The Global Accounting Services Market Report by The Business Research Company covers accounting services market drivers and restraints, accounting services market size, major players, and the impact of COVID-19 on the accounting services market.
The accounting services market consists of the sales of accounting services and related goods by entities (organizations, sole traders and partnerships) that provide recording and analysis of financial transactions and other financial values pertaining to businesses and other organizations. The accounting service involves summarizing, analyzing, auditing and reporting of the financial transactions to tax collection agencies and entities. It also involves auditing and preparing financial statements, designing accounting systems, developing budgets and accounting advisory. Accounting services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client.
Regulatory reforms in the financial sector have heightened demand for accounting services such as accounting and tax advisory. The global accounting services market is expected to grow from $544.06 billion in 2020 to $573.29 billion in 2021 at a compound annual growth rate (CAGR) of 5.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $735.94 billion in 2025 at a CAGR of 6%.
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Some accounting services market trends include outsourcing typical basic accounting tasks such as payroll accounting, accounts payable and accounts receivable to allow their employees to focus on higher value activities such as becoming vertical experts in their customer’s markets and analyzing their clients’ business data. This extra attention and analysis is transforming the role of a traditional accountant into a business advisor and takes customer service to the next level by developing strong counsel-focused relationships.
Global accounting services market segments include:
1) By Type: Payroll Services, Tax Preparation Services, Bookkeeping, Financial Auditing and Other Accounting Services.
2) By End Use Industry: IT Services, Manufacturing, Financial Services, Construction, Others.
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest region in the global accounting services market, accounting for 43% of the total market.
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The Accounting Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides accounting services market overviews, analyzes and forecasts market size, share, accounting services market players, accounting services market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The accounting services identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Accounting Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: PwC LLP, Ernst & Young LLP, Deloitte LLP, KPMG LLP, BDO International Ltd
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The accounting services Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The accounting services Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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