The revenue generated by accounting services in the United States reached ***** billion U.S. dollars in 2025, up from roughly ****** billion U.S. dollars in 2024. The revenue generated by this service was the highest it had ever been in ****.

This statistic shows the revenue of the industry “accounting, tax preparation, bookkeeping, and payroll services“ in the U.S. by segment from 2012 to 2017, with a forecast to 2024. It is projected that the revenue of accounting, tax preparation, bookkeeping, and payroll services in the U.S. will amount to approximately 203,8 billion U.S. Dollars by 2024.

This statistic shows the revenue of the industry “accounting, tax preparation, bookkeeping, and payroll services“ in New York by segment from 2012 to 2017, with a forecast to 2024. It is projected that the revenue of accounting, tax preparation, bookkeeping, and payroll services in New York will amount to approximately 20,4 billion U.S. Dollars by 2024.

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. Business activity fell during the pandemic because corporations were forced to temporarily shut down and operations were affected for a prolonged period of time. Since corporate incomes were lower, fewer companies had the money to pay for accounting services, so industry revenue fell in 2020. Stock prices have soared amid the pandemic recovery, raising capital market activities. Companies pay accounting firms to help them with these activities, so revenue has surged in recent years as the world economy continues to recover. Overall, revenue for Global Accounting Services rose at a projected CAGR of 2.5% to an estimated $627.1 billion over the last five years, including an estimated 1.6% rise in 2024 alone. Profit, measured as earnings before interest and taxes, remained steady during these years. Moving forward, accountants are expected to continue to perform well during the outlook period. With increasing global internet usage, more accounting companies worldwide will replace physical bookkeeping with software-based spreadsheets and cloud computing, increasing efficiency and encouraging long-term revenue growth. As globalization becomes even more widespread, living standards in developing countries will advance, boosting business activity and demand for accounting services. Innovations in data analytics and process automation will enable accounting companies to process financial transactions more quickly, while artificial intelligence will be used to enhance cybersecurity. Nonetheless, the continued uncertainty in global equity markets surrounding inflation and interest rates will curtail any larger rate of growth. Overall, revenue for global accounting companies is expected to rise at a CAGR of 2.1% to an estimated $695.4 billion over the next five years.

Europe Forensic Accounting market USD 5264.55 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031. Stringent compliance requirements and heightened focus on financial transparency is expected to aid the sales to USD 8002.9million by 2031

This statistic shows the revenue of the industry “accounting, tax preparation, bookkeeping, and payroll services“ in Texas by segment from 2012 to 2017, with a forecast to 2024. It is projected that the revenue of accounting, tax preparation, bookkeeping, and payroll services in Texas will amount to approximately 14.100,2 million U.S. Dollars by 2024.

Europe’s Accounting and Auditing industry is well-established, with leading nations like the UK and Germany generating significant revenue, partly because London and Frankfurt are major global financial hubs. Growing enterprise numbers and employment rates have expanded the potential client pool for accounting and auditing firms. Despite the industry providing both procyclical and countercyclical services, volatile economic conditions have caused some operational disruption, though revenue has remained fairly resilient. Revenue is expected to inch upward at a compound annual rate of 0.4% over the five years through 2025 to €235 billion, including a forecast hike of 0.6% in 2025. Audit failings and poor service quality have led to enhanced regulations – most notably the introduction of the EU Audit Reform in 2016, aimed at enhancing standards and promoting competition. The reform forces large companies to change auditors every 20 years, diversifying the market by pushing more companies to use firms other than the Big Four. The industry has also come up against challenges from economic headwinds, including the COVID-19 pandemic, inflationary pressures and geopolitical tensions, which have sustained economic uncertainty and subdued business spending and deal-making activity. The industry has been subject to intense consolidation activity, particularly in the UK, where private equity influx has driven acquisitions. Strong competition and higher operational costs have forced firms to raise fees to protect revenue and profitability. Improving economic conditions will bolster business sentiment and investment and drive up M&A activity, fuelling demand for accounting, audit and tax consulting services. Revenue is forecast to expand at a compound annual rate of 4.4% over the five years through 2030 to €291.8 billion. Heightened business investment and M&A activity amid anticipated improvement in economic conditions, alongside a rising number of enterprises in Europe and solid employment rates, will fuel demand for accounting, audit and tax consulting services. Companies will also have to navigate mounting digitalisation, with AI and automated solutions helping to reduce costs and free up time for the provision of value-added services, but at the same time, advanced software enabling small businesses and individuals to carry out their own accounting and tax tasks, eating away at demand. The evolving regulatory environment for businesses, including sustainability reporting and tax reforms, will boost demand and create strong revenue stream opportunities for auditing and tax consulting firms. These specialised services also stand to support profit as more complex audits and regulations will drive firms to hike their fees.

