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Global Audit Software Market Research Report Forecast to 2025
SKU ID : MRF-16269088 | Publishing Date : 17-Apr-2020 | No. of pages : 107
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Global Audit Software Market Research Report Forecast to 2025
Market
Global Audit Software Market is expected to reach a CAGR of 14.48% during the assessment period. The audit software figures out and automate all the audit operations and applicable regulations, standard, guidelines, development of audit plans and checklists, execution, observation, reporting, and monitoring, and plans. This software helps organizations to manage all the audit-related tasks with accurate and complete inspection through an integrated platform.
The global audit software is anticipated to reach the incredible growth in the forecast period owing to the increasing adoption of cloud-based services and the integration of various technologies such as machine learning and artificial intelligence with audit software. The market growth of the global audit software is attributed to the rising need for corporate governance, regulatory requirements, and compliance, and the requirement of organizations to increase operational efficiency, high-quality reports, and enhanced accuracy of audit software. All these factors are expected to create great opportunities for active players operating in the global audit software during the study period.
Market Segmentation
Global Audit Software Market is segmented based on the Component, Deployment Model, organization size, and vertical. Based on component type the global market has been categorized into Solution and Services. By deployment model, the audit software market has been classified as On-premise and cloud. By organization size, the market is classified into Large Enterprises and Small & Medium Enterprises. Based on verticals the audit software market has been segregated among BFSI, Energy & Utility, Manufacturing, Food & Beverage, Accounting/CPA firms, Non-Profit Organizations, and, others.
Regional Analysis
Region-specific analysis of the Global Audit Software Market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
In 2018, North America contributed the largest market share, valued at USD 195.9 million. The audit software market in North America is evaluated to reach a CAGR of 15.05% during the review period. The regional market growth is propelled by the increasing demand for effective risk management and regulatory compliance, the presence of various software companies in the region, and investments from small and medium-sized businesses.
The audit software market in the Asia-Pacific market is expected to grow at a higher CAGR of 16.43% by 2025. The regional market growth is driven by the continuous requirement for effective risk management and regulatory compliance, the existence of numerous companies, and investments from the small and medium businesses.
Major Players
The Key Players in the Global Audit Software Market are Netwrix Corporation (US), SHLOKLABS (Portugal), MetricStream (US), Intelex Technologies (Canada), MasterControl, Inc. (US), Gensuite (US), IQVIA (US), AuditDesktop (Bulgaria), SAP SE (Germany), LogicManager (US), Onspring Technologies (US), and IQS, Inc. (the US).
COVID 19 Impacts
We are continuously tracking the impact of COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Market
Snapshot
Global Audit Software Market is expected to reach a CAGR of 14.48% during the assessment period. The audit software figures out and automate all the audit operations and applicable regulations, standard, guidelines, development of audit plans and checklists, execution, observation, reporting, and monitoring, and plans. This software helps organizations to manage all the audit-related tasks with accurate and complete inspection through an integrated platform.
The global audit software is anticipated to reach the incredible growth in the forecast period owing to the increasing adoption of cloud-based services and the integration of various technologies such as machine learning and artificial intelligence with audit software. The market growth of the global audit software is attributed to the rising need for corporate governance, regulatory requirements, and compliance, and the requirement of organizations to increase operational efficiency, high-quality reports, and enhanced accuracy of audit software. All these factors are expected to create great opportunities for active players operating in the global audit software during the study period.
Market Segmentation
Global Audit Software Market is segmented based on the Component, Deployment Model, organization size, and vertical. Based on component type the global market has been categorized into Solution and Services. By deployment model, the audit software market has been classified as On-premise and cloud. By organization size, the market is classified into Large Enterprises and Small & Medium Enterprises. Based on verticals the audit software market has been segregated among BFSI, Energy & Utility, Manufacturing, Food & Beverage, Accounting/CPA firms, Non-Profit Organizations, and, others.
Regional Analysis
Region-specific analysis of the Global Audit Software Market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
In 2018, North America contributed the largest market share, valued at USD 195.9 million. The audit software market in North America is evaluated to reach a CAGR of 15.05% during the review period. The regional market growth is propelled by the increasing demand for effective risk management and regulatory compliance, the presence of various software companies in the region, and investments from small and medium-sized businesses.
The audit software market in the Asia-Pacific market is expected to grow at a higher CAGR of 16.43% by 2025. The regional market growth is driven by the continuous requirement for effective risk management and regulatory compliance, the existence of numerous companies, and investments from the small and medium businesses.
Major Players
The Key Players in the Global Audit Software Market are Netwrix Corporation (US), SHLOKLABS (Portugal), MetricStream (US), Intelex Technologies (Canada), MasterControl, Inc. (US), Gensuite (US), IQVIA (US), AuditDesktop (Bulgaria), SAP SE (Germany), LogicManager (US), Onspring Technologies (US), and IQS, Inc. (the US).
COVID 19 Impacts
We are continuously tracking the impact of COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
