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LONDON, GREATER LONDON, UK, July 5, 2019 /EINPresswire.com/ — The accounting services market is expected to reach a value of nearly $868 billion by 2022, significantly growing at a CAGR of 9.1% during the forecast period. The growth in the accounting services market is due to increased mergers and acquisitions (M&A), technology stocks performance and financial reporting standards transition.
However, the market for accounting services is expected to face certain restraints from several factors such as weak wage growth in developed economies, accounting scandals, inconsistency in service delivery, automation affecting small and medium accounting firm, and reduction in free trade.
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 service involves summarizing, analysing, 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.
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The global accounting services market is further segmented based on type and geography.
By Type – The global accounting services market is further segmented into payroll & bookkeeping services, tax preparation services and other accounting services, among these segments, the payroll & bookkeeping services market accounts for the largest share in the global accounting services market.
By Geography – The global accounting services is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounting services market accounts the largest share in the global accounting services market.
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Trends In The Accounting Services Market
Increase in outsourcing at accounting firms, accounting service companies collaborating with technology companies and digital tax economy evolution are the major trends witnessed in the global accounting services market.
Potential Opportunities In The Accounting Services Market
With emerging markets growth, technology development, regulatory reforms the scope and potential for the global accounting services market is expected to significantly rise in the forecast period.
Major players in the Accounting Services market include PwC, EY, Deloitte, KPMG and BDO International
Accounting Services Global Market Report 2019 is one of a series of new reports from The Business Research Company that provides accounting services market overviews, analyzes and forecasts accounting services market size and growth for the global accounting services market, accounting services market share, accounting services market players, accounting services market size, accounting services market segments and geographies, accounting services market trends, accounting services market drivers and accounting services market restraints, accounting services market’s leading competitors’ revenues, profiles and market shares. The accounting services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Accounting Services Global Market Report 2019 from The Business Research Company for information on the following:
Markets Covered: global accounting services market, payroll & bookkeeping services market, tax preparation services market and other accounting services market
Data Segmentations: accounting services market size, global and by country; historic and forecast size, and growth rates for the world, 7 regions and 12 countries
Accounting Services Market Organizations Covered: PwC, EY, Deloitte, KPMG and BDO International
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Time Series: Five years historic (2014-18) and forecast (2018-22).
Other Information And Analyses: PESTEL analysis, accounting services market customer information, accounting services market product/service analysis – product examples, accounting services market trends and opportunities, drivers and restraints, key mergers and acquisitions, key metrics covered: number of enterprises, number of employees, global accounting services market in 2019 – countries offering most new opportunities
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Accounting Services Industry: The report explains a number of strategies for companies in the accounting services market, based on industry trends and company analysis.
Opportunities For Companies In The Accounting Services Sector: The report reveals where the global accounting services industry will put on most $ sales up to 2022.
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