Corporate Secretarial Services Market to Reach US$ 1,440.5 Million at CAGR of 7.3% by 2025

The global corporate secretarial services market accounted to US$835.5 Mn in 2017 and is expected to grow at a CAGR of 7.3% during the forecast period 2018 – 2025, to account to US$1,440.5 Mn by 2025.

Corporate secretarial services comprise of services offered to ensure the company's compliance with the statutory and regulatory requirements. The service provider handles the client's company share transaction, act as an advisor to the company, and implement the decisions of the board of directors. This service also includes drafting of company documents including the memorandum of association, articles of association, agreements, allotment letter, and others. 

Market Insights

Increasing competence across business sectors to influence the overall market growth

The dynamic nature of businesses has led to high competition in business sectors with technological advancements and breakthrough innovations. There is no surety of a large business firm continue to remain as the market leader for a long period of time unless it adapts to the ever-changing dynamics. Smaller firms emerging with disruptive innovations have gained the reputation as market disruptors as they pose challenges to the business of larger firms. In simpler words, the business arena today is characterized by cut-throat competition. Each and every business today strive hard to survive and gain a competitive advantage in the market outpacing its competitor. Further, the changing economics, trade relations, Government in a particular region drive the changes in the way businesses are to be done. Having a pre-handed idea on the changing market dynamics hands advantage to the organizations, and this can be done by leveraging upon the expertise of the personnel.

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Corporate Secretarial Services Market: Strategic Insights

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Rising implementation of corporate secretarial service across SMEs

With the increasing global competition, business is ensuring their digital presence and are efficiently utilizing digital technology to sustain in the market. Organizations in the present era, regardless of their size, are exploiting secretarial services for effective functioning. However, several SMEs currently are still skeptical about adopting it. Factors such as fear of risks, lack of right understanding, and expenditures incurred among others may be responsible for the limited adoption. However, there are several open opportunities for SMEs prevailing in the world. They can help the SMEs to efficiently compete with larger enterprises as technology is greatly scalable and flexi.

Service Type Insights

Corporate secretarial service is incrementally gaining momentum in recent years. The corporate secretarial service providers offer industry-specific services for various challenges including scenario planning, market assessment, process design, management of alliance, and others. Corporate secretarial services help in tapping the entire potential of the organization’s workforce. The services considered in the corporate secretarial services market include company & subsidiaries formation, compliance services, statutory record maintenance, corporate housekeeping, share capital assistance, advice & assistance, and others.

End-User Insights

The global corporate secretarial services market by end user is segmented into listed companies, private firms, charity, and others. Others sub-segment includes universities, schools and property management companies among others. These end-users are adopting corporate secretarial services for several purposes, which primarily include increasing their profit margin as well as the market share in their respective markets.

Market initiative was observed as the most adopted strategy in global corporate secretarial services industry. Few of the market initiative are listed below:
2018:ECOVIS entered into a cooperation with Wolters Kluwer for initiating negotiations regarding a content development agreement for its websites.
2018:ECOVIS announced that it is providing legal services in Israel. These services are served to a variety of customers from various sectors namely taxation, real estate entrepreneurs and contractors, manufacturers, agriculture companies, clients from the commerce & services sectors, vehicle leasing companies and retail chains.
2018:Tricor announced that it has entered into a strategic alliance with Fitzgerald & Law for providing cross-border services which consist of global payroll, company formation, international accounting, tax and HR across European and Asian markets.

Corporate Secretarial Services Market Regional Insights

The regional trends and factors influencing the Corporate Secretarial Services Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Corporate Secretarial Services Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Corporate Secretarial Services Market Report Scope

Corporate Secretarial Services Market Players Density: Understanding Its Impact on Business Dynamics

The Corporate Secretarial Services Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Corporate Secretarial Services Market are:

1. TMF Group
2. PwC
3. Deloitte
4. Mazars
5. KPMG

Disclaimer: The companies listed above are not ranked in any particular order.

Global Corporate Secretarial Services – Market Segmentation

By Service Type

• Company & Subsidiaries Formation
• Compliance Services
• Statutory Record Maintenance
• Corporate Housekeeping
• Share Capital Assistance
• Advice & Assistance
• Others

By End User

• Listed Companies
• Private Firms
• Charity
• Others

By Geography

• North America

  • U.S.
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • UK
  • Spain
  • Italy
  • Rest of Europe

• Asia Pacific (APAC)

  • Australia
  • China
  • India
  • Japan
  • Rest of APAC

• Middle East & Africa (MEA)

  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of MEA

• South America (SAM)

  • Brazil
  • Rest of SAM

Company Profiles

• TMF GROUP
• PRICEWATERHOUSECOOPERS
• DELOITTE TOUCHE TOHMATSU LIMITED
• MAZARS GROUP
• KPMG INTERNATIONAL COOPERATIVE
• MSP SECRETERIES LIMITED
• LUTHER CORPORATE SERVICES SDN BHD
• TRICOR GROUP
• ERNST & YOUNG LTD
• ECOVIS INTERNATIONAL