These players have adopted various strategies to increase their market penetration and strengthen their position in the industry. 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. 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. However, data privacy and sharing risks associated with forensic accounting solutions and services hamper the forensic accounting market growth. Moreover, with sudden economic imbalance and large corporations increasing their market share during the period positively impacted the need for forensic accounting solutions.
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. The outcomes of a forensic accounting investigation can be used as evidence in court, and hence financial forensic investigations are usually heavily documented. 02, 2022 (GLOBE NEWSWIRE) - 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 's offering.Īccording 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.įorensic accounting is the analysis of financial records in preparation for or as a result of litigation.
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