Global Audit Software Market Research Report: By Component (Solution and Service), By Deployment Model (On-Premise and Cloud), By Organization Size (Large Enterprises and Small & Medium Enterprises), By Vertical (BFSI, Energy & Utility, Manufacturing, Food & Beverage, Accounting/CPA Firms, Non-Profit Organizations and others) - Forecast till 2030
ID: MRFR/ICT/8099-CR | April 2020 | Region: Global | 107 Pages
1 EXECUTIVE SUMMARY
1.1 MARKET SYNOPSIS 12
1.2 GLOBAL AUDIT SOFTWARE MARKET, BY REGION, 2020 14
1.3 GLOBAL AUDIT SOFTWARE MARKET, BY COMPONENT 14
1.4 GLOBAL AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL 15
1.5 GLOBAL AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE 16
1.6 GLOBAL AUDIT SOFTWARE MARKET, BY VERTICAL 17
1.7 GLOBAL AUDIT SOFTWARE MARKET, BY REGION 18
2 MARKET INTRODUCTION
2.1 DEFINITION 19
2.2 SCOPE OF THE STUDY 19
2.3 RESEARCH OBJECTIVE 19
2.4 MARKET STRUCTURE 20
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 21
3.2 PRIMARY RESEARCH 22
3.3 SECONDARY RESEARCH 23
3.4 MARKET SIZE ESTIMATION 24
3.5 FORECAST MODEL 25
3.6 LIST OF ASSUMPTIONS 26
4 MARKET DYNAMICS
4.1 INTRODUCTION 27
4.2 DRIVERS 28
4.2.1 DEMAND FOR CORPORATE GOVERNANCE, REGULATORY REQUIREMENTS, AND COMPLIANCE 28
4.2.2 INCREASING NEED TO IMPROVE OPERATIONAL EFFICIENCY ACROSS INDUSTRIES 28
4.3 RESTRAINTS 28
4.3.1 CHANGING STRUCTURE OF REGULATORY POLICIES 28
4.4 OPPORTUNITIES 29
4.4.1 RISING ADOPTION OF CLOUD-BASED SERVICES 29
5 MARKET FACTOR ANALYSIS
5.1 PORTER’S FIVE FORCES MODEL 30
5.1.1 THREAT OF NEW ENTRANTS 31
5.1.2 BARGAINING POWER OF SUPPLIERS 31
5.1.3 BARGAINING POWER OF BUYERS 31
5.1.4 THREAT OF SUBSTITUTES 31
5.1.5 INTENSITY OF RIVALRY 31
5.2 VALUE CHAIN 32
5.2.1 DESIGNERS AND PROGRAMMERS 32
5.2.2 SOFTWARE DEVELOPERS 32
5.2.3 SYSTEM INTEGRATORS 33
5.2.4 END-USERS 33
6 GLOBAL AUDIT SOFTWARE MARKET, BY COMPONENT
6.1 OVERVIEW 34
6.2 SOLUTION 35
6.3 SERVICE 35
7 GLOBAL AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL
7.1 OVERVIEW 36
7.2 ON-PREMISE 37
7.3 CLOUD-BASED 37
8 GLOBAL AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE
8.1 OVERVIEW 38
8.2 LARGE ENTERPRISE 39
8.3 SMALL & MEDIUM ENTERPRISE 39
9 GLOBAL AUDIT SOFTWARE MARKET, BY VERTICAL
9.1 OVERVIEW 40
9.2 BANKING, FINANCIAL SERVICES, AND INSURANCE (BFSI) 41
9.3 ENERGY AND UTILITY 41
9.4 MANUFACTURING 41
9.5 FOOD & BEVERAGE 42
9.6 ACCOUNTING/CPA FIRM 42
9.7 NON-PROFIT ORGANIZATION 42
9.8 OTHERS 42
10 GLOBAL AUDIT SOFTWARE MARKET, BY REGION
10.1 OVERVIEW 43
10.2 NORTH AMERICA 44
10.2.1 US 49
10.2.2 CANADA 51
10.2.3 MEXICO 53
10.3 EUROPE 55
10.3.1 GERMANY 60
10.3.2 UK 62
10.3.3 REST OF EUROPE 64
10.3.4 FRANCE 65
10.4 ASIA-PACIFIC 67
10.4.1 JAPAN 72
10.4.2 CHINA 74
10.4.3 INDIA 76
10.4.4 REST OF ASIA-PACIFIC 78
10.5 MIDDLE EAST & AFRICA 80
10.6 SOUTH AMERICA 84
11 COMPETITIVE LANDSCAPE
11.1 MARKET SHARE ANALYSIS 88
11.2 COMPETITIVE BENCHMARKING 90
11.3 RECENT DEVELOPMENTS 91
11.3.1 PRODUCT DEVELOPMENT 91
12 COMPANY PROFILES
12.1 NETWRIX CORPORATION 92
12.1.1 COMPANY OVERVIEW 92
12.1.2 PRODUCTS/SERVICES OFFERED 92
12.2 SHLOKLABS 93
12.2.1 COMPANY OVERVIEW 93
12.2.2 PRODUCTS/SERVICES OFFERED 93
12.3 METRICSTREAM 94
12.3.1 COMPANY OVERVIEW 94
12.3.2 PRODUCTS/SERVICES OFFERED 94
12.3.3 KEY DEVELOPMENTS 94
12.4 INTELEX TECHNOLOGIES 95
