The Audit Software market is segmented into two categories based on thesegmentation by deployment (on-premises and cloud) and geography (North America, Europe, APAC, MEA, and South America).The market share is expected to increase by USD 746.51 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 12.70%.
Parent Market Analysis
Technavio categorizes the global Audit Software Market as a part of the global application software market within the information technology market.
Technavio uses the total revenue generated by manufacturers to estimate the global audit software market size. External factors influencing the parent market’s growth potential in the coming years have been thoroughly investigated in our research analysis, to know more about the levels of growth of the audit software market throughout the forecast period, Download a free sample.
Audit Software Market Value Chain Analysis
To maximize profit margins and evaluate business plans, an end-to-end understanding of audit software is required. The report will help vendors drive costs and enhance customer services during the forecast period.
- Inputs
- Software development process
- Marketing and distribution
- Post-selling services
- Maintenance and support
- Innovation
To unlock information about vendor drive costs and customer service, download our free sample report.
Vendor Insights
The audit software market is fragmented, and the vendors are deploying various organic and inorganic growth strategies to compete in the market. To make the best of the opportunity, the market vendors should focus more on the fast-growing segment’s growth prospect while maintaining their positions in the slow-growing segments.
We provide a detailed analysis of vendors operating in the audit software market, including some of the vendors such as Benchmark Digital Partners LLC, CaseWare International Inc., ComplianceBridge Corp., Dassault Systemes SE, Diligent Corp., Ideagen Plc, International Business Machines Corp., NAVEX Global Inc., Wolters Kluwer NV, and Workiva Inc.
Backed with competitive intelligence and benchmarking, our research reports on the audit software market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
Product Insights and News
- Benchmark Digital Partners LLC. – Offers audit management software namely Gensuite Audit Management Software.
- CaseWare International Inc. – Offers audit management software namely CaseWare Audit with risk and control tracking, audit optimizer and real time collaboration.
- ComplianceBridge Corp. – Offers audit management software namely ComplianceBridge Risk Audit Management Software.
Audit Software market forecast report offers in-depth insights into key vendor profiles and offerings –Download Free Sample Report
Geographical Highlights
The audit software market share growth in North America will be significant during the forecast period. US and Canada are the key markets for the audit software market in North America. Market growth in this region will be slower than the growth of the market in APAC.
The need for streamlining enterprises’ financial structure and complying with the set regulations are the primary drivers expected to drive the audit software market in North America during the projected period.
The US and Canada are the main revenue-generating countries in the market in North America. Most organizations in the United States are having trouble handling developing and unexpected risks as part of their financial structuring. This can result in revenue loss and company disruption. To address these issues, businesses are turning to audit software, which can assist streamline the auditing process. Auditing aids in the early detection of financial concerns, which can then be avoided by taking corrective action. Owing to these advantages of audit software, the market in North America is growing at a stable rate.
Moreover, countries like the US, Canada, UK, Germany, and France are the key market for the audit software market in North America.
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Key Market Dynamics-
- Audit Software Key Market Drivers:
- Increased demand for cloud-based audit software
Reduced upfront expenses and low integration complexity are two advantages of cloud-based audit software. Furthermore, cloud-based audit software facilitates secure online communication with clients and coworkers. Enterprises have been able to adopt emerging technologies like cognitive technology, blockchain, and others as a result of the software’s adoption, and these are being utilized to predict insight-driven audits and validate results. As a result of these advantages, end-users are adopting cloud-based audit software at a faster rate, resulting in market growth over the projection period.
- Audit Software Key Market Trends:
- Integration of cognitive technology with audit software
The cognitive technology-based audit software uses algorithms to do data analysis on massive amounts of financial data in order to extract data insights and provide reports depending on the financial structure of the business. In the audit reporting process, AI also enables the deployment of strategies based on generated data insights to improve risk management. Organizations can also employ AI-based analysis to provide high-quality audits to examine the risks they face, financial reporting controls, and operating environments. The use of artificial intelligence in auditing is becoming more common in all areas, which will fuel market expansion over the projection period.
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| Audit Software Market Scope | |
| Report Coverage | Details |
| Page number | 120 |
| Base year | 2020 |
| Forecast period | 2021-2025 |
| Growth momentum & CAGR | Accelerate at a CAGR of 12.70% |
| Market growth 2021-2025 | $ 746.51 million |
| Market structure | Fragmented |
| YoY growth (%) | 11.58 |
| Regional analysis | North America, Europe, APAC, MEA, and South America |
| Performing market contribution | North America at 43% |
| Key consumer countries | US, Canada, UK, Germany, and France |
| Competitive landscape | Leading companies, Competitive strategies, Consumer engagement scope |
| Key companies profiled | Benchmark Digital Partners LLC, CaseWare International Inc., ComplianceBridge Corp., Dassault Systemes SE, Diligent Corp., Ideagen Plc, International Business Machines Corp., NAVEX Global Inc., Wolters Kluwer NV, and Workiva Inc. |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Deployment
- Market segments
- Comparison by Deployment
- On-premises – Market size and forecast 2020-2025
- Cloud – Market size and forecast 2020-2025
- Market opportunity by Deployment
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- APAC – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor Landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Benchmark Digital Partners LLC
- CaseWare International Inc.
- ComplianceBridge Corp.
- Dassault Systemes SE
- Diligent Corp.
- Ideagen Plc
- International Business Machines Corp.
- NAVEX Global Inc.
- Wolters Kluwer NV
- Workiva Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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