Accounting services defined as services used for the measurement, processing, and communication of financial data about economic entities. Accounting services help in calculating and preparation of tax returns and also for tax planning and keeps a check on the transactions of the business and after proper planning, it suggests ways to improve the business. The main types of accounting services are payroll services, tax preparation services, and bookkeeping, financial auditing, and other accounting services. A payroll service provider is a business that automates payroll computations, tax statements, and year-end taxes, among other services. These services are used by various industries, such as IT services, manufacturing, financial services, construction, and others. The different service providers include large enterprises, small and medium enterprises. The accounting services market research report is one of a series of new reports from The Business Research Company that provides accounting services market statistics, including accounting services industry global market size, regional shares, competitors with an accounting services market share, detailed accounting services market segments, market trends and opportunities, and any further data you may need to thrive in the accounting services industry. This accounting services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry. The global accounting services market grew from $640.7 billion in 2022 to $675.14 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The accounting services market is expected to grow from $795.99 billion in 2027 at a CAGR of 4.2%. Regulatory reforms in the financial sector have heightened demand for accounting services such as accounting and tax advisory. For instance, in 2021-22, as a result of the escalating stress in the banking and financial sectors, the government of India launched the National Asset Reconstruction Company Limited (NARCL) or Bad Bank. On resuming regular operations in the current year, 22 stressed loans amounting to more than 80,000 crores are expected to be transferred to NARCL for resolution through a focused approach . Over the next five years, further major changes, such as the UK’s exit from the EU, will create additional demand for accounting consultants, thereby driving the market. The outbreak of COVID-19 disease (COVID-19) has acted as a restraint on the accounting services market in 2020 as governments globally imposed lockdowns and restricted trade, thereby limiting the need for professional services. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and has spread globally, including Western Europe, North America, and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity with countries entering a state of "lock down" and the outbreak is expected to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the accounting services market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Some accountants are outsourcing typical basic accounting tasks such as payroll accounting, accounts payable, and accounts receivable to allow their employees to focus on higher-value activities such as becoming vertical experts in their customers' markets and analyzing their clients' business data. This extra attention and analysis is transforming the role of a traditional accountant into a business advisor and takes customer service to the next level by developing strong, counsel-focused relationships. For instance, QX Accounting Services (QXAS) Ltd provides outsourced accounting, finance, and other services to accountants and accountancy firms in the UK. Major companies in the accounting services market include PwC, Ernst & Young, KPMG, Deloitte Touche Tohmatsu Limited, ADP LLC, BDO LLP, Paychex Inc., Grant Thornton LLP, RSM International and H&R Block Inc. North America was the largest region in the accounting services market in 2022. Western Europe was the second largest region in the accounting services market. The regions covered in the accounting services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the accounting services market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The accounting services market consists of revenue earned by entities by providing services such as recording and analyzing of financial transactions and other financial values pertaining to businesses and other organizations. The accounting service involves summarizing, analyzing, auditing and reporting of the financial transactions to tax collection agencies and entities. It also involves auditing and preparing financial statements, designing accounting systems, developing budgets and accounting advisory. Accounting services undertake processes where human capital is the major input. They make available the knowledge and skills of their employees, often on an assignment basis, where an individual or team is responsible for the delivery of services to the client. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global accounting services market is segmented - 1) By Type: Payroll Services, Tax Preparation Services, Bookkeeping, Financial Auditing, Other Accounting Services 2) By End Use Industry: IT Services, Manufacturing, Financial Services, Construction, Other End Use Industries 3) By Service Provider: Large Enterprise, Small and Medium Enterprise

