What is Financial Accounting Consultancy Service Market?
Financial accounting consultancy services help companies to analyze financial statements, tax-related consulting, merger & acquisition, auditing, financial forecasting, etc. to determine the profitability of the business. Demand for audit and taxes related consulting has been increasing rapidly as every business needs to do if the economy is growing or in a recession. The main growth driver of accounting consulting services is globalization and the increasingly dynamic environment.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Harshwal & Company LLP (United States), EY (United Kingdom), Deloitte (United Kingdom), KPMG (Netherlands), PricewaterhouseCoopers (United Kingdom), Accenture (Ireland), Grant Thornton LLP (United States), Baker Tilly US, LLP (United States), Crowe LLP (United Sates), RSM International (United Kingdom), McKinsey & Company (United States), FTI Consulting (United States), Moss Adams (United States), BDO Global (Belgium), Moore Stephens International Limited (United Kingdom), PKF International (United Kingdom) and Mazars (France) |
The market study is being classified by Type (Strategic Planning, Capital Markets, Tax Advisory, Financial Analysis, Audit & assurance, Technical Accounting and Others) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States and European Players will contribute to the maximum growth of Global Financial Accounting Consultancy Service market throughout the forecasted period.
Harshwal & Company LLP (United States), EY (United Kingdom), Deloitte (United Kingdom), KPMG (Netherlands), PricewaterhouseCoopers (United Kingdom), Accenture (Ireland), Grant Thornton LLP (United States), Baker Tilly US, LLP (United States), Crowe LLP (United Sates), RSM International (United Kingdom), McKinsey & Company (United States), FTI Consulting (United States), Moss Adams (United States), BDO Global (Belgium), Moore Stephens International Limited (United Kingdom), PKF International (United Kingdom) and Mazars (France) are some of the key players profiled in the study. Segment Analysis
Analyst at AMA have segmented the market study of Global Financial Accounting Consultancy Service market by Type, Application and Region.
On the basis of geography, the market of Financial Accounting Consultancy Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Need for External Consulting Services by Small and Medium-sized Businesses Due to Globalization and Increasing Dynamic Environment
- Increasing Demand for Consulting Services for Financial Analysis, Reporting, and Valuations in the Insurance Sector
Market Trend
- Use of Technologically Advanced Solutions by the Consultants to Improve Customer Experience Provide Online Services to Their Clients
Restraints
- Consultancy Service Providers are Facing Issues Such as Inadequate Skilled Staff and Client Retention
Opportunities
- High Adoption of Audit & Assurance and Tax-Related Consulting Services by Businesses or Enterprises Across ASEAN Countries
- Large Enterprises are Seeking Advisory and Consultancy Regarding Merger & Acquisition Activity for the Expansion and Growth of Business
Challenges
- Presence of a Large Number of Global Players in the Market Can Increase Competition and Create Challenges for New Entrance
Market Leaders and some development strategies
In November 2021, Baker Tilly, the US-based public accounting and consulting firm announced the acquisition of an accounting and advisory firm, The MFA Companies. MFA is serving clients across the Boston metro area. With this acquisition, Baker Tilly will be able to a wide range of business to offer strategic, financial and business consulting across the United States and globally.
In May 2022, RSM International, a leading audit, tax, accounting, and consulting firm announced the merger with Pemom to strengthen its footprint and accelerate growth in Latin America. With this merger, RSM is enable to serve clients with its enhanced offering in the region and internationally.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Financial Accounting Consultancy Service Providers, Venture Capitalists and Private Equity Firms, End-Users Industries and Others