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Accounting Services in the US Industry Data and Analysis
Accounting service providers have enjoyed steady growth over the past five years, buoyed by economic growth early on in the period and demand for monetary advice through the financial turmoil of the past decade. As revenue has expanded, new accounting service providers have begun operating locally, heightening competition between smaller companies and focusing on local clients like individual households. Steady 3.1% growth in aggregate private investment over the past five years created a greater need for accountants and proliferated a higher need for financial statements and tax preparation, although the effects of high interest rates limited smaller businesses' demand. Reforms to the federal tax code via the One Big Beautiful Bill Act (OBBBA) in 2025 generated higher demand for professional accountant input to assist clients in navigating various policy changes. Accounting services revenue grew at a CAGR of 1.3% to an estimated $157.4 billion over the past five years, including an estimated 1.6% boost in 2026 alone. Profit slipped in recent years due to higher interest rates pushing accountants’ labor costs upward.
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What's included in this industry analysis
IBISWorld's research coverage on the Accounting Services industry in the United States includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released February 2026.
About this industry
What's this industry report about?
The Accounting Services industry in the United States operates under the NAICS industry code 54121c. Operators in the industry are certified to audit the accounting records of public and private organizations and to demonstrate compliance with generally accepted accounting practices. Certified public accountants (CPAs) in this industry provide a variety of accounting services, including auditing accounting records, designing accounting systems, preparing financial statements, developing budgets and providing advice on matters related to accounting. Related terms covered in the Accounting Services industry in the United States include auditing, initial public offering (ipo) and international financial reporting standards (ifrs).
What's included in this industry?
Products and services covered in Accounting Services industry in the United States include Financial auditing , Individual tax preparation and Corporate tax preparation.
What companies are included in this industry?
Companies covered in the Accounting Services industry in the United States include Deloitte Touche Tohmatsu, EY and Pricewaterhousecoopers Llp.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Accounting Services industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Accounting Services industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Accounting Services industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Accounting Services industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Accounting Services industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Accounting Services industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Accounting Services industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Accounting Services industry in the United States.
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Frequently Asked Questions
What is the market size of the Accounting Services industry in the United States in 2026?
The market size of the Accounting Services industry in the United States is $157.4bn in 2026.
How many businesses are there in the Accounting Services industry in the United States in 2026?
There are 85,223 businesses in the Accounting Services industry in the United States, which has declined at a CAGR of 0.2 % between 2021 and 2026.
How may import tariffs affect the Accounting Services industry in the United States?
The Accounting Services industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Accounting Services industry in the United States?
The Accounting Services industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Accounting Services industry in the United States grown or declined over the past 5 years?
The market size of the Accounting Services industry in the United States has been growing at a CAGR of 1.3 % between 2021 and 2026.
What is the forecast growth of the Accounting Services industry in the United States over the next 5 years?
Over the next five years, the Accounting Services industry in the United States is expected to grow.
What are the biggest companies in the Accounting Services industry in the United States?
The biggest companies operating in the Accounting Services industry in the United States are Deloitte Touche Tohmatsu, EY and Pricewaterhousecoopers Llp
What does the Accounting Services industry in the United States include?
Financial auditing and Individual tax preparation are part of the Accounting Services industry in the United States.
Which companies have the highest market share in the Accounting Services industry in the United States?
The company holding the most market share in the Accounting Services industry in the United States is Deloitte Touche Tohmatsu.
How competitive is the Accounting Services industry in the United States?
The level of competition is moderate and steady in the Accounting Services industry in the United States.
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