The Asia-Pacific account payable automation market is anticipated to grow at a substantial CAGR of 11.0% during the forecast period. The market is set to display impressive growth during the forecast period with some key trends emerging, such as the increasing advancement in technology, adoption of paperless and cost-effective automated payable solutions, and the rise in of several vendors to explore the opportunity in the region. The account payable automation market is also enhancing due to the enlargement of the mobile commerce industry along with digitization. The Asia-Pacific account payable automation market suffered a downfall during the COVID-19 crisis as most of the economic activities were halted during Q1 and Q2 2020.
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The key players of the account payable automation market include Bottomline Technologies, Inc., Coupa Software Inc., Esker, Lexmark International, Inc., SAP Ariba, and so on. The new product launch, product development, and considerable investment in R&D are the core focus of these major market players. For instance, In February 2019, one of the global AI-based process automation solution provider companies named Esker had done a partnership in the Asia-Pacific region with Fuji Xerox. Fuji Xerox is considered a software provider that will offer Esker’s cloud-based Accounts Payable automation solution to manage the accounts payable (AP) management processes in Japan and will start in countries such as Australia, Hong Kong, and Singapore.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Asia-Pacific Account Payable Automation Market
By Organization Size
- Large Enterprises
- Small and Medium-Sized Enterprises (SMEs)
By Deployment Type
- On-Premises
- Cloud
By Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Consumer Goods and Retail
- Information Technology (IT) and Telecom
- Healthcare
- Other
Asia-Pacific Account Payable Automation Market Report Segment by Region
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
The Report Covers
- Comprehensive research methodology of the Asia-Pacific account payable automation market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Asia-Pacific account payable automation market.
- Insights about market determinants that are stimulating the Asia-Pacific account payable automation market.
- Detailed and extensive market segments with the regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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