Global Accounting Services Market Opportunities and Strategies to 2023

Dublin, April 28, 2020 (GLOBE NEWSWIRE) -- The "Accounting Services Global Market Opportunities and Strategies to 2023" report has been added to ResearchAndMarkets.com's offering.

This report from the publisher provides the strategists, marketers and senior management with the critical 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 in the historic period resulted from globalization, outsourcing back-end operations to low-cost economies. Factors that negatively affected growth in the historic 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 the accounting services market? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The global accounting services market opportunities and strategies to 2023 report from the publisher answers all these questions and many more.

This report describes and evaluates the global accounting services market. It covers two five-year periods, 2015 to 2019, termed the historic period, and 2019 through 2023, the forecast period.

Going forward, changes in standards of financial reporting, technological development and regulatory reforms are expected to drive the market. Shortage of skills could hinder the growth of the accounting services market in the future.

The accounting services market is segmented by type of services into payroll services, tax preparation services, and bookkeeping, financial auditing and other accounting services. The bookkeeping, financial auditing and other accounting services was 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 going forward at a CAGR of 6.6%.

North America was the largest region in the accounting services market, 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 2019-2023.

The global database software market is highly fragmented with a large number of small players in the market. The top ten competitors in the market made up to 19.6% of the total market in 2018. Major players in the market include PWC (PricewaterhouseCoopers), Ernst & Young, KPMG, Deloitte, ADP (Automatic Data Processing, Inc.), and others.

The top growth potential in the accounting services market segmented by type of service will arise in the bookkeeping, financial auditing and other accounting services, which will gain $424.2 billion of global annual sales by 2023. The accounting services market will gain the most in the USA at $50.7 billion.

Market-trend-based strategies for the accounting services market include investing in cloud based accounting software, blockchain technology, communication technology, and artificial intelligence and companies should try automating the redundant processes that involve manual labor. Business strategies adopted by major companies in the accounting services market include investing in technology to digitalize the business, expanding in other geographies, integrate and gain competitive advantage and in acquisitions and mergers to strengthen their service offerings.

Key Topics Covered:

1. Accounting Services Market Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction
6.1.1. Segmentation By Geography
6.1.2. Segmentation By Type

7. Accounting Services Market Characteristics
7.1. Market Definition
7.2. Segmentation By Service Type

8. Accounting ServicesMarket,Supply Chain Analysis
8.1.1. Resources
8.1.2. Accounting Services Providers
8.1.3. End-Users

9. Accounting ServicesMarket,Product Analysis -Product/Service Examples

10. Accounting Services Market Customer Information
10.1. Outsourced Accounting Yields Greater Client Satisfaction
10.2. Revenue From Client Accounting Services Is Increasing
10.3. Accounting Services Are Often Outsourced By Small Businesses

11. Accounting Services Market Trends And Strategies
11.1. Cloud-Based Accounting Software To Enhance Efficiency
11.2. Blockchain Technology For Accounting Practices To Enhance Accuracy And Compliance
11.3. Increase In Outsourcing At 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. Historic Market Growth, Value ($ Billion)
12.2.1. Drivers Of The Market 2015-2019
12.2.2. Restraints On The Market 2015-2019
12.3. Forecast Market Growth, Value ($ Billion)
12.3.1. Drivers Of The Market 2019-2023
12.3.2. Restraints On The Market 2019-2023

13. Accounting Services Market, Regional Analysis
13.1. Global Accounting Services Market, 2019, By Region, Value ($ Billion)
13.2. Global Accounting Services Market, 2015 - 2023, Historic 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 Type Of Service, 2015 - 2023, Value ($ Billion)

15. Global Accounting Services Market Comparison with Macro Economic Factors
15.1. Accounting Services Market Size, Percentage Of GDP, Global
15.2. Per Capita Average Accounting Services Market Expenditure, Global

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 Overview
23.2.2. Products And Services
23.2.3. Business Strategy
23.2.4. Financial Overview
23.3. Ernst & Young
23.4. KPMG
23.5. Deloitte
23.6. ADP (Automatic Data Processing, Inc.)

24. Key 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 Background: Professional Services
25.1. Professional Services Market Characteristics
25.1.1. Market Definition
25.1.2. Segmentation Type Of Service
25.1.3. Design, Research, Promotional 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 Type Of Service, 2015 - 2023, Value ($ Billion)
25.3. Global Professional Services Market, 2019, By Region, Value ($ Billion)
25.4. Global Professional Services Market, 2015 - 2023, Historic And Forecast, By Region

26. Recommendations
26.1. Global Accounting Services Market In 2023 - Countries Offering Most New Opportunities
26.2. Global Accounting Services Market In 2023 - Segments Offering Most New Opportunities
26.3. Global Accounting Services Market In 2023 - Growth Strategies
26.3.1. Market Trend Based Strategies
26.3.2. Competitor Strategies

27. Accounting Services Market, Conclusions And Recommendations
27.1. Conclusions
27.2. Recommendations
27.2.1. Product
27.2.2. Place
27.2.3. Price
27.2.4. Promotion

28. Appendix

29. Copyright And Disclaimer

Companies Mentioned

• Accenture
• ADP (Automatic Data Processing, Inc.)
• Alvarez & Marsal
• Baker Tilly
• BDO (Binder Dijker Otte) International Limited
• Champion Accountants
• Charles Ghadban Accounting
• Crowe Horwath
• Deloitte
• DSG Chartered Accountants
• Ernst & Young
• Grant Thornton
• HRBlock
• Italian Accountants Studio Del Gaizo Picchioni
• KML Bookkeeping Services
• KPMG
• Mazars
• Moore Stephens UK
• Pan-China CPA
• Picco Accounting
• PWC (PricewaterhouseCoopers)
• Rodl Partner
• RSM
• Ruihua CPA
• RWT
• Spira Twist & Associates
• Studio International Tornamb
  

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