Global Accountancy Market Expected to grow at a CAGR of 3.8% in 2016

Published on : Nov 25, 2016

Albany, New York, November 25, 2016: Market Research Hub has recently added a new report to its database, titled “Accountancy Global Industry Guide-2016”. The report delivers qualitative and quantitative summary information along with market size and segmentation data, textual and graphical analysis of market growth trends during the forecast period of 2016 to 2021. It acts as an essential source for top-line data and analysis covering the global accountancy market.

The first section of the report focuses on professional and financial services in several key regions. Geographically, the market is segmented in areas including United States, U.K., Asia Pacific, Europe, France, Germany and Japan. This report looks in-depth at the longer term trends in the accountancy market and also uses the five forces analysis to determine competitive intensity and attractiveness of the global market. The global accountancy market is expected to generate total revenues of $447.4bn in 2016 and also represents a compound annual growth rate (CAGR) of 3.8% between 2012 and 2016. With the five year forecasts, the report presents the future growth prospects in this market.

According to the report findings, accountancy market consists of revenues generated by firms engaged in designing, preparing and auditing accounting records. In 2015, there were 1.23 million accountants and auditors along with 1.58 million bookkeeping, accounting and auditing clerks employed in the U.S. Due to this, the number of accountants/auditors and their administrative staff was forecasted to upsurge the market size by 2022. The audit segment is expected to be the markets most profitable segment in 2016 with total revenues of $196.4bn i.e. equivalent to 43.9% of the market's overall value. Income from tax, audit and the provision of advisory services is also included in the report.

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Some of the largest firms in the industry offer management consultancy services, which have become increasingly common and lucrative in the current market and marked as a key growth area by many firms. The largest four accountancy firms in the UK such as PwC, Deloitte, KPMG and EY are collectively known as the Big Four. This is a terminology that will appear throughout this report. Deloitte, Ernst & Young, KPMG and PwC are the leading players with great influence, particularly at the upper end of the market. The guide also contains descriptions of the above leading players including its key financial metrics and analysis of competitive weights within the global market.

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