Forensic Accounting Market worth $11.07 billion by 2030, growing at a CAGR of 9.28% - Exclusive Report by 360iResearch

The "Forensic Accounting Market by Offerings (Services, Software), Function (Anti-money Laundering (AML) Investigations, Bankruptcy & Insolvency, Corporate Investigations), End-Use, Deployment Model - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Forensic Accounting Market to grow from USD 5.95 billion in 2023 to USD 11.07 billion by 2030, at a CAGR of 9.28%.

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Forensic accounting includes the practice of utilizing accounting, auditing, and investigative skills to conduct an investigation of the finances of an individual or business. It is a specialized field of accounting that aims to identify and prevent financial fraud and to assist in legal and financial matters. Forensic accountants are often required to serve as expert witnesses in court trials and legal disputes, presenting their findings in a manner understandable to the judges and jurors. The growing intricacy of financial transactions and regulatory environments is driving the usage of forensic accounting for navigating legal and financial disputes. Rising changes in legislation, such as the Sarbanes-Oxley Act in the U.S., have heightened the demand for forensic accountants to ensure compliance and prevent fraud. The rise of digital transactions and the increasing sophistication of cybercrime have expanded the scope of forensic accounting beyond traditional boundaries, incorporating elements of cybersecurity. As businesses expand internationally, the complexity of managing and auditing multinational financial activities fuels the need for forensic accounting expertise. A shortage of skilled professionals and complex legal systems and jurisdictional boundaries associated with forensic accounting solutions hampers the market's growth. Further, rising advancements and improvements in the development of forensic accounting solutions by market vendors are expected to create opportunities for market growth.

In the Americas, the forensic accounting market has shown moderate growth, underpinned by resilient consumer spending and technological innovation. The United States, as a significant contributor, has seen a surge in forensic accounting activities owing to the enforcement of regulations, including the Dodd-Frank Act and Sarbanes-Oxley Act. The EMEA region presents a mixed picture, characterized by diverse economic conditions and varying degrees of market performance. Europe's market is progressively stabilizing, driven by stringent financial oversight by entities including the European Securities and Markets Authority (ESMA). The adoption of International Financial Reporting Standards (IFRS) has further harmonized accounting practices, fostering trust amongst investors. The Middle East and African markets, while still developing in terms of forensic accounting adoption, are beginning to realize its significance in combating financial fraud and enhancing market robustness. The APAC region has experienced rapid economic growth, making it a vibrant marketplace for forensic accounting companies. The introduction of stringent regulatory environments where forensic accounting is integral to market operations has contributed to the stability and attractiveness of the regional market.

Market Segmentation & Coverage:

This research report categorizes the Forensic Accounting Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Offerings, market is studied across Services and Software. The Software is further studied across Case Management Tools, Data Analysis Tools, and Visualization Tools. The Software is projected to witness significant market share during forecast period.

Based on Function, market is studied across Anti-money Laundering (AML) Investigations, Bankruptcy & Insolvency, Corporate Investigations, Financial Statement Analysis, Insurance Claims, Litigation Support, and Matrimonial Disputes. The Insurance Claims is projected to witness significant market share during forecast period.

Based on End-Use, market is studied across BFSI and Government & Public Sector. The BFSI is projected to witness significant market share during forecast period.

Based on Deployment Model, market is studied across Cloud and On-Premise. The Cloud is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.37% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Forensic Accounting Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Forensic Accounting Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Forensic Accounting Market, highlighting leading vendors and their innovative profiles. These include AlixPartners, LLP, Alvarez & Marsal Holdings, LLC, Ankura Consulting Group, LLC, Baker Tilly Virchow Krause, LLP, BDO International Limited, Berkeley Research Group, LLC, CohnReznick LLP, Crowe LLP, Duff & Phelps, LLC, Eide Bailly LLP, EisnerAmper LLP, FTI Consulting, Inc., Grant Thornton International Ltd, Kroll, LLC, Marcum LLP, Navigant Consulting, Inc., PricewaterhouseCoopers LLP, Protiviti Inc., RSM International Limited, StoneTurn Group LLP, and Stout Risius Ross, LLC.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Forensic Accounting Market, by Offerings
7. Forensic Accounting Market, by Function
8. Forensic Accounting Market, by End-Use
9. Forensic Accounting Market, by Deployment Model
10. Americas Forensic Accounting Market
11. Asia-Pacific Forensic Accounting Market
12. Europe, Middle East & Africa Forensic Accounting Market
13. Competitive Landscape
14. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Forensic Accounting Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Forensic Accounting Market?
3. What is the competitive strategic window for opportunities in the Forensic Accounting Market?
4. What are the technology trends and regulatory frameworks in the Forensic Accounting Market?
5. What is the market share of the leading vendors in the Forensic Accounting Market?
6. What modes and strategic moves are considered suitable for entering the Forensic Accounting Market?

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