According to Cognitive Market Research, the global Artificial Intelligence in Accounting market size is USD 1.52 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 33.45% from 2024 to 2031. Market Dynamics of Artificial Intelligence in Accounting Market

Key Drivers for Artificial Intelligence in Accounting Market

Increasing Demand for Automation and Efficiency to Increase the Demand Globally - One key driver in the Artificial Intelligence in Accounting market is the continuous advancements in projection technology. As technology evolves, manufacturers are able to develop Artificial Intelligence in Accounting with higher resolution, brighter displays, and enhanced connectivity options. These advancements make Artificial Intelligence in Accounting more versatile and capable of meeting the evolving needs of consumers, whether for business presentations, educational purposes, or entertainment on the go. Natural Language Processing (NLP)

Key Restraints for Artificial Intelligence in Accounting Market

Data Privacy and Security Concerns Cost of Application Introduction of the Artificial Intelligence in Accounting Market

The artificial intelligence in accounting market has witnessed rapid growth, revolutionizing traditional accounting processes. AI technologies streamline tasks such as data entry, reconciliation, and financial analysis, enhancing accuracy and efficiency. With AI-powered tools becoming integral to modern accounting practices, businesses are poised to leverage these advancements for improved decision-making and operational excellence. One of the key drivers propelling the growth of Artificial Intelligence in the Accounting market is the increasing demand for automation and efficiency in financial processes. Businesses across industries are embracing AI technologies to streamline accounting tasks, reduce manual errors, and enhance productivity. The scalability and adaptability of AI solutions enable organizations to handle growing volumes of financial data while maintaining accuracy and compliance.

Graph and download economic data for Total Revenue for Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Establishments Subject to Federal Income Tax (REV5412TAXABL157QSA) from Q1 2004 to Q1 2025 about accounting, revenue, payrolls, establishments, tax, federal, income, rate, and USA.

Asia Pacific Forensic Accounting market USD 4036.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.00% from 2024 to 2031. Rapid economic growth and rising incidences of financial crimeis expected to aid the sales to USD 7213.8 million by 2031

North America Forensic Accounting market size will be USD 7019.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031. North America has emerged as a prominent participant, and its sales revenue is estimated to reach USD 10877.1 Million by 2031. This growth is mainly attributed to the Increased regulatory scrutiny and complex financial fraud cases.

The industry offers a wide range of services to companies in all sectors of the economy, including audit, assurance, tax and compliance. Its total turnover has grown by an average of 0.9% annually since 2019, with the sector benefiting from the expansion of corporate investment and extensive M&A activities. The entry of new companies into the industry has intensified internal competition. In order to increase their market share, the largest auditing firms (audit firms) have increasingly acquired smaller companies and expanded their offering with additional consulting services through strategic acquisitions. In 2024, industry turnover is expected to increase by 0.7% to 45.1 billion euros.In the last five years, the major auditing firms have increasingly expanded their range of services to include advisory services. These additional services include, in particular, the assessment of regulatory risks and financial uncertainties. Digitalisation and the use of big data analyses play an important role in increasing efficiency and reducing errors. However, it is primarily large companies that benefit from these technological developments, while smaller companies suffer a competitive disadvantage as a result. In response to the Wirecard scandal and the associated loss of trust, regulation for auditors was tightened in order to improve balance sheet control and achieve a greater separation between auditing and consulting business.In the next five years, industry revenues are expected to increase at an average annual rate of 0.6%, reaching 46.6 billion euros in 2029. IBISWorld expects the industry to develop positively due to increasing private investment, rising corporate numbers and higher activity in the financial markets, including an increase in M&A activity. The increasingly stringent regulations on sustainability reporting should also have a positive impact on the development of the industry. The larger audit firms will continue to expand their consulting business against the backdrop of higher expected profit margins, while many small and medium-sized enterprises (SMEs) will tend to offer more niche services. Although competition is likely to increase, especially in the consumer segment, due to low-cost online alternatives for accounting or tax preparation, this should not significantly hamper growth in the sector.