12.4.1 COMPANY OVERVIEW 95
12.4.2 PRODUCTS/SERVICES OFFERED 95
12.5 MASTERCONTROL, INC. 96
12.5.1 COMPANY OVERVIEW 96
12.5.2 PRODUCTS/SERVICES OFFERED 96
12.6 GENSUITE 97
12.6.1 COMPANY OVERVIEW 97
12.6.2 PRODUCTS/SERVICES OFFERED 97
12.7 IQVIA COMPANY 98
12.7.1 COMPANY OVERVIEW 98
12.7.2 FINANCIAL OVERVIEW 98
12.7.3 PRODUCTS/SERVICES OFFERED 99
12.7.4 SWOT ANALYSIS 99
12.7.5 KEY STRATEGIES 99
12.8 AUDITDESKTOP 100
12.8.1 COMPANY OVERVIEW 100
12.8.2 PRODUCTS/SERVICES OFFERED 100
12.9 SAP SE 101
12.9.1 COMPANY OVERVIEW 101
12.9.2 FINANCIAL OVERVIEW 101
12.9.3 PRODUCTS/SERVICES OFFERED 102
12.9.4 SWOT ANALYSIS 102
12.9.5 KEY STRATEGIES 102
12.10 LOGICMANAGER 103
12.10.1 COMPANY OVERVIEW 103
12.10.2 PRODUCTS/SERVICES OFFERED 103
12.11 ONSPRING TECHNOLOGIES, LLC 104
12.11.1 COMPANY OVERVIEW 104
12.11.2 PRODUCTS/SERVICES OFFERED 104
12.12 IQS, INC. 105
12.12.1 COMPANY OVERVIEW 105
12.12.2 PRODUCTS/SERVICES OFFERED 105
12.12.3 KEY DEVELOPMENTS 105
13 REGULATORY FRAMEWORK
14 LIST OF TABLES
TABLE 1 PRIMARY INTERVIEWS 22
TABLE 2 LIST OF ASSUMPTIONS 26
TABLE 3 GLOBAL AUDIT SOFTWARE MARKET, BY COMPONENT, 2020–2027 (USD MILLION) 34
TABLE 4 GLOBAL AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2020–2027 (USD MILLION) 36
TABLE 5 GLOBAL AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2020–2027 (USD MILLION) 38
TABLE 6 GLOBAL AUDIT SOFTWARE MARKET, BY VERTICAL, 2020–2027 (USD MILLION) 41
TABLE 7 GLOBAL AUDIT SOFTWARE MARKET, BY REGION, 2020–2027 (USD MILLION) 44
TABLE 8 NORTH AMERICA: AUDIT SOFTWARE MARKET, BY COUNTRY, 2020–2027 (USD MILLION) 45
TABLE 9 NORTH AMERICA: AUDIT SOFTWARE MARKET, BY COMPONENT, 2020–2027 (USD MILLION) 45
TABLE 10 NORTH AMERICA: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 46
TABLE 11 NORTH AMERICA: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 47
TABLE 12 NORTH AMERICA: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 48
TABLE 13 US: AUDIT SOFTWARE MARKET, BY COMPONENT, 2020–2027 (USD MILLION) 49
TABLE 14 US: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2020–2027 (USD MILLION) 49
TABLE 15 US: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2020–2027 (USD MILLION) 50
TABLE 16 US: AUDIT SOFTWARE MARKET, BY VERTICAL, 2020–2027 (USD MILLION) 50
TABLE 17 CANADA: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 51
TABLE 18 CANADA: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 51
TABLE 19 CANADA: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 52
TABLE 20 CANADA: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 52
TABLE 21 MEXICO: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 53
TABLE 22 MEXICO: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 53
TABLE 23 MEXICO: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 54
TABLE 24 MEXICO: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 54
TABLE 25 EUROPE: AUDIT SOFTWARE MARKET, BY COUNTRY, 2019–2027 (USD MILLION) 55
TABLE 26 EUROPE: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 56
TABLE 27 EUROPE: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 57
TABLE 28 EUROPE: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 58
TABLE 29 EUROPE: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 59
TABLE 30 GERMANY: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 60
