Dublin, April 28, 2020 (GLOBE NEWSWIRE) — The report “Accounting Services Global Market Opportunities and Strategies to 2023” has been added to from ResearchAndMarkets.com offer.
This publisher’s report provides strategists, marketers, and senior management with the essential information they need to assess the global accounting services market.
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.
Growth over the historical period has resulted from globalization, outsourcing of back-end operations to low-cost economies. Factors that negatively affected growth during the historical period were accounting scandals, regulatory challenges, and unstable political and social situations.
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Where is the largest and fastest growing market for accounting services market? What is the relationship between the market and the overall economy, demographics and other similar markets? What forces will shape the market in the future? The publisher’s Global Accounting Services Market Opportunities and Strategies Report to 2023 answers all these questions and more.
This report describes and assesses the global accounting services market. It covers two five-year periods, from 2015 to 2019, called the historical period, and from 2019 to 2023, the forecast period.
Going forward, changes in financial reporting standards, technological development, and regulatory reforms are expected to drive the market. The shortage of skills could hamper the growth of the accounting services market in the future.
The accounting services market is segmented by service type into payroll services, tax preparation services and bookkeeping services, financial auditing and other accounting services. Bookkeeping, financial auditing and other accounting services constituted the largest segment of the accounting market, accounting for $424.18 billion or 73.8% of the total market in 2019. It is also expected to be the fastest growing segment with a CAGR of 6.6. %.
North America was the largest accounting services market region, accounting for 42.6% of the global market in 2019. It was followed by Western Europe, Asia-Pacific and other regions. Going forward, the fastest growing regions in the accounting services market will be South America and Eastern Europe, where growth will be at CAGRs of 8.4% and 7, 7% respectively from 2019 to 2023.
The global database software market is highly fragmented with a large number of small players in the market. The top ten market competitors accounted for 19.6% of the total market in 2018. Major market players include PWC (PricewaterhouseCoopers), Ernst & Young, KPMG, Deloitte, ADP (Automatic Data Processing, Inc.) and others. .
The major growth potential for the accounting services market segmented by service type will come from bookkeeping, financial auditing and other accounting services, which will earn $424.2 billion in global annual sales from by 2023. The Accounting Services Market will gain the most in the United States. at $50.7 billion.
Market trend based strategies for accounting services market include investment in cloud based accounting software, blockchain technology, communication technology and artificial intelligence and companies should try to automate redundant processes that involve manual labor. The business strategies adopted by major companies in the accounting services market include investing in technology to digitize the business, expanding into other geographies, integrating and gaining competitive advantage and in acquisitions and mergers to strengthen their service offerings.
Main topics covered:
1. Executive Summary of Accounting Services Market
2. Table of Contents
3. List of Figures
4. List of tables
5. Structure of the report
6.1.1. Segmentation by geography
6.1.2. Segmentation by type
7. Characteristics of the accounting services market
7.1. Market definition
7.2. Segmentation by type of service
8. Accounting Services Market, Supply Chain Analysis
8.1.2. Accounting Service Providers
8.1.3. end users
9. Accounting Services Market, Product Analysis – Examples of Products/Services
10. Accounting Services Market Customer Information
10.1. Outsourced Accounting Gives Greater Customer Satisfaction
10.2. Accounts Receivable Services Revenue Grows
10.3. Accounting services are often outsourced by small businesses
11. Accounting Services Market Trends and Strategies
11.1. Cloud-based accounting software to improve efficiency
11.2. Blockchain technology for accounting practices to improve accuracy and compliance
11.3. Increase in outsourcing in accounting firms
11.4. Accounting services using new communication technologies
11.5. Artificial intelligence fully automates accounting tasks
12. Global Accounting Services Market Size and Growth
12.1. Market size
12.2. Historical Market Growth, Value (Billions of dollars)
12.2.1. Market Drivers 2015-2019
12.2.2. Constraints on the market 2015-2019
12.3. Market growth forecast, value (in billions of dollars)
12.3.1. Market Drivers 2019-2023
12.3.2. Constraints on the market 2019-2023
13. Accounting Services Market, Regional Analysis
13.1. Global accounting services market, 2019, by region, value (USD billion)
13.2. Global accounting services market, 2015-2023, historical and forecast, by region
13.3. Global Accounting Services Market, 2019-2023, Growth and Market Share Comparison, by Region
14. Global Accounting Services Market Segmentation
14.1. Global Accounting Services Market, Segmentation by Service Type, 2015-2023, Value (USD Billion)
15. Global Accounting Services Market Comparison with Macroeconomic Factors
15.1. Accounting Services Market Size, Percentage of GDP, Global
15.2. Average per capita spending in the accounting services market, globally
16. Asia Pacific Accounting Services Market
17. Western Europe Accounting Services Market
18. Eastern Europe Accounting Services Market
19. North America Accounting Services Market
20. South America Accounting Services Market
21. Middle East Accounting Services Market
22. Africa Accounting Services Market
23. Global Accounting Services Market Competitive Landscape
23.1. Company Profiles
23.2. PWC (PricewaterhouseCoopers)
23.2.1. Company presentation
23.2.2. Products and services
23.2.3. Business strategy
23.2.4. Financial overview
23.3. Ernest and Young
23.6. ADP (Automatic Data Processing, Inc.)
24. Major mergers and acquisitions in the accounting services market
24.1. Wipfli LLP acquired Stratagem CPA
24.2. Clark Schaefer Hackett & Co. acquired Keelsra Business Services
24.3. Marcum LLP acquired Skoda Minotti
24.4. Wipfli LLP acquired Porter Keadle Moore, LLC
24.5. Moss Adams LLP merged with Hein & Associates LLP
24.6. Steger Gowie & Co. merged with Merves Amon & Barsz
24.7. AGH, LLC merged with Carr, Riggs & Ingram
25. Market Context: Professional Services
25.1. Characteristics of the professional services market
25.1.1. Market definition
25.1.2. Type of service segmentation
25.1.3. Design, research, promotion and consulting services
25.1.4. Legal services
25.1.5. Accounting services
25.1.6. All other professional, scientific and technical services
25.2. Global Professional Services Market, Segmentation by Service Type, 2015-2023, Value (USD Billion)
25.3. Global Professional Services Market, 2019, by Region, Value (USD Billion)
25.4. Global professional services market, 2015-2023, historical and forecast, by region
26.1. Global accounting services market in 2023 – Countries offering the most new opportunities
26.2. Global accounting services market in 2023 – Segments with the most new opportunities
26.3. Global Accounting Services Market 2023 – Growth Strategies
26.3.1. Strategies based on market trends
26.3.2. Competitors’ strategies
27. Accounting services market, conclusions and recommendations
29. Copyright and Disclaimer
- ADP (Automatic Data Processing, Inc.)
- Alvarez and Marsal
- Baker Tilly
- BDO (Binder Dijker Otte) International Limited
- Champion accountants
- Accounting Charles Ghadban
- Crowe Horwath
- DSG chartered accountants
- Ernest and Young
- Grant Thorton
- HR block
- Italian Accountants Studio Del Gaizo Picchioni
- KML Accounting Services
- Moore Stephens United Kingdom
- Pan-Chinese CPA
- Picco Accounting
- PWC (PricewaterhouseCoopers)
- Rodl partner
- CPA Ruihua
- Spira Twist & Associates
- Studio International Tornamb
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