The Growing Significance of Gen AI in Finance and Accounting Market
IBM Corporation, Intel Corporation, Narrative Science, Amazon Web Services, Inc., Microsoft, Google LLC, Salesforce, Inc., Epicor Software Corporation, Sage Group, and SAP SE, among others are some of the key players operating in the global market.
Brooklyn, New York, March 05, 2024 (GLOBE NEWSWIRE) — According to a new market research report published by Global Market Estimates, the global gen AI in finance and accounting market is projected to grow at a CAGR of 33.2% from 2024 to 2029.
The growth of the global gen AI in finance and accounting market is driven by the increasing complexity of financial transactions and the growing demand for real-time analytics.
Key Market Trends
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Enhanced Data Analytics: Gen AI enables finance and accounting professionals to analyze large volumes of data more efficiently, leading to better insights for decision-making, risk management, and compliance.
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Automation of Routine Tasks: Generative AI streamlines repetitive tasks like data entry, reconciliation, and reporting, freeing up time for finance teams to focus on higher-value activities such as strategic planning and analysis.
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Improved Fraud Detection: Gen AI offers advanced capabilities for detecting anomalies and patterns indicative of fraudulent activities, helping organizations enhance their fraud prevention measures and safeguard financial assets.
Browse 147 Market Data Tables and 115 Figures spread through 163 Pages and in-depth TOC on “Global Gen AI in Finance and Accounting Market – Forecast to 2029’’ https://www.globalmarketestimates.com/market-report/gen-ai-in-finance-and-accounting-market-4465
Key Market Insights
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As per the deployment mode outlook, the cloud segment is expected to be the largest segment in the global gen AI in finance and accounting market from 2024 to 2029
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As per the type outlook, the solutions segment is expected to be the largest segment in the global gen AI in finance and accounting market from 2024 to 2029
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Asia Pacific region is analyzed to be the fastest-growing region in the market
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North America region is estimated to hold the largest share of the market during the forecast period from 2024 to 2029
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IBM Corporation, Intel Corporation, Narrative Science, Amazon Web Services, Inc., Microsoft, Google LLC, Salesforce, Inc., Epicor Software Corporation, Sage Group, and SAP SE, among others, are some of the key players operating in the global gen AI in finance and accounting market
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By Type Outlook (Revenue, USD Billion, 2024-2029)
By Application Outlook (Revenue, USD Billion, 2024-2029)
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Credit Scoring
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Fraud Detection
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Risk Management
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Forecasting & Reporting
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Others
By Deployment Mode Outlook (Revenue, USD Billion, 2024-2029)
By Regional Outlook (Revenue, USD Billion, 2024-2029)
North America
Europe
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Germany
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U.K.
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France
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Spain
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Italy
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Netherlands
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Rest of Europe
Asia Pacific
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China
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India
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Japan
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South Korea
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Thailand
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Indonesia
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Malaysia
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Singapore
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Vietnam
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Rest of APAC
Central and South America
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Brazil
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Argentina
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Chile
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Rest of CSA
Middle East and Africa
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Saudi Arabia
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UAE
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Israel
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South Africa
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Rest of MEA
Contact: Yash Jain
Director – Global Accounts & Strategic Advisory
Email address: yash.jain@globalmarketestimates.com
Phone Number: +1 6026667238 / +91 9769352498
Website: www.globalmarketestimates.com
Attachment
CONTACT: Contact: Yash Jain Director - Global Accounts & Strategic Advisory Email address: yash.jain@globalmarketestimates.com Phone Number: +1 6026667238 / +91 9769352498 Website: www.globalmarketestimates.com
Gen AI Revolutionizing Finance and Accounting
The incorporation of generative artificial intelligence (Gen AI) technology in the finance and accounting sector is bringing about transformative changes, enhancing operational efficiency and decision-making processes. Companies like IBM Corporation, Intel Corporation, and Microsoft are at the forefront of driving innovation in this space, alongside other key players.
Key Market Trends
- Enhanced Data Analytics: Gen AI is revolutionizing data analytics in finance and accounting, providing…
- Automation of Routine Tasks: The automation capabilities of Gen AI are streamlining mundane tasks such as data entry…
- Improved Fraud Detection: With advanced fraud detection algorithms, Gen AI is bolstering security measures…
Market Growth Projections
The global gen AI in finance and accounting market is poised to exhibit significant growth, with a projected CAGR of 33.2% from 2024 to 2029. This growth is attributed to the increasing demand for real-time analytics and the need for efficient financial transaction processing.
Regional Insights
– North America: Expected to hold the largest market share…
– Europe: Key countries like Germany, U.K., and France are…
– Asia Pacific: Emerges as the fastest-growing region…
– Central and South America: Countries like Brazil and Argentina…
– Middle East and Africa: Significant growth opportunities in…
Contact Information
For further inquiries or to request a sample copy of the report, please contact Yash Jain, Director of Global Accounts & Strategic Advisory, at yash.jain@globalmarketestimates.com or by phone at +1 6026667238 / +91 976935…
The integration of Gen AI in finance and accounting is reshaping the industry landscape, offering advanced solutions for data analysis, automation, and fraud prevention. As companies embrace this technology, the market is expected to witness substantial growth and innovation in the coming years.