TABLE 31 GERMANY: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 60
TABLE 32 GERMANY: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 61
TABLE 33 GERMANY: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 61
TABLE 34 UK: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 62
TABLE 35 UK: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 62
TABLE 36 UK: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 63
TABLE 37 UK: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 63
TABLE 38 REST OF EUROPE: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 64
TABLE 39 REST OF EUROPE: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 64
TABLE 40 REST OF EUROPE: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 64
TABLE 41 REST OF EUROPE: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 65
TABLE 42 FRANCE: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 65
TABLE 43 FRANCE: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 66
TABLE 44 FRANCE: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 66
TABLE 45 FRANCE: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 66
TABLE 46 ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY COUNTRY, 2019–2027 (USD MILLION) 67
TABLE 47 ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 68
TABLE 48 ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 69
TABLE 49 ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 70
TABLE 50 ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027(USD MILLION) 71
TABLE 51 JAPAN: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 72
TABLE 52 JAPAN: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 72
TABLE 53 JAPAN: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 73
TABLE 54 JAPAN: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 73
TABLE 55 CHINA: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 74
TABLE 56 CHINA: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 74
TABLE 57 CHINA: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 75
TABLE 58 CHINA: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 75
TABLE 59 INDIA: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 76
TABLE 60 INDIA: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 76
TABLE 61 INDIA: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2014–2020 (USD MILLION) 77
TABLE 62 INDIA: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 77
TABLE 63 REST OF ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 78
TABLE 64 REST OF ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 78
TABLE 65 REST OF ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 79
TABLE 66 REST OF ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 79
TABLE 67 MIDDLE EAST & AFRICA: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 80
TABLE 68 MIDDLE EAST & AFRICA: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 81
TABLE 69 MIDDLE EAST & AFRICA: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 82
TABLE 70 MIDDLE EAST & AFRICA: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 83
TABLE 71 SOUTH AMERICA: AUDIT SOFTWARE MARKET, BY COMPONENT, 2019–2027 (USD MILLION) 84
TABLE 72 SOUTH AMERICA: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2019–2027 (USD MILLION) 85