Accounting software is a computer program that assists bookkeepers and accountants in recording and reporting financial transactions for a business. The accounting software is used for optimizing business financial accounting processes such as invoicing and billing, tax calculation, financial reporting, project management, and others. Accounting software is used by bookkeepers, accounting professionals, and business owners to process accounting transactions and manage accounts. The main components of accounting software include solutions and services. Accounting software solutions help in optimizing business financial accounting processes and handle day-to-day business transactions for hassle-free bookkeeping. The different accounting software types include spreadsheets, commercial accounting software, enterprise accounting software and custom accounting software. The deployment types for accounting software include on-premise and cloud, used by enterprise sizes such as large enterprises and SMEs. The different accounting software industry verticals include BFSI, retail and e-commerce, manufacturing, IT and telecom, healthcare, government and public sector, energy and utilities, media and entertainment and other verticals. The accounting software market research report is one of a series of new reports from The Business Research Company that provides accounting software market statistics, including accounting software industry global market size, regional shares, competitors with an accounting software market share, detailed accounting software market segments, market trends and opportunities, and any further data you may need to thrive in the accounting software industry. This accounting software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global accounting software market size grew from $15.73 billion in 2022 to $17.71 billion in 2023 at a compound annual growth rate (CAGR) of 12.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The accounting software market size is expected to grow to $27.3 billion in 2027 at a CAGR of 11.4%. The increasing demand for automation in accounting processes is driving the growth of the accounting software market. The increasing demand from the finance and accounting professionals around the world for increasing the efficiency of the accounting processes generates higher demand for accounting software. According to a 2022 survey by Airbase, a spend management platform, comprising nearly 200 finance and accounting professionals in the US, 78% of the respondents agreed that automation would have a positive impact on their growth, and 47% said that a lack of automation was costing them time and money. Therefore, the increasing focus on automation in accounting processes drives the accounting software market. Technological advancement is a key trend gaining popularity in the accounting software market. Major companies in the accounting software market are integrating advanced technologies such as AI (artificial intelligence) to launch innovative solutions. For instance, in July 2021, Xero, a New Zealand-based accounting software company, launched new planning, insights, and reporting tool, Analytics Plus, for small and medium-sized businesses. The tool combines cash flow forecasting and advanced predictions using AI to give businesses insights into different financial parameters. In October 2021, FreshBooks, a Canada-based invoice and accounting software company, acquired FastBill for an undisclosed amount. With this acquisition, FreshBooks gained access to FastBill’s expertise in European Union tax filing policies and enhanced accounting technologies. FreshBooks intends to expand into new markets and expand its platform to be more extensive. FastBill is a Germany-based accounting software provider. Major players in the accounting software market are Intuit Inc., Sage Software Inc., SAP SE, Oracle Corporation, Microsoft Corporation, Infor Inc., Epicor Software Corporation, Unit4 Business Software Limited, Xero Ltd., Zoho Corp, Red Wing Software Inc., MYOB Group Pty Ltd., Reckon Ltd., Saasu Pty Ltd., and Tally Solutions Private Limited. North America was the largest region in the accounting software market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in accounting software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the accounting software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The accounting software market consists of revenues earned by entities by providing online accounting software. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global accounting software market is segmented - 1) By Component: Solution, Services 2) By Type: Spreadsheets, Commercial Accounting Software, Enterprise Accounting Software, Custom Accounting Software 3) By Deployment Mode: On-Premise, Cloud 4) By Enterprise Size: Large Enterprises, SMEs 5) By Industry Vertical: BFSI, Retail and Ecommerce, Manufacturing, IT and Telecom, Healthcare, Government and Public Sector, Energy and Utilities, Media and Entertainment, Other Verticals

