Accounting Services Market Trends, Top Companies, Share, Growth And Forecast 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Accounting Services Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $804.27 billion In 2028 At A CAGR Of 4.4% :

The accounting services market size has grown steadily in recent years. It will grow from $652.32 billion in 2023 to $676.73 billion in 2024 at a compound annual growth rate (CAGR) of 3.7%. The growth in the historic period can be attributed to globalization, outsourcing of back-end operations to low-cost economies, a rise in research and development (r&d) investments, and strong economic growth in emerging markets.

The accounting services market size is expected to see steady growth in the next few years. It will grow to $804.27 billion in 2028 at a compound annual growth rate (CAGR) of 4.4%. The growth in the forecast period can be attributed to changes in standards of financial reporting standards transition, regulatory reforms, technology development, and rising urbanization. Major trends in the forecast period include investing in opportunities and broaden services with information technology, consider adopting social media communication, cloud based accounting software, blockchain technology, adopt big data, communication technology, and artificial intelligence and companies should try automating the redundant processes that involve manual labor.

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Accounting Services Market Major Segments
The accounting services market covered in this report is segmented -

1) By Type: Payroll Services, Tax Preparation Services, Bookkeeping, Financial Auditing And Other Accounting Services
2) By Service Provider: Large Enterprise, Small And Medium Enterprise
3) By End Use Industry: IT Services, Manufacturing, Financial Services, Construction, Others

Key Driver - Surge In Regulatory Reforms Fuels Demand For Accounting Services

Regulatory reforms in the financial sector have heightened demand for accounting services such as accounting and tax advisory. For instance, in 2021-22, as a result of the escalating stress in the banking and financial sectors, the government of India launched the National Asset Reconstruction Company Limited (NARCL) or Bad Bank. On resuming regular operations in the current year, 22 stressed loans amounting to more than 80,000 crores are expected to be transferred to NARCL for resolution through a focused approach. Over the next five years, further major changes, such as the UK's exit from the EU, will create additional demand for accounting consultants, thereby driving the market.

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Prominent Trend - Outsourcing For Improved Expertise And Advisory Offerings

Some accountants are 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 customers' 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. For instance, QX Accounting Services (QXAS) Ltd provides outsourced accounting, finance, and other services to accountants and accountancy firms in the UK.

Accounting Services Market Players
Major companies operating in the accounting services market report are PwC, Ernst & Young, Deloitte Touche Tohmatsu Limited, KPMG, ADP (Automatic Data Processing, Inc), Paychex, Inc., Grant Thornton LLP, RSM International, H&R Block, Inc., Huazhen CPA, BDO China Shu Lun Pan CPAs, Pan-China CPA, Ruihua CPA, Zhong Tian, Moore Stephens UK, Rodl Partner, Champion Accountants, DSG Chartered Accountants, RWT, Spira Twist & Associates, Italian Accountants Studio Del Gaizo Picchioni, Studio International Tornambè, KML Bookkeeping Services, Alvarez & Marsal, Picco Accounting, Charles Ghadban, SAP SE, Oracle Corporation, Kofax Inc., YayPay Inc., SK Global Software Accounting, Mercer LLC, McKinsey & Company, Willis Towers Watson, Korn Ferry, Boston Consulting Group, Aon Hewitt, Bain & Company, Oliver Wyman, Huron, Capgemini, Kearney, IBM Global Business Services, Kaiser Associates, Crowe Horwath, Baker Tilly Greenwoods Chartered Accountants, PricewaterhouseCoopers, Mazars, Crowe

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Largest And Fastest Growing Region In The Market
North America was the largest region in the accounting services market in 2023. Western Europe was the second largest region in the accounting services market. The regions covered in the accounting services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Accounting Services Market Report Structure
3. Accounting Services Market Trends And Strategies
4. Accounting Services Market - Macro Economic Scenario
5. Accounting Services Market Size And Growth
…..
27. Accounting Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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