TABLE 73 SOUTH AMERICA: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2019–2027 (USD MILLION) 86
TABLE 74 SOUTH AMERICA: AUDIT SOFTWARE MARKET, BY VERTICAL, 2019–2027 (USD MILLION) 87
TABLE 75 NEW PRODUCT DEVELOPMENT 91
TABLE 76 NETWRIX CORPORATION: PRODUCTS/SERVICES/SOLUTIONS OFFERED 92
TABLE 77 SHLOKLABS: PRODUCTS/SERVICES/SOLUTIONS OFFERED 93
TABLE 78 METRICSTREAM: PRODUCTS/SERVICES/SOLUTIONS OFFERED 94
TABLE 79 METRICSTREAM: KEY DEVELOPMENTS 94
TABLE 80 INTELEX TECHNOLOGIES: PRODUCTS/SERVICES/SOLUTIONS OFFERED 95
TABLE 81 MASTERCONTROL, INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 96
TABLE 82 GENSUITE: PRODUCTS/SERVICES/SOLUTIONS OFFERED 97
TABLE 83 IQVIA COMPANY: PRODUCTS/SERVICES/SOLUTIONS OFFERED 99
TABLE 84 AUDITDESKTOP: PRODUCTS/SERVICES/SOLUTIONS OFFERED 100
TABLE 85 SAP SE: PRODUCTS/SERVICES/SOLUTIONS OFFERED 102
TABLE 86 LOGICMANAGER: PRODUCTS/SERVICES/SOLUTIONS OFFERED 103
TABLE 87 ONSPRING TECHNOLOGIES: PRODUCTS/SERVICES/SOLUTIONS OFFERED 104
TABLE 88 IQS INC.: PRODUCTS/SERVICES/SOLUTIONS OFFERED 105
TABLE 1 IQS INC: KEY DEVELOPMENTS 105
15 LIST OF FIGURES
FIGURE 1 MARKET SYNOPSYS 13
FIGURE 2 GLOBAL AUDIT SOFTWARE MARKET ANALYSIS, BY COMPONENT 14
FIGURE 3 GLOBAL AUDIT SOFTWARE MARKET ANALYSIS, BY DEPLOYMENT MODEL 15
FIGURE 4 GLOBAL AUDIT SOFTWARE MARKET ANALYSIS, BY ORGANIZATION SIZE 16
FIGURE 5 GLOBAL AUDIT SOFTWARE MARKET ANALYSIS, BY VERTICAL 17
FIGURE 6 GLOBAL AUDIT SOFTWARE MARKET ANALYSIS, BY REGION, MARKET SHARE 2020 (%) 18
FIGURE 7 GLOBAL AUDIT SOFTWARE MARKET: STRUCTURE 20
FIGURE 8 RESEARCH PROCESS 21
FIGURE 9 TOP-DOWN & BOTTOM-UP APPROACHES 24
FIGURE 10 MARKET DYNAMICS OVERVIEW 27
FIGURE 11 PORTER’S FIVE FORCES ANALYSIS: GLOBAL AUDIT SOFTWARE MARKET 30
FIGURE 12 VALUE CHAIN: GLOBAL AUDIT SOFTWARE MARKET 32
FIGURE 13 GLOBAL AUDIT SOFTWARE MARKET, BY COMPONENT, 2020–2027 (USD MILLION) 34
FIGURE 14 GLOBAL AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2020–2027 (USD MILLION) 36
FIGURE 15 GLOBAL AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2020–2027 (USD MILLION) 38
FIGURE 16 GLOBAL AUDIT SOFTWARE MARKET, BY VERTICAL, 2020–2027 (USD MILLION) 40
FIGURE 17 GLOBAL AUDIT SOFTWARE MARKET, BY REGION, 2020 (% SHARE) 43
FIGURE 18 GLOBAL AUDIT SOFTWARE MARKET, BY REGION, 2020–2027 (USD MILLION) 43
FIGURE 19 NORTH AMERICA: AUDIT SOFTWARE MARKET, BY COUNTRY, 2020–2027 (USD MILLION) 44
FIGURE 20 NORTH AMERICA: AUDIT SOFTWARE MARKET, BY COMPONENT, 2020–2027 (USD MILLION) 45
FIGURE 21 NORTH AMERICA: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2020–2027 (USD MILLION) 46
FIGURE 22 NORTH AMERICA: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2020–2027 (USD MILLION) 47
FIGURE 23 NORTH AMERICA: AUDIT SOFTWARE MARKET, BY VERTICAL, 2020–2027 (USD MILLION) 48
FIGURE 24 EUROPE: AUDIT SOFTWARE MARKET, BY COUNTRY, 2020–2027 (USD MILLION) 55
FIGURE 25 EUROPE: AUDIT SOFTWARE MARKET, BY COMPONENT, 2020–2027 (USD MILLION) 56
FIGURE 26 EUROPE: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2020–2027 (USD MILLION) 57
FIGURE 27 EUROPE: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2020–2027 (USD MILLION) 58
FIGURE 28 EUROPE: AUDIT SOFTWARE MARKET, BY VERTICAL, 2020–2027 (USD MILLION) 59
FIGURE 29 ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY COUNTRY, 2020–2027 (USD MILLION) 67
