APAC AND MEA FINANCE AND ACCOUNTING MANAGED SERVICES INDUSTRY MARKET ANALYSIS

Apac And Mea Finance And Accounting Managed Services Industry MarketSize and Trends

Statistics:

Asia Pacific held dominant position in the APAC and MEA finance and accounting managed services industry market in 2019, accounting for 93.24% share, in terms of value.

Figure 1: APAC and MEA Finance and Accounting Managed Services Industry Market Share (%), By Region, 2019

Asia Pacific held dominant position in the APAC and MEA finance and accounting managed services industry market in 2019 and is estimated to retain its dominance throughout the forecast period, owing to rising adoption of cloud services and technology proliferation across the region. According to Coherent Market Insights analysis, in Singapore, 31% of ICT (Information communication technology) companies fully operates on cloud infrastructure, whereas 46% companies operates on both traditional and cloud infrastructure. Moreover, the companies providing managed services, are continuously focused on expanding their foothold in Asia Pacific due to the business potential across Asia Pacific. For instance, on June 2, 2021, Loughborough-based The Access Group announced the acquisition of Sage Group’s, significant local business in Australia and Asia Pacific. As a part of this acquisition, The Access Group acquired Sage Group’s WageEasy compliant payroll services, MicrOpay, and HandiSoft accounting along with UBS Accounting software in Malaysia, and EasyPay payroll service in Singapore.

Figure 2: APAC and MEA Finance and Accounting Managed Services Industry Market Value (US$ Mn), 2018 – 2025

The APAC and MEA finance and accounting managed services industry market was valued at US$ 879.72 Mn in 2019 and is expected to reach US$ 1,059.35 Mn by 2025, is expected to exhibit a CAGR of 7.0% over the forecast period (2020-2025).