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Accounts Payable Automation Market Predicted To Grow USD 3.1 Billion By 2024, Trends and Forecast Report by MarketsandMarkets™ Accounts Payable Automation Market According to a research report "Accounts Payable Automation Market by Component (Solution and Services), Organization Size, Deployment Type, Vertical (Consumer Goods and Retail, BFSI, IT and Telecom, and Manufacturing), and Region - Global Forecast to 2024", published by MarketsandMarkets, is expected to grow from USD 1.9 billion in 2019 to USD 3.1 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. The increasing demand to reduce the number of delayed payments and improve the compliance rate with controlled user access and credentials leading to reduced fraudulent transactions are the major factors driving the growth of the AP automation market. Browse 63 market data Tables and 31 Figures spread through 121 Pages and in-depth TOC on "Accounts Payable Automation Market by Component (Solution and Services), Organization Size, Deployment Type, Vertical (Consumer Goods and Retail, BFSI, IT and Telecom, and Manufacturing), and Region - Global Forecast to 2024" Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1206101 By vertical, Banking, Financial Services, and Insurance to contribute to the growth of the Accounts Payable Automation Market during the forecast period The global banking sector is becoming more strategically focused and technologically advanced for responding to consumer expectations while trying to defend the market share against an increasing array of competitors. AP automation in the BFSI vertical focuses on the increasing efficiency of documents by replacing paper invoices with digital invoices. The streamlined and automated payable process helps to serve clients exceptionally, increases profit, prevents fraud, and helps to meet regulatory compliances effectively. On-premises to hold the highest market share during the forecast period The on-premises AP automation solution is deployed on the server of the client organization; however, the user or buyer needs to acquire a license to use the AP automated solution, which is customizable. Vendors offer implementation and integration services to get the solution adequately deployed at the client's location for optimum use. The on-premises AP automation solution enables enterprises to automate payable workflow and define rules for the automated approvals of invoices. The percentage share of on-premises AP automation solution is decreasing, as these applications demand high-initial investments and long-term developer commitment. North America to hold the highest market share during the forecast period