Saudi Arabia Accounting Services Market By Type of Services (Tax Preparation Services, Bookkeeping Services, Payroll Services & Others), Competition Forecast & Opportunities, 2013 – 2023

Saudi Arabia accounting services market is forecast to reach $ 783 million by 2023, predominantly on the back of the government’s Vision 2030 initiative towards economic diversification and increasing focus towards the establishment of Small & Medium Enterprises (SMEs) in the country. Moreover, rising preference of the companies for outsourcing their accounting services to focus and invest on their core competencies as well as optimize cost of operation, reduce risk of internal fraud and ensure tax compliance is expected to fuel the accounting services market in the country in the coming years. Availability of scalable accounting services and access to effective tax planning are some of the other key factors anticipated to boost demand for accounting services in the Middle Eastern country during forecast period. 

Years considered for this report:

Historical Years: 2013-2016

Base Year: 2017

Estimated Year: 2018

Forecast Period: 2019–2023

Objective of the Study:

• To analyze and forecast Saudi Arabia accounting services market size.
• To define, classify and forecast Saudi Arabia accounting services market on the basis of service type and region.
• To assess the detailed market segmentation and forecast the market size, in terms of value, by segmenting Saudi Arabia accounting services market into regions, namely – Central Region, Western Region, Eastern Region, Southern Region and Northern Region.
• To identify the tailwinds and headwinds for Saudi Arabia accounting services market.
• To evaluate and forecast the market size, in terms of value, for Saudi Arabia accounting services with respect to Tax Preparation Services, Bookkeeping Services Payroll Services & Other Accounting Services.
• To identify the drivers and challenges for Saudi Arabia accounting services market.
• To strategically profile leading players operating in accounting services market in Saudi Arabia.  

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Some of the major players operating in Saudi Arabia accounting services market are PricewaterhouseCoopers (Middle East Group) Limited, Ernst & Young Saudi Arabia, KPMG Al Fozan & Partners, Deloitte & Touche Bakr Abulkhair & Co., El Sayed El Ayouty & Co., Dr. Mohamed Al-Amri & Co., Abdullah Al Basri & Co., Dr Abdelgadir Bannaga and Partners Co, Proven SA, and PKF Al Bassam & Al Nemer, among others.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of companies providing accounting services across Saudi Arabia Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the offerings, distribution channels, and presence of all major accounting services companies in Saudi Arabia.

TechSci Research calculated Saudi Arabia accounting services market size using a bottom-up approach, where data for different types of services (Tax Preparation Services, Bookkeeping Services, Payroll Services, etc.) was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services and applications for getting an appropriate, overall market size. Various secondary sources such as Company Website, Annual Reports, Press Releases, Ministry of Finance-KSA, General Authority of Zakat and Tax, Saudi Arabian General Investment Authority (SAGIA), Small and Medium Enterprises General Authority, etc., were also studied by TechSci Research.

Key Target Audience:

• Providers and End Users of Accounting Services
• Associations, organizations, forums and alliances related to accounting services
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as providers, partners, end users and policy makers of accounting services. The report would allow the stakeholders to identify which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth of the market.

Report Scope:

In this report, Saudi Arabia accounting services market has been segmented into the following categories in addition to the industry trends which have also been detailed below:

• Market, by Type of Services:
• Tax Preparation Services
• Bookkeeping Services
• Payroll Services
• Other Accounting Services
• Market, by Tax Preparation Accounting Services:
• Tax Planning
• Consulting Services

·         Market, by Bookkeeping Accounting Services:

• Invoicing Processing Services
• Account Receivable Services
• Accounts Payable Services
• Bank Account Reconciliation
• Other Bookkeeping Services
• Market, by Payroll Accounting Services:
• Full-Services Payroll Services
• Payroll Services Sold Separately
• Billing Services
• Market, by Geography:
• Central Region
• Western Region
• Eastern Region
• Southern Region
• Northern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia accounting services market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

·         Detailed analysis and profiling of additional market players (up to five).