Accounting Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030 provides the strategists, marketers and senior management with the critical information they need to assess the global accounting services market as it emerges from the COVID-19 shut down.
Reasons to Purchase
Description:
Where is the largest and fastest growing market for the accounting services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Accounting Services market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider accounting services market, and compares it with other markets.
Scope
Markets Covered:
1) By Type: Payroll Services; Tax Preparation Services; Bookkeeping, Financial Auditing and Other Accounting Services
2) By End Use Industry: IT Services; Manufacturing; Financial Services; Construction; Others
Companies Mentioned: PwC LLP; Ernst & Young LLP; Deloitte LLP; KPMG LLP; BDO International Ltd
Metrics Covered: Number of Enterprises; Number of Employees
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, accounting services indicators comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Description:
Where is the largest and fastest growing market for the accounting services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Accounting Services market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider accounting services market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The accounting services market section of the report gives context. It compares the accounting services market with other segments of the professional services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, accounting services indicators comparison.
Scope
Markets Covered:
1) By Type: Payroll Services; Tax Preparation Services; Bookkeeping, Financial Auditing and Other Accounting Services
2) By End Use Industry: IT Services; Manufacturing; Financial Services; Construction; Others
Companies Mentioned: PwC LLP; Ernst & Young LLP; Deloitte LLP; KPMG LLP; BDO International Ltd
Metrics Covered: Number of Enterprises; Number of Employees
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, accounting services indicators comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Frequently Asked Questions about the Global Accounting Services Market
What is the estimated value of the Global Accounting Services Market?
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Report Attribute | Details |
---|---|
Published | February 2021 |
Forecast Period | 2021 - 2025 |
Estimated Market Value ( USD | $ 573.29 billion |
Forecasted Market Value ( USD | $ 735.94 billion |
Compound Annual Growth Rate | 6.4% |
Regions Covered | Global |
Table of Contents
1. Executive Summary2. Report Structure7. Accounting Services Market Trends and Strategies8. Impact of COVID-19 on Accounting Services21. Key Mergers and Acquisitions in the Accounting Services Market25. Copyright and Disclaimer
3. Accounting Services Market Characteristics
4. Accounting Services Market Product Analysis
5. Accounting Services Market Supply Chain
6. Accounting Services Market Customer Information
9. Accounting Services Market Size and Growth
10. Accounting Services Market Regional Analysis
11. Accounting Services Market Segmentation
12. Accounting Services Market Metrics
13. Asia-Pacific Accounting Services Market
14. Western Europe Accounting Services Market
15. Eastern Europe Accounting Services Market
16. North America Accounting Services Market
17. South America Accounting Services Market
18. Middle East Accounting Services Market
19. Africa Accounting Services Market
20. Accounting Services Market Competitive Landscape
22. Market Background: Professional Services Market
23. Recommendations
24. Appendix
Executive Summary
Major companies in the accounting services market include PwC LLP; Ernst & Young LLP; Deloitte LLP; KPMG LLP and BDO International Ltd.The global accounting services market is expected to grow from $544.06 billion in 2020 to $573.29 billion in 2021 at a compound annual growth rate (CAGR) of 5.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $735.94 billion in 2025 at a CAGR of 6%.
The accounting services market consists of the sales of accounting services and related goods by entities (organizations, sole traders and partnerships) that provide recording and analysis of financial transactions and other financial values pertaining to businesses and other organizations. The accounting service involves summarizing, analyzing, auditing and reporting of the financial transactions to tax collection agencies and entities. It also involves auditing and preparing financial statements, designing accounting systems, developing budgets and accounting advisory. Accounting services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client. The accounting services market is segmented into payroll services; tax preparation services and bookkeeping, financial auditing and other accounting services.
North America was the largest region in the global accounting services market, accounting for 43% of the market in 2020. Western Europe was the second largest region accounting for 35% of the global accounting services market. Africa was the smallest region in the global accounting services market.
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 customer’s 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.
The outbreak of Coronavirus disease (COVID-19) has acted as a restraint on the accounting services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of 'lock down' and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the accounting services market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Regulatory reforms in the financial sector have heightened demand for accounting services such as accounting and tax advisory. For instance, Basel-3 standards will be implemented in 2019, thus 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, thereby driving the market.
Companies Mentioned
A selection of companies mentioned in this report includes:
- PwC LLP
- Ernst & Young LLP
- Deloitte LLP
- KPMG LLP
- BDO International Ltd
Methodology
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