The APAC and MEA finance and accounting managed services industry offers a variety of accounting, bookkeeping, payroll processing, and financial reporting services to various enterprises. These services help businesses reduce accounting related costs and ensure compliance with financial regulations. By outsourcing finance and accounting tasks to specialized service providers, companies can focus on their core operations while gaining access to advanced tools, skilled workforce, and global process standardization.
The global APAC and MEA Finance and Accounting Managed Services Market is estimated to be valued at US$ 1153.13 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased outsourcing of accounting and finance functions is driving growth of the APAC and MEA finance and accounting managed services market. Various enterprises, especially small and medium businesses, are increasingly outsourcing accounting workloads such as accounts payable/receivable, financial reporting, audit and assurance, tax filing and compliance to managed service providers. This allows companies to reduce costs, access advanced tools and skilled accountants, ensure consistency and compliance, and focus on their core business operations. Managed service providers also offer scalable services that can adapt to the changing needs of businesses.
SWOT Analysis
Strength: The APAC and MEA finance and accounting managed services industry benefits from robust economic growth in emerging countries of the region. This leads to increased demand for outsourced financial services.
Weakness: Data privacy and security concerns remain major challenges due to the sensitive nature of financial information being handled. Staff retention is also an issue due to high talent mobility in some markets.
Opportunity: The growing digital transformation adoption across industries provides opportunity for finance and accounting managed services players to offer enhanced digital solutions. Rising complexity of financial operations also drives need for managed services.
Threats: Economic uncertainties and geopolitical tensions in the region pose threat to steady growth opportunities. Increased competition from localized and global players intensifies pricing pressures.
Key Takeaways
The Global APAC and MEA Finance and Accounting Managed Services Industry Market Size is expected to witness high growth driven by rising outsourcing of finance and accounting functions across industries. The global APAC and MEA Finance and Accounting Managed Services Market is estimated to be valued at US$ 1153.13 Mn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.
The market in Southeast Asia and the Middle East represent major opportunities for growth. Rapid digitalization, strong GDP growth and increasing outsourcing of finance processes have boosted demand across industries. In Southeast Asia, Singapore, Malaysia, Philippines and Indonesia show high uptake of managed services. The UAE, Saudi Arabia and other Gulf nations also contribute significantly to MEA regional revenues due to deployment across oil & gas, utilities and manufacturing firms.
Key players operating in the APAC and MEA finance and accounting managed services industry include Alcoa Corporation, Novelis Inc., UACJ Corporation, Norsk Hydro ASA, AMG Advanced Metallurgical Group, Constellium, Aluminum Corporation of China Limited, Rio Tinto Group, Aleris Corporation, Autoneum Holding AG, Dana Limited, ElringKlinger AG, Progress-Werk Oberkirch AG and JINDAL ALUMINIUM LTD.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it