Asset servicing refers to a set of tasks and activities performed by a custodian for his clients in relation to the assets in his custody. The main services offered in asset servicing are fund services, custody and accounting, outsourcing services, and securities lending. Securities lending is the process of lending shares of stock, commodities, derivative contracts, or other securities to other investors or firms. The borrower must put up collateral in the form of cash, other assets, or a letter of credit when applying for a security loan. The services are offered to large enterprises, medium-sized and small enterprises, capital markets, and wealth management firms. The asset servicing research report is one of a series of new reports from The Business Research Company that provides asset servicing statistics, including asset servicing industry global market size, regional shares, competitors with asset servicing shares, detailed asset servicing segments, market trends and opportunities, and any further data you may need to thrive in the asset servicing industry. This asset servicing research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global asset servicing market will grow from $1159.45 billion in 2022 to $1277.82 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global asset servicing market is expected to grow to $1830.69 billion in 2027 at a CAGR of 9.4%. Globalization acts as a major driver for the growth of the asset servicing industry. According to a study on global asset servicing, nearly 60% of asset services in Assets Under Administration (AUA) and Assets Under Contract (AUC) predict that globalization is likely to be a strong driver for the asset servicing market’s growth over the forecast period. The players dealing in the asset servicing industry are majorly focusing on the APAC markets and other growing economies. Moreover, according to the BNP Paribas Securities Services article published in January 2020, India was expected to experience impressive growth in the asset management and servicing industry owing to the increasing working population, the rising buying power of the populace, and expected growth in the GDP of the country. Thus, globalization creates a large avenue for the expansion and growth of the asset servicing market over the forecast period. The stringent regulatory framework is predicted to limit the growth of the asset servicing industry over the forecast period. According to Funds Europe’s asset servicing roundtable, rising global regulation is adding cost and risk to asset servicing, creating a requirement for asset servicers to constantly engage with clients and regulators. In addition to this, according to EY’s new opportunities for asset servicing study, nearly 75% of the companies see the impact of regulations as the greater risk facing the asset servicing industry. Therefore, the increased scrutiny from regulatory agencies is anticipated to hinder the asset service market’s growth in the forecast period. Robotic process automation (RPA) or automation is a major trend shaping the growth of the asset servicing market. Robotic process automation alone could reduce the headcount by 60–70% in the asset servicing industry while also achieving cost savings of approximately 30–40%. Robotic process automation (RPA) refers to a set of software tools known as bots or robots that are used to perform a repetitive or routine business process that is currently used by transaction processing teams or service centers. RPA can replace manual tasks involved in asset servicing such as reconciliation, trade processing, and reporting for regulators and clients, reducing the time required with cost-efficiency. For instance, the ANZ Banking Group was one of the early ones to adopt RPA aggressively and automated its HR, finance, and technology processes in its Bengaluru hub, creating thousands of bots. In April 2020, JP Morgan sought to take whole ownership of China International Fund Management (CIFM), a local asset management firm, for an amount of $1 billion. This step was taken following China's reforms on the elimination of caps on foreign companies' taking full control of local asset management operations. This acquisition is expected to enable JP Morgan's long-term involvement with CIFM and strengthen the company’s position in the Chinese market. China International Fund Management (CIFM) was founded in 2004 and offers asset management and related services to China. Major players in the asset servicing market are National Australia Bank Limited, CACEIS, BNY Mellon, HSBC, JP Morgan, Citi, The Bank of New York Mellon Corporation (BNY Mellon), State Street Corporation, UBS, and Clearstream (Deutsche Börse Group). North America was the largest region in the asset servicing market in 2022. Western Europe was the second largest region in the global asset management market. The regions covered in the global asset servicing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the asset servicing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The asset servicing market consists of revenues earned by entities by providing administration services through a central securities depository (CSD) or custodian in connection with the custody and/or safekeeping of financial instruments (e.g., the processing of corporate events or the handling of taxes) on a fee or commission basis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The global asset servicing market is segmented - 1) By Service: Fund Services, Custody and Accounting, Outsourcing Services, Securities Lending 2) By End User: Capital Markets, Wealth Management Firms 3) By Enterprise Size: Large Enterprises, Medium and Small Enterprises

