Market Size of India Accounting Professional Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players_-_Copy.webp)
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Accounting Professional Services Market Analysis
India Accounting Professional Services Market is poised to grow at a CAGR of over 5% during the forecast period.
Accounting services have changed irrevocably after the COVID-19 outbreak is finally over. Accounting has adopted computerized and remote techniques that were seldom commonplace before the epidemic, like many other industries. Due to the epidemic, many more accounting businesses are allowing their employees to work from home. Before the pandemic, the average percentage of employees in the accounting sector who worked from home was roughly 40%; however, during the COVID-19 lockdowns, this number more than doubled to 83%. The fact that many accounting industry workers were already accustomed to working remotely means that neither overall nor individual productivity has decreased as a result of having to work from home.
Additionally, it has made individuals rethink and modify their perceptions of the contemporary accountant. Many accounting companies are increasingly strategic to the whole strategy and direction of a corporation, moving beyond their traditional role as someone who just took care of the company's finances. Many people, including us, have incorporated the Profit First methodology into their core business philosophies. According to certain research, COVID-19 has resulted in a 7 in 10 increase in business for accounting firms.
The measuring, processing, and sharing of financial and non-financial information regarding economic entities like enterprises and corporations are known as accounting, also known as accountancy. Accounting, also known as the "language of business," is used to measure the outcomes of an organization's economic actions. A variety of stakeholders, such as investors, creditors, managers, and regulators, are informed of these results. Accountants are those who practice accounting. Accounting professionals are financial experts who carry out tasks including financial statement maintenance, account auditing, and account analysis. They maintain accounts that belong to people or organizations, both public and private.
For any organization's financial health, an accounting expert plays a critical role. In addition to creating and maintaining financial statements, they are in charge of maintaining and interpreting financial records and giving the appropriate financial planning guidance. They also resolve actual commercial or financial issues.