According to Cognitive Market Research, the global Forensic Accounting market size will be USD 17548.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 7019.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 5264.55 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 4036.16 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.00% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 876.43 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 350.97 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The Solution/Platform held the highest Forensic Accounting market revenue share in 2024.

Market Dynamics of Forensic Accounting Market

Key Drivers for Forensic Accounting Market

Increase in Financial Fraud to Increase the Demand Globally

The growth in monetary crimes inclusive of embezzlement, fraud, and money laundering, has significantly heightened the want for forensic accountants. As monetary fraud turns into greater state-of-the-art, corporations, and governments are increasingly relying on forensic accountants to analyze and save you these illicit sports. Forensic accountants employ specialized strategies to discover financial discrepancies, trace illicit transactions, and offer expert testimony in legal court cases. Their function is critical in maintaining economic integrity and protective property. This surge in calls displays the developing complexity of economic crimes and the need for skilled experts to ensure transparency and duty in financial practices. As monetary structures evolve, the expertise of forensic accountants becomes ever greater essential.

Complex Regulatory Environment to Propel Market Growth

The complexity of these days's regulatory environment underscores the critical want for forensic accounting knowledge. With policies constantly changing and turning into greater stringent, businesses need to navigate a labyrinth of compliance requirements to keep away from prison pitfalls and mitigate risks. Forensic accountants play an essential role in this landscape with the aid of ensuring adherence to regulatory standards, accomplishing thorough audits, and identifying capability regions of non-compliance. Their information allows organizations to put in force sturdy inner controls and cope with discrepancies before they expand into large problems. As regulatory frameworks evolve, forensic accountants are vital in imparting steering, dealing with compliance dangers, and safeguarding against ability legal and economic repercussions. Their abilities are crucial for keeping transparency and operational integrity in a dynamic regulatory global.

Restraint Factor for the Forensic Accounting Market

Economic Downturns to Limit the Sales

Economic downturns often result in a decreased call for forensic accounting offerings as businesses are aware of cost-reducing measures to navigate financial challenges. During recessions, corporations may additionally postpone or limit spending on non-important offerings, consisting of forensic accounting, in spite of its vital role in keeping financial integrity. As organizations face tighter budgets, they could prioritize operational efficiencies and on-the-spot survival techniques over preventive measures and audits. However, economic downturns can also discover hidden economic issues, doubtlessly growing the need for forensic accountants to deal with rising fraud or compliance worries. Balancing value manipulation with the necessity for rigorous financial oversight will become a critical challenge at some stage in such intervals, highlighting the fluctuating nature of demand for forensic accounting services in varying economic climates.

Impact of Covid-19 on the Forensic Accounting Market

The COVID-19 pandemic had a mixed effect on the forensic accounting marketplace. Init...

With over 140,000 professionals employed in 2024, Deloitte represented the largest accounting firm in the United States in terms of staff. In the same year, Ernst & Young (EY) came second in the list of accounting firms with the most professionals, where they employed less than half of the number of that of Deloitte. Accounting industry in the U.S. The accounting industry in the United States has proven itself to be a highly profitable industry. The revenue of accounting services in the United States has grown annually since 2013 and has shown no signs of slowing down. The average annual expenditure on accounting fees per consumer unit in the United States has also increased significantly since 2020, and reached over the 100 U.S. dollar mark for the first time in 2022. The Big Four The Big Four have continued to dominate the global market when it comes to accounting. The revenue of Deloitte, for example, reached over 67 billion U.S. dollars at the last count. As the influence of these firms have grown, they have become involved in some policymaking decisions in various countries across the globe. The outsourcing of public services by the UK government, for instance, has become a contentious issue over the last few years. This is due to hugely lucrative contracts being awarded to the Big Four and other consulting firms in the UK by the government.