A value-based care payment is a type of payment that compensates providers for both efficiency and effectiveness by linking payments for care delivery to the level of care they deliver. Value-based care payment is a system in which healthcare providers such as hospitals are paid based on patient's health outcome, quality, efficiency, cost, and patient experience. The main types of models in value based care payment are accountable care organization (ACO), bundled payments, patient-centered medical home (PCMH), and pay for performance (P4P). A healthcare organization that connects provider compensation to quality measurements and cost-cutting measures is known as an accountable care organization. The different deployment modes include cloud-based, on-premise and is used in various sectors such as providers, and payer. The value based care payment market research report is one of a series of new reports from The Business Research Company that provides value based care payment market statistics, including value based care payment industry global market size, regional shares, competitors with a value based care payment market share, detailed value based care payment market segments, market trends and opportunities, and any further data you may need to thrive in the value based care payment industry. This value based care payment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global value based care payment market size will grow from $2.2 billion in 2022 to $2.47 billion in 2023 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global value based care payment market size is expected to grow from $3.73 billion in 2027 at a CAGR of 10.9%. Rapid development in value-based health care services is expected to contribute to the tremendous growth of the market. Healthcare cost curve and unnecessary health expenditures have been reduced to almost 5.6% on average due to value based healthcare services. The UnitedHealth predicted that $75 billion of its payments to medical care providers will be attached to value-based care relationships by the end of 2020. Likewise, the quantity of Accountable Care Organizations (ACO) is expanding, giving more protection and inclusion. For example, according to the analysis in the Journal of Health Affairs, there were more than 1,000 ACOs spread across the USA, which represented more than 1,400 contracts with commercial and government insurers covering more than 32 million Americans. Therefore, rapid expansion in value-based health care services is driving the market by increasing the effective usage of services provided to customers focusing on value-based care model rather than the fee-for-service model. The lack of health care infrastructure is expected to limit the growth of value based care payment market. The main reason for this dearth is the lack of willingness of organizations to take the technological risk. For instance, according to a survey, a large portion of the organizations are yet to embrace artificial intelligence (AI) to accelerate value-based care. About 43% of healthcare organizations are uncertain about actualizing AI and another 21% are not prepared for any AI-related innovation. Moreover, only 13% are prepared for AI and have an execution plan set up attributing to the lack of trained staff with knowledge of data analytics. In addition to this, according to a survey of 2,900 medicinal executives through the span of a year, many healthcare facilities lack the infrastructure to integrate patient data effectively, which implies that value-based care payment cannot be used in these organizations. These factors are expected to impact healthcare infrastructure by limiting the growth of value based care payment market. Partnerships in value based care are gaining popularity among the providers as these partnerships allow partners such as manufacturers, payers, and provider organizations to co-develop programs, solutions, and initiatives collaboratively for the benefit of patients and healthcare systems. Value-based partnerships assist with conveying the highest value incentive to the healthcare system and society by concentrating on improving patient results with regard to the system and societal total costs. For instance, in June 2021, Humana, a US-based health insurance company acquired value-based home healthcare partner One Homecare Solutions (onehome) from WayPoint Capital Partners to enhance value-based care in home healthcare services. In March 2022, Signify Health, Inc., a Texas-based value-based healthcare platform, acquired Caravan Health for an undisclosed amount. Through this acquisition, a wider variety of value-based and shared savings models, including advanced primary care, speciality care bundles, and total cost of care programs, will now be accomplished by Signify Health. Caravan Health is a US-based company specialising in value-based payment health care. Major players in the value based care payment market are Siemens Healthcare GmbH, Nextstep Solutions, Athena Health, NXGN Management LLC. and McKesson Corporation. North America was the largest region in the value based care payment market in 2022. Western Europe was the second largest region in global value based care payment market. The regions covered in the global value based care payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the value based care payment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The value-based care payment market includes revenues earned by entities by providing hospital value-based purchasing programs (VBP) and value-based care services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain or as part of other products. The global value based care payment market is segmented - 1)By Models: Accountable Care Organization (ACO), Bundled payments, Patient-Centered Medical Home (PCMH), Pay for Performance (P4P) 2)By Deployment: Cloud Based, On-Premise 3)By End User: Providers, Payer,

