Accounting Services Market 2022 – Opportunities And Strategies – Global Forecast To 2031

The Business Research Company’s Accounting Services Market 2022 – Opportunities And Strategies – Global Forecast To 2031

LONDON, GREATER LONDON, UK, October 24, 2022 /EINPresswire.com/ -- Major firms in the accounting services market are rapidly moving towards the process of digitalization, following the emergence of information communication and technology. Investor expectations, rising competition, new regulatory pressures, and increasing opportunities are putting organizations under pressure to digitalize their processes and management. Accounting services firms are investing in various technologies, such as machine learning, mobility, cloud computing, performance tracking, and artificial intelligence, to streamline the process, reduce operational costs, and increase efficiency. With machine learning and cloud computing, companies are digitalizing data, records, client history, briefings, reports, testimony, and other information that enables them to quickly find relevant information. For instance, according to a report by Ernst & Young, the key point was that a mere 16% of consumers across Europe expect the way they bank to change over the long term because of COVID-19. There is a generational gap too. The over 55s are the least likely group to have changed the way they bank, with only 17% expecting to bank more online in the next 1-2 years, while 28% of under 35s do.

The global accounting services market size is expected to grow from $0.59 trillion in 2021 to $1.01 trillion in 2026 at a rate of 11.4%. The global accounting services market share is then expected to grow at a CAGR of 11.5% from 2026 and reach $1.74 trillion in 2031.

Read more on the Global Accounting Services Market Report
https://www.thebusinessresearchcompany.com/report/accounting-services-market

The use of advanced technologies such as artificial intelligence to analyze and quickly identify irregularities in data is expected to drive the growth of the accounting services market in the forecast period. Auditors use artificial intelligence to spot suspicious activities or inaccuracies in accounting entries and transactions. Artificial intelligence uses rules created by humans to reason through issues and reach conclusions by identifying patterns from the huge data sets available. Artificial intelligence tools can be adjusted to figure out how accounting entries are being used to cover up irregularities like incorrect revenue recognition or deferred liabilities by businesses.

Major players covered in the global accounting services industry are PwC, Ernst & Young, Deloitte Touche Tohmatsu Limited, KPMG, ADP (Automatic Data Processing, Inc).

TBRC’s accounting services market report is segmented by type into payroll services, tax preparation services, bookkeeping, financial auditing and other accounting services, by service provider into large enterprise, small and medium enterprise, by end-user into IT services, manufacturing, financial services, construction, others.

Accounting Services Market 2022 – By Type (Payroll Services, Tax Preparation Services, Bookkeeping, Financial Auditing And Other Accounting Services), By End Use Industry (IT Services, Manufacturing, Financial Services, Construction), By Service Provider (Large Enterprise, Small And Medium Enterprise), And By Region, Opportunities And Strategies – Global Forecast To 2031 is one of a series of new reports from The Business Research Company that provides a accounting services market overview, forecast accounting services market size and growth for the whole market, accounting services market segments, geographies, accounting services market trends, accounting services market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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