FIGURE 30 ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY COMPONENT, 2020–2027 (USD MILLION) 68
FIGURE 31 ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2020–2027 (USD MILLION) 69
FIGURE 32 ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2020–2027 (USD MILLION) 70
FIGURE 33 ASIA-PACIFIC: AUDIT SOFTWARE MARKET, BY VERTICAL, 2020–2027 (USD MILLION) 71
FIGURE 34 MIDDLE EAST & AFRICA: AUDIT SOFTWARE MARKET, BY COMPONENT, 2020–2027 (USD MILLION) 80
FIGURE 35 MIDDLE EAST & AFRICA: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2020–2027 (USD MILLION) 81
FIGURE 36 MIDDLE EAST & AFRICA: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2020–2027 (USD MILLION) 82
FIGURE 37 MIDDLE EAST & AFRICA: AUDIT SOFTWARE MARKET, BY VERTICAL, 2020–2027 (USD MILLION) 83
FIGURE 38 SOUTH AMERICA: AUDIT SOFTWARE MARKET, BY COMPONENT, 2020–2027 (USD MILLION) 84
FIGURE 39 SOUTH AMERICA: AUDIT SOFTWARE MARKET, BY DEPLOYMENT MODEL, 2020–2027 (USD MILLION) 85
FIGURE 40 SOUTH AMERICA: AUDIT SOFTWARE MARKET, BY ORGANIZATION SIZE, 2020–2027 (USD MILLION) 86
FIGURE 41 SOUTH AMERICA: AUDIT SOFTWARE MARKET, BY VERTICAL, 2020–2027 (USD MILLION) 87
FIGURE 42 KEY PLAYERS MARKET SHARE ANALYSIS, 2020 (%) 88
FIGURE 43 COMPETITIVE BENCHMARKING OF KEY PLAYERS 90
Audit Software Market
Audit Software Market Size is expected to grow by 13.48%.
$2420.7 million
Market Size
13.48%%
CAGR
North America
Dominating Region
2030
Forecast Period
Segmentation
Key Players
- Logic manager
- Netwrix Corporation
- SAP SE
- SHLOKLABS
- Audit Desktop
- IQVIA
- Metric Stream
- Gensuite
- MasterControl
- Interlex technologies
Drivers
- The rising need for operational efficiency is a crucial market driver.
- Automation is estimated to improve the workflow in any accounting firm.
- The growing complexities in the organisation are leading to more adoption.
Audit Software Market Overview
The Audit Software Market Size is expected to grow by 13.48%. An audit program is a special program that helps to perform various auditing tasks. Managing confirmation letters, customers and vendor databases is possible. Streamlining the auditing process is possible through this software. Monitoring, compliance management and surveillance are features of this software. Efficiency and increase in productivity are some of the benefits of this technology. Internal, It and quality auditing are performed through this market.
Organization flow is stable through this technology. Audit programs have various compliance standards. Managing these regulations manually can be a time-consuming task. The audit software abides by the compliance standards thus making it easy to follow rules. The job of the auditor can be hefty.
The workload is more for these auditors. However, audit software helps these auditors to focus on major tasks. Immediate data access, consolidation and validating data are assistance that the audit software provides. The Audit Software Industry demand is sharply rising. The prevalence of accounting firms and auditing task leads to more growth. The automation in the accounting sector is leaving to higher adoption of the software. As per Audit Software Market Forecast, the value of audit software will be remarkable in upcoming years.
