DUBLIN--(BUSINESS WIRE)--The "Forensic Accounting Market By Component, By Deployment Model, By Enterprise Size, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the forensic accounting market size was valued at $5.13 billion in 2021, and is estimated to reach $11.68 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031.
Forensic accounting is the analysis of financial records in preparation for or as a result of litigation. The outcomes of a forensic accounting investigation can be used as evidence in court, and hence financial forensic investigations are usually heavily documented.
Rise in demand for work from home and remote working policies during the period of the COVID-19 pandemic led to growth of global remote and automated accounting solutions during the period, hence empowering demand for forensic accounting solutions. Moreover, with sudden economic imbalance and large corporations increasing their market share during the period positively impacted the need for forensic accounting solutions.
However, data privacy and sharing risks associated with forensic accounting solutions and services hamper the forensic accounting market growth. On the contrary, integration of advanced tools such as machine learning and data analytics with forensic accounting solutions suites are expected to offer remunerative opportunities for expansion of the forensic accounting market during the forecast period.
Forensic accounting is the analysis of financial records in preparation for or as a result of litigation. The outcomes of a forensic accounting investigation can be used as evidence in court, and hence financial forensic investigations are usually heavily documented.
Rise in demand for work from home and remote working policies during the period of the COVID-19 pandemic led to growth of global remote and automated accounting solutions during the period, hence empowering demand for forensic accounting solutions. Moreover, with sudden economic imbalance and large corporations increasing their market share during the period positively impacted the need for forensic accounting solutions.
However, data privacy and sharing risks associated with forensic accounting solutions and services hamper the forensic accounting market growth. On the contrary, integration of advanced tools such as machine learning and data analytics with forensic accounting solutions suites are expected to offer remunerative opportunities for expansion of the forensic accounting market during the forecast period.
Key Benefits
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the forensic accounting market analysis from 2021 to 2031 to identify the prevailing forensic accounting market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the forensic accounting market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global forensic accounting market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Solution
- Service
By Deployment Model
- On Premise
- Cloud
By Enterprise Size
- Large Enterprises
- SMEs
By Industry Vertical
- BFSI
- Law Enforcement Agencies
- Government and Public Sector
- Accounting Firms
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Mexico
- UAE
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- AccessData
- BDO Global
- CaseWare IDEA
- Cellebrite
- Cygna Labs Corp
- Deloitte
- e-fense
- Ernst & Young Global Limited
- Fulcrum Management
- Arbutus Software Inc.
- Galvanize
- Nuix
- OpenText
- Passware
- Sama Audit Systems & Software Pvt Ltd
For more information about this report visit https://www.researchandmarkets.com/r/h1mf5a
