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Dublin, Aug. 16, 2024 (GLOBE NEWSWIRE) — The “Finance and Accounting Outsourcing – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Finance and Accounting Outsourcing is estimated at US$49.5 Billion in 2023 and is projected to reach US$75.2 Billion by 2030, growing at a CAGR of 6.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the finance and accounting outsourcing market is driven by several factors, including the increasing complexity of financial regulations and the need for compliance that can be more effectively managed by specialized firms. As global businesses expand, the need for standardized, scalable financial services that can adapt to various regulatory environments becomes critical.
Furthermore, the shift towards digital transformation in finance has prompted companies to seek external expertise to integrate advanced technologies such as AI and blockchain into their financial operations. Consumer behavior also plays a crucial role; as trust in outsourcing providers grows, more businesses are comfortable handing over their financial processes to third parties.
Additionally, the economic pressure to reduce operational costs and improve bottom lines during uncertain economic times continues to push companies towards outsourcing solutions. These drivers ensure sustained growth and evolving service offerings within the global FAO market.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Finance and Accounting Outsourcing Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Finance and Accounting Outsourcing Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Multi-Process F&A BPO segment, which is expected to reach US$26.6 Billion by 2030 with a CAGR of a 7.1%. The Source-to-Pay Outsourcing segment is also set to grow at 6.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $20.5 Billion in 2023, and China, forecasted to grow at an impressive 7.5% CAGR to reach $2.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific..
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as API Outsourcing, Inc., Arvato, Conduent Business Services LLC, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 474 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $49.5 Billion |
| Forecasted Market Value (USD) by 2030 | $75.2 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Finance and Accounting Outsourcing – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- Finance and Accounting Outsourcing: A Brief Prelude
- FAO Adoption (in %) by End-Use Markets: 2023
- Key Benefits of Outsourcing Finance and Accounting Operations
- Financial Savings and Reduction in Overhead Costs
- Access to Vast Talent Pool
- Increasing Working Capital
- Risk Transference to Supplier
- Realizing Business Value
- Helps Companies to Expand and Achieve Business Growth
- Access of Advanced Systems and Technologies
- Improved Accuracy and Processes
- Focus on Integrated Solutions
- Offers Real-Time, Relevant Information
- Proactive Accounting
- Addressing Clients Requirements
- When Should Businesses Opt for Outsourced Finance and Accounting Services
- Key Finance and Accounting Services to Outsource
- Impact of Finance and Accounting on Company’s Valuation
- Market Outlook
- Competition
- Leading Players Across Various FAO Verticals
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Companies Increasingly Move to Disruptive Technologies to Enhance Capabilities
- Automation to Help Players Stay Ahead in Finance & Accounting Outsourcing Game
- Robotic Process Automation Makes Drastic Improvement in Response Times
- AI and ML Seek a Bigger Role in FAO
- Growing Role of IoT in F&A
- Data Analytics Gains Importance as Increasing Number of Enterprises Leverage Data to Meet Business Objectives
- FAO Firms Leverage Blockchain Technology
- Industry Witnesses Rising Adoption of Cloud-based Accounting Software
- Rise in Adoption of Digitization Drives in F& A Industry
- CFOs Seek Digital Finance & Accounting Providers to Re-Imagine Finance Operations
- Social Media Networking Trend Transforms Business Strategies
- Advisory Services Record Strong Growth
- Multi-Source Approach Gathers Steam
- Offshore Staffing for Remote Working : The New Norm
- Businesses Pay Heavy Attention on New Strategies
- Increasing Number of Retiring Accountants and a Tight Accounting Market Drive Companies Turn to Outsourcing
- Rise in new Rules and Regulations, Income Tax Changes Drive Demand
- Increased Focus on Data Security Drive Companies to Turn to FAOs
- F&A Outsourcing Offers Improved Businesses Value
- Big Data Remains in Contention to Streamline Operations
- Rise in Adoption of Accounting Software
- Small and Midsize Businesses Make a Headeway
- Emergence of Business Process Utility
- Millennials Emerge as a Lucrative Market
- Brexit Requirements to Increase Business for Accounting Outsourcing Firms
- Industry Witnesses Increased investments in Onshore and Nearshore Capabilities
FOCUS ON SELECT PLAYERS(Total 142 Featured)
- API Outsourcing, Inc.
- Arvato
- Conduent Business Services LLC
- Datamatics Business Solutions Ltd.
- Bickham
- A. N. Bhutada & Co.
- AcoBloom International
- Afford Bond
- BPO
- DHpayroll
- Consero Global LLC
- Ascent Multifamily Accounting
- 3MT Consulting
- BeFree
- Accru Felsers Chartered Accountants + Business Advisors
For more information about this report visit https://www.researchandmarkets.com/r/29jmkx
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Global Finance and Accounting Outsourcing Market