Global Accounting Services - Market Research Report (2014-2029)
New York, United States
Last Updated: May 2024
L6713-GLRevenue
$627.1bn
Past 5-Year Growth
Profit
$XXX.Xbn
Employees
4m
Businesses
1m
Wages
$XXX.Xbn
Global Accounting Services industry analysis
Global accounting companies continue to benefit from high demand across core markets, as the need for quality and efficient accounting services persists. Economic expansion in developed countries and high productivity growth in low-income nations fueled world GDP growth in the years immediately preceding the pandemic. As incomes rose, financial transactions, auditing and mergers and acquisitions increased, boosting demand for accounting services and aiding revenue growth.
Trends and Insights
- Global accounting companies benefited from high world GDP growth, strong equity markets and relatively low market saturation. Nonetheless, the economic effects of the pandemic hurt accountants' performance.
- Consultants give companies specialized knowledge so they can run their businesses more efficiently. Consulting’s revenue share has soared in recent years as corporations have sought more expert advice.
- The Americas make up a big share of global accounting service companies’ revenue compared with their share of the world population. The United States contributes to the industry’s presence in the Western Hemisphere since the country contains some of the world’s largest accounting companies.
- Competition is high among global accounting companies because moderate barriers to entry enable many players to operate effectively. Businesses compete on price, quality of service and reputation.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.5 % over the past five years, to reach an estimated $627.1bn in 2024.
Trends and Insights
Strong world GDP growth boosted demand for accounting services prepandemic
- World GDP growth was high in the years immediately preceding the pandemic because advanced economies experienced an extended economic expansion following the 2008–2009 financial crisis.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Greater internet usage will likely propel accountants' efficiency
- As incomes increase throughout the world’s middle- and lower-income economies, global internet usage will surge – nearly 90.0% of households worldwide will have access to the internet in 2029, compared with less than 75.0% in 2024.
Biggest companies in the Global Accounting Services
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
KPMG International Limited | 37,128.0 | 7,229.6 | 19.5 | |
BDO Global | 13,896.4 | N/A | N/A | |
Grant Thornton International Ltd. | 7,854.5 | N/A | N/A |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Auditing, Tax services and Other accounting services. Auditing is the largest segment of the Global Accounting Services.
Trends and Insights
Auditing provides an unbiased assessment of a company's financial position
- An auditor determines whether a company's financial statements are being presented by management accurately, fairly and reasonably.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Global Management Consultants
Complementors
- Global Commercial Banks
- Global Investment Banking & Brokerage
- Global Life & Health Insurance Carriers
International industries
- Payroll & Bookkeeping Services in the US
- Accounting Services in the US
- Tax Preparation Services in the US
- Forensic Accounting Services in the US
- Payroll & Bookkeeping Services in Canada
Table of Contents
About this industry
Industry definition
Accounting companies worldwide provide accounting services in addition to various other related financial services. These include preparing and auditing financial statements, tax consulting and preparing tax returns, financial and business advisory services, bookkeeping and accounting systems design.
What's included in this industry?
AuditingAccounting servicesTax servicesCompanies
KPMG International LimitedBDO GlobalGrant Thornton International Ltd.Purchase this report to view all 3 major companies in this industry.
Related Terms
AUDITINGMANAGEMENT ACCOUNTINGTAX ACCOUNTINGBIG FOURPerformance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Global accounting companies benefited from high world GDP growth, strong equity markets and relatively low market saturation. Nonetheless, the economic effects of the pandemi...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Consultants give companies specialized knowledge so they can run their businesses more efficiently. Consulting’s revenue share has soared in recent years as corporations have...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Americas make up a big share of global accounting service companies’ revenue compared with their share of the world population. The United States contributes to the indus...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Business Locations Charts
- Share of global output by region in 2024
- Share of population compared to output in each region in 2024
- Data tables
- Share of global output by region in 2024
- Detailed analysis
- Geographic spread of the industry across Global, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Competition is high among global accounting companies because moderate barriers to entry enable many players to operate effectively. Businesses compete on price, quality of s...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Major players Deloitte and PwC both acquired companies to bring their operations to the cloud. In an increasingly globalized world, digitalization of operations is essential ...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of KPMG International Limited's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of BDO Global's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Grant Thornton International Ltd.'s performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for KPMG International Limited, and factors influencing its performance in the industry
- Description and key data for BDO Global, and factors influencing its performance in the industry
- Description and key data for Grant Thornton International Ltd., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Accountants must become certified in most countries before practicing. To be designated a certified public accountant (CPA) in the United States, an individual must pass the ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Wages comprise the biggest share of revenue because accountants are highly skilled workers. Wages have crept downward in the current period because more employees are using p...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources globally include:
- United Nations Comtrade
- Organization for Economic Cooperation & Development
- World Bank
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Global Accounting Services industry in Global in 2024?
The market size of the Global Accounting Services industry in Global is $627.1bn in 2024.
How many businesses are there in the Global Accounting Services industry in 2024?
There are 1m businesses in the Global Accounting Services industry in Global, which has grown at a CAGR of 2.3 % between 2019 and 2024.
Has the Global Accounting Services industry in Global grown or declined over the past 5 years?
The market size of the Global Accounting Services industry in Global has been growing at a CAGR of 2.5 % between 2019 and 2024.
What is the forecast growth of the Global Accounting Services industry in Global over the next 5 years?
Over the next five years, the Global Accounting Services industry in Global is expected to grow.
What are the biggest companies in the Global Accounting Services market in Global?
The biggest companies operating in the Global Accounting Services market in Global are KPMG International Limited, BDO Global and Grant Thornton International Ltd.
What does the Global Accounting Services in Global include?
Auditing and Accounting services are part of the Global Accounting Services industry.
Which companies have the highest market share in the Global Accounting Services in Global?
The company holding the most market share in Global is KPMG International Limited.
How competitive is the Global Accounting Services industry in Global?
The level of competition is high and steady in the Global Accounting Services industry in Global.