COVID Analysis
Covid 19 continues to affect the global markets. Drop-in demand, supply disruptions and low production are some of the challenges in the audit software market. The revenue losses are various companies are higher in this period. However, the audit software is witnessing constant demand. The demands from the end-users are stable. Many finances and accounting firms choose to work remotely. Remote working is increasing the pressure of auditors.
Managing audit tasks single handily is difficult. Due to this, many seek the assistance of audit software. There are few limitations for the audit software market. Deploying such audit software is less in this period. Installation of these systems in offices and enterprises is not possible. By 2021, the deployment process is happening smoothly. More installation of audit software in the central system of the organisation is expected. More expansion opportunities are expected in post covid 19 periods.
Market Dynamics
- Crucial Market Drivers
The rising need for operational efficiency is a crucial market driver. Automation is estimated to improve the workflow in any accounting firm. The growing complexities in the organisation are leading to more adoption. Report preparation is a crucial task in the enterprise. These are the areas that require assistance. The audit software can provide exceptional help in these regions. Some of the benefits of this software are effective audition and cost-efficient tasks.
Especially, large accounting firms have a high need to improve efficiency. Meeting audit deadlines is important in these companies. Therefore, this crucial driver will widen the demand for the audit software market. Furthermore, the need for corporate governance is another crucial driver. Regulatory requirements are increasing in auditing firms. There are plenty of compliance standards that need to be fulfilled in this workspace.
There are many regulations in the auditing firm that requires a constant update. Adopting these manually can be difficult for any firm. However, with the audit software, these updates are effortless. The software automatically updates to such new compliances. All these factors increase the overall efficiency of the organisations. Also, crucial drivers will improve Audit Software Market Profit.
- Market Growth Opportunities
The innovation in the market will lead to high Audit Software Market Growth opportunities. There are plenty of innovations by the key players. The software has many versions. New features in the market will bring favourable change. The features will attract new users to the market. AI and ML are new developments in the market. Artificial intelligence can help the software handle risks. The software can analyse, think and make accurate auditing decisions.
Also, machine to machine learning and communication is possible through this software. Machine learning helps the software to quickly adopt these technologies. All these factors will enhance the overall growth of the audit software market. Further, the rising demand from various verticals will create exceptional growth opportunities. Due to the launch of cloud-based audits, the demand from various verticals is high. IT, telecom, government and BFSI segments are widening the demand for the audit software market. All these growth opportunities will increase overall revenue in the forecast period.
- The Market Restraints
Changing the structure of regulatory policies is common restraint in the audit software market. The audit market has dynamic regulations. Rules in the auditing market keep on changing constantly. The auditing techniques and methods are different every year. Audit software can easily upgrade to these regulations. However, with every update, new versions and features are required.
This can increase costs in the market. The changing complicate standards act as a restraint in the market. Lack of awareness about the software in some sectors is another restraining factor. There are fewer sectors such as accounting and finance that have higher adoption. However, the need in other verticals are surging, still, less demand can affect the overall demand in this market.
- The Market Challenges
Handling spreadsheets is a challenging factor of the market. Auditing in complex business is another challenge in the audit software market. The audit software is developed by brilliant auditors. It is less brilliant than the human mind.
The software may not be efficient to solve highly complex auditing tasks. It is a assistant technology for human auditors. The limitation can affect the demand in some regions. Also, the high cost of this technology acts as another challenge. Auditing systems is complex. These restraints can reduce the adoption rate in some regions. Especially, the emerging markets prefer cost-efficient technologies. The high cost is not affordable for some users. These challenges can affect the overall performance of the Global Audit Software Market.
- Cumulative Growth Analysis
The Audit Software Market Trends is positive in the forecast period. There is both services and software segment of the market. Both these segments provide exceptional profitability. The cloud segment has remarkable adoption among the end-users. Crucial drivers of the market such as automation and rising compliance standards rise demand for audit software.
