Accounting Services Market Sales, Gross Margin And Revenue Report 2020-30: Covid 19 Impact And Recovery

Accounting Services Market By Type Of Service (Bookkeeping, Financial Auditing And Other Accounting Services, Payroll Services, Tax Preparation Services), By Resources, By End-Users, And By Region– Global Forecast To 2023 By The Business Research Company

The global accounting services market reached a value of nearly $574.4 billion in 2019, having grown at a compound annual growth rate (CAGR) of 5.7% since 2015, and is expected to grow at a CAGR of 6.3% to nearly $734.7 billion by 2023.Growth in the historic period resulted from globalization, outsourcing back-end operations to low-cost economies.

The Key drivers of the accounting services market include:
Regulatory Reforms– Regulatory reforms in the financial sector have heightened the demand for accounting services such as accounting and tax advisory. For instance, the Basel-3 standards will be implemented in 2019, increasing the demand for accounting services globally. Over the next five years, further major changes, such as the UK’s exit from the EU will create additional demand for accounting consultants, driving the accounting services market.

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Accounting Services Market Segmentation:
The accounting services market is segmented by type of service

By Type Of Service- The accounting services market can be segmented by type of service
1) Bookkeeping, Financial Auditing and Other Accounting Services
2) Payroll Services
3) Tax Preparation Services
The bookkeeping, financial auditing and other accounting services market was the largest segment of the accounting services market segmented by type of service, accounting for $424.18 billion or 73.8% of the total in 2019 and is expected to be the fastest-growing segment going forward at a CAGR of 6.6%.

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By Geography - The accounting services market is segmented into
1) North America
2) Western Europe
3) Asia Pacific
4) Eastern Europe
5) South America
6) Middle East
7) Africa

Some of the major key players involved in the accounting services market are
1. PWC (PricewaterhouseCoopers)
2. Ernst & Young
3. KPMG
4. Deloitte
5. ADP (Automatic Data Processing, Inc.)

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

This release was published on openPR.