Europe’s Accounting and Auditing industry is well-established, with leading nations like the UK and Germany generating significant revenue, partly because London and Frankfurt are major global financial hubs. Growing enterprise numbers and employment rates have expanded the potential client pool for accounting and auditing firms. Despite the industry providing both procyclical and countercyclical services, volatile economic conditions have caused some operational disruption, though revenue has remained fairly resilient. Revenue is expected to inch upward at a compound annual rate of 0.4% over the five years through 2025 to €235 billion, including a forecast hike of 0.6% in 2025. Audit failings and poor service quality have led to enhanced regulations – most notably the introduction of the EU Audit Reform in 2016, aimed at enhancing standards and promoting competition. The reform forces large companies to change auditors every 20 years, diversifying the market by pushing more companies to use firms other than the Big Four. The industry has also come up against challenges from economic headwinds, including the COVID-19 pandemic, inflationary pressures and geopolitical tensions, which have sustained economic uncertainty and subdued business spending and deal-making activity. The industry has been subject to intense consolidation activity, particularly in the UK, where private equity influx has driven acquisitions. Strong competition and higher operational costs have forced firms to raise fees to protect revenue and profitability. Improving economic conditions will bolster business sentiment and investment and drive up M&A activity, fuelling demand for accounting, audit and tax consulting services. Revenue is forecast to expand at a compound annual rate of 4.4% over the five years through 2030 to €291.8 billion. Heightened business investment and M&A activity amid anticipated improvement in economic conditions, alongside a rising number of enterprises in Europe and solid employment rates, will fuel demand for accounting, audit and tax consulting services. Companies will also have to navigate mounting digitalisation, with AI and automated solutions helping to reduce costs and free up time for the provision of value-added services, but at the same time, advanced software enabling small businesses and individuals to carry out their own accounting and tax tasks, eating away at demand. The evolving regulatory environment for businesses, including sustainability reporting and tax reforms, will boost demand and create strong revenue stream opportunities for auditing and tax consulting firms. These specialised services also stand to support profit as more complex audits and regulations will drive firms to hike their fees.

Europe’s Accounting and Auditing industry is well-established, with leading nations like the UK and Germany generating significant revenue, partly because London and Frankfurt are major global financial hubs. Growing enterprise numbers and employment rates have expanded the potential client pool for accounting and auditing firms. Despite the industry providing both procyclical and countercyclical services, volatile economic conditions have caused some operational disruption, though revenue has remained fairly resilient. Revenue is expected to inch upward at a compound annual rate of 0.4% over the five years through 2025 to €235 billion, including a forecast hike of 0.6% in 2025. Audit failings and poor service quality have led to enhanced regulations – most notably the introduction of the EU Audit Reform in 2016, aimed at enhancing standards and promoting competition. The reform forces large companies to change auditors every 20 years, diversifying the market by pushing more companies to use firms other than the Big Four. The industry has also come up against challenges from economic headwinds, including the COVID-19 pandemic, inflationary pressures and geopolitical tensions, which have sustained economic uncertainty and subdued business spending and deal-making activity. The industry has been subject to intense consolidation activity, particularly in the UK, where private equity influx has driven acquisitions. Strong competition and higher operational costs have forced firms to raise fees to protect revenue and profitability. Improving economic conditions will bolster business sentiment and investment and drive up M&A activity, fuelling demand for accounting, audit and tax consulting services. Revenue is forecast to expand at a compound annual rate of 4.4% over the five years through 2030 to €291.8 billion. Heightened business investment and M&A activity amid anticipated improvement in economic conditions, alongside a rising number of enterprises in Europe and solid employment rates, will fuel demand for accounting, audit and tax consulting services. Companies will also have to navigate mounting digitalisation, with AI and automated solutions helping to reduce costs and free up time for the provision of value-added services, but at the same time, advanced software enabling small businesses and individuals to carry out their own accounting and tax tasks, eating away at demand. The evolving regulatory environment for businesses, including sustainability reporting and tax reforms, will boost demand and create strong revenue stream opportunities for auditing and tax consulting firms. These specialised services also stand to support profit as more complex audits and regulations will drive firms to hike their fees.

