Accounting Services in the US - Market Research Report (2014-2029)

Accounts payable: Competition is expected to intensify for the industry due to more low-cost alternatives

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

The Accounting Services industry has steadily grown in the past five years, buoyed by economic growth early on in the period and a continued demand for monetary advisory during the financial challenges of the early 2020s. As revenue has expanded, new operators have entered the industry and competition has intensified, especially between smaller companies. To boost market share during the high growth early in the period, the industry's largest players acquired several smaller companies. In the past five years, industry revenue has grown at a CAGR of 1.7% to $144.5 billion, including 0.2% in 2023 alone, when profit margins will grow to 18.0%.

Operators in the Accounting Services industry are certified to audit the accounting records of public and private organizations and to demonstrate compliance to generally accepted accounting practices. Certified public accountants (CPAs) of this industry provide a variety of accounting services, including auditing accounting records, designing accounting systems, preparing financial statements, developing budgets and providing advice on matters related to accounting.