APAC And MEA Finance And Accounting Managed Services Industry Market Growth Accelerated by Rise in Outsourcing
/';[-0``Finance and accounting managed services offer various benefits such as improved accuracy, lower costs, scalability, optimized compliance control and round the clock service availability. These services help organizations focus on their core business activities by outsourcing finance and accounting functions.
The global APAC and MEA Finance and Accounting Managed Services Industry Market is estimated to be valued at US$ 1328.41 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
There has been a significant rise in outsourcing of these services as organizations aim to reduce costs and improve efficiency. This allows businesses to focus on their core operations while experts handle finance processes. As regulatory compliances increase, managed service providers help organizations adhere to various requirements through specialized resources and expertise. Their ability to scale operations according to business needs provides agility to businesses. This rising preference for outsourcing services among organizations will continue fueling market growth over the forecast period.
Segment Analysis
The APAC and MEA Finance and Accounting Managed Services Industry Market is dominated by accounting managed services segment. This is because many organizations prefer outsourcing routine accounting tasks like accounts payable and accounts receivable to managed service providers. These service providers leverage advanced technological solutions and skilled accounting professionals to deliver tasks more efficiently at lower costs compared to in-house resources. Key activities outsourced include general bookkeeping, financial statements preparation, payroll management and compliance. The accounting managed services segment is expected to continue dominating the market during the forecast period due to growing preference among organizations to focus on core business functions.
Key Takeaways
The Global APAC And MEA Finance And Accounting Managed Services Industry Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market in APAC region is expected to grow at the fastest rate led by countries like China and India. This is owing to rapid economic expansion, increasing digitalization, and growing adoption of cloud-based finance and accounting services in the region.
Regional analysis: The APAC region dominates the market currently and is expected to continue its lead over the forecast period. Developing economies like China, India are driving exponential market growth in the region. Rapid digital transformation initiatives by businesses and governments are fueling adoption of managed finance and accounting services. Further, preference for outsourcing non-core operations to specialist service providers is high. This coupled with large talent pools and competitive pricing is attracting global managed service providers to expand in APAC markets.
Key players operating in the APAC and MEA Finance and Accounting Managed Services Industry Market include GuardRFID Solutions Inc., ALE International (Nokia Corporation), and Favendo Gmbh. These players are focusing on geographic expansions and partnerships with local players to leverage growth opportunities in fast expanding APAC and MEA regions.
For more Insights, Read –
https://www.newswirestats.com/apac-and-mea-finance-and-accounting-managed-services-industry-market-market-size-and-share-analysis/
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