Accounts Receivable Automation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The accounts receivable automation market (hereafter referred to as the market studied) was valued at USD 2,140.96 million in 2021, and it is projected to be worth USD 4,276.65 million by 2027 while registering a CAGR of 12.11% from 2022 through 2027 (hereafter, referred to as the forecast period).
Key HighlightsThe market's competitive landscape is moderately fragmented due to the presence of significant market players globally. Acquisitions, partnerships with industry participants, and new product/service rollouts have been the key competitive strategies exhibited by vendors in the market. For instance, Cortex, a provider of accounts payable and accounts receivable solutions for the oil and gas sector, was acquired by Drillinginfo. Such developments are expected to increase in respective end-user verticals as prominent industry players are expected to expand their market presence.
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