Cloud billing refers to a combination of cloud computing and electronic billing. Many firms are broadening their horizons by implementing an on-premises billing infrastructure. Cloud billing is transforming the computer system, allowing for greater billing flexibility and easier data access. The main types of cloud billing are subscription billing, metered billing, cloud service billing, provisioning, and others. Subscription billing is a billing strategy that allows businesses to bill customers for a certain service or product on a set schedule. The different deployment types include private cloud, public cloud and are employed in large enterprises and SMEs. It is used in account management, revenue management, customer management, and others and is implemented in various verticals such as BFSI, telecommunications and ITES, consumer goods and retail, healthcare and life sciences, and others. The cloud billing market research report is one of a series of new reports from The Business Research Company that provides cloud billing market statistics, including cloud billing industry global market size, regional shares, competitors with a cloud billing market share, detailed cloud billing market segments, market trends and opportunities, and any further data you may need to thrive in the cloud billing industry. This cloud billing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global cloud billing market size grew from $7.01 billion in 2022 to $8.24 billion in 2023 at a compound annual growth rate (CAGR) of 17.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cloud billing market size is expected to grow to $15.85 billion in 2027 at a CAGR of 17.8%. The rising need for lower capital and operating expenditure is expected to drive the growth of the cloud billing market in the coming years. With the advent of the cloud, billing transitioned from a separate back-office product to an essential component of the entire quote-to-cash procedure. Cloud billing allows businesses to save costs while also allowing them to give excellent customer service. For instance, according to a Flexera report published in 2021, 93% of companies are using some type of cloud-based system, and 73% preparing to optimize existing cloud usage for cost savings. Therefore, the rising need for lower capital and operating expenditure fuels the growth of the cloud billing market. Advancements in technology are shaping the cloud billing market. Major companies operating in the cloud billing sector are focused on developing technological solutions for cloud billing to accelerate business growth. For instance, in November 2020, Salesforce, an American cloud-based software company launched Revenue Cloud, based on multi-cloud billing technology to help companies to track revenue lifecycle. Revenue Cloud, which is part of Salesforce's Customer 360 platform, combines the firm's existing partner relationship management (PRM), CPQ and Billing, and B2B commerce solutions into a single solution. In February 2020, Salesforce, an American cloud-based software company that provides customer relationship management services acquired Vlocity Inc., for $1.3 billion. With its acquisition of Vlocity Inc., Salesforce is taking ownership of the industry cloud. Vlocity Inc., is a US-based software company that offers cloud billing solutions. Major players in the cloud billing market are Aria System Inc., Amdocs Inc., Oracle Corporation, NEC Corporation, Jamcracker, IBM Corporation, CGI Group Inc., SAP SE, Zuora Inc., BillingPlatform Corp., Recurly, Cerillion, ConnectWise, AppDirect, Chargebee, RecVue, Chargify, Salesforce, Orbitera Inc., and Amazon Web Service Inc., North America was the largest region in the cloud billing market in 2022. Asia-Pacific is expected to be the fastest region in the forecast period. The regions covered in the cloud billing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the cloud billing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The cloud billing market includes revenues earned by entities by providing services such as On-Premise infrastructure, public cloud, virtual private cloud (VPC), hybrid cloud, multi-cloud. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global cloud billing market is segmented - 1) By Type: Subscription Billing, Metered Billing, Cloud Service Billing, Provisioning, Other Types 2) By Deployment Type: Private Cloud, Public Cloud 3) By Organization Size: Large Enterprises, SMEs 4) By Application: Account Management, Revenue Management, Customer Management, Other Applications 5) By Vertical: BFSI, Telecommunications And ITES, Consumer Goods And Retail, Healthcare and life sciences, Other Verticals

