Forensic Accounting Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Forensic Accounting Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The forensic accounting market size has grown strongly in recent years. It will grow from $5.31 billion in 2023 to $5.81 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to increasing white-collar crimes, stringent regulatory compliance, corporate governance concerns, globalization of businesses, litigation and dispute resolution..

The forensic accounting market size is expected to see strong growth in the next few years. It will grow to $7.95 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rising cybersecurity threats, increased focus on fraud prevention, expanding role in risk management, complex financial transactions, growing regulatory scrutiny.. Major trends in the forecast period include integration of machine learning for anomaly detection, specialization in niche areas, enhanced use of data analytics in investigations, emphasis on continuous professional development, integration of predictive analytics for risk assessment..

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Key Market Players:

Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers International Limited, Ernst & Young Global Limited, KPMG International Limited, BDO International Ltd, Grant Thornton Bharat LLP, Baker Tilly US LLP, FTI Consulting Inc., Crowe Horwath LLP (Crowe), Alvarez & Marsal Holdings LLC., Marcum Bernstein & Pinchuk LLP, CohnReznick LLP, Armanino LLP, Friedman LLP, Cellebrite DI Ltd., EisnerAmper LLP, Citrin Cooperman & Company LLP, Matson Driscoll & Damico LLP, CaseWare International Inc., Galvanize Inc., Baltic Assist, RGL Forensics, Weaver & Tidwell LLP, Farahat & Co., Arbutus Software Inc., Sama Audit Systems & Software Pvt Ltd, Cygna Labs Corporation, Passware Inc., Fulcrum Management Consultants LLP, Fox Forensic Accounting LLC are prominent players in the industry.

Market Drivers:

The increased incidence of fraud and finance-related cybercrimes is expected to propel the growth of the forensic accounting market going forward. Financial fraud refers to deceptive activities where individuals or entities manipulate financial information, transactions, or records to gain illicit benefits, cause monetary loss, or mislead stakeholders, often involving actions like misrepresentation, embezzlement, or falsifying financial data. The surge in financial fraud cases amplifies the demand for specialized forensic accounting services, propelling the expansion of the forensic accounting market as organizations seek expertise in detecting, investigating, and preventing fraudulent activities. For instance, in May 2023, according to UK Finance, a UK-based trade association for the banking sector, authorized fraud losses through financial fraud reached £485.2 million ($616 million), with 207,372 total cases in 2022, an increase of 6% compared to 2021. Therefore, the increased incidence of fraud and finance-related cybercrimes drives the forensic accounting market.

Market Segments Include:
1) By Component: Solution, Service
2) By Deployment Model: On Premise, Cloud
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Law Enforcement Agencies, Government And Public Sector, Accounting Firms, Other Industry Verticals

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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