Bookkeeping in the UK - Industry Market Research Report

Double-edged sword: Advances in accounting software are likely to siphon demand

Bookkeeping firms have been forced to adapt to technological change, with tech advancements and changing client preferences providing a significant boost to online bookkeeping and cloud accounting. This has encouraged online-only bookkeepers into the market, while more traditional bookkeepers have been left behind. Industry revenue is set to climb at a compound annual rate of 6.5% over the five years through 2022-23, including a 1% rise in 2022-23, to £5.7 billion.

Firms in the Bookkeeping industry record commercial transactions for businesses and other organisations for the purpose of record keeping and accounting. The industry does not include the provision of management consultancy or accounting services.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.