The neobanking refer to digital banks with no physical locations that provide a broad range of financial services to target tech-savvy clients primarily. Neobanking offers services including payments, debit cards, money transfers, lending, and more that are mostly digital and mobile in nature. The main types of business accounts of neobanking market include business account, savings account. Business account refers to neobanking services used by business account holders to manage money, bulk pay-outs, credits, detailed account insights, and international transfers. Mobile banking, payments & money transfer, checking/savings account, loans and others are services offered in neobanking. These are applied byenterprises, personal, others. The neobanking market research report is one of a series of new reports from The Business Research Company that provides neobanking market statistics, including Feed yeast industry global market size, regional shares, competitors with a neobanking market share, detailed neobanking market segments, market trends and opportunities, and any further data you may need to thrive in the neobanking industry. These neobanking market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global neobanking market size grew from $79.1 billion in 2022 to $118.51 billion in 2023 at a compound annual growth rate (CAGR) of 49.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The neobanking market size is expected to grow to $556.66 billion in 2027 at a CAGR of 47.2%. The growing demand for digitalization among banking institutions across the globe is contributing to the growth of the neobanking market. Digital banking describes the digitalization of all banking procedures and the substitution of the bank's physical location with a continual online presence, which eliminates the need for consumers to visit a branch. Traditional financial services are being automated by digital banking. Customers of a bank can access banking services and products online or through an electronic platform thanks to digital banking. Neobanking aids in digitizing banks by enabling financial organizations to do business online without physical locations and offering digital versions of all banking services. Neobanks provide highly personalized services at lower prices by utilizing technology such as artificial intelligence (AI), automation, and cloud computing. In 2021, according to a survey conducted by McKinsey and Company, between 2017 and 2021, the fraction of customers in Asia–Pacific developing countries actively utilizing digital banking expanded rapidly, rising from 54 % in 2017 to 88% in 2021. Thus, the growing demand for digitalization in the banking sector is expected to propel the neobanking market. Technological Advancement is a key trend propelling the neobanking market. Artificial intelligence is used in neobanking services and solutions to improve efficiency. AI can provide consumers with highly personalized solutions and logical reminders and notifications that will help them save money and enjoy more ease. It helps in credit decisions, risk management, trading and personalized services. In March 2021, DigiBankASIA, a Singapore-based financial services company, entered into a partnership with Xebia to launch Asia's digital Bank, UnoBank. Combining top banking products to provide a distinctive and cutting-edge digital foundation, Xebia will be UNO's digital and innovative technology partner in building Cognito, UNO's digital-first platform. It is ideally positioned to construct a cutting-edge and intelligent CX platform for UNObank due to its experience in technologies like Al/ML, IoT, AR/VR, Cloud, DevOps, Big Data & Analytics. Xebia is a US-based IT consultancy company. In December 2021, Open, an India-based neobank that combines banking, payments, accounting, expense management & taxes in one place, acquired Finin for $10 million. The acquisition improves Open's cloud native BankingStack financial OS and gives banks and other financial institutions the means to introduce and expand their digital banking services to both individuals and enterprises. Along with providing salary accounts for employees and an integrated payroll module, the acquisition will enable SMEs using the Open SME neo-banking platform to expand. Finin is an India-based neobanking platform that makes it easier, quicker, and smarter to manage, save, and invest your money. Major players in the neobanking market are Revolut Ltd., Simple Finance Technology Corp., Ubank Limited, Webank, Inc., Tangerine Bank, Chime Financial, Inc., Dave, Inc., Neo Financial Technologies Inc., Nubank S.A., OakNorth, Orange Bank, Tinkoff Bank, Upgrade, Inc., Monzo and Monese. Western Europe was the largest region in the neobanking market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in neobanking market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the neobanking market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The neobanking market includes revenues earned by entities by a full stack neobank or a front-end focused neobank. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global neobanking market is segmented - 1) By Account Type: Business Account, Savings Account 2) By Service: Mobile Banking, Payments And Money Transfer, Checking/Savings Account, Loans, Other Services 3) By Application: Enterprises, Personal, Other Application

