Consainsights logo
  • Reports /
  • Accounts Payable Automation Market

Accounts Payable Automation Market

Accounts Payable Automation Market Research Report – Segmented By Component (Solution, Services), By Organization Size (Large Enterprises, Small and Medium-Sized Enterprises), By Deployment Type (On-Premises, Cloud), By Vertical (Consumer Goods and Retail, Banking, Financial Services, and Insurance, IT and Telecom, Manufacturing, Healthcare, Energy and Utilities, Others), By Region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America) & Region (North America, Europe, APAC, Latin America, Middle East and Africa) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2027.

Table of contents

Executive Summary

Accounts Payable Automation Market was valued at US $2.53 billion in 2021 and is projected to grow at 10.12% CAGR over the forecast period to reach US $4.52 billion by 2027. Accounts Payable Automation Market represented US $0.44 billion opportunity over 2019-2021 and estimated to create US $1.98 billion opportunity in 2027 over 2021.

Accounts Payable Automation Market Size (2019 - 2027), USD billion

Accounts Payable Automation from Consainsights analyses the Accounts Payable Automation Market in the Technology & Media industry over the forecast period to 2027.

Accounts Payable Automation research report from Consainsights outlines the detailed strategic analysis, trends, market opportunities, growth prospects, industry and market challenges and sustainable solutions to sustain in the competitive environment.

Accounts Payable Automation segmentation includes Component, Organization Size, Deployment Type, Vertical, Region and Geography.

Based on the Component, the Accounts Payable Automation analysis covers Solution, Services.

In Component segment, Solution segment has highest cagr growth of 8.95%.

Revenue Share (%), By Component (2021)

Based on the Organization Size, the Accounts Payable Automation analysis covers Large Enterprises, Small and Medium-Sized Enterprises.

In Organization Size segment, Large Enterprises segment has highest cagr growth of 8.95%.

Revenue Share (%), By Organization Size (2021)

Based on the Deployment Type, the Accounts Payable Automation analysis covers On-Premises, Cloud.

In Deployment Type segment, On-Premises segment has highest cagr growth of 8.95%.

Revenue Share (%), By Deployment Type (2021)

Based on the Vertical, the Accounts Payable Automation analysis covers Consumer Goods and Retail, Banking, Financial Services, and Insurance, IT and Telecom, Manufacturing, Healthcare, Energy and Utilities, Others.

In Vertical segment, Consumer Goods and Retail segment has highest cagr growth of 8.95%.

Revenue Share (%), By Vertical (2021)

Based on the Region, the Accounts Payable Automation analysis covers North America, Europe, Asia Pacific, Middle East and Africa, Latin America.

In Region segment, North America segment has highest cagr growth of 8.95%.

Revenue Share (%), By Region (2021)

Based on the region, the Accounts Payable Automation analysis covers North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America.

Key companies operating in the market include SAP Ariba, Sage, Tipalti, FreshBooks, FIS, Zycus, Bottomline Technologies, Coupa Software, Comarch, Financialforce, AvidXchange, Vanguard Systems, Bill.Com, Procurify, Nvoicepay and so on. This report covers the detailed analysis of the company profiles such as business segments, product portfolio, key brand insights and growth strategies adopted, company SWOT and Strategy analysis along with the financial analysis and analyst insights on the key companies operating in this market.

Market Overview

Definition & Scope

The base currency considered was the US Dollar (USD). Conversion of other currencies to USD was considered on the basis of the average exchange rate for the respective review-period years. The exchange rate conversion for forecast period was determined according to the base year’s conversion rates.

The base year was identified based on the availability of annual reports and secondary information. The base year considered for this study is 2027.

The review period considered for this study is from 2018-2027. The CAGR is for the forecast period, 2022-2027.

Market size estimations for the forecast years were in real terms. Inflation is not part of the pricing, and the average selling price (ASP) was kept constant throughout the forecast period for each country.

Distribution of primary interviews conducted was based on the regional share of the market and the presence of key players in each region.

As a result of data triangulation through multiple methodologies and approaches, the weighted averages of resulting estimates were considered to be the final values.

Currency, Year & Forecast

The currency used in this report is USD, with the market size indicated in terms of USD million/billion.

For companies reporting their revenues in USD, the revenues were taken from their respective annual reports/SEC filings.

For companies reporting their revenues in other currencies, the average annual currency conversion rates were used for a particular year to convert the value to USD Market Definition.

Component

Introduction

In 2021, Solution segment has the highest revenue of US $1.86 billion and is expected to grow at CAGR of 8.95% by 2027 Solution segment has highest cagr growth of 8.95%.

Accounts Payable Automation Market Y-o-Y Growth (USD billion), By Component 2019 - 2027
Accounts Payable Automation Market Size, By Component, 2019-2027 (USD billion)

Solution

Solution segment was valued at US $1.54 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $3.32 billion by 2027. Solution segment represented US $0.33 billion opportunity over 2019-2021 and estimated to create US $1.46 billion opportunity in 2027 over 2021.

Solution - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Services

Services segment was valued at US $0.55 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $1.19 billion by 2027. Services segment represented US $0.12 billion opportunity over 2019-2021 and estimated to create US $0.52 billion opportunity in 2027 over 2021.

Services - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Organization Size

Introduction

In 2021, Large Enterprises segment has the highest revenue of US $2.41 billion and is expected to grow at CAGR of 8.95% by 2027 Large Enterprises segment has highest cagr growth of 8.95%.

