North America holds the largest accounting services market share with more than 40% of the global accounting services market

LONDON, March 2, 2022 /PRNewswire/ — North America is the largest region in the global accounting services market, accounting for 42.4% of the global market in 2021. It is 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 Africawhere growth will be at CAGRs of 13.82% and 13.63% respectively from 2021 to 2026.

The accounting services market North America is supported by the increase in disposable income, which leads to increased expenditure on accounting services and opens up more employment opportunities. For example, in 2021, according to trade economy data, from Canada personal disposable income increased further, from CAD 1,463,752 million ($1,129,794 million) in the second quarter of 2021 at CAD 1,471,864 million ($1,136,055 million) in the third trimester.

Request a Free Sample of the Accounting Services Market Report

Major Players in the Accounting Services Market

The accounting services market is fragmented with a large number of small players in the market. The top ten market competitors accounted for 21.04% of the total market in 2020. Major market players include PWC (PricewaterhouseCoopers), Ernst & Young, KPMG, Deloitte, ADP (Automatic Data Processing, Inc.) and others. .

The business strategies adopted by leading companies in the accounting services market include building business through strategic collaboration, launching applications, building business by providing auditing, consulting, tax and advanced consulting to many of the world’s most admired brands, as well as acquisitions and mergers to strengthen their service offerings and gain competitive advantages.

Accounting Services Market Growth Analysis

The size of the global accounting services market is expected to grow from $1175.88 billion in 2021 for $1324.77 billion in 2022 at a compound annual growth rate (CAGR) of 12.7%. The accounting services market growth is mainly driven by companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, working at distance and the closure of business activities that resulted in operational losses. challenges. The accounting services market is expected to reach 2019.02 billion in 2026 at a CAGR of 11.1%.

Segmentation of the accounting services market

The accounting services market is segmented by type into payroll services, tax preparation services, bookkeeping, financial auditing and other accounting services. Bookkeeping, financial auditing and other accounting services was the largest segment of the accounting market, accounting for 83.6% of the total in 2021. Going forward, the tax preparation services market is expected to be the fastest growing segment of the accounting services market segmented by type, at a CAGR of 13.9% during the period 2021-2026.

The accounting services market is also segmented by end-use industry into IT services, manufacturing, financial services, construction and others, and by service provider into large enterprises and small and medium enterprises.

Learn more about the Accounting Services market report

Check out similar market reports:

Forensic Audit Market – By End-Use Industry (Financial Services, Mining, Oil & Gas, Manufacturing, Healthcare), By Type of Investigation (Event & Data Analytics, Regulatory Investigations, Cross-Border Investigations , Bribery and Bribery Investigation, Accounting Malpractice and Securities Investigations), And By Region, Opportunities And Strategies – Global Forecasts To 2030

Global Asset Services Market Report 2021 – By Service (Fund Services, Custody & Accounting, Outsourcing Services, Securities Lending), By End User (Capital Markets, Wealth Management Firms), By Size business (large, medium and small businesses), COVID -19 Growth and change

Global Financial Services Market Report 2021 – By Type (Loans and Payments, Insurance, Reinsurance and Insurance Brokerage, Investments, Foreign Exchange), Impact and Recovery from COVID-19

Want to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in business, market and consumer research. Located around the world, it has consultants specializing in a wide range of industries, including manufacturing, healthcare, financial services, chemicals and technology.

The most comprehensive database in the world

The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and measures across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess gaps between supply and demand.

Contact information

The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
E-mail: [email protected]

SOURCE The Trade Research Society

Kristan F. Talley