growth of Accounts Receivable Automation Market Forward?
The growth of the account receivable automation market is set to be bolstered by the rising uptake of automation and digitization by SMEs (small and medium-sized enterprises). SMEs are finding that digitizing and automating their processes brings down costs, improves process standardization, and lessens their labor dependencies. Account receivable automation is set to benefit from this digital and automation trend within SMEs. For example, in February 2024, provisional estimates from a report by the Department for Science and Technology, a UK government ministry, revealed that the digital sector had contributed £158.3 ($206.66) billion to the UK economy in 2022. This accounted for 7.2% of the total UK Gross Value Added (GVA), which was an increase from 7.1% in 2021. The growing embrace of automation and digitization by SMEs is, thus, seen as a key contributor to the expansion of the accounts receivable automation market.

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Which Emerging Trends Are Transforming the Accounts Receivable Automation Market in 2025?
The primary trend garnering attention in the accounts receivable automation market is the adoption of technology. Leading companies in this market are rolling out new tech advancements to enhance their competitiveness. An illustration of this is the launch of an accounts payable (AP) automation solution by the France-based firm, Quadient, in February 2022. This solution simplifies the process of invoice approval and vendor payment, offering a safer and more convenient platform operable from any location.

What Are the Key Segments in the Accounts Receivable Automation Market?
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

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Who Are the Key Players Shaping the Accounts Receivable Automation Market's Competitive Landscape?
Major companies operating in the accounts receivable automation market are BlackLine Inc., Bottomline Technologies Inc., Comarch SA, Esker SA, HighRadius Corporation, SAP SE, Oracle Corporation, Kofax Inc., YayPay Inc., SK Global Software LLC, FinancialForce Inc., The Sage Group PLC, VersaPay Corporation, Bill.com Holdings Inc., Corcentric LLC, MHC Software Inc., Qvalia AB, Anytime Collect, Neopost SA, Workday Inc., Coupa Software Inc., Fidelity National Information Services Inc., Zoho Corporation, Fiserv Inc., Invoiced Inc., MineralTree Inc., Nvoicepay Inc., Rimilia Holdings Ltd., Serrala Group, Tesorio Inc., Tradeshift Inc.

What Geographic Markets Are Powering Growth in 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.

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