Forensic Accounting Market 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): Global Opportunity Analysis and Industry Forecast, 2021-2031
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.
The global forensic accounting market is segmented on the basis of component, deployment model, enterprise size, industry vertical, and region. On the basis of component, the industry is divided into solution and service. Depending on deployment model, it is classified into on-premise and cloud. By enterprise size, it is bifurcated into large enterprises and SMEs. The industry vertical covered in the study includes BFSI, law enforcement agencies, government & public sector, accounting firms, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global forensic accounting market is dominated by key players such as Arbutus Software Inc., AccessData, BDO Global, CaseWare IDEA, Cellebrite, Cygna Labs Corp, Deloitte Touche Tohmatsu Limited, e-fense, Ernst & Young Global Limited, Fulcrum Management., Galvanize, KPMG International, Nuix, OpenText, Passware, PwC, and Sama Audit Systems & Software Pvt Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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.
The global forensic accounting market is segmented on the basis of component, deployment model, enterprise size, industry vertical, and region. On the basis of component, the industry is divided into solution and service. Depending on deployment model, it is classified into on-premise and cloud. By enterprise size, it is bifurcated into large enterprises and SMEs. The industry vertical covered in the study includes BFSI, law enforcement agencies, government & public sector, accounting firms, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global forensic accounting market is dominated by key players such as Arbutus Software Inc., AccessData, BDO Global, CaseWare IDEA, Cellebrite, Cygna Labs Corp, Deloitte Touche Tohmatsu Limited, e-fense, Ernst & Young Global Limited, Fulcrum Management., Galvanize, KPMG International, Nuix, OpenText, Passware, PwC, and Sama Audit Systems & Software Pvt Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Key Benefits For Stakeholders
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
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