Accounts Payable Automation Market Y-o-Y Growth (USD billion), By Organization Size 2019 - 2027
Accounts Payable Automation Market Size, By Organization Size, 2019-2027 (USD billion)

Large Enterprises

Large Enterprises segment was valued at US $1.99 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $4.30 billion by 2027. Large Enterprises segment represented US $0.42 billion opportunity over 2019-2021 and estimated to create US $1.89 billion opportunity in 2027 over 2021.

Large Enterprises - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Small and Medium-Sized Enterprises

Small and Medium-Sized Enterprises segment was valued at US $0.10 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $0.21 billion by 2027. Small and Medium-Sized Enterprises segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.09 billion opportunity in 2027 over 2021.

Small and Medium-Sized Enterprises - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Deployment Type

Introduction

In 2021, On-Premises segment has the highest revenue of US $1.83 billion and is expected to grow at CAGR of 8.95% by 2027 On-Premises segment has highest cagr growth of 8.95%.

Accounts Payable Automation Market Y-o-Y Growth (USD billion), By Deployment Type 2019 - 2027
Accounts Payable Automation Market Size, By Deployment Type, 2019-2027 (USD billion)

On-Premises

On-Premises segment was valued at US $1.51 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $3.27 billion by 2027. On-Premises segment represented US $0.32 billion opportunity over 2019-2021 and estimated to create US $1.44 billion opportunity in 2027 over 2021.

On-Premises - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Cloud

Cloud segment was valued at US $0.58 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $1.24 billion by 2027. Cloud segment represented US $0.12 billion opportunity over 2019-2021 and estimated to create US $0.55 billion opportunity in 2027 over 2021.

Cloud - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Vertical

Introduction

In 2021, Consumer Goods and Retail segment has the highest revenue of US $0.98 billion and is expected to grow at CAGR of 8.95% by 2027 Consumer Goods and Retail segment has highest cagr growth of 8.95%.

Accounts Payable Automation Market Y-o-Y Growth (USD billion), By Vertical 2019 - 2027
Accounts Payable Automation Market Size, By Vertical, 2019-2027 (USD billion)

Consumer Goods and Retail

Consumer Goods and Retail segment was valued at US $0.81 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $1.75 billion by 2027. Consumer Goods and Retail segment represented US $0.17 billion opportunity over 2019-2021 and estimated to create US $0.77 billion opportunity in 2027 over 2021.

Consumer Goods and Retail - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Banking, Financial Services, and Insurance

Banking, Financial Services, and Insurance segment was valued at US $0.50 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $1.08 billion by 2027. Banking, Financial Services, and Insurance segment represented US $0.11 billion opportunity over 2019-2021 and estimated to create US $0.48 billion opportunity in 2027 over 2021.

Banking, Financial Services, and Insurance - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

IT and Telecom

IT and Telecom segment was valued at US $0.35 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $0.76 billion by 2027. IT and Telecom segment represented US $0.07 billion opportunity over 2019-2021 and estimated to create US $0.33 billion opportunity in 2027 over 2021.

IT and Telecom - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Manufacturing

Manufacturing segment was valued at US $0.21 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $0.45 billion by 2027. Manufacturing segment represented US $0.04 billion opportunity over 2019-2021 and estimated to create US $0.20 billion opportunity in 2027 over 2021.

Manufacturing - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Healthcare

Healthcare segment was valued at US $0.10 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $0.23 billion by 2027. Healthcare segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.10 billion opportunity in 2027 over 2021.

Healthcare - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Energy and Utilities

Energy and Utilities segment was valued at US $0.08 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $0.18 billion by 2027. Energy and Utilities segment represented US $0.02 billion opportunity over 2019-2021 and estimated to create US $0.08 billion opportunity in 2027 over 2021.

Energy and Utilities - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Others

Others segment was valued at US $0.03 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $0.07 billion by 2027. Others segment represented US $0.01 billion opportunity over 2019-2021 and estimated to create US $0.03 billion opportunity in 2027 over 2021.

Others - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Region

Introduction

In 2021, North America segment has the highest revenue of US $1.01 billion and is expected to grow at CAGR of 8.95% by 2027 North America segment has highest cagr growth of 8.95%.

Accounts Payable Automation Market Y-o-Y Growth (USD billion), By Region 2019 - 2027
Accounts Payable Automation Market Size, By Region, 2019-2027 (USD billion)

North America

North America segment was valued at US $0.83 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $1.79 billion by 2027. North America segment represented US $0.18 billion opportunity over 2019-2021 and estimated to create US $0.79 billion opportunity in 2027 over 2021.

North America - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Europe

Europe segment was valued at US $0.58 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $1.26 billion by 2027. Europe segment represented US $0.12 billion opportunity over 2019-2021 and estimated to create US $0.55 billion opportunity in 2027 over 2021.

Europe - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Asia Pacific

Asia Pacific segment was valued at US $0.34 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $0.75 billion by 2027. Asia Pacific segment represented US $0.07 billion opportunity over 2019-2021 and estimated to create US $0.33 billion opportunity in 2027 over 2021.

Asia Pacific - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Middle East and Africa

Middle East and Africa segment was valued at US $0.13 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $0.29 billion by 2027. Middle East and Africa segment represented US $0.03 billion opportunity over 2019-2021 and estimated to create US $0.13 billion opportunity in 2027 over 2021.

Middle East and Africa - Historical, Forecast Market Sizes (USD billion), 2019 - 2027

Latin America

Latin America segment was valued at US $0.20 billion in 2019 and is projected to grow at 8.95% CAGR over the forecast period to reach US $0.43 billion by 2027. Latin America segment represented US $0.04 billion opportunity over 2019-2021 and estimated to create US $0.19 billion opportunity in 2027 over 2021.

Latin America - Historical, Forecast Market Sizes (USD billion), 2019 - 2027