The demand from various end-users such as finance, account, government, it and telecom has demand for the market. The changing regulatory standards are a restraining factor of the market. Also, handling complex tasks is a limitation of this system. However, growth opportunities can sustain the overall demand in the forecast period.
- Value Chain Analysis
North America is a region with highest Audit Software Market Shares. The demand for this software is growing in the IT, telecom, and healthcare industry. The growing tax expenditure is leading to more technological developments in this market.
The launch of hybrid audit software is high. Further, North America is a key region with high technological advancements. The competitive edge in the market is high. The financial industry market has surging demand for software. Web audit and audit are gaining more traction in these regions. All these growth possibilities will contribute to the high revenue of the market.
Segment Overview
By Component
- Solutions
- Services
By Deployment Mode
- Cloud
- On-premise
By Organisation Size
- Medium enterprise
- Small enterprise
- Large enterprise
By Vertical
- BFIS vertical
- Food and beverage
- Energy and utility
- Accounting CPA firms
- Manufacturing
- Non profit organisations
By Geography
- North America
- Europe
- Asia pacific
- Middle East
- South America
Competitive Landscape
The audit software market is diversified into Asia Pacific, Europe and North America. The competition is surging due to many factors. The price competitiveness is high in recent years. The entrance of new players will cause more innovation in the market. Further, market expansion, acquisitions and collaborations are expected to be high.
Regional Analysis
The audit software market is fragmented into Asia Pacific, Europe, North America and the Middle East. North America is the early adopter of this software. There are plenty of factors that stir demand in this region. Also, it is a region that will record the highest growth rate.
Further, Asia Pacific is the next largest region with high shares. The number of shares in the market is constantly rising. US and Canada are countries that will provide key contributions to the market. The Asia Pacific is another region with high demand for audit software.
The growth of the audit and accounting market is high. The demand from various verticals is driving demand in this region. Furthermore, Europe is another exceptional region with high growth potential. All these factors will contribute to the high revenue of the market.
The key players of the audit software market are
- Logic manager
- Netwrix Corporation
- SAP SE
- SHLOKLABS
- Audit Desktop
- IQVIA
- Metric Stream
- Gensuite
- MasterControl
- Interlex technologies
Recent Developments
- The key players of the market are automating and streamlining the audit tasks. Cloud-based audit software can bring high automation to the market.
- UK based accounting solution is launching AI-based audit software. New services are available on this platform.
Report Overview
- Market Overview Highlights
- Analysis Based Upon COVID 19
- Explanation Upon The Market Dynamics
- Value Chain Analysis
- Market Segmentation Overview
- The Regional Analysis
- Competitive Landscape Analysis
- Recent Developments
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 2420.7 million |
| CAGR | 13.48% |
| Base Year | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Component, sIZE |
| Geographies Covered | North America, Europe, Asia-Pacific |
| Key Vendors | Logic manager Netwrix Corporation SAP SE SHLOKLABS Audit Desktop IQVIA Metric Stream Gensuite MasterControl Interlex technologies |
| Key Market Opportunities | The innovation in the market will lead to high Audit Software Market Growth opportunities. |
| Key Market Drivers | The rising need for operational efficiency is a crucial market driver |
Frequently Asked Questions (FAQ) :
The global Audit software is expected to record a significant market valuation by 2030
The expected global Audit software would register a moderate 13.48% CAGR in the forecast period.
What vertical segment is expected to witness the highest growth on the global Audit Software market?
As the fastest-growing segment, the BFSI segment is expected to expand.
The on-premise segment is poised to develop as the fastest-growing segment.
Some of the significant market players identified in the global Audit Software market are Netwrix Corporation (US), MetricStream (US), SHLOKLABS (Portugal), Intelex Technologies (Canada), and others.
The demand for regulatory requirements, corporate governance, and compliance and the requirement to raise operational efficiency by the organizations is poised to fuel market growth.
The major strategies adopted by key players to increase the profitability of the market is growing R&D investment towards product enhancement.
