Forensic Accounting Overview:
The Global Forensic Accounting Market is expected to reach USD 9.85 Billion by 2025, registering a CAGR of 8.2% during the forecast period 2019–2025. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the coming years.
Increasing adoption of digital tools for investigation and stringent regulations and compliance is driving the global Forensic Accounting Market. Forensic accountants extensively use such tools and services in order to effectively conduct investigative procedures. These accountants are the investigators employed by various firms and agencies who conduct investigations related to financial frauds. In the past, these investigators used traditional methods for data crunching and data analysis. However, with the advent of advanced technologies like analytics, high-level forensic tools such as various accounting and auditing tools and integrated forensic software suite have been developed which are largely used to streamline the investigation. Vendors operating in the market is offering tools and solutions in line with the requirements of forensic accountants. These software tools have the capabilities to analyze and deliver meaningful data with ease. Additionally, this software also has the capabilities to locate all the data on a computer disk and protect the evidence (data) and therefore helps forensic accountants create reports that can be used for legal proceedings.
The adoption of forensic accounting is specifically increasing among accounting firms and law enforcement agencies. Also, with the entry of various forensic accounting solution providers in the market, end users have various vendors to choose from before selecting the suitable solution vendor, which in turn is creating competition in the market. Also, with the introduction of more affordable and comprehensive solutions, the popularity of forensic tools is increasing. All these developments in the market are expected to drive the market forward.
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Competitive Analysis:
The key players of the global forensic accounting market are Galvanize, CaseWare IDEA, Arbutus Software Inc., Fulcrum Management, Nuix, Cygna Labs Corp, e-fense, Passware, OpenText, Cellebrite, Sama Audit Systems & Software Pvt Ltd, and AccessData.
Segmental Analysis:
The global forensic accounting market has been segmented on the basis of component, end user, and region
Regional Analysis:
The regional analysis for the global forensic accounting has been conducted for North America, Europe, Asia Pacific (APAC), and the Middle East & Africa, and South America.
The market in North America accounted for the largest market share in 2018, and it is expected to register strong growth during the forecast period. The key driving factors for the growth of the forensic accounting market in the region include the growing demand for such solutions among enterprises operating in the US, Canada, and Mexico.
The market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. For the purpose of analysis, Asia-Pacific has been categorized into China, Japan, India, and the rest of Asia-Pacific. This growth can be attributed to the growing adoption of digital forensic solutions largely among law enforcement agencies and various big accounting firms.
Table of Contents
1.1. Market Attractiveness Analysis
1.1.1. Global Forensic Accounting Market, By Component
1.1.2. Global Forensic Accounting Market, By End-User
1.1.3. Global Forensic Accounting Market, By Region
2.1. Definition
2.2. Scope of The Study
2.3. Market Structure
Continued…..
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List of Tables
Table 1 List of Assumptions
Table 2 Global Forensic Accounting Market, By Component, 2018–2025 (Usd Million)
Table 3 Global Forensic Accounting Market, By End-User, 2018–2025 (Usd Million)
Table 4 Global Forensic Accounting Market, By Region, 2018–2025 (Usd Million)
Table 5 North America: Forensic Accounting Market, By Country, 2018–2025 (Usd Million)
Continued…..
List of Figures
Figure 1 Market Synopsis
Figure 2 Research Process of Mrfr
Figure 3 Top Down & Bottom-Up Approach
Figure 4 Global Forensic Accounting Market, By Component, 2018–2025 (Usd Million)
Figure 5 Global Forensic Accounting Market, By End-User, 2018–2025 (Usd Million)
Continued…..
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