Business process automation refers to the application of cutting-edge technology to finish business processes with the least amount of human involvement. The business process automation is used with greater efficiency, higher productivity, increase in profits, time savings, and many more. The main components of the business process automation market are platforms and services. Platforms refer to a system that substitutes automatic procedures for time-consuming manual ones. The deployment types include cloud and on-premises. The organizations include large enterprises and SMEs. The functions include human resource automation, supply chain automation, sales, and marketing automation, accounting and finance automation, and customer service support automation. The various verticals include BFSI, manufacturing, IT, telecommunications, retail and consumer goods, and healthcare. The business process automation market research report is one of a series of new reports from The Business Research Company that provides business process automation market statistics, including business process automation industry global market size, regional shares, competitors with a business process automation market share, detailed business process automation market segments, market trends and opportunities, and any further data you may need to thrive in the business process automation industry. This business process automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global business process automation market size grew from $12.4 billion in 2022 to $14.02 billion in 2023 at a compound annual growth rate (CAGR) of 13.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The business process automation market size is expected to grow to $22.94 billion in 2027 at a CAGR of 13.1%. An increase in customer face time and customer experience is expected to propel the growth of the business process automation market. Customer face time is an important metric that includes any time spent talking with customers. Customer experience refers to the overall perception that customers have of your brand during the entire buyer's journey. Software for business process automation puts the customer experience first. Data cleaning, programmable automation, and reporting are features that guarantee efficient transactions, prompt responses, and individualized care. For instance, in April 2022, according to Emplifi Czech Republic-based company that specialized in AI-powered social marketing, 25% of businesses anticipate combining marketing, sales, and customer experience (CX) into a single department by 2023. A customer care officer, customer care officer, or executives with similar responsibilities are now employed by over 90% of businesses. 52% of consumers want a response from a business within an hour, and 75% of consumers believe it is crucial for firms to provide them with a fully self-service customer care option. 39% said they had to wait longer than two hours for a response. An increase in customer face time and customer experience is driving the growth of business process automation. Technological advancement is a key trend gaining popularity in the business process automation market. Major companies in the business process automation market are advancing in their new technologies and research and development such as Pegasystems newly updated Pega Infinity. For instance, in May 2021, Pegasystems the a US-based software relationship management and business process management company launched Pega Infinity. The unique features of the new technology are Artificial Intelligence (AI) hastens application development. This element combines Pega's low-code process automation software with AI-driven decisioning, a focus area for the company. The number of channels available to you for consumer communication has increased thanks to Pega. The major goal of Pega Customer Decision Hub is to make interactions between businesses and their customers more personalized. In April 2021, International Business Machines Corporation (IBM) a US-based computer hardware and software, provider of information and technology company acquired MyInvenio company for an undisclosed amount. As a result of the acquisition, the features of MyInvenio would be incorporated into IBM's automation portfolio, which includes Red Hat OpenShift, IBM Cloud Pak for Business Automation, and over 600 prebuilt processes. IBM, business partners of IBM may potentially have access to MyInvenivo's technology to help clients gain insights into their operations. MyInvenivo is an Italy-based company that provides a sophisticated process mining solution with elements including simulation, decision rule mining, and multi-level process mining. Major players in the business process automation market are IBM Corporation, Pegasystems Inc., Nintex Inc., Oracle Corporation, Software AG, Salesforce.com Inc., Microsoft Corporation, Appian Corporation, OpenText Corporation, AgilePoint, DXC Technology Company, Kissflow Inc., TIBCO Software Inc., Laserfiche, and OptimumHQ. North America was the largest region in the business process automation market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in business process automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the business process automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The business process automation market consists of revenues earned by entities by providing email automation and automated order entry. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global business process automation market is segmented - 1) By Component: Platforms, Services 2) By Deployment Type: Cloud, On Premises 3) By Organization Size: Large Enterprises, SME's 4) By Function: Human Resource Automation, Supply Chain Automation, Sales And Marketing Automation, Accounting And Finance Automation, Customer Service Support Automation 5) By Vertical: BFSI, Manufacturing, IT, Telecommunications, Retail And Consumer Goods, Healthcare

