€45.1bn
€X.Xbn
438k
61,268
€XX.Xbn
The industry offers a wide range of services to companies in all sectors of the economy, including audit, assurance, tax and compliance. Its total turnover has grown by an average of 0.9% annually since 2019, with the sector benefiting from the expansion of corporate investment and extensive M&A activities. The entry of new companies into the industry has intensified internal competition. In order to increase their market share, the largest auditing firms (audit firms) have increasingly acquired smaller companies and expanded their offering with additional consulting services through strategic acquisitions. In 2024, industry turnover is expected to increase by 0.7% to 45.1 billion euros.In the last five years, the major auditing firms have increasingly expanded their range of services to include advisory services. These additional services include, in particular, the assessment of regulatory risks and financial uncertainties. Digitalisation and the use of big data analyses play an important role in increasing efficiency and reducing errors. However, it is primarily large companies that benefit from these technological developments, while smaller companies suffer a competitive disadvantage as a result. In response to the Wirecard scandal and the associated loss of trust, regulation for auditors was tightened in order to improve balance sheet control and achieve a greater separation between auditing and consulting business.In the next five years, industry revenues are expected to increase at an average annual rate of 0.6%, reaching 46.6 billion euros in 2029. IBISWorld expects the industry to develop positively due to increasing private investment, rising corporate numbers and higher activity in the financial markets, including an increase in M&A activity. The increasingly stringent regulations on sustainability reporting should also have a positive impact on the development of the industry. The larger audit firms will continue to expand their consulting business against the backdrop of higher expected profit margins, while many small and medium-sized enterprises (SMEs) will tend to offer more niche services. Although competition is likely to increase, especially in the consumer segment, due to low-cost online alternatives for accounting or tax preparation, this should not significantly hamper growth in the sector.
Industry revenue has grown at a CAGR of 0.9 % over the past five years, to reach an estimated €45.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue (€m)
2024 |
---|---|---|
PricewaterhouseCoopers GmbH | 2,978.0 | |
Ernst & Young GmbH | 2,792.0 | |
KPMG AG | 2,476.0 |
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Accounting, Bookkeeping & Auditing in Germany
Industry revenue is measured across several distinct product and services lines, including Tax Consultancy, Accounting services and Auditing and audit-related services. Tax Consultancy is the largest segment of the Accounting, Bookkeeping & Auditing in Germany.
Most companies decide to take advantage of professional tax advice
This sector comprises the activities of auditors or auditing companies, sworn auditors or auditing companies, tax agents, tax consultants or tax consulting companies and accounting service providers. The players in the sector audit annual financial statements, advise on tax issues, prepare tax returns, handle bookkeeping, analyse the financial situation and ensure compliance with statutory regulations.
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WZ 69.20 - Accounting, Bookkeeping & Auditing in Germany
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The opportunities offered by digitalisation are mainly used by larger industry players. Smaller companies often lack the necessary capital to invest in technological equipmen...
Learn about an industry's products and services, markets and trends in international trade.
Tax consultancy is the highest-revenue service in the industry. The proportion attributable to accounting is almost as high. Consultancy services are currently gaining in imp...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The central region has the highest number of companies in the sector. Of these, by far the most are located in North Rhine-Westphalia, the most populous federal state in Germ...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
There is fierce competition in the industry. As a rule, large companies compete for large business customers and small players for smaller customers.
Learn about the performance of the top companies in the industry.
PwC is the market leader in the audit, tax and accounting sector in Germany. The company provides services for national and international clients of all sizes in the areas of...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The EU audit reform requires auditors to rotate at regular intervals. Not only must the auditing company change, but the responsible audit partner must also rotate within a c...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
The profit margin can vary greatly from company to company. Large companies generally have a higher profit margin than small ones.
Including values and annual change:
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Key data sources in Germany include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Accounting, Bookkeeping & Auditing industry in Germany is €45.1bn in 2024.
There are 61,268 businesses in the Accounting, Bookkeeping & Auditing industry in Germany, which has grown at a CAGR of 0.6 % between 2019 and 2024.
The market size of the Accounting, Bookkeeping & Auditing industry in Germany has been growing at a CAGR of 0.9 % between 2019 and 2024.
Over the next five years, the Accounting, Bookkeeping & Auditing industry in Germany is expected to grow.
The biggest companies operating in the Accounting, Bookkeeping & Auditing market in Germany are PricewaterhouseCoopers GmbH, Ernst & Young GmbH and KPMG AG
Tax Consultancy and Accounting services are part of the Accounting, Bookkeeping & Auditing industry.
The company holding the most market share in Germany is PricewaterhouseCoopers GmbH.
The level of competition is high and increasing in the Accounting, Bookkeeping & Auditing industry in Germany.