Insights on the Finance and Accounting Outsourcing Global Market to 2026 - Featuring Accenture, Capgemini and Genpact Among Others - ResearchAndMarkets.com
The "Finance and Accounting Outsourcing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Finance and Accounting Outsourcing estimated at US$37.9 Billion in the year 2020, is projected to reach a revised size of US$53.4 Billion by 2026, growing at a CAGR of 5.9% over the analysis period.
Global Finance and Accounting Outsourcing Market to Reach US$53.4 Billion by the Year 2026
Accounting outsourcing service constitutes a critical function in the overall finance and accounting market. The global economic crisis is expected to foster the demand for F&A BPO activities, as the service needs less customization when the process and technology are outsourced (in comparison to customer care and HR BPO). Growing demand for transparency and increased regulations are driving companies to standardize their F&A (Finance and Accounting) BPO activities. The move towards standardization is also driving the incorporation of best practices in financial management, which is major driving factor for the adoption of F&A BPO services.
The regulated nature of numerous F&A standards allows BPO service providers to deploy a common platform for various customers, thereby reducing customization, improving margins, and allowing customers to capitalize on the economies of scale. Number of new companies starting to use accounting outsourcing each year has been constantly increasing while the service contracts of older clients have also been extending for outsourcing companies. Going forward, outsourcing service providers would increasingly harness advanced technologies like machine automation and artificial intelligence for speeding up tasks and increasing productivity for clients. The finance and accounting outsourcing domain is witnessing a pressing need for providers to migrate from archaic pricing models towards automation initiatives to stay relevant and ensure renewal of service contracts.
The U.S. Market is Estimated at $18.3 Billion in 2021, While China is Forecast to Reach $2 Billion by 2026
The Finance and Accounting Outsourcing market in the U.S. is estimated at US$18.3 Billion in the year 201. The country currently accounts for a 45.7% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2 Billion in the year 2026 trailing a CAGR of 7.6% through the analysis period.
Select Competitors (Total 142 Featured):
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
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