The digital twin financial services and insurance refers to a technology used for assisting customers with loan management, mitigating risks, policy buying and management, and more. Digital twins are digital replicas of physical products. The data is stored and visualized on a digital platform for better optimization of businesses. The digital twin framework in the insurance and financial services sectors is providing customers with more optimized solutions. The main types of digital twin in financial services and insurance are system digital twin, process digital twin, and product digital twin. The system digital twin is used for digitalizing systems in the financial services and insurance sectors. System twins are the digitalization of whole business systems to study how they work in the financial services and insurance sectors. The different technologies include IoT and IIoT, artificial intelligence and machine learning, 5G, big data analytics, blockchain, augmented reality, virtual reality, and mixed reality that are deployed in the cloud and on-premises. It is used in several applications, such as bank account fund checking, digital fund transfer checks, policy generation, and others. The digital twin financial services and insurance market research report is one of a series of new reports from The Business Research Company that provides digital twin financial services and insurance market statistics, including digital twin financial services and insurance industry global market size, regional shares, competitors with digital twin financial services and insurance market share, detailed digital twin financial services and insurance market segments, market trends and opportunities, and any further data you may need to thrive in the digital twin financial services and insurance industry. This digital twin financial services and insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global digital twin financial services and insurance market size grew from $3.6 billion in 2022 to $4.31 billion in 2023 at a compound annual growth rate (CAGR) of 19.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The digital twin financial services and insurance market size is expected to grow to $8.28 billion in 2027 at a CAGR of 17.7%. The rising urbanization around the world is expected to propel the growth of the digital twin financial services and insurance market going forward. Urbanization refers to the increasing population densities in urban areas compared to rural areas. Due to urbanization and increased net income, people can afford to pay for digital services instead of physically visiting the banks. For instance, according to the United Nations Department of Economic and Social Affairs, a US-based government agency, 68% of the global population is expected to live in urban areas by 2050. Therefore, the rising urbanization and increasing disposable income is driving the digital twin financial services and insurance market. The increasing adoption of cloud technologies is expected to propel the growth of the digital twin financial services and insurance market going forward. Cloud technologies are hosted in the cloud and are accessed via a web browser using the internet. The use of cloud technologies in digital insurance and financial services is expected to promote the adoption of digital twin financial services and insurance as it offers greater security, and quicker processing times with reduced prices. For instance, in 2022, according to hybrid cloud adoption study conducted by Hornetsecurity, surveyed 900 IT professionals primarily based in North America and Europe, found that 93% of businesses were adopting a hybrid of cloud and on-premise solutions or migrating fully to the cloud within 5 years. Therefore, the increasing adoption of cloud technologies is propelling the digital twin financial services and insurance market. In December 2021, Siemens Smart Infrastructure, a Switzerland-based provider of smart solutions acquired EcoDomus’s digital twin software platform for an undisclosed amount. The acquisition would help Siemens smart infrastructure to expand its digital building offerings with cloud-based building operations twin software. EcoDomus is a US-based digital twin software solutions company. Major players in the digital twin financial services and insurance market are IBM Corporation, Atos SE, Swim Inc., General Electric, Microsoft Corporation, SAP SE, ABB Group, Kellton Tech, AVEVA Group plc., PTC, ANSYS Inc., DXC Technology Company, Bosch.IO GmbH, Siemens AG, and Oracle Corporation. North America was the largest region in the digital twin financial services and insurance market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital twin financial services and insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the digital twin financial services and insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The digital twin financial services and insurance market consists of revenues earned by entities by providing digital twin financial services and insurance that are used to assist insurers in defining new policies or packages, mitigating risks, and lowering administration costs. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global digital twin financial services and insurance market is segmented - 1) By Type: System Digital Twin, Process Digital Twin 2) By Technology: IOT And IIOT, Artificial Intelligence And Machine Learning, 5G, Big Data Analytics, Blockchain And Augmented Reality, Virtual Reality, Mixed Reality 3) By Deployment: Cloud, On-Premises 4) By Application: Bank Account Funds Checking, Digital Fund Transfer Checks, Policy Generation, Other Applications