Europe’s Accounting and Auditing industry is well-established, with leading nations like the UK and Germany generating significant revenue, partly because London and Frankfurt are major global financial hubs. Growing enterprise numbers and employment rates have expanded the potential client pool for accounting and auditing firms. Despite the industry providing both procyclical and countercyclical services, volatile economic conditions have caused some operational disruption, though revenue has remained fairly resilient. Revenue is expected to inch upward at a compound annual rate of 0.4% over the five years through 2025 to €235 billion, including a forecast hike of 0.6% in 2025. Audit failings and poor service quality have led to enhanced regulations – most notably the introduction of the EU Audit Reform in 2016, aimed at enhancing standards and promoting competition. The reform forces large companies to change auditors every 20 years, diversifying the market by pushing more companies to use firms other than the Big Four. The industry has also come up against challenges from economic headwinds, including the COVID-19 pandemic, inflationary pressures and geopolitical tensions, which have sustained economic uncertainty and subdued business spending and deal-making activity. The industry has been subject to intense consolidation activity, particularly in the UK, where private equity influx has driven acquisitions. Strong competition and higher operational costs have forced firms to raise fees to protect revenue and profitability. Improving economic conditions will bolster business sentiment and investment and drive up M&A activity, fuelling demand for accounting, audit and tax consulting services. Revenue is forecast to expand at a compound annual rate of 4.4% over the five years through 2030 to €291.8 billion. Heightened business investment and M&A activity amid anticipated improvement in economic conditions, alongside a rising number of enterprises in Europe and solid employment rates, will fuel demand for accounting, audit and tax consulting services. Companies will also have to navigate mounting digitalisation, with AI and automated solutions helping to reduce costs and free up time for the provision of value-added services, but at the same time, advanced software enabling small businesses and individuals to carry out their own accounting and tax tasks, eating away at demand. The evolving regulatory environment for businesses, including sustainability reporting and tax reforms, will boost demand and create strong revenue stream opportunities for auditing and tax consulting firms. These specialised services also stand to support profit as more complex audits and regulations will drive firms to hike their fees.

This statistic shows the revenue of the industry “legal and accounting activities“ in Vietnam from 2012 to 2018, with a forecast to 2024. It is projected that the revenue of legal and accounting activities in Vietnam will amount to approximately 979,6 million U.S. Dollars by 2024.

Europe’s Accounting and Auditing industry is well-established, with leading nations like the UK and Germany generating significant revenue, partly because London and Frankfurt are major global financial hubs. Growing enterprise numbers and employment rates have expanded the potential client pool for accounting and auditing firms. Despite the industry providing both procyclical and countercyclical services, volatile economic conditions have caused some operational disruption, though revenue has remained fairly resilient. Revenue is expected to inch upward at a compound annual rate of 0.4% over the five years through 2025 to €235 billion, including a forecast hike of 0.6% in 2025. Audit failings and poor service quality have led to enhanced regulations – most notably the introduction of the EU Audit Reform in 2016, aimed at enhancing standards and promoting competition. The reform forces large companies to change auditors every 20 years, diversifying the market by pushing more companies to use firms other than the Big Four. The industry has also come up against challenges from economic headwinds, including the COVID-19 pandemic, inflationary pressures and geopolitical tensions, which have sustained economic uncertainty and subdued business spending and deal-making activity. The industry has been subject to intense consolidation activity, particularly in the UK, where private equity influx has driven acquisitions. Strong competition and higher operational costs have forced firms to raise fees to protect revenue and profitability. Improving economic conditions will bolster business sentiment and investment and drive up M&A activity, fuelling demand for accounting, audit and tax consulting services. Revenue is forecast to expand at a compound annual rate of 4.4% over the five years through 2030 to €291.8 billion. Heightened business investment and M&A activity amid anticipated improvement in economic conditions, alongside a rising number of enterprises in Europe and solid employment rates, will fuel demand for accounting, audit and tax consulting services. Companies will also have to navigate mounting digitalisation, with AI and automated solutions helping to reduce costs and free up time for the provision of value-added services, but at the same time, advanced software enabling small businesses and individuals to carry out their own accounting and tax tasks, eating away at demand. The evolving regulatory environment for businesses, including sustainability reporting and tax reforms, will boost demand and create strong revenue stream opportunities for auditing and tax consulting firms. These specialised services also stand to support profit as more complex audits and regulations will drive firms to hike their fees.

In 2024, Deloitte was the leading accounting firm in the United States, with consulting revenue of around 18 billion U.S. dollars from consulting services. The so-called Big Four continued to lead the industry by some way.