APAC and MEA Finance and Accounting Managed Services Industry Market is Estimated to Witness High Growth Owing to Opportunity to Increase Efficiency and Reduce Operational Costs

 

APAC and MEA Finance and Accounting Managed Services Industry Market

The APAC and MEA finance and accounting managed services industry offers various benefits such as managing finance and accounting operations, tracking expenses, reconciling accounts, and providing analytical insights. It helps organizations to focus on core business areas while outsourcing finance and accounting functions. 

The global APAC and MEA Finance and Accounting Managed Services 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 Opportunity:
The opportunity to increase efficiency and reduce operational costs is expected to drive the growth of APAC and MEA finance and accounting managed services market during the forecast period. By outsourcing finance and accounting operations to managed service providers, organizations can considerably reduce operational costs associated with hiring qualified finance professionals, implementing expensive ERP systems, and maintaining on-site financial infrastructure. Managed service providers leverage advanced technologies and shared services models to deliver cost-effective solutions. They also help in improving process efficiencies through standardized processes, data centralization, automation of routine tasks, and analytical insights. This enables organizations to focus on their core business areas more efficiently. The ability of managed service providers to lower costs and boost process efficiencies is expected to uptake the demand for APAC and MEA finance and accounting managed services in the coming years.

Porter's Analysis
Threat of new entrants: Low bargaining power of buyers. The Finance and Accounting Managed Services market is relatively concentrated with few large players holding majority market share.

Bargaining power of buyers: Moderate. Large enterprises have high bargaining power due to bulk buying. Small enterprises have low bargaining power.

Bargaining power of suppliers: Moderate. Suppliers have moderate control over prices due to differentiated services.

Threat of new substitutes: Low. There are few substitutes for finance and accounting managed services.

Competitive rivalry: High. Players compete on service offering, pricing and innovation.

SWOT Analysis
Strength: Customizable finance and accounting solutions and presence across APAC and MEA regions. Global delivery model helps reduce costs.

Weakness: High turnover of finance professionals. Rising cybersecurity threats and data privacy concerns.

Opportunity: Growing digital transformation spending in finance departments. Demand from SMBs segment.

Threats: Economic slowdowns impacting IT budgets. Low brand loyalty resulting in frequent vendor changes.

Key Takeaways

The Global APAC And MEA Finance And Accounting Managed Services Industry Market Size is expected to witness high growth. The market size is estimated to reach US$ 2,327.63 Bn by 2031, expanding at a compound annual growth rate (CAGR) of 18% during the forecast period of 2024 to 2031.

Regional analysis: The APAC region dominates the market with more than 55% share in 2024 owing to growing digital adoption across industries and increasing outsourcing of finance functions to managed service providers by enterprises based in major APAC countries like China, India and Japan. The MEA region is expected to witness the fastest growth during the forecast period supported by ongoing investments in finance technology infrastructure across GCC countries and initiatives to diversify economies away from oil dependence.

Key players operating in the APAC and MEA Finance and Accounting Managed Services market are GuardRFID Solutions Inc., ALE International (Nokia Corporation), Favendo Gmbh, Teldio Corporation, CenTrak, Cisco Systems Inc. (Cisco Meraki), AiRISTA Flow Inc., Creativity Software Ltd., IBM Corporation, DigitalGlobe Inc. (Maxar Technologies), Aruba Networks (HPE Development LP), Ericsson Inc., HERE Global BV, IndoorAtlas Ltd., GL Communications Inc., and Esri Inc.

For more Insights, Read –

https://www.newsstatix.com/apac-and-mea-finance-and-accounting-managed-services-industry-market-size-market-share-analysis/

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